643.9 million Indians
make online or digital payments. Research also projects the total transaction value of e-commerce to reach ₹8,870,584 million in 2021
. The surge in online shopping, widespread usage of mobile phones, easy access to the internet, and the Digital India campaign launched by the Indian Government have contributed in their ways to popularize online or digital payments.
It has now become a business need for retailers to provide online payment options to their customers. If you too want to introduce the option for digital payments in your website, then you would require a Website Payment Gateway, which is a software application that authorizes payments. It connects the bank to your website so that money can be safely transferred online from your customers’ bank accounts to your bank account or eWallet.