Payment Solution for Your Small eCommerce Business

When COVID19 hit the world, it was nothing less than a catastrophe. Millions lost their jobs and loved ones in a single tide. But, as we say, when life gives you a lemon, make a lemonade.


According to Worldpay FIS’s Global Payments Report (2021), India’s e-commerce industry will grow 84% to $111 billion by 2024 as COVID19 has created an urge and demand for e-commerce business.

Many people were forced to take up something new in their lives, and it mostly proved to be a beneficial deal for their pocket and life as it opened a better monetary life. 

This blog will help you understand:

  1. What are payment solutions?
  2. Why is a reliable, secure, and transparent cross-border payment solution important as an online seller?
  3. How to receive international payments for your e-commerce business?
  4. How can a payment processor be a beneficial tool for your cross-border e-commerce transaction?
  5. How to facilitate a safer online seller payment with a suitable payment processor?
  6. What is PingPong, and how can they be a beneficial payment processor for international transactions?

Ready to vigilant yourself with some insightful payment solutions concerning your e-commerce business.

What are Payment Solutions used in E-Commerce Business?

Just like transportation helps you move from point A to B, payment solutions also allow you to facilitate your payment from one individual, business, or organization to another party. 

Different types of payment methods used in e-commerce are as follows:

Cash Payment

It is one of the most common and most used payment methods in India. But, it has witnessed a decline due to heavy digital payment use and COVID19 (no-contact payment and social distancing).

Credit/Debit Card Payments

Contactless card payments are India’s most generally accepted payment methods. They are simple and allow you to save your card information, which is helpful for recurring purchases. 

According to data, credit cards are presently the most popular payment method for online shopping in India, accounting for 29 percent of transactions or $10.6 billion in sales.

Furthermore, contactless card payments will expand at a compound annual growth rate of 53% through 2021 in India.

Net Banking

It is one of the secure payment methods offered by online sellers on the marketplace. But, most people don’t use it much because they aren’t rightly equipped with the answers to the questions asked and register it with the bank. 

Bank Transfer

As the name suggests, you must have the recipient’s bank details such as – Name, account number, IFSC code, and Branch. It, again, could be an arduous process to feed in these details over and over. When you enter a minimal click, world bank transfer won’t be a very favorable payment solution.

Payment Processors

It acts as a secure bridge between the banks of both parties, checks whether the payee has enough funds to settle the payment, and checks for the legitimacy of the user. 

Once the payment is processed, the payment processor notifies that the transaction is complete. A few examples of payment processors are – PingPong, Payoneer, and many more. 

Payment Gateways

Its responsibility is to authorize and execute a buffer-free transaction between the payee and the receiver. It also permits payment between the two parties.

It collects and transmits payment data from the customer to the acquirer before returning the payment acceptance or refusal to the consumer.

Digital Wallet Payments

Google Pay, Paytm, PhonePay are some examples of e-wallets. E-wallets also act as a secure bridge to add your card and bank account to process payments. 

India has a high penetration of e-wallet users because it’s easy to use, follows 2-3 step authentication, is transparent, and quick. 


It is an entirely new world where and in India, many intrigued youngsters are trying their luck in the bitcoin world to get wealthy. It’s not a prevalent payment method but shall become one in the future if it gets regulated in India. 

Why are Payment solutions important for E Commerce business?

For instance, you are an online seller on Rakuten who ships their products to foreign countries. How will you receive payments? 

It is where payment solutions come. 

As payment solutions act as a bridge for national or international transactions, rather than simply delivering its functionality, you should ask these questions to yourself: 

  1. Is it fast and secure?
  2. Is it legitimate and compliant?
  3. What is the transfer time?
  4. Are there any additional perks?
  5. Is it too complex to use or navigational?
  6. Do they have customer experience in the public domain?
  7. What is the foreign exchange rate, pricey or digestible? Are there any other charges than transaction fees?
  8. What are the foreign currencies they support?
  9. Are there any hidden charges?
  10. Do they offer easy integration?
  11. Is their customer service knowledgeable, or work and auto-replies?
  12. What about the signup fees and maintenance fees?
  13. Does it support recurring payments?
  14. What form of payment do they support or integrate?

