Set your business free from bondage of cash with EBS
Although cash has been the predominant choice of making payments and performing transactions in India since the beginning, today’s scenario is fast changing as merchants and consumers alike are turning to the more efficient and safer cashless transaction and payment methods.

Small and large businesses are increasingly adapting to cashless methods of receiving payments and making monetary transactions. 
Let us take a look at some of the advantages that cashless digital payment systems are providing to merchants, especially small businessmen:

Efficiency – Cashless payment systems, such as online payment gateways provided by leading companies, such as Ingenico ePayments India Private Limited are providing unmatched efficiency to consumers and increasingly to merchants. Using these payment gateways merchants are able to receive payments for their sales efficiently into their online merchant banking accounts easily. The consumer can choose to make payments through debit or credit cards, digital wallets, online and mobile banking services, etc and the merchant processes the payment easily and without hassle.

The versatility of payments – Online payment services offers a large number of options for consumers to make payments through the merchant’s online payment gateway system. The consumer can make payments in any of the various popular international currencies, such as USD, GBP, INR, AUD, etc. without needing to change the currency into the merchant’s local currency. Apart from this, the huge number of other cashless payment options, such as digital wallets and online banking make it easier and better for small-sized online merchants to accept payments from their consumers all over the world.

Safety – Online payment gateway systems offer unprecedented security when it comes to making online payment processing. These payment systems are equipped to block suspected online transactions and save the consumer and merchant precious time which is otherwise spent in detecting and resolving online payment fraud issues. Apart from this, the online payment system also prevents losses occurred when dealing with duplicate currency notes which are often paid for payments. Small-time businesses, such as local cable service provider and even the local grocery store can now make online transactions easier for their customers. 

Faster transactions – Although cash-based transactions seem efficient in the short run, online payment systems are likely to save effort and time of the consumer and merchant alike. Online payment gateways are designed to offer unhindered transaction and payment processing for the consumers, as well as, handle the complete verification and authorization of payment process automatically. For non-profit organizations, online transactions mean highly-suitable payment process as they can accept donations or payments from donors or other parties without the need to use an ATM when the payments are made using NEFT, RTGS and IVRS methods. 
India is witnessing an immense rise in cashless methods of payments as these offer clear benefits to consumers and merchants when compared with conventional cash-based payment methods.