Due to the increase in the internet user base, the digital economy of India is growing. As per Statista, the eCommerce market share in India will cross the $64 billion mark for the year 2020. And by the year 2027, ‘tis expected to grow beyond $200 billion. From these statistics, we can say that the digital economy of India is growing day by day.
Also, one report estimates that India will have 2.2% of the global digital payment market share by the year 2023. Thus, to conduct such kinds of huge digital payments, Indian service providers and eCommerce owners need strong, secure, fast, and user-friendly payment gateways in India. And due to the digitization move getting stronger day by day, people have started to use credit/debit cards, digital wallets, and other methods for doing payments on online platforms.
As a new age entrepreneur and startup, you should look for transaction charges, time for setup, user interfaces, payment options, after-sale support, etc before selecting a payment gateway. We have made a comprehensive list of best yet cheapest payment gateways in India which you should use. Read the full article here to know the whole list with pros and cons of each.