Too much?

Payment solutions play a significant role in one’s life, especially when running your own business, because successful business demands expansion. 

Expanding business to other geographies requires decent and reliable cross-border payment solutions to support a smooth and secure manner to receive international payments. 

PingPong: A Leading Payment Processor in the Fintech Industry

After understanding the types, working, and importance of payment solutions, let us give you the best cross-border payment solution to receive your international payments, and that is none other than PingPong. 

PingPong is a six-year-old cross-border payment solution and an absolute haven for – online sellers, freelancers, service providers, and Amazon sellers. 

But, why prefer PingPong when you have other decades-old payment processors in the fintech industry? 

We’ll answer you about how PingPong is the unsung payment processor in the fintech market. The following are the reasons that make PingPong stand from its competitors:

  1. PingPong payments offer free signup and zero maintenance fees.
  2. If you observe, cross-border payment rates can be as high as 4% – 6%, but PingPong won’t hurt your pocket much because they charge only 1% on the foreign transaction irrespective of the currency type and location. The 1% is inclusive of all the leverages. 
  3. It is secure and legitimate as it is registered under the Reserve Bank of India (RBI). Also, they are licensed and partnered with renowned and established financial institutions in foreign countries.
  4. With this cross-border payment solution, you can pay VAT, GST, and other taxes without currency conversion confusion.
  5. One can manage multiple currencies under a single dashboard.
  6. PingPong allows easy integration to freelance websites, Amazon, and other online marketplaces. 
  7. As an Indian online seller having international visibility, you can withdraw funds directly to your local India bank account in INR, USD, GBP, EUR, CAD, AUD, and JPY. 
  8. You will get a free digital Foreign Inward Remittance Certificate (FIRC) after every international transaction. 
  9. Zero hidden charges. 
  10. Also, they don’t have automated bot replies but knowledgeable and responsive solutions to the problems. 
  11. You can withdraw your money at a profitable and real-time market rate as PingPong provides its customer with a real-time currency conversion calculator that will show how much you will receive after 1% foreign exchange is deducted. 

Changing trends in the E Commerce Payment world in India 

As initiatives like ‘Digital India’ and ‘Skill India’ are mobilizing the country with the internet and other skills, Indians are scaling up their game to go digital. 

While the digital age has pushed many of us to enter the e-world and adopt online payments in our daily lives, COVID19 made the push more assertive, forcing people from different walks of life to accept online payments. 

With the change in the payment cycle, e commerce has also witnessed a surge. Due to shops shutting down, many have shifted from offline to online stores, increasing their reach. 


  1. With a compound annual growth rate of 26.5% projected through 2021, India’s e commerce business is a rapidly expanding potential for the e-commerce industry. 
  2. India’s e-commerce world costs over $36.5 billion, and it has routinely grown at double-digit rates in recent years.
  3. On Indian turf, mobile payment is becoming a dominant payment mechanism for e commerce purchases. To your surprise, mobile commerce accounts for 46% of transactions, and it shall face a rise at a 31.2% compound annual growth rate, calculating its value up to $49.8 billion by 2021.
  4. Mobile commerce accounts for more than 36% of all e-commerce transactions in India. 

Mobile apps are becoming a trend because people use their smartphones for payment in recent times rather than taking out their cards for swipes and taps or cash payments. 


When you start your business, finding the right business idea, sorting raw materials, and other steps are essential, but finding the right cross-border payment solution is also a crucial step.   

Therefore, kick start your e commerce on a positive note by mending the payment part. 

Always tag along the suitable payment processor to receive cross-border transactions. Be vigilant and not sorry when you look at your savings.


Ajay Deep

Ajay Deep is a young enthusiast who Loves Chandigarh and is always eager to make this beautiful city even more beautiful. A Mechanical Engineer By Chance and Working in an IT MNC by Choice. A Writer, Photographer and a Budding Entrepreneur. A Designer, Developer and Digital Marketing Expert. In brief : A Jack of All Trades and Master of Few :) You may reach Ajay Deep at
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