The
sudden announcement of demonetization of 1000 and 500 rupee notes has
adversely affected the lives of many Indians. Though the decision was
welcomed and admired from every corner of the country, the citizens
are suffering from its after-effects. They are going cashless and
facing problems in terms of paying in cash for their day to day
essentials such as vegetables, groceries, and transports etc.
People
are moving towards digital payments
As
most of the ATMs are shut and the queues in front of the banks are
getting longer, digital payment seems the only option that is helping
people to make their lives easier in this worrisome situation. In
fact, the day after demonetization, major digital payment platforms
such as Paytm, Freecharge and Mobiwiki experienced an overwhelming
hike in traffic and number of transactions. According to the
Businessinsider,
Paytm has noticed a massive five-fold increase i.e. 435% in traffic
as the consumer across the country took their Paytm wallet for the
offline transactions. Also, the app is being downloaded by millions
of people.
High-time
for merchants/traders to embrace online payment gateways and mobile
wallets
The
present scenario of cash shortage will remain as it is for the next
couple of weeks. It will certainly make many peoples who have never
adopted for online payments to use their debit and credit cards for
daily transactions. For the online merchants from small to large,
this is a high-time to implement payment gateways and mobile wallets
with their business platforms to facilitate consumers and counter the
subsequent loss.
Presently,
there are many payment gateways available in the market. Some of the
popular among them are PayPal, WePay, CCAvenue, and Authorize.net.
If you are a merchant, then you can integrate any of these gateways
with your website and make your services or products available with
online payment facility.
The
effect of demonetization will certainly last for a few more weeks or
may be months. As a result, many people likely to adopt virtual
wallets. Integrating online payment gateway with your website, or
provide your consumers with the alternative of making payment with
mobile wallet surely help you keep your business success sustainable.
At
Panacea Infotech, we have achieved mastery in integrating payment
gateways with different types of websites and online stores. We can
integrate a payment gateway of choice from a wide range of options
including PayPal Standard, WePay, CCAvenue, Braintree, PaymentExpres,
Google Wallet, Fidelity and more. Also, we can also develop a mobile
wallet for your business to help you provide your customers with the
most convenient option of making payment online.
So
what are you waiting for? Get in touch with our experts and make your
business ready to encounter cash shortage hassle. Contact us at info@panaceatek.com.
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