Tag: payment gateways

  • How to Set Up Your Shopify Store? | Complete Guide for a New Shopify Store Owner

    Every new business is brought into existence for two motives, the first is to earn high profits, and the second is to provide the people with what they need. This is both an enthusiastic and overwhelming affair. Making a difference in the world with your products, especially in the eCommerce industry, means you’re on the verge of something very big.

    Whenever you head out to buy products online, you always vouch for the platforms that are the most promising. You trust these online stores as they have delivered their best products to you or others. Shopify stores are perhaps the most efficiently launched and managed online businesses. From selling consumer goods to selling technical equipment, this eCommerce platform has mastered everything.

    So, if you want to break into the industry of eCommerce hassle-free, then you can start walking towards building your new Shopify store. Shopify Dropshipping Store aims to solve all your problems with inventory management if you can not afford a brick-and-mortar concept. The need to carry any of the products you sell will be eliminated, ensuring affordability, flexibility, and opportunity.

    This article is a guide for all the new Shopify store owners or to-be owners who are unsure where to begin. It will guide you through every step of how to set up a Shopify store from scratch.

    Things You Should Consider Before Starting a Shopify Store
    How to Set up Your Shopify Store?

    Things You Should Remember After Opening a Shopify Store

    Best Shopify Store Examples for Inspiration

    Things You Should Consider Before Starting a Shopify Store

    Here are some factors you should consider before creating a Shopify store:

    • The amount of investment you want to contribute to your venture.
    • The line of products you wish to deal in.
    • The number of countries you want to operate in.
    • Creating a mobile-friendly user interface.
    • Learning some basics of SEO.

    You can start your eCommerce business on Shopify with a free 14-day trial and pick a plan later for your store. You have three options to choose from – Basic (29 USD), Shopify (79 USD), and Advanced (299 USD). All these are monthly packages.

    Shopify Special Offers

    Apart from giving a free 14-day trial, Shopify has now come up with an amazing offer that allows you to enjoy up to 97% off for 3 consecutive months on selected plans. This offer is, however, for a limited period of time. The new Shopify stores can avail of this by selecting only a paid ‘Basic’ or ‘Starter’ monthly plan of Shopify before 25th August 2022. The discount will be applied after the creation of one’s store. After that, you can go on with launching your store and start selling.

    Shopify also offers some discounts on its yearly plans. It offers a 10% discount for a one-year plan, a 20% discount on a two-year plan, and 25% when someone pays for a three-year plan in advance.

    How to Set up Your Shopify Store?

    If you are a newbie and want to know how to set up your Shopify store then the following steps will guide you to set up your store easily:

    Shopify's Total Revenue from 2016 to 2021
    Shopify’s Total Revenue from 2016 to 2021

    Login to Your Shopify Account

    If you don’t already own one, the first thing you’ll need to do is create a Shopify account. Simply visit the Shopify website and select the “Start Free Trial” option. Fill in your business name, email address, and other asked details. Following this process, you can start building your store immediately. At this step, you can select any monthly or yearly plan as per your preference. In cases of yearly plans, Shopify offers up to a 25% of discount.

    Add Relevant Products

    When you click on “Add Products” in the Home tab, you will be redirected to where you have to create your product page. Include all the information related to the product—high-quality photos, relevant keywords, and a detailed description of the product. All the data you are adding must be genuine and worthwhile enough for the client to buy it.

    Keywords will help the products rank higher on SERP. This will lead to the maximization of potential leads. You just have to focus on converting these potential leads into potential customers. Make sure the images you choose are high resolution and show a clear view of the product, as it will make or break the main sales. Choose your product prices wisely according to the product niche you are targeting. Try to stick to industry pricing only. You can neither be extravagant in charging your customers nor take the downside.

    Include various categories of products in your offering, giving the shoppers the benefit of choice. For example, if you are choosing a shoe website. Then make sure that you inculcate a variety of shoes to fulfil the needs of various types of customers belonging to different locations.

    How to Set up Your Shopify Store? | Add your products
    How to Set up Your Shopify Store? | Add your products

    Personalize the Look of Your Shopify Store

    Mastering the outlook of your website is the main task. The main work of creating the product page and adding all the product categories is done, which means 80% of the work is done. Your Shopify store now lacks some attractive and polished looks, which you will add with the help of various themes available. Browse through the themes you wish to add to your store. Here, you might choose to spend an extra penny because every customer gets attracted to vibrant and colourful websites. Customization works best at this moment.

