How to Collect Payments in Travel and Tourism Business

Collecting payments was never so easy

Mobile devices are an essential part of the travel journey today.

Integrated perfectly in travel and tourism experience, travellers use mobile devices from arranging a ride to the airport to paying tickets.

So, it’s inevitable that number of service providers are implementing mobile payment options. But this makes acquiring payments a hectic job for travel and tourism service owners as many of these require physical hardware or a third party application and some of them are a little difficult to operate and understand.

Businesses want payment collections to happen on the spot and more conveniently. 

So, with this simple goal, Lyra network has introduced a convenient, on the spot payment solution – as convenient as sending a text message, a service for collecting digital payments through WhatsApp.

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WhatsApp Payment Solution – Payment collection made easy

WhatsApp Payment Solution aligns perfectly with the travel and tourism industry as it supports and enables mobility.

This service allows Travel & Tourism providers to remain in contact with travelers throughout their journey, creating the opportunity to build customer engagement and successfully scaling the business.

Lyra’s WhatsApp Payment collection option provides an integral, standalone business solution where merchants can connect with an individual as well as a group of customers, promote company and travel packages information, assess customer experience, create a follow-up and collect online payments driving business growth to higher levels and overcome online payments acceptance challenges.

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Want Lyra Whatsapp Payment Solution for your Travel and Tourism Business?

Retail Business Payment Collection

Thanks to the digital India initiative and demonetization, digital payments are witnessing thriving growth. Nowadays there are a lot of digital payment options when it comes to accepting payments like UPI or NEFT.

Most of them use third-party applications or external hardware. But both businesses and consumers are interested in a more convenient payment option – as convenient as sending a text message.

How to Collect Payments in your Retail Business?

There are many payment collection methods available, some are traditional, some are modern. Here are the most common payment collection methods used:

Cash:

Accepting payments via cash is the most traditional and basic mode. Cash is readily available with customers and it is convenient for on the spot transactions.

Cards:

Credit and debit cards have been around for a while and their popularity is increasing. Accepting cards for payments are becoming the norm and it can be considered as the first step towards a cashless economy.

Along with these cards, the introduction of the store credit and gift cards are considered as a tool to build and maintain brand loyalty and customer relationships.

Mobile payments or link-based payment acceptance:

There has been a rapid growth in accepting payments via digital modes. Now businesses can collect payments via mobile applications, mobile wallets, or by simply sharing the payment link

But not every mode of payment acceptance is perfect.

Payment Collection Problems in Retail Business

Payment collection plays a very important yet often underestimated role for growth and profitability in retail trade and retail management.

Many times, retailers face troubles or complications while accepting payments. Here are some challenges faced by retail sectors in India.

  • As retail shops typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer, merchants mostly prefer on the spot payments. Cash or card-based transaction may not be compatible when long-distance orders are involved
  • Retail stores often deal with payment orders that are not defined or constantly changes from customer to customer, so payments via cash or cards may need to work on creating new invoices and receipts again and again.
  • Accepting payments via cards need a card reader, like a POS system or a third-party mobile application that can read the card.
  • Depending on services, retail businesses need to acquire payments in installments or partial payments from customers. With present payment solutions, it becomes a rather hectic task. In such cases, problems can arise in invoice generation or in billing.
  • There can be a lack of interoperability between payment acceptance solutions which are link-based.

As you have seen every method has its own drawback and accepting payments via Whatsapp may be just the solution that retail businesses are looking for.

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All problems: one solution – WhatsApp Payment

Why WhatsApp is an ideal choice for a Payment Solution:

  1. WhatsApp works on all types of smartphones be it an android or an iPhone. It has managed to remain near the top of the list of the most popular messaging apps over a decade now and it’s popularity is increasing. 
  2. WhatsApp is an ideal and most preferred choice for communication and nearly everyone uses it. 
  3. It has higher usage in urban India and has a rising coverage in rural India.

Why Lyra: 

Lyra WhatsApp Payment Solution can be used by both public as well as private retail businesses.  As complete transaction happen within WhatsApp, which in turns,

  • Terminates the need for physical devices like POS machine
  • Eliminates need to use a third-party application

This service can be used for E-Commerce sites, as a white label for banks or simply as a payment solution.

As WhatsApp messenger uses encrypted messages and all the transactions are processed through Lyra’s most preferred and secure payment gateway, using WhatsApp for payment becomes one of the safest and secure solutions.

chargeback mechanism with a settlement module helps payment collection with peace of mind. 

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How to activate WhatsApp payment:

With a smooth onboarding and settlement process, activating  Lyra WhatsApp Payment Solution becomes a hassle-free process.

The specially designed API allows merchants to send customized payment orders and bulk payment orders. Merchant just needs to post required parameters and in response, the Lyra server sends payment URL. 

This responds to the tendency of companies to use these messages in their customer relationship strategy.

How Lyra WhatsApp Payment Solution works?

Payment collection via WhatsApp is as simple as sending a text message via app. It works in four simple steps:

  1. Creating a Payment Order: Sending a message with the Customer’s Amount, Currency and Phone Number to the Lyra WhatsApp certified number by the merchant.
  2. Generate payment link: Lyra sends the buyer a message with the link to the payment. At the same time, the merchant receives a confirmation via a link.
  3. Payment Processing: The buyer clicks on the link and will be directed to a secure payment page to complete the payment.
  4. Payment Confirmation: Upon completion of the transaction, the merchant will receive a payment confirmation via WhatsApp. 

This solution can be used for a face to face as well as non-face to face transactions in real-time. 

Whatsapp payment features:

  1. Quick onboarding with no additional cost
  2. Multiple payment options
  3. Customization of the payment messages
  4. Send bulk payment orders via specially designed API
  5. Dashboard for a clear overview of all transactions.
  6. Day to day auto-generated reports for transactions
  7. Fraud detection and Chargeback handling
  8. synchronized back office
  9. a clear view of all the transactions and can manage them
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Benefits for merchant:

  1. Real-time payments: WhatsApp payment solution is a direct payment method. It can be used as face to face and for non-face to face payment collection in real-time and can be used to close sales immediately.
  2. Guaranteed secure payment: The Payment Solution is PCI-DSS V.3.2.1 compliant and certified by Visa, MasterCard. 
  3. Perform transactions without a third-party application: As transactions happen within WhatsApp, there is no need to download third-party applications.
  4. Payment notifications in the chat window: After a successful transaction, you will get a notification in the chat window
  5. No manual intervention: Sends payment orders via WhatsApp without manual intervention
  6. Collect payments instantly anytime anywhere
  7. As sending payment orders and transactions take place online via WhatsApp messenger, this solution reduces the use of the physical POS terminal.

Benefits for the customer:

  1. No need to share details or IFSC code: Payment via WhatsApp is similar to sending a message via app. There is no need to share the details or IFSC code.
  2. An uncomplicated and simple service: Using WhatsApp to pay is as simple as sharing an image or sending a text message.
  3. No need for the additional application: Paying via WhatsApp eliminates the need for downloading additional apps to perform transactions.
  4. Guaranteed secure payment: This payment solution focuses on security providing the highest level of trust as WhatsApp communication is always encrypted.

