Cash is a pain? Become a cashless king; here is how

Cash is a necessary evil! Yes, till now we have been taught that. However, the times are changing and there is no need to actually get touchy-feely with currency notes now and that applies not just to individuals, but also to businesses. The Narendra Modi government has been pushing digital payments for quite some time now, especially since the time of demonetisation announcement. The government has been introducing various initiatives like making Aadhaar card mandatory for a list of services, etc. in order to make the country a cashless economy. While government has been doing its share in making the shift to digitalisation, the banking system has also been encouraging citizens to adopt mobile banking via their apps. One of the main reasons to get into mobile banking app is make your financial transactions easier and flexible.

According to Telr, the rise in digitization has levelled the playing field, presenting a plethora of opportunities for ambitious Indians to be their own boss and venture into entrepreneurship. Starting an online business has now become easy, letting people sell remotely. However, in order to ensure success and longevity of an online business, aspiring entrepreneurs need to have the right tools in place.

One of the fundamental requisites for the same is having a robust and advanced payment gateway. It needn’t only facilitate transactions without but also guard a business against fraudulent transactions, cyber hacks and more. To the same end, a number of leading brands of today are providing Indian businesses with the power-packed payment gateways. 

Here’s taking a look at the most-advanced features that your payment gateway must have, as per Telr:

AI in safeguarding transactions: Telr Secure

AI has emerged as one of the most ground breaking technologies of the present generation. Leading payment gateways are finding interesting use-cases of this revolutionary technology in safeguarding online payments. For instance, with Telr Secure, one of the leading payment gateways- Telr has utilized artificial intelligence to offer an anti-fraud algorithm. This algorithm monitors every transaction in real-time, checking it against any markers of fraudulent transaction. Thus, the advanced software not only stops fraudulent transactions from happening but also improves the success ratio of genuine online transactions. Furthermore, it ensures the safety of online data against hacks and offers the highest level of PCI DSS security.

Multiple language and currency support: CCAvenue

With the digital mediums, geographical boundaries are no longer of much consequence. With online selling facilitating cross-border trade, it is important for the payment gateway to support multiple language and currencies. With CCAvenue, entrepreneurs will get exactly that. It supports 27 major foreign currencies, letting buyers pay in a currency they are comfortable with. Furthermore, the checkout page supports 18 Indian and international languages, thus providing a global reach.

Automatic OTP feeding: RazorPay

One-time-passwords are necessary for ensuring security and validating the transactions. However, having to switch from the app to get the text message, briefly remember the OTP and feed it – all under 60 seconds tend to get overbearing. However, with RazorPay, merchants can solve this pain point for their users. Its featherlight SDKs doesn’t warrant customers to enter OTP manually. Integrating RazorPay is easy as well, requiring only a few lines of coding.
 
CVV less transactions: PayUBiz

Having to enter and re-enter card details could be a major bugger for online shoppers who are clearly racing against time. However, with PayUBiz, online businesses can offer their repeat users a freedom from the same. With CVV-Less transactions, repeat customers needn’t input their CVV over and over again.

These are some of the leading advancements that payment gateways of today offer. Since your online business deserves the best, carefully handpick the power-packed payment gateway.