Startup

Posted 04 Apr 2020, Editor's Desk

Best Payment Processing Software For Your Business



What is the Best Online Payment System for you?


E-commerce is booming and the Digital India initiative by the Government has given an immense boost to it. Flexible payment processing software becomes necessary for your company to facilitate easier payment mechanisms for the customer. For you to choose a payment processing company, keep the following things in mind:


Low Transaction fee- The cost for the convenience given should be feasible to you


Technology- The payment gateway whether a third party or yours should be able to process the financial data put on your side 


Easy setup

Offers multiple ways for the customer to pay


Here are some options of payment processing software for small businesses:


1. PayU Money


It is the largest payment processing gateway in India and has no setup as well as maintenance fees.


Their subscription feature can help businesses get recurring payments making life easier for both the business and the customer


With a 100% online hassle-free onboarding process, makes managing payments easy and hassle frees



2. RazorPay


It’s a payment gateway that allows businesses to accept, proceed and disburse payments. It has many clients in its portfolio which makes its initializing features customer service very effective



3. CCAveue


They offer zero setup fees for startups so you can start off easily. It allows multilingual payment page in 18 major Indian and international languages and also has 200+ payment options



4. Cashfree


Cashfree payment processing software provides the widest range of payment options. From net banking to popular wallets, to credit and debit cards options along with the widest range of pay later and cardless EMI options



5. Mobikwik


MobiKwik has gained immense popularity in India due to its flexibility. They offer solutions to both individual users and businesses.


It is mobile friendly with a solid analytic dashboard



6. InstaMojo


It is one of the fastest-growing payment processing software for small business


This platform allows new merchants to create a merchant account instantly to collect online payments with ease with or without a website.


The platform is a full-stack transactional platform empowering merchants with simpler processes. 


Charges of Instamojo are quite reasonable



7. PayPal 


The biggest advantage with PayPal is that it is a global player, so if you deal with a lot of international consumers then getting PayPal integrated as you payment processing partner makes a lot of sense. 


Features like barcode scanning, bill me later, inventor tracking makes it advisable for businesses to use this platform. But its unique feature of Transaction dispute where it holds the money in the account for 180 days if there is a scam or a fraud ensures protecting of both the seller and the buyer



8. PayTM 


Paytm became a leading payment processing gateway due to its online consumer base with ‘Paytm Cash’ wallet especially after Demonetisation. This made PayTM a preferred choice of many small e-commerce merchants  


Finding a payment processing software depends on a few factors listed at the beginning of the article. One should choose that particular payment processing software that suits the needs of the SME and is aligned to their product offerings.



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