Online Payments - Vardaan
June 22, 2021
Admin
June 22, 2021
Admin
The fundamental standard behind the business is that one party offers a service or goods in exchange for getting paid by the other party. Hence, the entire profit part of this interaction demands the ability to accept online payments.
As the prominence of eCommerce has risen significantly in recent times, arriving at a 46% user entrance rate for digital business in 2020, the benefits of digital payments have never been so attractive to merchants. As a result, having the option to accept online payments has become essential for organizations small and big. With it, the significance of electronic payment systems has become considerably more pertinent.
Looking at the growing importance of online payments, Vardaan also added a new feature in the application through which merchants will accept online payments for offline and online orders.
Online orders:
Online orders in the Vardaan refer to the marketplace where the end customer can select the online payment option and pay the merchant online.
When it comes to offline orders, merchants can share the UPI link in the invoice through SMS and receive the payment.
For both the receivable payments, the order status gets updated automatically.
How to enable the available online payments option in the application?
Let us go through this step-wise:
Step-1: Go to the store.
Step-2: Open store settings
Step-3: Click on online payment settings
Step-4: Enable collect payment online mode.
Not only online payment, if you want, but you can also choose cash on delivery option; let us go through that too step-wise:
Step-1: Go to the store.
Step-2: Open store settings
Step-3: Click on online payment settings
Step-4: Enable cash on delivery option.
You can also give the customers to choose from both COD and online payment options by enabling both options together.
How to set up online payment in the application?
Before the merchants can start to receive the payments, they need to set up the online payment by adding their UPI or bank account details in the app.
Let us see the steps:
After enabling the online payment mode:
Step-1: Go to more options.
Step-2: select payment details.
Step-3: Add UPI or bank account details.
And there, the merchants have the online payment set done successfully in just some minutes.
Terms related to online payment processing in Vardaan:
- Payout
The payout will be instantly processed as soon as the order status changes to done or delivered, which means the payment will be deposited in the merchant account by deducting the applicable charges.
- On Hold
The payment will be on hold until the order status is not changed to done or delivered.
- Refund
Once an order is canceled, the payment will be refunded to the end customer by dedicating the applicable charges.
Let us once go through the transaction charges:
For Marketplace charges:
| Credit Card | 2% |
| Debit Card | 2% |
| Wallets | 2.25% |
| UPI | 1.25 % |
| Net Banking | 2% |
For Payout Charges:
| Up to 1000 | