4 Reasons Why Third-party Payment Platforms Trend In India

By Author: Sahil Verma
Total Articles: 160
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Our lives have changed dramatically between how they were even a few years ago and how they are now. Our days are now filled with hectic schedules: running from the office to the grocery store, competitive careers, and challenges at every turn. Our goal in our pursuit of complete independence is to have complete control over the intricate elements of our lives so that they are smooth, easy, and primarily enjoyable.

Several technological advancements have occurred in the last few years as a result of this mentality and thought-process, both globally and in India.

The massive popularity of online payment gateway systems is one such magnificent development. People are increasingly relying on the online transaction process than they did even a few years ago. It has not been easy to make the above changes because the Indian mentality is not particularly receptive to change and the introduction of new things.

But today, as the world's fourth fastest growing economy, we stand united and strong, inventing and launching new and better ways to make online transaction procedures more ...
... appealing, exciting, and user-friendly to everyone.

Because of the high reputation of this method of payment, a plethora of third-party money transfer portals have sprung up, which have become extremely popular among the Indian public.

To demonstrate, let's play a quick game: take a quick look at your mobile and see how many such third-party portals you have installed on your device, and then consider the last time you used one to make a payment. And then the last time, and then the last time again. All of these times will lead to the same conclusion: you don't know. This is obviously correct because you prefer online payment methods so much that you have lost track of how many times you have used them.

Have you ever wondered what led to this exceptional success? Here is a list of our four favourite reasons why third-party online payment platforms have emerged and become so popular in recent years.

1. Requires less set-up

Third-party payment portals require very little setup to be installed in your Android and/or iPhone, freeing up space for other needs. This also saves you from having to go through a lengthy and time-consuming installation process before you can finally see the portal in working order.

2. Enables payment through their own merchant accounts

Thousands of new websites are launched almost every day, not just in India, but all over the world. While one may capture your attention and satisfy your need, the other may do the same for someone else. There is no requirement for everyone to like every website on the public platform, so does it make sense for you to have a merchant account on every other website with the intention of using it at some point? No. This is where a third-party best payment gateway portal comes in handy. It is a free payment gateway India that allows you to buy an item and/or use a service on a specific e-commerce website using the latter's own merchant account.

3. Can be operated in both your country and abroad

Currency conversion is nothing new in terms of being stressful and worrying. Third-party payment platforms, on the other hand, completely eliminate such confusion and stress because the majority of them are functional in multiple countries, allowing you to make payments with the proper understanding of currency conversion when visiting another country.

4. Designed with latest modern features to allow better payment process

Save this card for faster payment the next time: you may recognise this line. Why? Because you have almost certainly encountered this message while making an online payment. This, as well as other modern features such as improved QR code scanning, individual identification via exclusive OTP, and so on, are some of the modern features that these third-party payment platforms provide in order to allow you to experience better and faster trading.