We’re in an era where technology has become an important part of our lives. Each
and everything we use for our daily life works is upgraded from time to time. The use
of technology is everywhere, in our houses, educational institutes, even the device
we are using to read this article also uses technology. But when it comes to
transactions, still there are some places where we use traditional ways of cash
payment, instead of knowing the fact that it will consume much time and hassle but
still, we are using it just because we are unaware of the innovation of payment
gateway for unregistered businesses.
Let us know more about this new magic wand that will help them in the upliftment of the
unregistered businesses.
If you’re looking for the top 5 payment gateway for the unregistered businesses in India, well you’re going in the right direction.
Now let us know more about the benefits that will be provided by implementing a payment gateway in your online business.
• Robust security:
One of the most important advantages of using a payment gateway
is that, it has enhanced security for both the business and the consumer. It
helps to decrease the chances of credit fraud and other security risks. The details
used during the transactional activities are encrypted and no other person can
misuse them.
• Cost efficient:
It does not require any kind of offline infrastructure or a large team
to manage and keep records of all the business-related transactions. As it helps to
manage the transactional activities smoothly and effortlessly. From the business
investment point of view, it is very cost-efficient.
• Increases sales ratio:
In offline shops, you can deal within a particular area but by
making your online visibility and utilizing a payment gateway in your online business
you can extend your business in a wide area. And the customers can easily deal
with you without the hassle of cash payment.
• Higher flexibility:
When it comes to flexibility payment gateway provides higher
flexibility by accepting cashless transactions from a wide range of customers in
variant ways. It helps to grow and enhance your business by providing payment
flexibility to customers, making them more comfortable and providing ease to
them. Now more number of customers can deal with you to escape from the hassle
of offline shopping.
• Easy Integration and Manageable:
It is a secure and easily manageable way of
performing transactions. It does not require any vast or tough process. You can
easily send and receive transactions of your business. It also reduces the chances
of credit fraud among customers and organizations.
So these are all the benefits of implementing a payment gateway in online business
strategy.
But we can’t deny the fact that everything isn’t easily available for everyone. The registered
companies are implementing payment gateways but still, about 20% of the businesses are facing
a lot of issues because they are not registered. Payment gateways are playing a virtual role in
making online business transactional activities faster and smoother. But, there are also
some policies of payment gateway companies that you’ll probably not going to like but are the problems that the unregistered companies have to face.
Let us look at the problems faced by unregistered companies using payment gateway-
• Most of the payment gateway companies usually need a complete registration of themselves and their business registration for using their payment gateways. In this type of situation, the unregistered companies will not be able to implement the payment gateway services in their online businesses.
• Even if your company is registered, some payment gateway companies still don’t accept the companies having registration outside the country.
• Some of the prohibitive B2C portals require a merchant account to use the services of a payment gateway.
• Most of the payment gateway companies require proper documents about the businesses and they create their own point of view that the unregistered companies are not genuine. And the documents they are providing are not correct.
So, these are the major problems that unregistered businesses are facing, let us
move and discuss about the solution of this problem.
Coming to the solution for this issue faced by different businesses, here are the Top 5 Payment Gateways for Unregistered Businesses-
• PayPal: It is an American multinational financial service providing company that provides online transactional services in many countries.
• Lyra: It is an Indian financial services providing company, and also one among the most continuously growing platform used for online payments.
• Razorpay: It is a platform used for online payments, which allows payment collection to the customers via multiple channels like SMS, e-mail, what’s app,
Chat boats and messenger.
• Square: It is an online payment platform invented in the year 2009, mostly used in major countries including the UK, the US and Canada.
• Payervault: The last and the best payment gateway, Payervault is developed by Corplustech and is also one of the top 5 payment gateways that unregistered companies can implement in their online businesses without facing any sort of issues due to policies of companies and set up your account within 2 hours for free, free integration and free annual maintenance charges.
So these were the top 5 payment gateway for unregistered businesses.
Here are the benefits that the unregistered businesses will get through Payervault.
o Payment Collection: -Provides a trusted and secured way to send money online
o Payout: -Quick and secure way to receive money.
o 24/7 easy transactional activities of businesses.
o Easy and hassle-free account setup and free integration within 2 hours without the requirement of any long process.[Fastest and Free registration and setup in India]
o Company’s registration is not mandatory, unregistered companies can also implement this in their online business, which will help them a lot in their growth and upliftment.
o It is a secure means of online transactional activities with enhanced security, which helps to protect companies from credit fraud.
o Its main objective is to provide payment gateway services for every Indian business so that all Indian businesses can grow online and uplift their business scale.
o Minimal documents, Easy and Free Setup within 2 hours- In the integration process proper customer details like Adhaar, PAN and bank details are verified so that no fraudulent activities can take place or misuse of any confidential information can occur.
o Lowest-ever Charges in India– It does not require any kind of offline infrastructure or a large team to manage and keep records of all business-related transactions. As from the business investment point of view, it is very cost-efficient [lowest transactional charges in India plus free setup, free integration with other platforms and free annual maintenance charges so that every registered or unregistered Indian business can easily afford it.]
Let us take an example to understand this in a better way
Suraj was a businessman from Rajasthan, and he was dealing in grocery items
wholesaling. It was a startup. He was running the business with the motive of
expanding his business in a wide range. For a time phase, all things were
running well but after some days he noticed that his business was going in
loss and everything was going in the wrong direction. He was very worried at
that time and couldn’t find out the reason behind this situation. One day he
asked his accountant to go through the account and after going through it
they found that about 60% of the customers hadn’t paid their credit amount
for the goods they’d purchased. And only the customers from nearby areas
deal with him no new customers are coming. He finally came to know about
the whole problem. He researched a lot and finally came to know about
online businesses with cashless payments. After being aware of this innovative
idea of business he decided to utilize this idea in his business. After
implementing this soon he found that the condition of his business was
improving with time. Instead of being an unregistered start-up business, with
the help of Payervault cashless transaction was also running smoothly and
easily. Now customers in a wide range are dealing with him. By making his
online visibility enhanced along with Payervault he was successful in
expanding his business in a wide range. And soon he recovered from the loss.
Now he was aware of the benefits of online business and cashless
transactions through a payment gateway. Through this idea, he was also
giving payment flexibility to the customers, which was preferred a lot by the
customers. The customers can place the order and make the payment easily
by the help payment gateway. So, in this way, Suraj made the right decision for
his business which resulted in profit for him. And all the things were easily
manageable. “Change is a part of life and sometimes we need to change our
previous ways and techniques to utilize innovative ideas for our benefits
and ease.”
These are all the benefits that the unregistered businesses or start-ups will get
through Payervault, and they can also be uplifted. Contact us now, and start the
integration of our payment gateway easily in your online business, without the hassle of registration.