    You can edit your main menu, the main banner of your Shopify store, and the header and footer. If you want to make your Shopify store look more appealing, add vibrant fonts, brand colours, and buttons that will be reflected across the website.

    Shopify provides a beautiful theme that makes the website look elegant. But customization will allow you to add the necessary elements to your store through which the shoppers can relate to your story. Creating and building a brand is a huge task, and customization will act as a stimulus in this process.

    The main menu is either displayed all across the header or displayed in the sidebar as a list of items. Don’t forget to make the main menu simple to operate. The checkout must be customized properly to ensure that the users find something very special about the order they are placing. Tweak a few settings like the background image or colour, allowing the website to have a more polished outlook.


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    Decide the Shipping Method

    Select Shipping in the settings menu and set up your shipping options. All the delivery companies of the third party must be entered, and the dimensions of custom packaging must be included if you have an option. This setting allows you to determine and add whether you are delivering in the local area or if a local pickup is scheduled.

    Set up the Taxes

    Taxation details are something you need to take extra care of as these will be included within your product details. This involves a serious investment of time to check that all the details have been filled in properly or not. All the relevant information regarding additional taxes and costs must be disclosed to the customers before they make their purchases. The Shopify taxes and international shipping charges must be included under the products section to ensure complete transparency.

    Register Your Domain

    Adding a domain name will make your website official. In this step, you can take plenty of time to decide which domain suits your Shopify store the best. You can either purchase a domain from Shopify (starting from 11USD per year) or you can also purchase the domain from elsewhere (price ranges between 10-20 USD per year). Also, you get a free domain (.myshoipfy.com) on sign up. After purchasing the domain, you just have to add it to your Shopify store to make it official.

    How to Set up Your Shopify Store? | Sign-up form
    How to Set up Your Shopify Store? | Sign-up form

    Connect the Payment Gateways

    The Shopify store is almost done, and connecting payment gateways is the last thing you need to do. By clicking on the Payments option, you will be redirected to a page with many payment gateway processors. This will require adding the last 4 digits of your SSN (Social Security Number). You also have to sign up for Shopify Payments by entering your personal, business, product, and bank account details. This will enable you to accept payments from the customer. Popular payment gateways generally accepted and used include PayPal, Authorize.net, and Stripe. However, you can also connect to a third-party payment processor.

    Launch Your Store

    Your Shopify store is now created and it’s time to launch it and start selling your products. Generally, in Shopify, the stores are protected with passwords as the owner is expected to edit the website at the back-end. But when you are ready to launch your store, remember to remove the password protection before you start selling. This is the final step, and you are all geared up to start selling on your Shopify store. Now, you can also initiate running ads for your Shopify store and reach potential buyers to climb the ladder of success by releasing the Shopify store to the public.

    Percentage of number of Shopify shops by region as of 2021
    Percentage of number of Shopify shops by region as of 2021

    Things You Should Remember After Opening a Shopify Store

    If you want to focus on gearing up your profits and building up big fat brand loyalty, then make sure that you remember to add value to your Shopify store with the help of the following points:

    Regular Modification of Your Website

    Check and modify your website at regular intervals. As the world is an ongoing land of process, the dynamics are very frequent. You cannot stick to a particular method of operations. You have to adapt to the changes in the market. Your Shopify store must be updated with the latest trends, themes, and products. Your marketing operations must modify to newer techniques to drive a good amount of traffic which will ultimately help you rank higher. You must also keep a regular check on the overall optimization of your website now and then to know whether the visitors are attracted to it or not.

    Conduct Search Engine Optimisation

    Search engines play a very vital role in the selling process. The higher the ranking, the higher will be the traffic to your Shopify store. After the creation of your Shopify store, you must plan to conduct keyword research and update your product description accordingly from time to time. You also have to ensure that your website does not contain complex categories and subcategories as a simple website will help the search engines to locate the keywords in your store better and help your products to rank higher. A good Search Engine Optimisation will amplify the traffic on your Shopify store, so don’t forget to obtain the maximum benefit of this technique.


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    Monitor Your Analytics

    Check the analytics of your business regularly after you have launched your store. You cannot leave your store in isolation as reviewing your store’s recent activity is very crucial for maintaining quality in operations. Your store’s user experience, insights about the likeliness or preferences of the shoppers, and overall operations must be kept in a regular check. This will help in the upgrowth of your Shopify store.

