PayU Payment Gateways: Choosing the Right Shopify Payment Gateway for Your Website - A Quick Guide

Picking the right online platform is a crucial step in determining your online payment experience. The right choice of Shopify payment gateway keeps your customers coming back. With the expanding internet connectivity in the country, customer behaviour is changing at an unprecedented rate, making it all the more important to support online payment methods with the help of a robust payment gateway to make your business ubiquitous. The expansion of internet coverage in the country has virtually brought urban and rural markets on the same level, opening up new avenues for online business and online payment solutions.Shopify Payments India is one of the leading e-commerce platforms that allows businesses of all sizes to set up online shops. Be it products, courses or memberships, you can sell anything through Shopify.

Online Payment Prospects

The surge in the number of mobile users and data in India signals the promise of online payments and the importance of having a secure and robust payment gateway. At the end of September 2021, India had 834.29 million internet users (broadband and narrowband). Notably, 37.671 TP3T of these internet users are from rural areas. According to a report by the Department of Telecommunications (DoT), the average monthly data consumption of wireless data subscribers in India was 14 GB in June 2021.This compares to 61.66 MB in March 2014.These figures not only signify the potential of the online payments market, but also reflect the need for a diverse experience and secure online transactions.

However, the question remains: which payment gateways does Shopify support and how do I integrate the payment gateway of my choice? Let's answer these questions one by one.

Payment gateways supported by Shopify

Shopify Payments India gives you the freedom to choose a payment gateway and start your online selling journey in minutes. Choosing the right payment gateway is crucial to start a journey with a satisfying user experience. It also needs to be supported with an integrated online payment solution. In order to integrate your chosen payment gateway on Shopify Payments, you need the necessary plugins built by the respective payment gateway on the respective payment platform for a quick interface. "PayU India provides a highly integrated payment platform" to make your POS payment experience just a few clicks away.

Acceptance of diversified sources of payment

Shopify shops support multiple payment sources, including:

Credit cards, debit cards, net banking, digital wallets, bank transfers, UPIC, cash on delivery, instalments, etc.

It also supports 'buy now, pay later' online payments, which helps in enhancing customer experience and brand loyalty.PayU, India's powerful payment gateway, makes it easy to switch and choose between various payment sources.

Shorter and smarter payment settlement cycles

The payment settlement cycle is the time it takes for the payment gateway to interact with the funding source, withdraw the funds and settle the payment. If the payment settlement cycle is shorter and smarter, then this is successful for both the customer and the merchant. With a robust infrastructure, this can be achieved through a payment gateway, such as PayU. The right choice of payment gateway allows you to "receive settlement the same day", choose PayU.

High transaction success rate

"The loading time of the payment success page is critical for a good customer experience" as this is the moment when the customer decides to choose the payment gateway. Therefore, it is crucial for payment gateways and online payment processors to record high transaction success rates, which will enhance brand visibility among customers.PayU India's smart algorithms enable users to record the highest transaction success rates without any hassle.

Steps to integrate payment gateway in Shopify shop

A few simple steps will allow you to integrate PayU payment gateway in your Shopify shop. Please follow the instructions below:

Go to your device's settings and select Online Payment Provider. Click and add an online payment provider. Select Third Party Payment Gateway from the drop down menu. Fill in the online form. Click to activate your online payment gateway.

Getting Started with PayU

Payment Gateway Fees for Shopify

Payment gateway fees or online payment fees are crucial when choosing a Shopify payment gateway. Payment gateway providers charge different fees. As a business or individual seller, you should be aware of all the payment gateway fees before choosing one. The fees usually charged by payment gateway providers include:

Payment gateway setup costs, annual maintenance costs, integration costs for the online payment experience, merchant discount rates for enhanced experience, etc.

It's important to note that in addition to these payment gateway fees, Shopify platform fees also apply. So, before you click, do a quick check on the payment gateway's level of integration, transaction success rate, additional features offered, and the overall payment fees involved.