Covering a wide spectrum of sectors from E-commerce to Brick-and-mortar store, from travel- tourism to the education sector and from retail to BFSI sector, all SMEs can use this as a payment collection method.

Still Have Question?

Read latest trends, news and fintech updates here

Every business has different long and short-term needs. Choosing the right online payment solution that supports those unique needs can be challenging at times.

Currently, many online payment service providers are designing (or had already designed) specific options that can help businesses in online payment processing.

Following every niche, these options can if chosen wisely boost your business. Considering business as well as customer requirements, a business owner must assess each and every option carefully considering all of the use cases for business.

So, without further ado, let’s start from the very basics.

What is an online payment solution?

An online payment/e-payment/electronic payment implies paying for goods or services online (on the internet). 

It receives an online payment request from the customer via a business website, authenticates all payment details, authenticates the transaction, and finally transfers the funds from the customer’s account to the merchant’s account.

When a customer visits an e-commerce portal or website for purchasing goods or services from it, he/she can make the payment on the spot with the help of the payment solution/terminal.

The e-payment solution includes all the financial operations using devices like computers, smartphones, etc.

E-payments help with several methods like credit card/debit card payments or bank transfers. In today’s time, it is observed that the most niche method of making online payments is via cards.

A payment solution processes, authenticates, and authorizes customers’ card information and completes the transaction. Without a proper payment solution, the business will not be able to receive online payments.

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Why does your business need an online payment solution?

Every business needs to collect payment from the customers (It’s rather obvious). But in today’s date and age, where cash is slowly becoming obsolete, accepting online payments is becoming one of the core necessities for any business. Here an online payment solution enters the frame. 

Online payments are required because of one major reason for the growing demand in the country for online payment solutions/card payments.

Source: World Payments Report

The aforementioned statistics reveal that Asia is emerging as a continent with more and more non-cash transactions.

Since this is a huge positive impact on the digital payments economy, the growing demands of online payment solutions are met with rapid advancements.

In addition, it is expected that Asia will continue on a high-growth trajectory. It is anticipated that the CAGR will reach 28.8% before 2021.

This estimation is based on the factors, such as government efforts for financial inclusion even in rural areas, an increase in smartphone use across the country, and increased awareness about the benefits of e-payments.

In simple words, every business in today’s time in India majorly requires an online payments option to be on par globally.

The payment solution is an important part of the checkout process. It affects the customer experience as the checkout process depends on, speed, reliability, security, and flexibility.

Most payment solutions provide multiple payment methods providing a good and flexible payment experience for customers.

Accepting payments locally as well as globally becomes easy as a good payment processor supports different currencies and accelerates the transactions

Besides, there are several other reasons a business requires an e-payments’ arrangement:

  • Instant money transfer is possible with the help of an online payments channel
  • The easier and preferable method of making payments by customers/clients
  • Maintaining a database becomes much simpler
  • Prevents fraud with its safety mechanism, and avoids accounting errors
  • The merchant can receive payments 24/7 with an online payments mechanism set.

What is a Payment solution provider?

Payment service providers, also known as payment processors connect merchants to these virtual terminals to accept payments online, they handle the entire online transaction process network. The nodes of this connection network are customers, merchants, financial institutes, and card networks. 

The main objective of the payment service providers is to connect all these entities to provide an efficient, secure, and seamless payment experience for both merchants as well as customers.

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How to choose a payment solution provider?

Choosing the right payment solution can be a very crucial task and has to be done after a proper assessment.

The long and short-term needs of the business and its continuous evolution should be the key parameter in this assessment.

In other words, The payment solution should provide flexible options, security, and convenience, and should evolve with evolving technologies.

Once you have a better idea of your business’s requirements, you can begin looking at other selection criteria.

When choosing an online payment solution for your business, a set of parameters needs to be checked for making the correct decision.

These parameters help the business to adopt that payment solution, which provides sustained customer loyalty and an uninterrupted settlement of the received amount.

Prior to choosing an online payment solution, the merchant must ensure that all of these be in alignment:

Easy sign-up and onboarding process-

While deciding on an online payments solution, a merchant must ensure that the sign-up process is easy and quick respectively.

When sign-up is simple, the merchant does not have to go through much of a hassle, and hence, makes itself a part of the service-providing company in no time. Making the process simpler is an easy onboarding process for the payment service provider.

Earlier, the tasks that added to the workload were handing over the documents in person, waiting for approvals for months, and following up with the payment solutions company.

Finishing all the aforementioned requirements manually would take a toll on the business since it would not be able to commence its payment operations for a long time.

High success rates –

The success rates of various online payment solution companies are what defines them as suitable or not for the business to get onboarded.

It must always be taken care that the online payment solution considered for the business has all payment modes.

This leaves customers free to make payments from any mode, and thus, increases customer loyalty and satisfaction. Mainly easy checkout, several payment options, and uninterrupted transaction flow all lead to higher transaction success rates.

Low Charges –

When a business integrates with a payment service provider for receiving payments from its customers, the major cost depends on the price of every transaction.

This simply means that the company provides the business with payment pathway charges for each transaction that goes through its platform.

The cost of each transaction sums up to be a huge amount ultimately. Hence, the business must understand beforehand several types of cost/charges like setup fees, transaction charges, and similar costs. Most importantly, the business must also enquire about any hidden charges (if any) to avoid any confusion later.

Several Payment Options –

There are various payment options that are a must for the business to include for liberating its customers with regard to making payments. Including all payment methods helps the business gain an additional advantage. This way, a customer can make payment with any of the options below most suitable for them:

  • Credit/Debit card
  • Net banking
  • UPI
  • EMI
  • E-Wallets
Seamless checkout –

The checkout process must be optimized for customers so as to provide them with a smooth payment flow and consequently, a great experience.

Such an easy-to-use checkout interface makes shopping simple and quick for the customers. Be it a mobile application or website, there should be the availability of an uninterrupted checkout process for the customers on a shopping website/portal.

Highly Secure –

Payments done via the e-payments platform are highly secure since they are regulated and validated. Validations by certificates such as EMVCO 3D Secure and PCI-DSS make online payments secure against rising cyber frauds. Consequently, the process of the transaction flowing from the cardholder’s bank account to the merchant’s bank account is firmly secured by the relevant compliances and a regular follow-up on the same.

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Powerful dashboard for tracking the transactions –

Providing merchants with access to the back office is an additional advantage to the business since the merchant is then able to get an insight into the details of transactions until settlement.

Hence, a powerful merchant dashboard is a must for maintaining track of transactions. Moreover, the dashboard must be optimized for all the devices, like mobile phones, tablets, and desktops.

Here is a glimpse below of Lyra’s merchant dashboard. It shows all that a merchant may need to follow up in order to sort out its transactions on a daily basis.

Are there other options for payment services?

Every business that accepts credit and debit cards needs payment processing services. Not all of those connections are direct—some involve third parties like payment gateways and payment facilitators.

Choosing the right payment solution or service often depends on the types of businesses.

