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Guide to Payment Methods, How to Accept with Pros and Cons

Razorpay

They provide benefits such as credit building. To accept credit card payments, businesses need to establish a partnership with a payment processor, which facilitates the transaction. They must then set up a merchant account, essentially a business bank account that allows for electronic payments.

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Unified Payments Interface (UPI): Meaning and How it Works?

Razorpay

Users can also transfer money by selecting receiver’s contact from their phone book or entering the receiver’s contact number. Leveraging Existing Payment Systems UPI relies on the existing National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), and Immediate Payment Service (IMPS) systems for settlements.

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