Best payment method for Indian citizens and easy to sign up and operate outside of India?

SzachXX

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Hi, I'm from Europe and I menage few ecommerce stores. I have a lot of clients from India and for them Paypal payment method isn't perfect. They are young and 99% of them don't have paypal, so they are resigning of purchase. As far as I know, most of them using Paytm but I can't sign up for that payment method because I don't have Indian phone number (required to sign up).

So my question is:
- Do you know any other popular payment method in India which I can easily sign up (and make transfers to my bank or paypal later)?
- Do you know any method signing up to Paytm using virtual number or can I buy activated account?
- If you are from India, what is most popular payment method to young people right now?
 

anil595

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Debit card payment is easy and best thing in India. Credit card payment is also ok. For smaller and easy payment option paytm is best. If it is larger amounts then it is money exchange.

You can withdraw amount to Indian bank instantly. But there is small charge and monthly limits.
 

DigitalAnt

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What about the new google wallet. Its getting much popular and you can also get much benifits
 

uchiha.jain

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The answer to your 3rd question is Paytm unfortunately. And unless you have a really trusted partner in India, I don't see how you can sign up and accept payments using Paytm. And I definitely don't recommend entering a JV over payment processing. Not when your laws have little to no way of getting enforced here.

If you use Paypal, your users can pay using debit cards (which is how we load money into Paytm in the most cases). Does this not work for you for some reason?

There are alternatives that I will mention below (they will allow your users to pay using eWallets like Paytm, credit/debit cards and net banking so it's the whole package) but none of them are as easy to sign up as Paytm (where you really only need a phone number to get started). But the ones below are true payment processors instead of wallets and they deposit money directly to your bank account. But I'm guessing you'll need documentations for these, by the cows (no we don't really worship cows you fuckers) you'll need documentations. A bare minimum of 2xproofs of business registration in India + a current account (don't know if compulsorily Indian account.)
https://www.ccavenue.com (well known and trusted)
https://razorpay.com (low fees, I'm in process of getting their approval for my site)
Also, I have to point out, Paytm is not really viable as a payment gateway as you can only withdraw upto ~$400 from any Paytm to bank accounts. Check this link for details

tldr: Unless you're able to have a trusted physical presence in India, stick to Paypal. Your users can't pay with Paytm (it's just a wallet in the end) or netbanking but credit/debit cards do work.

There are no easy ways of accepting payments in India unfortunately, leave alone taking it out of the country. Our Government has always been an asshole towards businesses (they all like farmers because farmers win them elections, haha) and socialism is still big here. They still want to go cashless though for some reason, lol.
 

SzachXX

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thank you guys for response, especially uchiha.jain for detailed one

Payoneer.
I read about payoneer but I'm not shure they are popular with teenagers, I think only for those who use fiver, upworthy or amazon.. but I will test it

Also idea with google wallet may be good to test it.

If you use Paypal, your users can pay using debit cards (which is how we load money into Paytm in the most cases). Does this not work for you for some reason?

It works but not ideally, you can pay with paypal without having account but then you need to provide all card information, adress, full name, etc... I see that for lot of teenagers that is too much and they ditch the order. I'm shure if they have easier proces and less information to give they will purchuse more.

uchiha.jain what you think about google wallet or payoneer, worth of time to test it?
 
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