Robust online payment solutions are key to business success. It is important to look at various aspects of payments platforms to ensure enhanced Pos (point of sale) experience and greater customer experience.
-
- 3 minute read
Picking the right online platform is a critical step and defines your online payment journey. The right selection of Shopify payment gateway makes your customers come back for more. With customer behaviour changing at an unprecedented speed, thanks to expanding internet connectivity in the country, it is important to be omnipresent with your business backed by a robust payment gateway to support online payment methods. The expanding internet coverage in the country has virtually brought urban and rural markets on the same page and thrown open new avenues of online business and online payment solutions. Shopify Payments India is one of the leading e-commerce platforms that lets businesses set up online stores irrespective of their size. From products to classes to memberships, one can sell anything under the sun via Shopify.
Prospects of Online Payments
The astronomical rise in the number of mobile users and data usage in India indicates the prospects of online payments and the importance of a secure and robust payment gateway. By the end of September 2021, India had 834.29 million internet subscribers (broadband and narrowband). Notably, 37.67% of the internet subscribers belonged to rural areas. The monthly average data consumption per wireless data user in India stood at 14 GB in June 2021 as per the Department of Telecommunications (DoT) report. In March 2014, the data consumption per wireless data user monthly (average) was 61.66 MB. These numbers indicate the potential in the online payment market, as well as reflect the needs of the users who look at a diverse experience led by robust security networks for transactions on online payments platforms.
However, the question remains: Which payment gateway is supported by Shopify and how can I integrate the payment gateway of my choice? Let us take each of the questions one by one.
Payment Gateways Supported By Shopify
Shopify Payments India gives you the freedom to select the payment gateway and begin your online selling journey within no minutes. The right choice of payment gateway is crucial to starting a fulfilling user experience journey. It is also essential to support it with well-integrated online payment solutions. In a bid to integrate your chosen payment gateway on Shopify Payments, you need to have the required plugins built by the respective payment gateways on the respective payments platform for a fast interface. “PayU India provides you with a well-integrated payments platform” that makes your pos payment experience, a story of just a few clicks”.
Acceptance of A Boutique of Payment Sources
Shopify store supports a slew of payments sources, such as:
- Credit cards
- Debit cards
- Net banking
- Digital wallets
- Bank transfers
- UPI
- Cash on delivery
- EMIs
It also supports Buy Now and Pay Later online payment methods that can help you enhance customer experience and customer loyalty to the brand. PayU, India’s robust payment gateway, allows you to switch and choose among the various payment sources with ease and convenience.
Shorter And Smarter Payment Settlement Period
The payment settlement period is the time taken by a payment gateway to interact with the source to fetch money and settle payments. The payment settlement period is a success for both the customer and vendor if it is shorter and smarter. With a robust infrastructure, this can be achieved through payment gateways, such as PayU. The “right choice of payment gateway enables you to get settlements on the same day”, choose PayU.
The High Transaction Success Rate
The loading time to the “payment success page is essential to a good customer experience” as it is when your customer decides to choose a payment gateway. It is, therefore, critical for a payment gateway and the online payment processors involved to record a high transaction success rate, which will magnify the brand visibility among customers across online payment channels. PayU India’s smart algorithms enable its users to record the highest transaction success rate without hiccups.
Steps To Integrate Payment Gateway On The Shopify Store
A few simple steps can enable you to integrate the PayU payment gateway on your Shopify store. Follow the instructions given below:
- Go to Settings on your device and select the online payment provider.
- Click and add the online payment provider.
- From the DropBox, select a third-party payment gateway.
- Fill out the online form.
- Click to activate your online payment gateway.
Payment Gateway Fee On Shopify
The payment gateway fee or online payment fees is critical when selecting a Shopify payment gateway. Payment gateway providers ask for different charges. As a business or individual seller, you should be aware of all payment gateway charges before choosing. Some of the common charges asked by a payment gateway provider include:
- Setup charges for payment gateway
- Maintenance charges for a year
- Integration charges for a smooth online payment experience
- Merchant discount rate for an enhanced experience
It is important to note that, along with these payment gateway charges, Shopify platform charges are also applicable. Therefore, “before you click, do a quick check on payment gateway” for integration level, transaction success rate, additional features offered, and overall payment charges involved.
