One Stop Solution for All Your Transactions- Payment Gateways in India

Traditional methods of transactions are slowly becoming obsolete. With the advent of online payment gateways, solutions to transaction problems have become extremely easy and manageable.

Payment Gateways provide a simple and effective medium through which you can make payments easily, with just a few simple steps.

Compared to its global peers, India is growing rapidly in e-commerce. The Indian e-commerce market is expected to reach $64 billion by the year 2021. It is growing at a steady rate and is expected to hit a growth of 31.2% CAGR within the next five years. *

What is a Payment Gateway?

A payment gateway is a software or merchant service that acts as a medium for processing transactions. Payment Gateways help to facilitate communication between banks and payment portals.

Payment Gateways play an important role in the advancement of modern transaction solutions. E-Billing Solutions Pvt. Ltd. (EBS), part of Ingenico Group Payment Gateway offers customer services to facilitate communication and ease of transaction between merchants and customers.

What need does Payment Gateway solve?

Payment Gateway is a service that processes, verifies, and accepts various types of cards like VISA, Master, or RuPay card etc. and other electronic based transactions on behalf of your customers. This is done via online transfers. Customers can easily make payments through the gateway system anytime time of the day or night, 24/7.

The inception of payment gateways has certainly added more popularity to the trend of online shopping, as the gateways are not just secure but agile as well. Transactions have become much easier now, thanks to the advent of Payment Gateways.

There are several providers offering payment gateway solutions. You can opt for a provider who will give you an all-in-one solution; the one that effectively handles your merchant account while at the same time processes your credit card orders. You can also opt for two different providers providing individual services.

Some of the popular companies having a Payment Gateway solution in India

There are several payment gateways in India that you can choose from. Each company offers solutions catering to your needs, each with its own personality and traits. The outlook towards Payment Gateways in India is changing rapidly. Nowadays, we can find owners of even small shops accepting digital payments through different mediums such as QR code, UPI, BHIM app. Several Indian Payment Gateways also provide options for multi-currency transactions; and EBS is one of them.

Evolution of payment space, from product driven to solution driven

The inception of Payment Gateways traditionally occurred as a product-driven business. Payment Gateways offered an easy way for individuals or customers to complete their transactions, which in turn, turned the business of Payment Gateways profitable.

This approach has been slightly changed in recent times. Nowadays, payment gateways strive to take a solution driven approach to business. This means that a payment gateway such as EBS offers solutions to transaction related problems to their customers. This is not only helpful for your customers, but eventually becomes an effective and profitable solution for the payment space itself.

Payment gateways, as a medium for completing transactions, have gained immense popularity all over the world.

Ref links

• a href="https://medium.com/@jaysitlani/why-i-believe-the-future-of-indian-e-commerce-is-bright-inspite-of-their-recent-markdowns-3095d09a2527">https://medium.com/@jaysitlani/why-i-believe-the-future-of-indian-e-commerce-is-bright-inspite-of-their-recent-markdowns-3095d09a2527

https://yourstory.com/2017/02/e-commerce-forrester-research/

Prashant Bhurke is a technology expert. The writer has a flair for writing and he keeps on writing various articles and blogs about the payment gateway industry.