How Payment Gateway Startups are providing a hassle free payment processing experience with low cost - PayKun
PayKun Payment Gateway was launched and registered in the year 2018 with the vision of making online payments easy and faster. The five friends aka the founders of this successful startup are Prashant Kambad, Nikunj Yadav, Vijay Yadav, Nirav Solanki and Deepak Dabhi. They came together and have given shape to this massive setup of the payment gateway with the primary intention to empower the small businesses and the startups to be financially strong and spread their base around the globe by enabling them to collect the payments from anywhere, everywhere.
It was a struggle for them to set up this but with their teamwork, they have successfully flourished. Prashant Kambad has developed the Paykun Payment Gateway technology, Nikunj Yadav manages the Server, Vijay Yadav looks after the business development as well as banking relations, Deepak Dabhi manages the Accounts, HR and Graphics and Nirav Solanki looks after the sales, marketing and customer service departments.
They plunged into this business out of nowhere with the realisation of the importance of the payment gateway and at the same time another realisation that it is a cumbersome task to get these services, especially for the small businesses. Before PayKun, the five founders had first set up a small freelancing business and had faced a lot of difficulties and failure in getting a payment gateway for it. They got to know the real struggle underlying in the scenario. The same resulted in the birth of this idea in their business minds to develop a payment gateway solution.
Technology and Finance together - FinTech
Technology is unstoppable now, the new ones are introduced every day and keeps on adding to the ease and speed. The cards and payment area is revolutionised with it, finance and technology together has been revealing the new world of easy payments. Payment Gateway is one such fintech development improvising with time and providing the secured access to the digital payments. The ecommerce customer can pay there and there with their preferred payment options in the most safe manner. But the website or mobile application is not necessary for all the businesses. Like, with PayKun the merchants can collect the payments with the payment links or master links, which are just to be copied, pasted and sent to the customers through any mediums such as messenger, whatsapp, email, etc. The master links would give an option to the customers to add the amount and the purpose. So, it has become very easy for the customers to pay online from the convenience of their house or wherever they are.
Payment Gateway Technology
The world's technology is moving at an enormous speed and it is very important to keep up with the same so that the demand is matched and the businesses excel in the competition. Payment Gateways play an important role in today’s businesses. They make it technologically modernized bringing the finance and the technology together and making it unstoppable by its varied features and facilities. Customers have become tech-savvy and smart and they know about everything and they demand everything. This has been prevailing in the payments as well, as there are so many options in making the online payments, and the customers would be demanding for any of them, it is necessary that they are included and offered by the businesses. Cash is outdated; at the same time the internet world is full of fraudsters and hackers, so a secured payment gateway is what the merchants and their customers look for.
On-the-spot payments add to the increase in the income for the businesses, as mentioned earlier. Today’s customers are always on a run, they want things easy and fast. So, when they have a fast checkout, which is secured, with their preferred payment options, they would pay. This decreases customer dropouts. Also, the reachability increases, as the customers from anywhere are able to buy the products or services. The customer’s tech-literacy has made them aware of the digital payments and their benefits, so online-offline businesses alike need to have the payment gateway in the current times.
PayKun provides the services for the businesses to accept online payments with 120+ payment options in a secured way. It is PCI DSS Level 1 secured and follows AES Encryption standards to make sure the payments and funds are safe. The payment gateway can be integrated easily into the website or mobile application of the respective business medium with its easy and hassle free Plugins and SDKs supporting major platforms like PHP, Magento, Android, iOS, WordPress, Ruby, Python, .Net, Node JS, Java, WHMCS, Prestashop, Opencart, etc. Its smart merchant dashboard is a one-stop tracking and management tool for all the transactions and functions of the online payments through PayKun. Basically, it has been trying to make things easy and secure for the business with its domestic and international payment gateway services.
It is essential that the merchants and the customers can reach out in case they have any queries, issues, concerns, complaints, anything when the hard-earned money is in question and the support team at PayKun has been given an effective training to be there for them to provide up to the mark responsive resolutions. It has been developed in the tier 3 city Bhavnagar in Gujarat with utmost struggle and there is a lack of skilled-employees at this place, so they had hired a good staff of 15 initially but it was too short. Also, the founders are cent per cent from the non-fintech background but they researched, struggled and finally succeeded.
There are various payment gateways present like Instamojo, PayU, CCAvenue, Razorpay and others. In such a short span of time, PayKun is considered among the top payment gateways in India. It stands out for its lowest transaction rates in the market with zero setup and maintenance fees. Also, it provides the free integration services. It has been providing better and faster services for onboarding and has the best support team for swift assistance. It has processed the transactions worth almost 20 million and of around 2 million in the last month itself. Also, it has 120+ payment options including all the popular ones. PayKun had started with 15 and now has been employing the staff of 50+ today.
The startups face major challenges and the struggle for its founders are real. Each and everything including the technology, finances, infrastructure, relations, compliances, everything needs to be done from the scratch. It would require a lot of time investment too.
In today’s time too, they need to put in a lot of time but also there is an ease. They consider work and personal life as equally important and have a very liberal atmosphere at PayKun.
PayKun's mission is to provide entrepreneurs with a simple, hassle-free and affordable online payment solution. Currently they have 10000+ merchants onboard and want to bring each and every genuine merchant under its roof with all the possible payment gateway features. Its vision is to empower the business enterprises of all sizes to accept digital payments for their business in the most secured and easiest way possible with a reliable platform.
PayKun Founders:
- Prashant Kambad: Founder and CTO
- Nikunj Yadav: Founder and Server Administrator
- Deepak Dabhi: Founder and CFO
- Vijay Yadav: Founder and CBDO
- Nirav Solanki: Founder and CMO
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