    Adherence to the Shopify Policies

    Shopify aims to give the best commercial online platform along with certain rules and regulations that you must comply with. After opening your Shopify store, remember to operate it as per the Terms of Service and Shopify Acceptable Use Policy. There are certain policies related to the import and export of goods between countries, so you must give proper adherence to them in order to sell your products internationally.

    Conclusion

    Even though there are a number of all-in-one eCommerce software solutions available, Shopify Store remains at the top of its game. Through this Shopify store guide, you can construct a powerful online store in a matter of hours, including inventory management, order management, and more.

    Shopify has assisted thousands of established entrepreneurs who have started creating their Shopify stores from scratch, with no coding skills required. Thus, it is an amazing eCommerce platform for all and the above-mentioned guide will help you yield great results as a new Shopify store owner.

    FAQs

    What is the average revenue per customer in a Shopify store for 2022?

    The average revenue per customer in a Shopify store was found to be 92 USD in May 2022 as per Littledata’s survey of 2,361 Shopify Stores.

    Can I have multiple Shopify stores in one email?

    Yes, you can have multiple Shopify stores in one email, but you cannot have multiple stores on one Shopify account. You need multiple accounts (that can be linked to one email) for having multiple Shopify stores.

    Does Shopify charge any extra bandwidth fees?

    No, there are no extra bandwidth fees in Shopify. All of its plans include it for free.

    Can I use my own domain name instead of buying it from Shopify?

    Yes, you can use your own domain name instead of necessarily buying it from Shopify. Although, Shopify also provides a free domain name (myshopify.com) to all the stores on sign-up.

  • Everything You Need to Know About Online Auction Websites

    We use the internet for almost every process, ordering a pizza, buying a television, sharing a moment with a friend, or sending a picture over instant messaging. The internet has revolutionized everything and will continue to do so in future as well. It has transformed traditional businesses into online businesses, a traditional marketplace to online marketplaces.  One such marketplace that the internet has given rise to is online auctions. It isn’t something new online auctions date back to 1995, later that people found online auctions as a vast online marketplace to buy and sell anything to everything.

    Online auctions have considerably increased the variety of goods and services that can be bought and sold using auctions along with expanding the possibilities of conducting auctions. In the current web environment, there are hundreds, if not thousands, of online auction websites dedicated to online auction practices. In this article, we will talk about everything you need to know about online auctions. So, let’s get right into the business.

    What Is an Online Auction?
    Types of Online Auctions
    Is Online Auction and Bidding Legal in India?
    How to Run an Online Auction in India?
    Benefits of Online Auction Sites
    Drawbacks of Online Auction Sites
    How to Protect Yourself Against Online Fraud?

    What Is an Online Auction?

    An online auction is an auction that takes place via the internet, allowing users to sell or bid for products and services online. Online auctions allow sellers to reach larger audiences, in different locations and geographical areas. Different sellers offer different kinds of products on a web-based platform.

    Online Auction Market
    Online Auction Market

    Types of Online Auctions

    Live Online Auctions

    A Live Online Auction is a combination of a Live and Internet Auction. You can bid live and onsite at the Auction or you can bid live from your computer at home or work. An online clerk will relay your bids to the Auctioneer and you will bid against floor bidders who are at the auction and other online bidders. The Auctioneer will ask for the next bid increment, If someone bids for $60 the online clerk will update the asked bid and your screen would show that the requested bid is $60. This process will continue until there is no further competitive bidding.

    Online Only Auctions

    An online-only auction is an auction that is held online only and there is no life in-person bidding available. Bidding can be done from your computer with an internet connection at home or at work. This type of auction will be a catalogued auction with each item having a lot #. If a bidder is interested in Lot #12, they have to register and place a bid on lot #12. This process of bidding occurs up until the scheduled lot time is closed.

    It is perfectly legal to start an Online Bidding Auction site in India. Before doing that you need to follow some steps and they are:

    • You will be required to comply with various provisions of the Information Technology Act.
    • Your domain name needs to be registered.
    • Online Payment Gateway should be RBI approved.
    • You should have a dedicated 24×7 customer helpline.
    • Your company should be registered, trademark and copyrights also need to be registered.

    How to Run an Online Auction in India?

    Once you decide to hold an online auction, you need to follow several steps and those steps are:

    Registration at Online Auction Sites

    The first step for both the buyer and seller before participating in an online auction is to register on an online bidding site. There are several online bidding sites available where you can register yourself as a Seller or a Bidder. Registration is required to keep track of the items you bid on or sell.

