It is the well-known fact that digital payment and eCommerce market are rapidly growing in India. According to an estimate, payment market will reach the 460 billion dollars mark, whereas eCommerce market in India will grow to hundred billion dollars by the year 2020.
Infrastructural bottlenecks and its repercussions on exports
Indian merchants are facing grave issues trying to expand their market overseas and these issues are related to the infrastructural bottlenecks. International customers are still reluctant to deploy Indian merchant services as they are not sure whether their currency will be accepted and payment will go through successfully or not.
Lack of trust due to a low success rate
Our team analyzed this issue and found that some of the biggest problems Indian merchants are facing include poor infrastructure and a low success rate, which leads to lack of trust in international customers when it comes to buying from Indian merchants online. It’s quite natural as nobody would be interested to buy from a portal where they suspect that the transaction might fail due to trivial issues or if their currency is not supported.
With regards to making payment online, India lacks proper digital infrastructure. The multi-currency facility is rarely supported here. However, if you deploy PayTabs, you will get access to an international payment processing platform, which offers support to more than 160 currencies and offers higher acceptance rate for international customers. It will help Indian merchants tremendously and will allow them to sell to global customers in their chosen currencies seamlessly.
Focus on online exports
PayTabs has actually developed its product with a focus on online export of traditional merchandise. PayTabs is designed for small and medium-sized enterprises and merchants, so they can sell and receive payments online on a user-friendly platform.
PayTabs also offers zero brokerage fees with the highest payment success rate through its exclusive marquee solutions. According to its CEO Abdulaziz Al jouf, PayTabs is quite bullish on Indian commerce arena and has a corporate mission to help Indian merchants boost their online exports across international borders through its robust payment gateway solutions.
He also added that PayTabs is going to be the most preferred payment gateway in India soon because it supports all types of business models.
Indian market is marred by infrastructural problems, poor security, and a low success rate and there is a need for a payment gateway in India that allows merchants to accept payment online from overseas customers.
PayTabs performed an extensive research in order to understand Indian market and its problems. It is committed to resolve the low transaction success rate and also boost sales for Indian merchants overseas with the help of our state of the art digital infrastructure that offers topnotch security features and fraud prevention mechanism.