There is a wide variety of these types, it varies from retail, and eCommerce to companies that conduct off-site business, and social media businesses to home-based businesses.

similarly, these businesses need to explore the possibility of including a virtual terminal to accept payments online. 

Not necessarily all businesses have their own website, so in this case, they can explore some alternative services.

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Lyra’s online payment solutions for your business

In conclusion, Lyra provides a perfectly tailored payment solution for the business, no matter the business category. With Lyra, businesses can opt for all types of payment methods including UPI, net banking, and more. For every business case, Lyra is here to provide an ideal solution.

 

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The Future of Payment Gateways

Payment Gateways in Today’s time

In today’s time, As online payments are becoming more and more popular means of transactions, online payment gateways have become increasingly important.

Payment gateways successfully provide end-to-end solutions for a seamless customer experience. They are the key medium to help merchants receive card payments in both card-present and card-not-present transaction situations.

For increasing the value-added services, payment gateways have integrated front-end services of newly available banking platforms.

Besides, Digital India Initiative has played a crucial role in making Payment Gateways become such an integral part of society.

With this initiative, several other related sectors like Machine Learning, AI, telecom, and the software industry are getting the push rapidly ever since demonetization.

Over a period, payment gateways have become extremely imperative for every e-commerce platform online. Since, in today’s time, e-commerce platforms are on the rise in India, payment gateways have become vital for the country.

With the increase in demand for advanced technology, digital payments, etc, it is anticipated that the online payment gateway market is expected to grow near to 88Billion USD by 2027.

According to a recent study conducted by Research Nester, the global market for online payment gateway is expected to grow at a moderate CAGR of 16% during the forecast period 2018-2027.

According to a report in CNBC:

  • Digital payments are anticipated to reach 726 billion by 2020, says a study was done by Capgemini and BNP Paribas.
  • Non-cash transactions rose 11.2 percent between 2014 and 2015, which was the highest growth of the past decade.
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Digital India Initiative and Other Related Sectors

Automation and Digital India are two terms going hand-in-hand ever since demonetization. The aftermath of the same is an enhanced demand for automation as well since it provides for the entire setup of payment gateways.

Advancement in the automation sector helps the e-payments to be more efficient and able to act and respond in a particular expected way.

Hence, for making Digital India a success, it is required for other related sectors to be growing in harmony with the e-payments sector.

The government of India is making sure that digitalization transforms businesses, society, and governance alike in the most productive manner.

This vision of Digital India is quite a wide one with all the decisions being based on upliftment of the society, related sectors, and governance as a whole.

Hence, payment gateways are on the path to experiencing more innovation, and thus, advancement in the coming time.

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The Scope for Future

It is believed that in the future, as the ecosystem will progress, digitalized sectors will be triggered with further automation.

This is sure to increase the speed and power of existing digital services, gadgets and everything related. Furthermore, there is an expected growth in the processing of huge volumes of data simultaneously.

Connecting it all is the Internet of Things (IOT), which is also estimated to bring several more advantages by scaling up in the coming future.

Coming to the rural areas in India, more and more is happening to bring massive broadband connectivity across these areas.

Besides, the payment gateway platform will also experience a further shift in its efficiency with technological advancements, and thus, infliction of innovative changes.

This is all going to bring umpteen profits to the economy. Consequently, the profits to the ecosystem will add to crores of e-commerce platforms and jobs.

Hence, both the demand for payment gateways by newly set up e-commerce platforms and purchasing power as well as knowledge/trust of the masses is believed to go up in the future.

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Hence, it is positively going to make the future of payment gateways brighter than now and better with both business owners and buyers enjoying the benefits of a payment gateway.

This implies that payment gateways also need to constantly and rapidly evolve in order to stay on par with the advancements.

There are some anticipations with regard to the evolvement of payment gateways, which are going to make the same more efficient for society at large:

1) Automated payments to suppliers at a pre-decides interval as well as receiving automated payments from distributors.

2) Linking of payment gateway with the individual’s credit card to automate payments for services like rented cab services.

3) Payment gateway equipped with the technology to validate payment with thumb or finger impression. This removes the need to enter details like CVVs, and credit limit since the impression can serve best as a password.

4) Bio-metric Authentication: The use of biometric technology is increasing day by day. It is done by analyzing fingerprints or facial features.

Gone are the days when the password or pattern needs to be remembered. More and more applications are using biometric authentication today.

Customers, as well as merchants, feel that this authentication is more secure as biometrics can not be duplicated easily.

It is faster and easy to use and understand making biometric authentication a comfortable mode.

5) Multiple Payment Gateways: Shopping online as of today is not only about adding the thing you want to the cart and paying for it online.

Customers want a more sophisticated and seamless process that can enhance their shopping experience.

And with time, using multiple payment gateways for enhanced payment processing is one of the emerging options.

Multiple payment gateways offer more security and convenient and easy payments along with offering customers a much better transaction experience.

6) Nano and micropayments are emerging as alternate methods of charging.

7) Another mainstream factor in today’s day and age is Bitcoin – a widely recognized cryptocurrency. There have been most advancements in the cryptocurrency area and still are.

Using cryptocurrency is more secure as transactions are less traceable. Blockchain also offers numerous benefits, reducing the risk of security breaches and increasing efficiency and reliability.

8) Another emerging technology and a trend is ‘voice commerce’ It has influenced customer behavior to a great extent. Custom online payment via voice commerce can be considered a glimpse of the future.

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To enjoy the benefits that payment gateways can bring in the near future, the digital payments industry will need to pick pace with regard to advancements.

This is only possible with quick innovations and implementations of the same.

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Benefits Payment Gateway and an E-commerce platform

The e-commerce industry in India is growing rapidly. With the goal of providing customers a convenient and secure platform, seamless transactions and delivery to their doorstep, e-commerce platform requires an efficient payment gateway which will increase customer loyalty and in turn sales and profit.

POS being the popular mode of payment collection, the main difference from the POS terminal is: in case of a payment gateway, the shopper may be sitting in a different city, state or a country altogether. Because of the distance and anonymity of the shopper, a payment gateway requires special encryption and verification technology. The E-commerce platform has it’s own shopping platform space online,  these platforms are convenient for shoppers with several benefits attached, such as:

But for customers to have a seamless shopping experience, having an easy to navigate APIs (applications) are not enough. An e-commerce platform requires an efficient payment gateway to add on to the safety of payments, leading to customer loyalty and increased profits.

Benefits of payment gateway

Getting a digital platform to accept the payments online can ultimately improve the overall performance of your business. Here are the benefits of implementing a payment gateway:

  1. Easy Checkout: The swift and seamless checkout experience is a must from a customer’s point of view. Payment gateway enables these features and makes online shopping as easy as possible. 
  2. Impulse purchase: It is observed that more than 40% of customers cancel their purchase if the checkout/payment method is tedious or complex. But, according to a study, it is observed that impulse purchase is responsible for 40% of all online purchases, so being provided with an easy payment option will undoubtedly make an increase in sales.
  3. Payment gateways also
    1. Integrates with shopping cart
    2. Provides faster payment processing
    3. Accepts multiple payment options
    4. Provides chargeback prevention
    5. Provides fraud management
    6. Also, Provides recurring billing
  4. Security: Payment Gateways are often compliant with security standards like PCI DSS, etc. providing secure transactions

How does Payment Gateway works?