    Listing the Items on the Online Auction Sites

    If you are a seller you can list one or more items for sale on the bidding site and set up a starting price for bidding. The seller is expected to give a complete description and specifications of the items on sale. Mostly, a specified time period is set up for bidding. In some cases, the bidding process takes place live on a specific date at a pre-specified time when bidders log in with their IDs and place their bids.

    Listing the items on the Online Auction Sites
    Listing the items on the Online Auction Sites

    Setup a Payment Method

    If you are the seller, you have to set up multiple payment options for the convenience of the buyers, which include RBI approved payment gateways like – CCAvenue, Oxigen & PayPal or Debit Cards, Credit Cards, Wallets, PayTM, UPI, Net Banking, Cash Cards & EMI options.

    Bidding on Online Auction Sites

    Buyers visit the auction website, select the preferable item and bid on them during the online auction duration a specified time for the auction is allotted for every item.

    Online Bidding

    The online bidding for each auction closes at the specified time. In the case of multiple bidders, the bidder with the highest online bid at the end of the auction is likely to buy the items. If there is no online bidding at or above the reserve price, the auction closes without a winner.

    At the end of a successful online auction, You can communicate with the buyer over an email to arrange for payment and delivery of the goods. The sale is at the discretion of the seller. It is the choice of the seller to sell or not to sell the item to the highest bidder.

    Benefits of Online Auction Sites

    Some of the benefits of online auctions are:

    • Better Deals on products
    • Variety of products
    • No need to physically attend the auction

    Drawbacks of Online Auction Sites

    There are some drawbacks of online auctions as well and they are:

    • A website may go down for multiple reasons.
    • Since attending an online auction is easy, everyone can join in. That means you will have to outbid a lot more people. And that becomes harder as the number of bidders goes up.
    • You don’t get to inspect the item you are bidding on. Sometimes the pictures of the products can be misleading.

    How to Protect Yourself Against Online Fraud?

    Use Sites That Contain Only HTTPS URLs

    If you are on any site that you are looking to make a purchase from or enter personal information into, make sure that the secure icon is displayed, and that the very first letter preceding the “www” is https://. By virtue, HTTPS encryption is done bi-directionally, which means that the data is encrypted at both the client and server sides.

    Use Strong Passwords

    The more complex your password is, the more security it provides for your account. By using a simple password, it becomes very easy for a hacker to simply guess your password without even having to know you or take further action. When creating passwords, use strong password criteria such as passwords that contain multiple instances of numbers, upper and lower case letters, and special characters when available. Make sure to change your passwords from time to time.

    The basic method for cybercriminals is to send out a mass e-mail containing an attachment or a hyperlink. The attachment is malware and any hyperlink will be a website masquerading as something legitimate. The goal is to trick the e-mail recipient into downloading the attachment (exposing their PC to the malware), clicking the link to a website that may be infected with malware, or asking for confidential data such as credit card numbers to be entered.

    Keep Personal Information Confidential

    Unless you are very confident about the site you are using, be wary of entering information on sites that are looking for your personal information. Be especially wary of sites asking for any financial information, address and birthday, or middle names. Most sites do not need this information and have very little use to collect this, especially all in one place.

    Even after all these if you fall victim to online auction fraud in India, you can consult a cyber lawyer and file a complaint about online fraud with the cyber crime cell in your city.

    Conclusion

    Even though the online bidding process is transparent, one cannot eliminate the chances of fraud when entering the online bidding market. Online auction sites Display a wide range of goods and are a growing community of buyers and sellers. Online auction sites are a prime example of how the internet has changed the ways in which modern business works and the endless possibilities the internet holds.

    FAQs

    Online auction is legal in India and there are many websites that host them.

    Which is the largest online auction suite?

    eBay is the largest online auction site.

    What do you mean by online auctions?

    An online auction is an auction that takes place via the internet, allowing users to sell or bid for products and services online.

    What are the two types of online auctions?

    There are two types of Online auctions and they are:

    • Live online auctions
    • Online only auctions
  • Top 10 Countries Leading in Real-Time Payments

    With the advent of cheap, a large number of countries are trying to go cashless. Going full digital will also help Government track their money better. Almost every country has devised its own payment app. After the pandemic, there were about 70 billion digital transactions that happened in 2020 alone. A number of people have now turned to online shopping at present. This is why in every country there was a surge in digital shoppers. Globally, the total transaction value in Digital Payments is expected to reach US$8,562 Billion in 2022.

