Everything you need to know about Union Bank of India

Online shopping has become a prevalent trend in India. Local consumers increasingly turn to digital payment methods such as credit cards and online transfers to complete their purchases.

Modern banks, fintechs, and payment providers in India offer a wide range of hassle-free online payment methods that customers have grown to use and trust. That is why merchants looking to expand their business operations to India should become familiar with the local payment landscape.

One of the most popular methods on the market is provided by Union Bank of India.

What is the Union Bank of India?

Union Bank of India is an online banking system that allows customers to transfer funds online through the bank’s website. There’s no need to manually fill in the payment transfer data – all the details are prefilled, and customers only need to authorize the payment. This payment solution is based on instant bank transfers, so the funds reach the merchant’s account quickly, enabling faster order processing and shipment.

Founded in 2019, Union Bank of India is one of the leading public sector banks in the country. The bank has a network of 8,850+ domestic branches, 11,200+ ATMs, and 8,216 BC Points, serving over 120 million customers with 75,000+ employees. The bank has received recognition for its technology, digital banking, and financial inclusion initiatives.

How does the Union Bank of India work?

Customers can choose to pay with a Union Bank of India account when they make a purchase online. After choosing this option in the checkout, the customer is redirected to the bank’s website, where they can enter their credentials and log into the banking platform. Once this step is complete, they can confirm the payment for their purchase.

Why do merchants and consumers use Union Bank of India?

The increase in security and dependable infrastructure, as well as the proliferation of mobile commerce and low-cost internet access, is driving a shift among consumers in India away from traditional payment methods toward new choices like online banking and subscription payments. Union Bank of India offers customers many benefits, including convenience and security. Using this payment method, customers can shop online quickly and easily as there’s no need to remember details or populate fields with data to make a transfer. Also, customers are eligible for cashback by paying through net banking. 

Merchants should consider implementing local payment methods to expand their business to India. The country boasts one of the largest e-commerce markets in the world, and the growth of its online shopping sector is triggered by an increase in internet and smartphone penetration during the past few years. Businesses can benefit from Union Bank of India’s fast and efficient net banking payment solution, attracting customers who are accustomed to using it in their daily lives and trust it.

How can I start accepting Union Bank of India?

Merchants can accept online transfers from Union Bank of India using a payment gateway that includes it. By partnering with a payment service provider that offers global coverage, you can start accepting customer payments efficiently and quickly improve the customer experience for a higher conversion rate.