Advertisment

Fintech startups catalyzing payment processes

author-image
PCQ Bureau
New Update
Fintech

The advent of the mobile phone with the internet opened a world that was earlier unimaginable. The Fintech companies that used these two technologies revolutionized the way we make payments and borrow or lend money. With innovation as the key factor, these fintech startups in India have made the payment process simpler and quicker, but also safer. While the same work done through banks needed at least 24 hours for the transaction to be complete, today payments can be made instantly. It has also made it easier to borrow a loan or to make payments. This led to an increase in ‘no cash’ payments and finally, digital transactions increased. Mentioned below are the best fintech startups that are popular in India for their various advantages.

Advertisment

Razorpay

Accepting more than 100 payment modes including cards, UPI, Razorpay is the gateway that came as a boon to businesses that wanted to go digital. The perfect solution for online businesses, it provides safe and secure payment options, which is a pre-requisite for the business owner as well as the customer who pays the money through digital mode. It allows businesses to accept, process, and disburse payments that have been received in a safe manner.

Paycorp.io

Advertisment

Paycorp.io is a formidable cloud-based recurring payment solution provider for business across scale and size. For businesses, it in fact does much more than just easing the payment process. While monthly, bi-monthly or weekly payments are sorted with Paycorp, it enables automated payment of bills, salary to staff, EMIs, and other payments that recur at a fixed interval. Various digital touchpoints like WhatsApp, link push and portal allow payment through ACH, UPI, cards connected to the bank account, thereby keeping the process simple, and interface with six banks ensures quick transaction with zero wastage.

Paytm

Paytm is one of the most popular modes of payment when it comes to secure and fast UPI payments. Serving the purpose of enabling cashless transactions, Paytm is the epitome of online payments. From the grocery vendor to the vegetable seller to your electricity bill to posh restaurants, all the restaurants accept Paytm for payment. The digital transaction is instant and the payment mode is acceptable to every vendor.

Advertisment

Google Pay

An initiative of Google, this digital wallet platform enables In-app payments, online transactions as well as in-person payments. It enabled contactless training during peak Covid when people did not want to deal in cash that had passed through many hands. With zero charges, free money transfers, UPI payments through Android phones, tablets, and watches, it is a favorite when one doesn’t want to carry cash yet enjoy the freedom digital payments offer.

Stripe

At Stripe, they don’t just make a payment gateway but also build websites that enable safe and secure payment options. It is accessible to retailers who want in-person payment, and want to verify payments immediately, as well as to subscription-based businesses, platforms, and marketplaces. It can also send invoices, issue virtual and physical cards, manage the balance sheet as well as seek finance for the company automatically. Moreover, it helps in beating online fraud cases too, by ensuring that only safe transactions are carried through.

Advertisment