Guide to choosing the best online payment solution for your business:- www.deekpay.com

With the growing number of online shoppers, it is important to provide your customers with secure, easy-to-use and fast online payment solutions. According to data, there are currently 147.8 million e-commerce users in India and this number is expected to grow to 358 million by 2020. However, data also shows that around 70% of customers abandon their shopping carts at the checkout stage, which leads to loss of business.

Therefore, the payment solution you choose should have features such as multiple payment options at checkout, an easy-to-use customer interface and a high success rate for more conversions.

Here are some key points to consider when choosing an online payment solution:

1. More than a payment gateway

If you are building a business, choose a payment solution that offers customised products and meets all your collection needs. For example, if you have a website, offer the option to integrate a payment gateway; if you don't have a website, offer payment links for collections, etc.

PayUmoney offers a variety of other products to help you better manage your payments!

Web Checkout - You've put a lot of effort into attracting people to visit your landing page and add items to their shopping cart. You certainly don't want to lose them to a poorly designed or confusing checkout page. We offer completely redirection-free web and mobile web checkout through PayUmoney Bolt. The payment page opens as a pop-up window on your website and the customer doesn't have to leave your site, thus improving success rates and increasing sales.

Click here to learn more about PayUmoney Bolt web checkout.

Plug-in SDK - If you're a growing business but don't have a website, a payment gateway for mobile apps is the best option for collecting online payments.The PayUmoney SDK allows you to accept payments in your Android or iOS mobile app. You can easily integrate the SDK in your app with customised pre-designed screens and start collecting payments in minutes with multiple payment options.

To get the SDK for your business application, click here.

Platform Plugins - Wouldn't it be great if your website was built on an eCommerce platform? You will accept payments through them! PayUmoney Platform Plugins provide plug-and-play payment gateways for popular eCommerce platforms (e.g. Shopify, Wooocommerce, Magento, OpenCart, etc.). Adding these plugins has also become extremely easy.

Click on the image to watch a 2-minute video on how to integrate the platform plugin:

Payment Links - If you want to collect customer payments from anywhere but don't want to go through the process of installing a payment gateway, payment links are the best option. Send PayUmoney payment links and request payments via WhatsApp, email, social media or any other app.

If you are interested in having the payment transferred directly to your bank account via the payment link, please click here.

Excel Plugin - If you use Excel extensively in your business, maybe you can also use it to receive payments! PayUmoney Payments Plugin For MS Excel gives you the ability to accept and manage payments directly in an Excel sheet. Using PayUmoney's Excel plugin, you will be able to send multiple payment links at once.

Learn more about the features of the PayUmoney Excel plugin and how it integrates.

PayUmoney Button - If your business has limited products and fixed prices, or if you are an NGO looking to receive donations through your website, the PayUmoney Button may be ideal for collecting payments. To integrate the PayUmoney button, all you need to do is place the "Pay Button" HTML code on your website or blog and start collecting payments immediately!

Watch this video to learn how to create a PayUmoney payment button.

Aggregator Solution - If you are building a business that connects buyers and sellers, you can use the PayUmoney Aggregator Solution to get your sellers paid. The aggregator solution allows multiple settlements for a single authorised transaction.

2. Simple registration and quick start

Cumbersome registration and onboarding processes continue to be a pain point for many in the online payments industry. Providing all the paperwork in person, waiting months for approvals, and following up with the Payment Solutions team can have a significant impact on your business.

And at PayUmoney, signing up takes just two simple steps, and we're proud to announce our introductory process 100% online and without red tape. When you upload an electronic copy of all your files from the PayUmoney dashboard, you will constantly receive emails confirming the status of the application.

Learn more about the list of documents for payment gateways with this post.

3. Higher success rate

It is vital to check and compare the success rates of different online payment processors. Always check that the online payment solution you choose has all the payment options available. More payment options, easy checkout process will increase the success rate.

PayUmoney has the best transaction success rate in the industry.

