Finance

Best Payment Apps For Both Small And Large Business Owners 

Raphaelle Brakus

With rapid digitalization, it has become essential for business owners to upgrade their payment systems. A business can benefit by adapting to an online payment gateway because it can provide alternative payment options to customers regardless of whether they purchase online or offline. Additionally, by letting customers pay online and awarding cashback or rewards, businesses can form partnerships with other companies to boost their revenue. Currently, numerous payment apps exist in India. But choosing the best amongst them all is a challenging task. This article will list the features of famous payments for business apps in India.

  1. HDFC SmartHub: 
  • It is a digital payment app for business owners with HDFC bank accounts. 
  • It has a user-friendly dashboard so business owners can get insights on their sales, purchases and growth. This feature enables a business owner to assess the performance of their product in the market.
  • It also accepts payments from different modes, including tap-n-pay, UPI, debit and credit cards.
  • It gives QR codes and payment links to accept payment.
  • It sends notifications after every successful transaction.
  • Quick loans are offered on the website.
  • It also lets business owners create advertisement campaigns to grow their businesses. Additionally, they provide insights into the reach and success of their advertisement.
  • The app is available in English, Hindi and Tamil language.
  • Registration for existing customers is straightforward and entirely online.
  1. Paytm for Business:
  • Paytm for Business offers features for companies operating online and offline. 
  • It has a user-friendly dashboard that allows a business owner to analyze their sales, orders, purchases, growth and revenue through interactive line graphs. 
  • Paytm payment gateway lets a business accept payments from 100+ payment sources, including net banking, UPI, debit cards and credit cards.
  • It also offers QR codes for quick in-store payments, and the app can generate payment links.
  • Registration is straightforward, quick and entirely online.
  • Merchants can receive international payments in their preferred currency online.
  • Offers a “business khata” (digital ledger) through which a business can keep track of its customers, their orders and payment history.
  • Online business loans are available easily.
  1. Bharatpe merchant: 
  • It has fewer features than other platforms listed. Any current bank account holder can register as a merchant on the app. 
  • There are no hidden charges.
  • It offers QR codes for quick in-store payments from any UPI app.
  • It also has an interactive dashboard where businesses can keep track of all their transactions. 
  • Payments can be made and received through the app.
  • Bharatpe Merchant offers quick loans up to 7 lakh INR online at interest rates lower than traditional banks. Additionally, loan application and approval is a straightforward and fast process.
  • Transactions done through Bharatpe cards can avail of cashback and other rewards.
  1. Indus merchant solutions:
  • It is an app from IndusInd bank made exclusively for IndusInd bank account holders. Like other payment apps, users can use this interface to carry out various banking/financial activities, such as paying bills, taking loans, transferring money, etc., all in one place. 
  • New users can open accounts and register as merchants quickly and digitally/paperlessly.
  • It has a digital ledger that helps business owners keep track of customers and their respective transactions.
  • Like other apps discussed above, it offers QR codes to accept payments.
  • It also offers a pay-by-link service.
  • Businesses can take pre-approved loans through the app.
  • The app provides a digital dashboard that keeps track of loan amounts and other transactions.
  • Indus Merchant Solutions are only available in the English language.
  1. Phonepe Business: 
  • As the name suggests, it’s for business owners. The app works like a UPI app; users with any bank account can register as a merchant on the platform.
  • It accepts payment from various methods, including UPI, debit and credit cards.
  • You can track your business’ progress through the interactive user interface. The app can track all types of transactions.
  • You can make payments through the Phonepe Business app.
  • It is available in 11 languages.
  • Customer service is quick and available all the time.

To summarize, various payment platforms exist in India, and most of them provide business owners with an analysis of their company’s performance. Additionally, most of these apps are available for users with different bank accounts, although choosing the right app for your Business will depend on your business needs.