Banking has undergone an evolution in the past few decades, wherein, traditional brick & mortar banking has given way to electronic banking such as tele banking, ATMs, net banking etc.
In the days before the internet boom, you would need to visit your bank on a regular basis for the smallest of things. Today, you can control your finances at anytime, from anywhere with the net banking facility provided by your bank. You can do everything from paying your bills to purchasing a product directly online.
For a merchant operating online, this change represents a golden opportunity. India is a credit adverse society, where only a small percentage owns a credit card but almost everyone has a bank account. By offering net banking as a payment option on your online store, you can enable people of all economic backgrounds to pay for your products or services easily. It also eliminates the need for customers to rely purely on a credit card to purchase and pay for any type of product or service online. The best example and one of the greatest success stories of net banking as a payment option is IRCTC or Indian Railway Catering & Tourism Corporation Limited. Netbanking contributes to approximately 50% of their sales.
CCAvenue, your online payment solution provider ensures you the widest reach with about 40 Indian banks. It enables you to accept net banking initiated payments from your customers via direct debit from the customers online account in any of our associate banks. With your CCAvenue account, you get a powerful engine working for you to increase your profits.
In short, the simple step of adding a net banking payment option to your online store widens your market reach tremendously. It also enables you to stay ahead in the rapidly changing world of eCommerce.