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PayTabs: Adding Value to Your Business

Category: Growth Hacks

PayTabs: Adding Value to Your Business
Mohab Growth Hacks 0

PayTabs: Adding Value to Your Business

In one of our earlier post, we touched upon the factors that set PayTabs apart as a payment solutions company. We looked at the existing gaps in the payments processing industry and how does PayTabs bridge the gap.

Today, we are looking specifically at some of the business problems that PayTabs can solve for your business, as a comprehensive payments solution company:

  1. Global Business: Your business attracts customers from across the world and it is imperative for you to have a payments solution that processes multiple currencies and offers a seamless experience with your customers. Well, PayTabs has you covered as we can process 160+ currencies on our platform.
  2. Grow your business: Whether it’s multiple channels, schemes, acquiring banks, multiple shopping cart platforms, security infrastructure and systems, risk management and merchant services, we have you covered in all aspects in the context of building, operating and growing your e-commerce business.
  3. Data Security: In a world that is constantly threatened by cyber-crime, it is imperative for you to ensure that you customer’s data is protected. We have the highest level of PCI-DSS compliance apart from having dual layers of fraud management infrastructure in place.
  4. Technology Worries: When you are setting up your e-commerce business, you are determined to get the technology right, with respect to every aspect of your business. We understand technology and the need for agile delivery, hence we have the ability to quickly integrate our solution to your backend, irrespective of the type of backend you have.
  5. Build Competitiveness: We understand that the e-commerce industry is highly competitive across the world; we can help you grow your business & help you become competitive and profitable at the same time. We believe in complete transparency and hence we do not have any hidden charges.

To experience the power and the flexibility of our solution, you can sign up for a free demo or contact us. Moreover, if you wish, you can subscribe to our blog alerts to keep abreast with the latest from the world of payments and e-commerce.

7 years ago
Indian Marketplaces: Shift from Offline to Online
Mohab Growth Hacks 0

Indian Marketplaces: Shift from Offline to Online

Circa 2006: You live in Greater Kailash in New Delhi, surrounded by markets, where you would get everything under the sun. One fine morning, your phone fell down on the floor and the screen cracked. You run to the nearest store and buy the phone of your choice.

Circa 2017: Similar incident happens; you login to Amzon/Flipkart and order the phone of your choice. You need not have to be in GK Market, New Delhi. You can be holidaying in Pondicherry or Himachal Pradesh.

What has changed in the past 11 years? Apart from the fact that there have been two national elections in the world’s largest democracy and India winning the Cricket World Cup in 2011, the buzzword amongst Indian consumers have been: E-Commerce, which has grown leaps and bounds aided by significant increase in internet penetration. The result has been massive volumes and massive total amount of transactions done on e-commerce sites, which has been a key driver to domestic consumption in recent years, catapulting India to the fastest growing economy in the world.  No wonder, the Indian e-commerce market is projected to grow to $100 bn+ by 2020.

payment gateway in india

In the past one year, there has been a significant increase in online transactions aided by the onslaught of non-cash payment methods, as a result of the government’s demonetization drive, which has led of increased adoption of digital transactions, not only for shopping on marketplaces, but for day to day purchases as well.

Yet, despite the Digital India initiative and the Demonetization drive, there still remains a significant amount of population who rely on offline commerce, especially in Tier 1 and Tier 2 cities. This is primarily due to the trust factor associated with an offline transaction, because the buyer and the seller meet face to face.

The Indian e-commerce story is tremendous because it has managed to club convenience of shopping online with trust. It is a paradigm shift in the behaviour in the Indian consumer. In smaller cities, e-commerce hasn’t seen huge growth as compared to metropolitan areas, but that will soon change in the coming years as e-commerce penetrates into smaller cities.

A smaller but an important element of the Indian e-commerce story, is the aspect of export of goods and services. From ages, Indian exporters have been selling goods abroad and in recent years, Indian professionals and agencies have been selling services abroad. Indian small and medium scale businesses constitute a large portion of commerce and exports. This segment of the market deserves to take advantage of the digital revolution and harness the power of e-commerce and online payments.

Learn more about how PayTabs can help grow your business online and accept international payments in a seamless, safe and secure way. Sign up for a free demo now.

7 years ago
6 Factors Driving Indian E-Commerce
Mohab Growth Hacks 0

6 Factors Driving Indian E-Commerce

The Indian E-commerce scene has exploded in recent times, with many different segments being created by niche players, with the most nascent being Foodtech. India has come a long way with respect to e-commerce and the evolution has been really rapid, befitting the world’s fastest growing large economy.

The growth of e-commerce is tremendous in Indian context, considering that traditionally India has been a cash oriented economy with offline retail stores driving purchases by the consumer. Currently, India adds 6 million new consumers* to the e-commerce industry, every month. This scale of growth is unprecedented in any other market and goes to show the potential of the Indian e-commerce market.

The following key drivers of Indian e-commerce are almost unique to India, as some of these points are intrinsic to Indian consumer behavior:

  • Convenience & Trust: It took some time for e-commerce players to gain the trust of the consumer and shed the initial belief that products available at some of the largest online marketplaces were used products. This is because for a long time, the Indian e-commerce space was dominated by e-bay which used to sell used products in India, operating in a marketplace environment. However, as prominent players entered the market backed by a solid supply chain and great marketing & communications, the quintessential Indian consumer realized the convenience of e-commerce and developed a trust with the portal.

