Choose a free payment gateway carefully for your Indian business

It is needless to cite that the use of payment networks has been sky-mounted in a few years. More and more businesses are connecting with these services that offer online payment transfers. As an Indian retailer, you can also have a plethora of choices choosing the free payment gateway for your business. But choosing a low-grade service could take a toll on your business too. Therefore, it is important to shop for the payment service carefully. You can get expert recommendations as we can provide you with relevant payment solution advice. Look below what important things you need to keep in mind while choosing a payment service for your business.

Long payment settlements

It is true that some low-grade payment networks provide businesses with longer payment settlements. But having such a payment network is not absolutely fine if you have a huge customer base in the Indian market. A sluggish payment system would mess up your payment recipient account with unidentified payments and take longer for final settlements. Therefore, you must check with the payment network that offers faster settlement of payments. The normal payment settlement period is 2-3 days which is provided by many payment networks that come with free set-up and annual maintenance.

Higher charges

This might be fine for some giant companies to use payment service that has higher transaction charges. But these charges would have to be within a limit for monthly and annually. The payment gateways that have high charges also do not charge more than the predetermined cost. Therefore, when it comes to looking for a free payment gateway, you must see if the charges per transaction are not so high. This is especially needed when you have a small-sized business since the big chunk of your profit will be taken by the online payment service provider.

Technical issues

It is undoubtedly true that the success of your business would highly depend on the flow of cash which needs to be consistent. Thus, if your payment system is not updated with high-tech software then it would cause unwanted delays, payment failures, and network issues. This would ultimately fed-up your customers when they face these issues relentlessly. So, this would bring a negative impact on the recognition of your business. So, customers would prefer to switch to another business to purchase merchandise online. Therefore, you must keep this consideration in mind while choosing the low-cost payment network.

Poor after-sales service

Every free payment gateway is not bad as it is a misconception in the Indian consumer market. But it is true that after-sales support of different payment networks varies. Thus, it is always imperative to make sure that your supposed payment service is valid and has a solid backup and support system. The payment system must be able to provide instant support to customers in case of payment refund and clearance. Most payment gateways usually respond within 24 hours but more timeframe is not acceptable.