Online Payment for India based Websites

Debit Cards are the most used electronic payment method, whether withdrawal from an ATM or payment for mobile recharge online or even swiping the card in a shopping store for payment, debit cards rule. On second number Credit Cards are becoming popular for online payments on websites or may be for recurring payments. Banks in India like ICICI, HDFC etc give credit cards with or without credit check.

Credit check is different in India as compared to other countries like UK, America, etc where the credit check is a really sophisticated system. Credit Check in India consists of things like whether you are a salaried person, have good bank balance, own your house, have your business running for more than 3 years, etc and in case the bank is happy to trust you, they will issue you a credit check with a credit limit. Payments through Credit Cards are simple credits and there is normally no extra charge for the customer and the customer is supposed to pay the credit card bill as and when agreed by the bank in terms of billing cycles.

Yes Banks issue credit cards for indian users without a credit check as well. Normally two different methods are employed to issue a credit card. The first way to get a credit card without credit check is create a new bank account and deposit the card limit amount into the bank account as fixed deposit and the second way to get a credit card without credit check is get a new bank account and maintain average quarterly balance of the credit card limit.

With banks introducing new schemes and trying to give credit cards to every possible person, the usage of credit cards is going to increase. Whether using credit cards are used in a shopping mall for purchase payments or even on internet for paying in recurring or one time bills or even for shopping for any type of products and services, the credit card industry is booming and will go on to grow further and further.

In case you would like to accept online payments on your website for selling some products or services, you would need service of a payment gateway to process online payments. These Payment Gateways validate and accept Payment using their own infrastructure and take an agreed comission from every online payment and give you the rest of the money. There are many different types of payment gayeways out of which few accept only international payments and others will accept only local indian payments or international payments as well.

Depending on your website and the products / services you are going to sell on your website, you can select any of the many different payment gateways available on internet. Once the Payment Gateway has done it’s job,your job starts to provide the required products or services to the customer. In case of Software based solutions, the software delivery can be done automatic e.g sending out registration key of the software purchase or sending out ebook or even just an email to the customer that you have received the payment and what your next steps would be. Good communication with customer is required to keep good word about your website and the products / services offered by your website.

Yes there are lots of benefits of accepting Online Payments on your website or even using email communication. Accepting Online Payments comes with responsibility on technical part as well. It must be taken care that appropriate notification is sent to the appropriate person or department so that the payments received online must be appropriately dealt with. As in India almost everybody has access to a debit card, an appropriate payment gateway accepting debit cards can be a real boom to your business. In case you want to accept payments from non indian people, then taking care of credit card payments can be on priority. Documents Required to get access to the Payment Gateway for accepting Online Payments, Taxes applicable (VAT, Sales Tax, etc) & Per Transaction Charges applicable will vary depending on the payment gateway you select.