Over the last few years, the Indian startup ecosystem has seen rapid growth. Today, more and more individuals are brainstorming new ideas and starting their own business ventures online. Although there are many aspects of running an online startup, choosing the right payment gateway is of utmost importance. With that in mind, we are sharing some factors that will help you evaluate the different payment gateways and select the right one for your startup. Let’s begin!
6 Ways to Evaluate the Feasibility of a Payment Gateway In India
Below are some factors that you should take into consideration to select the best payment gateway for your startup :
It Should Be Easy To Integrate and Use
You are just starting off, so you would not want a payment gateway that is too complicated to integrate with your site and needs technical expertise to use. This is the first factor to look for while selecting a payment gateway in India. Make sure it offers easy initial setup through plugins or extensions that are compatible with your website. For ease of use, make sure that the payment gateway you’ve selected can be easily used by your team.
It Should Offer Robust Security
Security is another way to check the feasibility of a payment gateway in India. If a payment gateway doesn’t come with enough security features, then there is no point in using it. If you do it otherwise, you may end up risking your startup. Therefore, check for robust security features such as SSL certificates, PCI-DSS compliance, data encryption, two-factor authentication, tokenization, and so on. Here is a payment gateway you can check out for advanced security features: https://www.cashfree.com/payment-gateway-india
It Should Be Cost-effective
Startups take time to flourish and thrive. You will not start earning well from the very first months, which is totally fine. In this situation, if you select a payment gateway with very high charges, you may outgrow your budget, which in turn will affect your business operations. So, when evaluating a payment gateway in India, make sure it offers competitive transaction rates and other charges. Further, there are many reputed payment gateway providers that offer zero-cost installation, thus, you can integrate a payment gateway for free.
It Should Offer Global Business Support
Today, a majority of startups start targeting the global markets from the very beginning. It offers them better business opportunities and chances to make higher conversions. If you’re also planning to take your startup in the global markets, then consider having a payment gateway with global business support. By global business support, we mean that the selected payment gateway should offer features like multiple global payment methods, multiple currencies, multiple languages, etc.
It Should Offer Simple Checkout Experience
If you want to get a firm foothold in your target industry and make a lasting impression on your customers, then you must provide them with a simple and quick checkout experience. For this, look for the features like multiple payment methods, one-click payments, faster-loading speed, etc.
It Should Offer Reliable Customer Support
Last but not the least, check for reliable customer support. The reason is, you never know what may get wrong with your payment processing operations. In such cases, you should have a team of technical experts who can help you in solving such issues.
And that’s it.
We have discussed all the simple ways using which you can evaluate and select the best payment gateway for your startup. Just keep these points in check, and select a suitable PG for ensuring the success of your newly established business.