42 Indian startups in 2021 have joined the unicorn club, with 15 debutant IPOs. During the lockdown, digitalization transformation and technology adoption led to unprecedented growth. Furthermore, the curfew has made people much more at ease with digital solutions. The tendency to the digital solutions in India gained momentum during the lockdown. In 2020, the National Payment Corporation of India (NPCI) predicted that India would gain 2 billion monthly UPI (Unified Payment Interface) users by October, and by the end of March 2022, the number surpassed 5 billion.
So, this rapid change during the pandemic paved the path for enterprises to accept payments without owing a website via other digital modes of payment.
However, most people think enterprises need a website to accept payments. Yes, it is necessary, but not the complete website, a secure and safe payment webpage can even do the work. With payment pages, you can directly send the customized payment link on WhatsApp, emails, text messages, and other comfortable ways.
So, here are the best 4 ways you can adapt to accept payments without having a payment website.
1. Consumer behavior has shifted, and there is a greater demand for home delivery or contactless payments via multiple payment options post-pandemic.
2. Grow in demand to develop an application or a website to accept online payments.
3. Traditional payment methods, such as cash on delivery, involve cash handling and transit risk.
4. Difficulty in intervening payments from various banks and wallets, tracking refunds, product returns, discounts, incorrect billing, and clearing balances.
5. Investing in hiring technical resources or hiring a web developer
6. Inadequate digital marketing or technological knowledge
Most third-party payment service providers allow you to create your customized payment page and accept payments through your payment pages. This way, you will build trust between your company and the customer.
As a service or product-based business owner, you will already possess the customer's phone number. So, instead of asking customers for their mail IDs, send them a payment link, through which they will provide their email address and name and pay your request with their credit card.
QR code payment is another booming payment system for clients or buyers. If you own a small business, a QR code way of receiving payments will be more helpful. Customers can scan the code and make the payment. This mode can be effective when customers get the business in person, such as visiting the store or the office. Also, it is a good idea to print the QR code on pamphlets or posters when you issue offline advertisements.
One of the most effective ways to receive payments is to create payment links. Instead of using several applications to monitor the flow of money coming in. With payment links, you can do more beyond what you think is helpful for your business. Payment links come with business-friendly features - customizing to an individual customer, setting the time limit for a link, payment reminders, 1-click refunds, bulk payment links, advanced payment analytics, and partial payments.
You can create a separate link for each of your customers, which you can do on your dashboard. The customized list includes their purchase list, product description, and total amount requested to pay.
Using powerful APIs that your payment service provider provides, you can automate the creation of payment links and receive funds by sending links to customers.
For a better customer experience, you must keep your system in sync so that you can get notified whenever a customer completes their payments, and you can stop sending notifications to buyers.
Keeping an eye on your dashboard is essential as it gives some of the best compelling insights and elaborative reports based on real-time data.
So, without website payments, customers can only process the transaction with the help of the following things:
1. Debit card
2. Credit card
3. Net banking (Internet banking)
5. UPI (Phonepe, Paytm, Google pay)