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09.10.2013

The future of instant payment systems on the Indian market

The future of instant payment systems on the Indian market The future of instant payment systems on the Indian market
After CyberPay entered the Indian market, offering a system of instant payments via payment terminals, experts began to talk about an impending rise in interest toward various services offered to the population, which werent particularly common in the country up to this point. At first glance this connection appears unclear. How is the emergence of payment terminals related to a rise in cell phone subscriptions or increased sales of satellite dishes?
But the link exists, and its very simple: as paying for a service becomes more simple and convenient, more and more people want to use that service. This was already picked up on by many famous companies, who accept payments for their services via CyberPay payment terminals. What future do they see in the newly-emerging instant payment system? To answer this question, let us briefly analyze the situation.
Its no secret that CyberPay was the first company on the Indian market to provide customers with the ability to make payments independently, without lines or looking for the necessary bank. It follows that until recently, peoples choices were limited. They werent able to freely pay for services they wanted to use, and for that reason they refused many of those services.
The appearance of payment terminals has changed the situation.
First of all, many services providers were given the opportunity to multiply their points of sale by several times. Payment terminals also guarantee deep penetration of many remote Indian markets, including villages. This kind of strategy greatly increases a companys profile, and also stimulates people to use the services it offers.
Second of all, there is no longer a need to waste times waiting in lines. Payment terminals make it easy to pay for a wide variety of services simply by tapping the touch screen a few times. Paying for Internet or utilities in only a few minutes is truly convenient. Its as simple as one, two, three.
Third of all, the payment process has been simplified. Paper forms are no longer necessary. You pay your bills, get your receipt, and thats it. The money is transferred almost immediately.

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