    But what is real-time payments you may ask, Realtime payments are platforms or networks via which online payments can be made 24/7.

    So, let’s look at the Countries with the most real-time payments. These countries have innovated significantly in their digital payment space. This has enabled the common man to make transactions digitally.

    Real-time transactions of different Countries in 2020
    Real-time transactions of different Countries in 2020

    Countries Leading in Digital Payments

    1. India
    2. China
    3. South Korea
    4. Thailand
    5. United Kingdom
    6. Nigeria
    7. Japan
    8. Brazil
    9. USA
    10. Mexico

    India

    Digital Payments App usage in India
    Digital Payments App usage in India

    India has the most real-time payments. It seems that India has successfully designed payment technologies that can be used by the common man. India has a number of apps that are reliable for digital payment.

    Companies like Paytm and Google Pay have pioneered digital payment in India. They have made digital payment accessible to the common man. The main game changer was UPI. This is what led to such high digital transactions. Paytm has also enabled QR-based payment for any kind of small business. This is why anyone could digitally pay anybody. After the pandemic, there was a significant rise in online shopping and which gave rise to digital contactless payments. Digital transactions grew close to 90% in the three years from FY19 to FY21. The value of digital payments in India in 2021 was 300 billion. In the financial year 2021, around 44 billion digital payments were recorded across India. Total transaction value in the Digital Payments segment is projected to reach US$142 billion in 2022. Market experts and statistics predict that it will grow to reach 1 trillion by 2026.


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    China

    Digital payments apps popularity in China
    Digital payments apps popularity in China

    China has a huge amount of online transactions and it has a number of online payment app like Alipay, Wechat Pay, ApplePay, Tenpay, and others. AliPay and wechat pay are most widely used for digital transactions than any other company. A lot of businesses fully transact digitally. The businesses which operate with AliPay also transact digitally. As of December 2021, around 900 million people used digital payment transactions in China. Total transaction value in the Digital Payments segment is projected to reach US$3,225 billion in 2022.


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    South Korea

    South Korea is another country that has digitized all kinds of banking and peer-to-peer transactions in a big way. Apps like Amex, Kakao Pay and has a lot of transactions in South Korea. There are other apps like Toss Pay, Payco, T-money, Cashbee, Visa payment. After the pandemic, a lot of businesses came online and started accepting payments online. This led to increase in online payment in South Korea. Total transaction value in the Digital Payments segment is projected to reach US$ 214 billion in 2022. The digital payments in south Korea is expected to reach $ 500 billion by 2024.

    Thailand

    Thailand is another country that is doing a lot in the field of online payment. They have come up with a payment platform called prompt pay. Before pandemic Thailand had about 7 million, now it has 14.5 million transactions in the whole country. There are also other startups that are coming forward and are building solutions to make digital payment more feasible. Total transaction value in the Digital Payments segment is projected to reach US$ 32 billion in 2022.

    United Kingdom

    The United Kingdom also has a lot of digital transactions. There is a number of options for digital wallets in the United Kingdom. PayPal is one of the prime companies which provide all kinds of banking transactions. After the pandemic, there is a huge rise in online payment in e-commerce. There are also other fintech companies that are coming into the space to provide solutions in this sector.

    The UK is trying to build a very robust online payment system and the adoption of people to digital ways is also increasing. Total transaction value in the Digital Payments segment is projected to reach US$ 436 billion in 2022.

    Nigeria

    Nigeria is another country that has tried implementing digital payment methods in its territory. There are many apps like Tingg, Paga, Mobile Money. After the pandemic, the digital payment penetration is very high. Though there are other challenges like poor internet, a lot of entrepreneurs are coming forward to provide solutions in this area. The real-time payment volumes grew hugely in 2020. The Real-time volume was 1.9 billion in 2020. It is expected to reach $7.7 Billion by 2025. Total transaction value in the Digital Payments segment is projected to reach US$ 13 billion in 2022.

    Japan

    Though Japan is a very technologically advanced country, it is still making a huge amount of transactions in cash only. Experts say that the scenario will change as a lot of the younger population will start transacting through online means. After the pandemic, Japan also saw a significant rise in digital transactions. In 2021, around 5.74 billion digital transactions were recorded. Total transaction value in the Digital Payments segment is projected to reach US$ 364 billion in 2022.