4. Low cost

Paying for every transaction is not a small amount of money for running your own business! Therefore, you should always compare the setup fees, transaction fees and ask if there are any hidden fees from different payment solution companies. At PayUmoney, we make sure that the transaction prices we charge our merchants are the best in the industry and legal.

We waive any setup fees or annual maintenance fees. We charge 2% plus GST per transaction.

For American Express and Diners cards, the transaction fee for international transactions is 3% plus GST.

5. All payment options

Offer your customers as many payment options as possible to minimise the likelihood of churn. The more payment options you offer, the more convenient it is for your customers, thus increasing your conversion rate.PayUmoney supports a wide range of payment options, including:

Credit/Debit Cards Internet Banking UPI EMI E-Wallet Tez LazyPay

6. Provide international payment + EMI options

In order to grow your business globally, you should implement a solution that accepts payments in different currencies.PayU offers our merchants an international payment service that accepts 30 currencies, working with major banks.

Below is a step-by-step guide on how to accept international payments with PayUmoney.

EMI Options

Many people find it more convenient to make payments through EMI (Equated Monthly Installments) PayUmoney has partnered with several banks to provide customers with the option of choosing EMI payments on the checkout page. If you would like to offer EMI payment option to your customers on the checkout page, please contact us.

7. Seamless checkout experience

Customers today expect everything to be done in a flash. If your checkout process is optimised, you may attract more traffic and achieve more purchases. An easy-to-use checkout interface makes shopping more convenient, and PayUmoney has developed a number of additional features to ensure that customers do not encounter any difficulties when checking out via the web or mobile devices.

Save Card - PayUmoney offers customers the option to save their card details at the time of the transaction so that they don't have to fill in the details again next time.

The success rate of transactions made through save cards is 8-12% higher than other transactions.

Nitro Functionality - By integrating the Nitro process, we eliminate the need for customers to remember and enter login credentials. They can quickly access PayUmoney's saved cards and complete payments.

Merchants using Nitro saw a 6-7% increase in success rates.

Easy Retry Option - If a customer is interrupted during the checkout process due to technical or network issues, they do not need to refill their details. Customers can easily retry from where they left off.

Payment Intelligence - PayUMoney uses proprietary algorithms to present consumers with the most preferred payment options, resulting in a frictionless and fast checkout experience.

Continue reading to learn more about PayUmoney web checkout: fully redirection-free web and mobile web checkout!

8. High security

As more and more businesses use online payment solutions, concerns about cyber security fraud are on the rise. You may have heard news of hackers gaining access to customer card details by breaking into websites. However, one of PayUmoney's key objectives is to protect users' general and financial information. The following pointers make PayUmoney a completely secure payment processor:

It is PCI-DSS compliant, which means that PayUmoney adheres to all security standards and practices recommended by the payment card industry. In addition, double verification is always required during the checkout process. Firstly, the customer must enter the CVV and secondly, the OTP sent to their registered mobile phone number.

9. Powerful tracking dashboard

The online payment solution you use should not only have payment acceptance options, but should also offer the convenience of tracking and managing online transactions.

The PayUmoney dashboard enables you to view all transactions in a systematic format. Additionally, you are able to keep track of cash flow - how much money has been deposited, how much has been deducted (refunded), and reconcile payments and send payment links to customers.

Read more about the filters and features of the new PayUmoney dashboard.

10. Adaptation to all devices

Your business payment/checkout page must be optimised for any device (e.g. desktop, mobile or tablet) to provide a better payment experience.

PayUmoney's checkout pages are highly optimised and responsive for any device, be it a smartphone, tablet, desktop or laptop. As a result, customers can experience a seamless payment checkout no matter what device or browser they are using.

In addition, PayUmoney offers a mobile-only checkout feature that allows consumers to easily checkout from their mobile phones. If a customer has previously filled in an email address in the web checkout, they will not need to enter it again when checking out on their mobile device.

reach a verdict

When choosing an online payment solution, security and ease of use checkout pages play a crucial role. And PayUmoney is the world's leading payment solution provider in terms of success rate and ease of use.

If you want to get all these benefits and grow your business effectively, sign up on PayUmoney.