Considering the year 2020, many parameters of Online Shopping have changed. Customers are now demanding Online Payments on the eCommerce website. Do you know, many people won’t buy your product if you don’t have their preferred payment gateway? There are many preferred payment gateways like PayPal, InstaMOJO, Stripe, RazorPay, M-Pesa, etc for Online Store owners.
Let’s dive in a little deeper and see things from start.
To begin with, you will first need a way to accept the payments online. To accept it, you can use a payment gateway to make things easier and faster.
The payment gateway is a solution using which you can accept online payments. Customers can pay through various online means such as debit/credit card, net banking, UPI, etc. The number of ways depends on the payment gateway you are using.
The payment gateway will collect the payment from the customer and thereafter, it will send a confirmation response to your eCommerce website. Your store will automatically capture the response and mark the order as successful or it will show failure in payment.
Most of you might be getting the point here by now. Razorpay is a payment gateway that allows you to collect payments from an eCommerce website. It integrates with your eCommerce website to mark the orders from “pending payment” to “payment successful”.
Razorpay acts as a middle man to collect payments from customers using their desired payment method whether they want to pay you through UPI or they want to pay you using wallets, you will get the amount directly in your bank account from Razorpay. As a middle-person, payment gateways have a small transaction fee that you will have to pay on every successful transaction.
It’s super easier to set up a Razorpay payment gateway for an eCommerce website. You can simply head over to the official website and complete your registration. You will have to add the documents to make things simple. Thereafter, you can surely see the interaction docs which you can pass on to your developer.
If you are using CMS, you can directly integrate it. Razorpay Supports all the popular CMS including WooCommerce, Prestashop, etc. You can easily integrate the payment gateway on your website.
There are many reasons why Razorpay is the best payment gateway for an eCommerce store, here are a few of them.
To summarize, this was all about Razorpay. Razorpay is one of the best ways to accept payments on an eCommerce store. If you have a huge amount of daily transactions, you can request an enterprise plan which will remove the transaction fees. So, you can also request it if you are selling high-ticket products. For the rest of the people, the standard plan is the best. There are no hidden fees here.