    Brazil

    Brazil is also taking huge strides to transition to online payment. Though in the present, people in Brazil do 40% of transactions by cash a lot of people are transitioning to online means. There are a number of Fintech companies that have mushroomed up in order to provide service in this space. Pix a fintech software launched by Brazil’s Central Bank is used hugely in this country. Total transaction value in the Digital Payments segment is projected to reach US$ 69 billion in 2022.

    United States of America

    The United States Of America also has a huge amount of online transactions in the world. Companies like PayPal and Google Pay are leading in the USA. They have redefined banking and has made banking transaction much simpler. After the pandemic, the USA also saw a significant rise in online transactions. Total transaction value in the Digital Payments is projected to reach US$ 1801 billion in 2022.


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    Mexico

    Mexico is transitioning to digital modes of payment recently but a lot needs to be done in this sector. Presently about 85% of transactions happen through cash. Strange behavior that has been noted in the Mexican people is that they consider cash to be more reliable than online payment. Even if they are buying something on any e-commerce, they prefer cash on delivery. Apart from that, the banks are also not very innovative. Total transaction value in the Digital Payments segment is forecasted to reach US$ 72 billion in 2022.

    Conclusion

    The Covid 19 has provided a massive boost to real-time payment applications as people were confined in their homes and opted for a cashless solution.

    FAQs

    Which country has most number of digital payments?

    India is the leading country with 25.5 billion real-time payment transactions.

    How many countries have instant payments?

    54 countries have activated real-time payment systems.

    Which country doesn’t use cash?

    Sweden is a country where about 80 percent of Swedes use cards with 58 percent of payments being made by card and only six percent made in cash, according to the Swedish Central Bank.

  • Don’t Waste Time! Facts To Let You Reach The Comparison Of PayPal And RazorPay

    Payment gateway software has become an essential tool in the market. Razorpay is not only a payment gateway present. But it can be a perfect choice for your requirements.

    That is why the comparison between Razorpay and PayPal against each other is necessary. If you are reading further this article Then this is obvious that you want to know the difference between Razorpay and Paypal.

    Razorpay offers Zepo costs, multicurrency payment, online payment, invoices, etc. whereas PayPal provides analytic payment, online payment, debit card support, and many more functions.

    PayPal

    Paypal is an online application that offers to pay for items through a secure account. You just need to add the bank account details. Whenever you want to pay through PayPal, you choose which to card or account to pay from.

    Indian Brands That Use PayPal

    In case of the security for using PayPal. For once a scammer hacked your PayPal account (in case of email scam). This is possible that he can make a payment from your account. Paypal may repay the amount lost to the seller. After confirming that the account was hacked.

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    1. Features For PayPal

    Payment Options

    • Instant payment options
    • Credit and debit cards accepted
    • ACH and eCheck Processing
    • Split payments

    Administration

    • Payout time
    • Manual payment

    Security

    • Data tokenization
    • 2-factor authentication

    Development

    • Customization
    • Accounting integration
    • eCommerce integration

    Platform

    • Reliable and good performance
    • International currency
    • International operating country
    • PCI regulation

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    2. Payment options

    • Instant payment
    • Accepted credit and debit cards
    • ACH and checking processing
    • Spit payments
    • Multi-currency
    • Online payment portal

    3. Alternatives For PayPal

    • Sage pay
    • Adyen
    • Honey Book
    • Cyber source
    • iATS payments’
    • Fiserv Biller direct
    • Stripe
    • 2checkout

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    4. How to receive money through PayPal

    There are 3 ways for receiving money on PayPal. That is an email address, invoices, and PayPal. Me link.

    How To Use PayPal
    • Email address

    You can request payment who owns an email address. Once you log in PayPal click on tools and request payments. After entering the email address, put the note for the payment request.

    Paypal will send the generated link to the client to process the payment. There is no necessarily need to have a PayPal account. You can pay through credit, debit, or PayPal account.

    • Send invoices

    You can create invoices using your PayPal business account. You can customize the invoice with the company logo, schedules date, and payment frequencies.

    After updating these details in the invoice. You can send it to your clients’ email addresses. Payment can be processed by clicking on the payment link.

    • PayPal.me Link

    For a person who does not own a website. Or a college-going person who wants to collect charity money. They can use PayPal.me link to receive money. This is a link that can be shared using SMS, WhatsApp, and any other sharing app.