Here are the basic working steps for a typical payment gateway :

  1. A customer initiates the payment transaction by clicking on ‘buy now’ or its equivalent button on the website.
  2. E-commerce platform takes the customer to a payment gateway where the customer will enter relevant card details.
  3. Payment gateway redirects the customer to a secure page for authorizing the transaction.
  4. Once the transaction is approved by the payment gateway, banks make the checks on the customer’s account to decide whether the transaction is a success or not.
  5. Payment gateway sends the message (successful transaction or error in the transaction) to the customer.
  6. If the transaction is successful, the bank settles the payment with the payment gateway.
  7. The payment gateway then settles the payment with the merchant, notifying the customer that the transaction is successful and the payment process is complete.

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Payment Gateway as an important factor for Security of Payments

Since a payment gateway is such a crucial part of an e-commerce platform, it is imperative to understand it from the security aspect. Security, being the top-most benefit of a payment gateway, aids in lessening the intensity and frequency of credit card fraud within the e-commerce platform.

A payment gateway, as mentioned earlier, authenticates the cardholder/shopper so as to make a safe flow of payment from his/her account to the merchant/e-commerce platform’s account. This entire flow of payment is secured with the help of a payment gateway.

A payment gateway maintains security by following a protocol for the same and thus, data of the customer is encrypted in a safe manner.

There are some definite reasons, which make a payment gateway apt for the e-commerce platform:

  • Integrating a payment gateway does not require much hassle and can be set up easily by the merchant/e-commerce business that already has a website/application for the business
  • It requires slight maintenance, and thus, is extremely cost-effective.
  • Because of the popularity of a payment gateway, majority of the people are familiar and comfortable with its concepts. This makes it easier for the online business since there is no requirement of knowledge for the same.
  • A payment gateway helps in quick checkout with the customizable checkout page. A merchant thus can customize the checkout page in accordance with the demands.

How to choose a payment gateway provider

Choosing a payment gateway for your business can be a really crucial task. The payment gateway needs to be reliable and should meet your business needs now and in the future. Many factors come into play while choosing a suitable payment gateway. 

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Moreover, it is Simple to get a Payment Gateway – Hosted Page

After understanding how payment gateway integration is beneficial for an online business, it is imperative to note that it is also simple to get a payment gateway (Hosted page) and thus, all the benefits.

A Hosted Page redirects the customer from an e-commerce platform/portal/application to the payment gateway where the customer selects the payment option and fills in the card details. In this case, designing the page or validations is not required.

This way, the card details remain safe with the payment gateway, which makes the transactions highly secured. Besides, a PCI-DSS compliant payment gateway adds to the security of transactions by customers. It minimizes fraud and chargeback as a result.

The benefits of using online payment gateways for customers are many like fast payment, smooth flow of transaction, flexibility with one-click solution, secure option and an overall better experience.

It supports various payment methods such as Master/Visa/Maestro/Amex. The payment disbursement process happens in approximately 3-4 days.

Firstly, for setting up a payment gateway, an online business owner should be sure of the factors mentioned below:

  • Needs to be a hosted gateway
  • Should provide easy integration with the website
  • A knowledge of that Payment Gateway’s fee for better decision making

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Two ways of setting up payment gateway

A payment gateway is a platform that authorizes payments for e-businesses and online retailers. In general, there are two definite ways of setting up a payment gateway, and that happens by:

  1. Direct integration through the Application programming interface (API) module by connecting his Bank account with the Payment Gateway.
  2. Integration of the Payment Gateway firstly on Test Mode & then on Live Mode user acceptance test.
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Hence, an increase in the demand for Payment Gateway in India

Pertaining to the timesaving, cost-effective and discount-driven e-commerce marketplaces, India has witnessed a steep rise in the demand of the same.

Online businesses, with their easy-to-use APIs (applications), have gained traction over a period. All the more, an advancement in delivery infrastructure along with smartphone penetration as well as data usage is all a plus.

But the fact remains that an e-commerce platform is incomplete without an efficient and reliable payment gateway facility. Hence, the rise in e-commerce marketplaces has led to a rise in payment gateway integration by online businesses.

 

Source: Bain & Company and Times of India

The picture makes it clear that India is adopting an e-commerce platform more rapidly than any other country.

This is a vivid representation of the growing needs of payment gateway services since an e-commerce platform and payment gateway go hand-in-hand.

What Lyra Payment Gateway offers you?

Lyras Payment Gateway offers a secure, user-friendly and seamless platform for collecting online payments in real-time. It is compliant with PCI DSS 3.2.1 standards and provides fraud and chargeback management. It provides 100+ payment methods and different payment options like EMI, split payments, etc. Merchants can view and manage payments with a powerful back-office system.

Still have Question?

Importance and Intricacies of Testing the integration of Payment Gateway

Considering the importance of a payment gateway for any e-commerce platform in today’s time, the information here may be extremely useful. The intricacies of a payment gateway integration with an e-commerce platform include a lot more than it being able to validate and accept transactions online. Various factors go into consideration for the same.

Be it any e-commerce platform, if it wishes to receive payments online, it needs a payment gateway with robust services to offer. It is also imperative to understand the payment options that are available with a payment gateway.

What is Payment gateway testing and why do we need it?

Every payment gateway needs to be tested in order to provide seamless and comfortable online transactions. It needs to approve or disapprove transactions instantly, as it can cause a problem for merchants and in turn, can affect the sales directly. Testing of the payment gateway involves different aspects such as connectivity, security, encryption, etc.

From the customer’s point of view, the online transaction process should be so smooth, that he/ she only needs to click the button and get the transaction done without interruption in second. But from the merchant’s point of view, he needs to ensure that the complete transaction process is working fine along with its sub components.

The testing of payment gateway integration allows the merchant to check and evaluate all the entities that take part in the online transaction. It also helps him to determine that the chosen system is, in fact, the best fit for the customers.

If you haven’t decided what Payment Gateway you should opt for – Click here

Types of testing required

Functional Testing – While testing the integration of payment gateway, testing its functionality should be the top priority. While checking the functionality, consider these points:

  • Display and working of all the listed payment methods (like cards, net banking, etc.)
  • Language and currency format
  • Notification after the unsuccessful transaction (via message or mail) – for both customer and merchant
  • Notification after the successful transaction (via message or mail) – for both customer and merchant
  • Redirecting customers back to the website after checkout and confirmation of the payment.

Integration Testing – The next important and crucial point to test is integration testing. This covers the verification of the merchant’s website/online store integration with the payment gateway.

Consider these points to verify the integration:

  • connection of payment gateway to the correct bank/fs
  • seamless and uninterrupted communication to and fro from banking server
  • Transaction processing for the described amount of money and currency format
  • Successful transaction processing of the entire process in the correct order 

A simple procedure can be followed to check these points:

  1. Place an order.
  2. Check if funds get credited in the merchant’s account.
  3. Verify if the transaction can be refunded.