 

  • Price: A typical Indian buyer is very price conscious and bargains heavily. They are always looking out for deals. This perception is widely regarded as being true. Price has always been the trump card for Indian e-commerce players as most of the products that are available online are cheaper than the same products available offline.

 

  • Payment Options: With the advent of digital wallets and UPI (Unified Payments Interface), the payment options have grown over the years. Earlier on, most e-commerce players grew because of the success of the Cash on Delivery (COD) model, which was rather prevalent in India, due to a large amount of Cash being circulated in the economy. It is only in recent times, due to the demonetization drive, Indians have jumped on to the electronic payments bandwagon.

 

  • Digital India: The government of India’s Digital India initiative has been a key factor in enhancing internet penetration across the country, which has led to a whole host of services being digitally delivered. The invariable result of increase in internet penetration has been the fact that apart from accessing essential services digitally, the consumer has taken to online shopping and online payments, big time.

 

  • Domestic Consumption: Any world renowned economist will tell you that the India growth story has been driven by domestic demand and the high consumption of the ever aspirational Indian consumer. The obvious macroeconomic scenario had to play out in the e-commerce space as well.

 

  • Language: Most e-commerce portals in India are in English and that has played a big role in the growth of the industry, as India has the largest English speaking middle class population. Moreover, the regional language versions of popular sites have nonetheless played a critical role in the growth of large scale e-commerce portals.

Despite the growth of Indian e-commerce, much remains to be tapped in terms of SMEs (Small & Medium Enterprises) hopping onto the online space and selling internationally, as in exporters. PayTabs can help you make the online shift and help your business go global. Now, it is easy to receive online global payments. Explore now and Sign up for a free demo!

*Data Source: Wikipedia

7 years ago
Don’t Worry About Your Subscriptions!
Mohab Growth Hacks 0

Don’t Worry About Your Subscriptions!

Subscribe Now!

You have implemented a subscription model for your online or offline platform. Well that action proves that you are ready to provide a service on a recurring basis. It gives you an opportunity to convert your customer base and make them captive. The advantage of having a long term captive customer base through a subscription model is immense for a business.

Having said that, you would also need to ensure that your subscriptions are being managed properly and as the volume grows, you would need a payment solution to manage the subscriptions/recurring payments. A solution that enables you to have the following features:

  • Customization in terms of integration with all types of subscription models.
  • In built information security: Data security is critical in today’s day and age.
  • Multiple Currencies: Today’s global customer demands flexibility in terms of paying in a currency of their choice.
  • Smart Saved Cards: Even if your customer changes his or her card number, the service should not be interrupted.
  • Quick Implementation irrespective of your recurring billing scenario.
  • Automated Invoicing: You should be able to schedule invoices and automate your invoicing process to save time.
  • Real-time Analytics: The solution should have in built real-time metrics related to recurring payments and subscriptions.

All of the above payment solution features are quintessential for your subscriptions to drive business value. Moreover, the delivery of these features should be done in a seamless manner, by enhancing your customer’s checkout and renewal experience. It is not only about your customer; you should also be able to manage your subscriptions in a seamless fashion.

Learn more about our recurring payments solution and sign up for a free demo if you wish.

Talking of subscriptions, you can subscribe to our blog alerts to receive more insights on e-commerce, payments and how PayTabs can add value to your business.

 

7 years ago
PayTabs: Not Just Any Payment Gateway
Mohab Growth Hacks 0

PayTabs: Not Just Any Payment Gateway

“People are the best show in the world. And you don’t even pay for the ticket.” – Charles Bukowski

There are two elements in that quote which resonates with the core business philosophy of PayTabs, i.e. People and Payments. PayTabs began as an idea with the sole mission to create a simple and secure platform for people and organizations to transact around the world.

At the heart of it, the mission seems simple enough, after all people are buying and selling in the new digital economy all the time. But the faultlines begin to appear once you deep dive into solving the problems of the payments processing industry, fuelled by the rapid e-commerce growth globally.

The problems are pretty striking when you look at it from a bird’s eye view:

  • Gap in the market in the context of multiple currencies being accepted as payments by an ecommerce platform.
  • End to end authorization, technology, infrastructure and services in the payments space being offered by a single solution provider: There aren’t that many players.
  • Security and Fraud Prevention is a major concern for the industry.
  • Not many alternative payments options available with majority of competitors in the industry.
  • Last but not the least, hidden charges by many competitors brings ambiguity to the minds of the merchants.

In the view of the above problems, PayTabs has created products which solve all of the above problems and thereby providing a breakthrough for the industry:

  • 160+ Currencies accepted on the platform.
  • Whether it’s multiple channels, schemes, acquiring banks, multiple shopping cart platforms, security infrastructure and systems, risk management and merchant services, we have you covered in all aspects in the context of building, operating and growing your e-commerce business.
  • Dual layers of fraud management infrastructure, dedicated fraud and account management.
  • 130+ alternative payments options designed to intelligent recommend you options that support your overall business goals.
  • No hidden charges whatsoever, we are completely transparent in our pricing.

For further insights on how we can truly add value to your business, visit our site. Moreover, you have an option of signing up for a demo to experience the true power of our technology.

7 years ago