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    5. Summary For PayPal

    Paypal offers businesses low-cost services. Paypal has been a company since 2015. It allows a wide variety of services including debit and credit card readers. This for small merchants and in credit lines. This is a very secure method of processing payments online.

    Summary Snapshot For Pricing Of PayPal And Razorpay

    | Plans |PayPal|Razorpay(Standard)| Razorpay(Enterprise) |
    |— |— |— |— |—
    |Master card/Visa|2.5%-4.4% + Fixed fee|2% | Custom |
    |American Express |2.5%-4.4% + Fixed fee|3% | Custom |
    |Discover|2.5%-4.4% + Fixed fee|3%| Custom |
    |Debit cards|2.5%-4.4% + Fixed fee|2% | Custom |
    |Net Banking|-|2% | Custom |

    Razor pay

    Razorpay is the only converged payment option in India. This offers businesses to accept, process, and disburse payment. You will get access to all payment modes credit, debit, UPI, and wallets.

    Businesses That Use Razorpay

    You can process the payments with ease without any risk of data theft. Razorpay uses SSL/TLS certificate. This makes sure that no unauthorized person can use your data.

    1. Features For Razorpay

    Razorpay is a secure and convenient way for payments. This is a reliable payment safe option that does cause any hassle.

    • Responsive cross-platform payment solution for the website.
    • Accept international payments.
    • Easy to start and end payments on the same page.
    • Availability of pop-ups to show important texts.
    • Availability to views previous transactions, earnings to generate reports.
    • Get the availability of new payment modes.
    • Safe and secure options.

    Razorpay Success Story- Facilitating the SME’s with effortless online payment mechanisms!
    When smartphones and the internet took the world by surprise, it opened multipleopportunities for different sectors to pioneer the evolution of a morecontemporary world. One of these sectors was the online payment industry. In thesame field, with the vision to revolutionize the online payment mec…

    2. Payment options

    • Debit card
    • Credit card
    • Net banking
    • UPI
    • EMI
    • Bank transfer
    • Supports Wallets

    3. How to receive money using Razorpay

    | Application Name | Description |
    |— |— |— |—
    | Invoices |Creating and sending GST compliant invoices that customers pay online instantly. Get paid and faster cash flow.|
    | Payment Links| You can share payment links using email, SMS, messenger, or chatbot and get paid. You can accept payments from clients is now just a link away.|
    | Payment Pages |You get to take your store online with 0 codings. You can also accept international as well as domestic payments with automated payment receipts.|
    |Smart Collect|You generate virtual bank accounts and UPI-IDs on demand. And accept payments using NEFT, RTGS, IMPS, and UPI. you get notified for each incoming payment. |
    |Subscription via Links | You can now offer customers subscription plan with automated recurring transactions. This is built for automation. |

    4. Alternatives for Razorpay

    • Paypal
    • Stripe
    • Paytm
    • Recurly
    • Braintree
    • Adyen
    • Zuora
    • Chargify

    Instamojo – Aiding the Indian MSME’s with effortless payment gateways!
    All of this time and generation is about making things easier, be it shopping orpayment. Now, when you ought to make things easier for the consumer, it becomesimperative to make it easier for the service providers as well. Following thesame thought, Sampad Swain, Akash Gehani and Aditya Sengupta …

    5. Summary for Razorpay

    Razorpay is the most exciting payment method. The supported team is committed to the customers with a transparent working. In the Indian market, we can predict an excellent future for Razorpay. This platform works with banks and commercial giants.

    Integration in Razorpay

    For international eCommerce, this would be a mistake by underestimating the importance of Razorpay. This is an ePayment that has nothing to envy of PayPal.

    Best Payment Gateways in India | Payment Gateways for Business
    A payment gateway is a merchant service that connects the users’ bank accountwith the platform where the users need to transfer their money. A bank mayprovide payment gateway to its customers, there is also specialised financialservice provider such as payment service provider which provides paym…

    Summary

    Paypal is the commonly used payment gateway for eCommerce. This is accepted by more than 203 countries. It supports visa, Mastercard, American Express, Citibank, and more.

    Whereas Razorpay supports 50 plus banks for net banking. Businesses and freelancers can accept payments by Razorpay. This is the only payment solution provided in India. This offers a business for payment processing with a product suite.

    I have tried giving you a complete overview of both the payment gateways. Try it out to get the best results for your business.