Why Will Credit Card pave the way for eCommerce Boom?

The inception of credit cards has proved to be really useful for people who prefer to avoid making payments instantly from their bank account. Credit cards have provided us the power to purchase items even when we do not have sufficient amount of money in cash or in our bank account. This is the reason why a lot of customers use credit cards for their purchases. Hence, it absolutely important for merchants to incorporate their eCommerce website with a payment gateway that supports a wide range of credit cards.

Apart from supporting different credit cards, the payment gateway should also ensure fast processing of the same. Quicker online credit card processing is very vital for any payment gateway service provider and E-Billing Solutions Pvt. Ltd. (EBS) (Part of Ingenico Group) offers great efficiency.

Stats of credit cards users in India

In order to completely understand the importance of credit cards in the growth of India’s eCommerce sector, it is vital to take a look at some of the interesting facts and figures. In March 2016, the number of credit card users in India was around 24.51 million. Talking about the number of transactions that took place through the credit cards, in March 2016, it was 72.22 million. The rate, at which the online transactions through credit card are growing, is around 27 percent, and it is really impressive.

So, if we take into account such an impressive figure, it is pretty clear that people are more willing to spend on online shopping, hence online merchants should get ready to cash in the opportunity. This can be done by availing the services from India’s leading credit card and online payment gateway solution provider, E-Billing Solutions Pvt. Ltd. (EBS) (Part of Ingenico Group).

EMI on Credit card payments

Like it was mentioned above, a credit card allows its holder to purchase items at credit, and a 50 to 52 days grace period is offered by credit card companies. Payment gateways like EBS offer EMI payment solution on Credit cards for merchants. This will enable to provide our customers an easy option of payment.

Standing instructions on Credit Cards

The payment gateway system should provide this particular feature to the customers of the online merchant. This feature allows the credit card holder to provide instruction to his/her bank to pay a certain amount of money to the payee (i.e. the online merchant). This kind of freedom certainly enhances the functionality of online credit card processing.

Risk underwriting by the card issuing bank

As a responsible online merchant, it is the merchant’s responsibility to make sure the necessary instructions and guidelines are mentioned on the page of the payment gateway companies like E-Billing Solutions Pvt. Ltd. (EBS) (Part of Ingenico Group) offers this solution for better service and security. So, those were some of the facets of today’s online credit card payment scenario. If you want to earn the loyalty of your customers, then you certainly have to provide them a reliable payment gateway like EBS.