Fast growing e-commerce market in India
India's 1.2 billion consumers are shopping online at unprecedented rates and global merchants cannot miss this opportunity.
As much as credit cards have grown, there are still 32 debit cards per credit card in the market. In that same regard, Netbanking is India’s online bank transfer payment method that is very popular and is used three times more than card payments. PayU supports Netbanking from more than 50 banks in India. With a simple login and PIN, consumers can pay with bank transfers using their local bank and PayU in India.
E-wallets are a popular and convenient alternative payment method in India, having grown by 500% between 2014 and 2016. Citrus Wallet, powered by PayU and many other e-wallets are a simplified mode to transact online and offline. Unified Payments Interface (UPI), is a government initiated wallet that is quickly growing as a preferred payment method in India. UPI enables all bank account holders to transfer money in real-time through their mobile devices.
Credit at the Point Of Sale is an innovative payment tool for merchants and consumers, that results in increased conversion rates. LazyPay, a PayU powered credit solution in India, permits consumers to defer their payment for a set period. It ensures a fast, yet simple, payment method on day-to-day purchases. This is especially powerful for consumers making payments via a mobile device or on the go and has many of the same benefits as a one-tap payment.
As the number one e-commerce payment gateway in India, PayU has thorough knowledge of the intricate, and rapidly advancing Indian market and payment landscape. However, to take full advantage of the enormous opportunity in India, merchants must consider processing locally. Through the provision of all the most prominent traditional and alternative payment methods, PayU provides global merchants with the ability to process local payments.
Now, merchants selling digital goods and services, can process local payments in India through PayU without the need to open a local entity. Contact us to learn more!
Payment Methods Available in India With PayU
Credit and Debit Cards
Alternative Payment Methods