Performance Testing – Once the integration and functional testing are done, next is performance testing. It is extremely essential for the website to deliver smooth performance. The payment gateway integrated with the website should achieve the desired performance benchmarks considering the following points.

  • Configuration of load balancing components.
  • Memory, network server and space for proper functioning.
  • Working across different environments.
  • Performance while several users are trying to complete transactions at the same time. 

Database testing – One of the important aspects of the online transaction process is the trust of the customers. It is extremely important that as a merchant, you should assure your customers that the details they provide you for transactions will be managed properly.  Database testing incorporates the following points:

  • Management and security of customer’s personal details (if taken any).
  • Management and security of customer’s banking details (if taken any).
  • Proper format of information stored in the database.
  • Accessibility of stored information in the database.

Security Testing – Online transaction needs a customer to provide sensitive information like credit card number, CVV, etc. It is difficult to keep such information secure and safe from cyber-attacks. Thus security testing should be taken very seriously 

  • Implementation of authorization management.
  • SSL certificate.
  • Implementation of safety access points.
  • Encrypted storage of sensitive information.
  • Safety from cross-site scripting, spoofing, etc.

Things to keep in mind before starting Payment Gateway testing

Before you begin testing keep these things ready-

  • Payment Gateway documentation
  • Payment Gateway documentation with error codes
  • A payment processor sandbox.
  • A proper test data for the dummy credit card number
  • Collect payment gateway information like Google Wallet, Paypal or else
  • Collect payment gateway document with error codes

And make sure that you understand,

  • Payment gateway terminology
  • How payment gateway session works
  • Parameters of the payment gateway application
  • Transaction entries in the database (if you have database access)

Don’t forget to take a note on:

  • How payment gateway behaves after a successful transaction
  • How payment gateway behaves after a failed transaction
  • The response of payment gateway to the merchant and the customer after successful transaction
  • The response of payment gateway to the merchant and the customer after a failed transaction
  • Console during the transaction.

Testing the payment gateway integration

For testing the integration, there needs to be an understanding of the core of “a payment gateway”, and for that, one must understand its working.

Now, as the working of a 3D secure payment gateway is clear, we can move to testing the integration of a payment gateway with the mobile application (e-commerce platform). For making sure of seamless transactions, a QA (Quality Assurance) analyst does a thorough study.

It is the study of all API documentation across the payment gateway, which enlists the response codes and the way to perform testing across them with each test card. Since the documentation carries entire vital information required to test the integration, it is very important to have a QA Analyst study it thoroughly.

Test cards are required for Testing different available cards and the response codes associated with them. To unveil the integration level between a payment gateway and an application (e-commerce platform), one can verify the response at both the application end as well as payment gateway end.

For example, if the testing across the card reveals response code detailing as insufficient funds available or expired code, then the same response should be displayed on the payment gateway dashboard. There should be no mismatch, like the display of “payment confirmation” at the application end while it is showing “failed due to insufficient funds/expired code”, etc. at the payment gateway end.

In case of such a mismatch, the end-user will get the wrong information and thus, it should be resolved. There can be different response codes for different payment gateways, and hence, every payment gateway must ensure proper integration for clarity at both ends.

Validation of 3D Secure Payments

By now, it is quite clear that integration between the application and payment gateway holds great importance. Alongside this, it is as important to understand the implications of 3D secure payments and its validation.

Since 3D secure payments authenticate the cardholder (reduce the likelihood of fraud) with its issuing bank, it is of utmost importance to make sure it works smoothly. Some payment gateways do not require the implementation of 3D secure payments separately.

If a payment gateway implements 3D secure payments separately, it is required to test that as well. This is imperative to make sure that 3D secure-enabled cards work without any interruption with the 3D secured payment gateway.

Embedded Payment Form

In the case of embedded payment options, User Interface (UI), Validations and Security checks are required from application end and thus, testing happens for the same.

For validations, testing of card numbers, CVV and validity checks takes place.

For testing the proper functioning of UI, it is extremely imperative to test the embedded forms in multiple browsers and devices like mobile phones.

For testing the security of the application, it is important to verify whether the application is safe enough for storing several card details or not.

Since the technology is advancing at such a rapid rate, it is the need of the hour to make sure that the integration is thoroughly tested from the functional as well as security aspects.

Customers or end-users seem to remain loyal to the platforms that provide them with a seamless experience with regard to making payments as well. Hence, this testing is extremely imperative to maintain customer loyalty.

Furthermore, in today’s time, increased competition has left no room for flawed activities especially with regard to transactions. Every end-user expects to witness no fraud while making payment.

Having said that, it is crucial to keep in mind that a deeply driven test of integration between an application and payment gateway is the key to sustaining!

A short Checklist

  1. Format and message after successful transaction
  2. Format and message after a failed transaction
  3. Redirect to the webpage after successful transaction
  4. Buffer time and page while redirection
  5. What happens if the payment gateway language is changed during the payment process
  6. What happens if payment gateway stops responding
  7. What happens in the backend while payment gets processed
  8. What happens when payment session ends
  9. Is every payment option is selectable and does it work
  10. Does the payment gateway defaults to the desired debit/credit card

Still have Question on how to test your Payment Gateway Integration – Contact Us

Want to know more about what payment solution is best for you business

Digital Payment Awareness Week 2025: Lyra’s Commitment to a Safer Digital Future

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3DS (3 Domain Secure) forms one of the most innovative births in the family of online payments. The protocol developed by VISA to improve online transaction performance adds a security layer for online credit and debit card transactions.

The scenario of Online payments in India

Since online transactions have become considerably popular in India lately, a lot of debit and credit card transactions happen on an everyday basis. 

Some statistics for your reference: source

    • Total amount transacted through credit cards at POS terminals — which was Rs 59,616 crore in July 2019 — increased by 24.8% in the 12 months ending July 2019. The amount transacted using POS terminals through debit cards went up by 20.3% during the same time. In July 2019, Rs 58,102 crore 
    • The number of transactions using credit cards at POS terminals (or swipe machines) grew by 23% year-on-year, while it increased by 14.6% for debit cards for the 12 months ending July 2019. In July 2019, the total number of POS transactions through credit cards was 178.4 million, while the figure for debit cards was 420.8 million.
    • October and November 2019 alone are responsible for 8,32,601 transactions through credit cards and 85,92,31,520 through debit cards with amount 41,509‬ Lakhs and 3,15,43,207 Lakhs respectively (source)

Earlier, the constant fear about the safety of transactions restricted people from engaging in online transactions. But, the scenario has considerably changed in today’s time. Today, the e-commerce industry is largely being benefitted by 3-D Secure payment gateway service.

Ever since the 3-D secure methodology got adopted, it added an extra layer of security to credit and debit card transactions. The prevalence of 3-D secure payment gateway has ensured compliance all across. This is an XML-based protocol, which requires an additional validation step for online payments. This step leads to the authentication of the cardholder’s identity by his/her card-issuing bank. The technology was first adopted by Visa under the name Verified by Visa and then by MasterCard under the name MasterCard SecureCode and then Amex Safekey.

What is 3D secure? 

3DS (3 Domain Secure) is an XML based technical protocol developed by VISA to improve online transaction performance and to add a security layer for online credit and debit card transactions. It consists of specifications that include requirements and specifications for participants involved in transactions. As the name suggests the process is divided into three domains, viz. Issuer domain, Acquirer domain, and Interoperability domain.

What are the Three domains of 3DS?

3DS(3 Domain Security) divides the authentication process into 3 domains as per the participants, a cardholder, An issuer, an acquirer, and a merchant involved in the process.

Issuer domain:

This is the bank that issues the card to the cardholder for making payments for the purchase of goods and/or services.

This is the bank that issues the card to the cardholder for making payments for the purchase of goods and/or services.

The issuer domain comprises of the following:

  1. Cardholder browser and related software: Sends and receives messages between the MPI and ACS.
  2. Enrollment server: Facilitates cardholder’s initial authentication as well as administrative activities
  3. Access control server: It checks the authenticity of a card in the card schemes and assists in the authentication of the cardholder
  4. Validation server: Performs a validation of cardholder’s authentication.

Acquirer domain:

This is the bank where the merchant/seller’s bank account is held. This bank account receives the money from the buyer for goods/services sold by the merchant.

The acquirer domain comprises of the following:

  1. Merchant Plug-In:  It creates and processes cardholder’s authentication messages. Plug-in is invoked after the finalization of purchase by the cardholder.
  2. Signature Validation Server: It validates the digital signature on an already authenticated order/purchase request. This server either comes separately or integrated with MPI.

Interoperability domain:

This is the domain that decides which network will be used. The networks that usually come into use are Visa, MasterCard, Rupay.

The interoperability domain comprises of the following:

  • Directory Server: This server provides centralized decision-making capabilities The directory validates if the given account number is associated with the card and is part of a card scheme and forwards the request to the ACS for further processing.
  • Certificate Authority: It generates and distributes all needed certificates across all domains. These certificates are card scheme certificate, SSL server certificate, public root hierarchy certificates, and digitally signed certificate of the issuer.

How 3D secure Payment Gateway works?

In simple words it follows the following steps: 

  1. The customer initiates the online transaction by entering debit/credit card information on the merchant website.
  2. The PG contacts a directory server (VISA, MasterCard, etc who provides 3DS) and gets status on the authentication message on the card.
  3. PG redirects the customer to the 3DS page where the customer needs to authenticate himself/herself by entering the OTP.
  4. 3DS response then goes to PG and the acquirer institution authenticates the transaction.
  5. Based on the success/failure of the transaction, the customer gets notified of transaction success or failure.

Here is a detailed version:

How-3DS-payment-gateway-has-affected-Ecommerce-industry-in-India

 

Hence, 3-D Secure payment gateways are devised for reducing all types of online fraud and simultaneously, helps merchants reduce the online costs of managing a payment service.

Since 3-D secure payment gateway has brought the e-commerce Industry a further trigger to the success, the benefits are worth a glimpse:

A significant increase in the confidence of online buyers:

The advanced technology, which is a 3-D Secure payment gateway, has made the masses realize how convenient and secure it is to indulge in online payments. This has led to an increase in online shopping for almost everything from grocery to apparel. Simultaneously, the convenience of online payments has furthered the trend of online payments.

Validation of card payments (debit):

Since debit cards were not allowed for making financial transactions earlier because of the security reasons, many customers with only debit cards remained scooped out. Although, with the introduction of 3DS (3 Domain Secure) payment gateways, the confidence of RBI has increased on the safety of online payments and it has validated the same for making payments. This has led to a hike in the number of people who accept payments and make online payments.

Advanced and Trustworthy technology:

A 3-D Secure payment gateway is a successful and trustworthy technology, which considerably has reduced online frauds, especially when in sync with fraud prevention tools like Cardholder Verification value, Address verification services, etc.

Fraud reduction:

3DS reduces fraud and protects merchants as well as customers’ data making online payments safer. Safe online payments improve brand loyalty and increase the customer base. Customers gain more confidence in online payment which boosts online shopping.

Frictionless authentication:

3DS offers frictionless authentication without compromising security and adding transaction efficiency.

Chargeback liability shift:

3DS provides a chargeback liability shift. This can be considered as an extra layer of protection where liability for chargebacks is shifted from merchant to cardholder’s bank.

With all the benefits to the merchant services and merchants, the e-commerce industry has put all their faith in a 3DS (3 Domain Secure) payment system undoubtedly.

Ever since online payment acceptance have entered the ecosystem, the main concern has remained that of online frauds. However, seeing how technology has leaped forward with a high level of security infused, it is so much vividly evident that it has turned out to be a much-needed relief for the fast-spreading e-commerce industry.

How to get started with 3DS?

To get started with 3DS for online payment acceptance, you should have a card payment acquirer that uses 3DS and a merchant account.

Lyra provides a payment gateway that offers 3DS authenticated payment processing along with PCI compliance (PCI DSS V3.2.1) providing complete data security for merchants as well as customers

 

Get started with Lyra Payment Gateway with safe and secure online payment acceptance.

 

What is Payment Gateway?

A payment gateway is an online payments service that, when integrated with the e-commerce platform, is devised as the channel to make and receive payments.

The procedure to receive payments includes the customer requiring to fill in some details, like credit/debit card number, expiry date, and CVV.

Post this, the customer proceeds to make a payment, which then, gets transferred from the buyer’s account to the seller’s (merchant’s) account.

What is the Role of a Payment Gateway

The main role of an online payment gateway is to approve the transaction process between merchant and customer.

It plays a vital role in the online transaction process and authorizes transactions between merchants and customers.

It helps the e-commerce platform aggravate its existence with ease of payments to offer to its customers.

Besides, it also leads to the e-commerce platform gaining rapport for leading to not only quick and secure payments but also convenience and success with the same every time.

A payment gateway service can be provided by banks directly or a payment service provider authorized by a bank.

How Does Payment Gateway Work?

Straight away coming to the functioning of an online payment gateway, it follows a procedure for settling the payment every time.

This happens when a customer places an order for a service/product from a payment gateway-enabled merchant.

From filling in the card details to payment finally flowing into the merchant’s account and settling, the payment gateway passes through a variety of steps-

STEP 1: After the customer places the order online and proceeds to make payment for the same, he/she needs to enter credit/debit card details.

STEP 2: The card details are encrypted in a secure way with Secure Socket Layer (SSL) encryption to be sent between the browser and the merchant’s web server.

A payment gateway eliminates the merchant’s Payment Card Industry Data Security Standard (PCI DSS) compliance obligations without redirecting customers away from the website.

STEP 3: After this, the merchant forwards transaction details to their payment gateway, which is also an SSL encrypted connection to the payment server hosted by the payment gateway.

STEP 4: The payment gateway converts the message from XML to ISO 8583 or a variant message format (format understood by EFT Switches) and then forwards the transaction information to the payment processor used by the merchant’s acquiring bank.

STEP 5: The payment processor forwards the transaction information to the card association (I.e.: Visa/MasterCard/American Express).

STEP 6: Next, the credit card issuing bank receives the authorization request, verifies the credit or debit available, and then sends a response back to the processor (via the process same as for the authorization) with a response code (i.e., approved or denied).

The response code also helps to communicate the reason for the case of a failed transaction, for example, insufficient funds, and so on.

STEP 7: The processor then forwards the authorization response to the payment gateway, and the payment gateway receives the response and forwards it onto the interface used to process the payment.

This process is termed Authorization or “Auth”. This entirely takes around 2-3 seconds in general.

STEP 8: The merchant then fulfills the order and the above process can be repeated but this time to “Clear” the authorization by consummating the transaction.

Typically, the “Clear” is initiated only after the merchant has fulfilled the transaction (I.e. shipped the order).

This results in the issuing bank ‘clearing’ the ‘auth’ (I.e. moves auth-hold to a debit) and prepares them to settle with the merchant acquiring bank.

STEP 9: The merchant submits all their approved authorizations, in a “batch” (end of the day), to their acquiring bank for settlement via its processor.

This typically reduces or “Clears” the corresponding “Auth” if it has not been explicitly “Cleared.”

STEP 10: The acquiring bank makes the batch settlement request of the credit card issuer.

STEP 11: The credit card issuer makes a settlement payment to the acquiring bank (the next day in most cases).

STEP 12: The acquiring bank subsequently deposits the total of the approved funds into the merchant’s nominated account (the same day or the next day).

This could be an account with the acquiring bank if the merchant does their banking with the same bank or an account with another bank.

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Payment Gateway Architecture

Payment-Gateway-Architecture
Payment Gateway Architecture

What to look for in a Payment Gateway? – How To Pick The Right Payment Gateway For Your Ecommerce Website

Any business that collects online payments or accepts credit/ debit card payments, needs an online Payment Gateway.

It’s important to research and find the correct payment gateway provider that fits your unique needs.

A payment gateway should offer numerous benefits, namely, quick settlement of payments, the hassle-free flow of transactions, and a superb overall experience every time.

So, what more is there to look for in a Payment Gateway?

  • Security:  A secure transaction is a first and foremost need for any business that collects payments online. Customers must trust in the transaction and that their personal and financial information will be safe while online transacting. It should ensure the security of the information a customer put in. Such a service should be compliant with PCI standards. 
  • Customer experience: A payment gateway should provide unique and swift payment processing and payment customization. It should be mobile optimized, secure and convenient which will provide customers with a seamless shopping experience. 
  • Worldwide Payment Acceptance: We live and work in a global market. A payment gateway should support multi-currency transactions  
  • Merchant Onboarding: A payment gateway should provide the quickest merchant onboarding, as online transactions are a primary need in today’s world. The processing and setup fees and rates should fit in the merchant’s budget.
  • Payment Options: Last but definitely not least, a payment gateway should offer multiple payment options. A customer should be able to choose a payment method he/she is most comfortable with, be it Credit/Debit Cards, Netbanking, Mobile Wallets, UPI or any other.

Think you need a Payment Gateway – Talk to our Experts

Here are some ways with which a payment gateway keeps information secure

Security for merchants and security for customers:

A payment gateway ensures the security of the information you put in. Here is a list of things that an online Payment Gateway does to keep your data safe:

  • The standard security protocol used in online transactions is SSL(Standard Security Layer) It protects sensitive card information and authenticates the customer’s identity. A payment gateway with SSL can be identified by checking the ‘https’ at the beginning of the web address.
  • To authenticate customers and merchants an additional layer of security can be implemented under the 3ds(Three-Domain Secure) protocol. This is a messaging protocol developed by EMVCo.
  • Data encryption is one of the most important security measures in the payment gateway, where the data appears scrambled and illegible to anyone but you.
  • Another unique way for a secure transaction via payment gateway is tokenization, where sensitive card details are replaced by a string of encrypted characters

Read More: What is 3DS (3 Domain Secure) Payment Gateway?

Benefits of payment gateway

Gone are the days when, a Payment Gateway was used to be a tool for transferring money, now a Payment Gateway can do a lot more than that, want to know? Here is a glimpse:

  • White label 
  • Fraud and risk management
  • PCI DSS Wallet
  • API tools for easy integration

What are Payment Gateway Charges

Charges for payment gateway generally depend on many elements like,

  • Business model
  • Features and services merchants require from a payment gateway
  • Set up fee
  • Software fee
  • Maintenance fee
  • Transaction discount rate according to the payment mode

With zero setup fee and the quickest merchant onboarding, opt for Lyra’s Payment Gateway.

Accept payments online for your business globally with 100+ payment options.

Keep your digital transactions safe and your customers happy

Read about the latest fintech updates and news at Lyra Linked In Page

Want to set up a payment gateway for your business? Contact us

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Reasons Retail Businesses should use EPOS App

Having a retail business means, you consider keeping your business up to date so as to keep up with the pace of advancements.

The most important function is conducting thorough research for your product’s demand, you devise a business plan to trigger the success with enough and sufficient supply to the market.

Also, a businessperson must know that no amount of planning is complete without acquiring a point of sale software (payment channel) for a retail business.

Quite recently, E-POS App has set a new standard for companies and sales transactions despite the success of POS terminals over the past years.

Now the reason for E-POS Applications having taken over is simply the better business experience with this advanced technology.

About E-POS:

E-POS App is advanced technology available in the form of an API (Application) in your mobile phone. Apart from making your transactions quick, secure, and convenient, this technology is apt for the omnichannel aspect of your business.

While you support your end customers with home deliveries, this API sits in the mobile phone with the deliveryman and reaches the customer’s doorstep for instant payment.

Enabling on-the-spot payments, it generates a payment link for the same, which can be shared with the customer via a QR code or any communication channel (social media, email, SMS, etc.) to make the payment from Debit or Credit cards, Net banking, UPI, etc.

From being a handy POS machine to enabling quick payments, the E-POS application is devised to make the businessperson carry out hassle-free day-to-day online transactions.

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Click here to Download EPOS App

Electronic Point of Sales (E-POS) App for a retail business:

Electronic-Point-of-Sales-(E-POS)-App-for-a-retail-business

Available right from the mobile play store

The e-POS app is equipped with the feature to be available right from the play store. This feature adds to the convenience of the merchant as it can be downloaded with sheer ease from a single platform.

This platform is easy to access, provides the merchant with an E-POS app and makes collecting online payments extremely easy in no time.

Payment link/QR-code enabled

E-POS app is a payment link/ QR-code enabled platform. This app provides the merchant with the feature to share the QR-code on multiple other platforms for easy and multiple payment ways.

Another way to collect payments using the EPOS app is via sharing the payment link. Both the QR code and payment link generated are customized for the mentioned payment.

This payment link can be shared on any social messaging application for online payment collection.

Quick processing of payment

The system is developed with the ability to quickly process payments and thus, does not involve much time for either the merchant or the customer. With the minimum information for input and generating QR code/payment link, it saves time and effort.

Equipped with the feature of accepting various payment methods

EPOS application provides various payment methods that are available on this easy-to-operate and secure platform for accepting online transactions. This feature allows the merchant to accept online payments from various methods of payments available to the customer, and thus, it retains customer loyalty.

Backed by robust technical support

E-POS App is developed to provide quick, secure, and convenient online transactions and is backed by robust technical support. In the case of Lyra’s E-POS, it is backed by robust and secure technical support to provide the customer as well as a merchant with hassle-free digital transactions. This feature is to avoid chargebacks and frauds.

Developed to help the merchant operate it with minimum efforts

This platform for receiving payments in a time when people prefer payments through cards or apps, it is mandatory for a retail business to have an E-POS application. It is specially devised for the merchant to be able to operate the same with minimum effort and maximum ease.

It does not require any complicated information to generate a payment order.  As you can see, the merchant only needs to enter the minimum required information. The use of this mobile application does not need any crucial information from the customers like their personal details, bank details, etc.

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Benefits of using EPOS Application for Online Payment Acceptance

Let’s go through the benefits that follow, which make the E-POS app the apt method of digital transactions for a retail business:

It accepts maximum payment methods

EPOS app, apart from being an easy-to-operate and easy-to-opt method, is known for its ability to accept maximum methods of digital payments. Nowadays, the majority of people rely on mobile as well as cards to make online payments and do not prefer carrying cash with them.

This has successfully made the EPOS app popular amongst businesses, especially, small businesses. Thus, the Lyra E-POS app has proved to be the most convenient, reliable, and secure way of carrying out day-to-day online transactions for the masses.

Helps to organize sales targets better

An EPOS application helps the merchant better its sales target with the facility to help you track individual performance amongst the staff. EPOS makes for a greatly organized sales target with this.

This implies that the merchant can identify exactly where the business needs improvement in terms of boosting the sales and work upon the same.

Easy to Operate and Mobile

A quality E-POS system is easy to operate with minimum effort and process for digital transactions. Moreover, it is mobile and can help with omnichannel businesses. Specifically, E-POS by Lyra is an easy-to-operate system and takes very little training.

Even a demo of the working of the E-POS app is enough for the merchant to start using the same and avail benefits of its many features. Such simplicity in operating and the mobile feature make it the perfect fit for your retail business.

Secure Platform

Lyra EPOS app provides a secure platform with the benefits of fraud minimization and minimal chargebacks. In addition to the compliance with PCI DSS V 3.2.1 and card schemes, this mobile application is 3D Secure and is equipped with Secure Lyra Payment Gateway

Such security helps the merchant not only avoid revenue loss but also aids in maintaining customer loyalty. With maximum security and quick transactions, customers remain assured of the transaction platform is reliable.

Hence, it makes customers make frequent purchases from the same store for future requirements.

 

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Let us help you find the Best Payment Solution

If you are looking for an alternative to a bulky POS, Lyra EPOS app is a great fit for you.

Many small businesses are worried about the cost and complexity of a full POS system. In addition to hardware and software costs, POS has to be installed, maintained, regularly updated, and needs trained staff to use it.

What is an EPOS (Electronic Point Of Sales) app?

EPOS stands for electronic point of sale and is specially designed to provide the user with a convenient method of receiving payments or making transactions.

Being available on the play store for easy downloading, it offers quick access to receiving payments without going through any hassle. It even caters to the needs of an Omnichannel business as it is readily there on your mobile phone for making quick and convenient transactions. 

EPOS app, being an advanced version of the POS, has taken over the finances/making transactions of many businesses altogether. EPOS comes with many distinct features of which there are myriad benefits.

It is a widely accepted platform recently as it is quite convenient for businesses to keep an EPOS handy, which is right there in one’s mobile phone.

What to look for in an EPOS

If you want a payment collection solution which,

  • Offers seamless payment collection experience
  • Accepts all payment types around the world, including eWallets.
  • Offers real-time payment collection
  • Provides Fraud & Chargeback minimisation
  • Is PCI DSS 3.2.1 secured
  • Is backed up with secured payment gateway
  • Is backed with a route switching technology
  • Provides link-based sharing payment collection

Lyra EPOS is a way to go

As far as Lyra’s EPOS is concerned, it is a ready-to-use mobile application that accepts any form of payments on the go and hence, remains by your side to help you in carrying out quick, secure and convenient transactions on a daily basis.

Link-based payment collection

The merchant just has to enter the amount and generate a payment collection link with a simple click. This link can be shared with the customer either via QR code or any communication channel (social media, email, SMS, etc.) 

Read more: Know how whatsapp can make payment collection for your business easy

Why Payment via EPOS App is easy?

  1. Easy to share links
  2. Links with variable and fixed amounts
  3. Collect payments in installments
  4. Can share link anytime anywhere
  5. Collect money without any website or installing any additional application 
  6. No interoperability issue

Who can use EPOS: suited for all businesses, both online and offline.

EPOS can be used by all offline and online businesses.

Using EPOS for payment collection is not limited to the big merchants or companies, it is suited for all types of business, may it be online offline, small or big.

Some entrepreneurs, small merchants, home-based businesses like local flower shops, dairies, home tutors or tuition classes don’t have a business website and can not afford costly hardware like POS machines.

Many home-based businesses use social media sites like Facebook or Instagram for selling their products online. These types of businesses can also use EPOS for payment collection.

Some local shopping stores use virtual terminals or swipe machines which are costly, hard to maintain and need the training to handle payments. Using EPOS can be a great alternative to collect online/digital payments removing costly hardware out of the picture.

What are the benefits of an EPOS App?

Easy for a merchant to collect payments: Merchant just has to log in and enter the amount for generation of payment link. Lyra Epos provides a secure platform with quickest merchant onboarding.

Easy for customers to pay: EPOS offers multi-channel payment collection, so the customer can use any channel for digital payment like e-wallets, credit cards, debit cards, net banking, etc. The payment link is backed up with the most secure Lyra Payment Gateway which ensures safe transactions.

A great way to build customer relationship strategy: EPOS creates QR codes or payment links which can be shared via any messaging app, via email or via any social media app.

As the link can be copied, a merchant can send a customized message to the customer with an embedded payment link. These links can also be embedded directly into electronic/ online invoices for faster payments.

This can help merchants build great customer relationship strategies. 

Click here if you think Lyra EPOS if for you

How Lyra EPOS (Electronic Point of Sale) application works?

How-does-epos-app-works

 

Features of Lyra’s EPOS

  1. Available right from your mobile play store
  2. Payment link/QR-code enabled
  3. Quick processing of payment
  4. Multi-card payments
  5. Debit, Credit card, and Net Banking options
  6. UPI and Wallet payments
  7. Backed by strong and secure technical support
  8. Easy and quick operability

Lyra’s EPOS is an extremely useful application for consumers and businesses alike as it helps save time, adds value and makes shopping full of convenience. At the heart of any business may it be a retail environment, restaurant or supermarket should be a good portable technology like the EPOS application, which makes all of this possible.

Interested?

Contact Us if you think EPOS App is for you

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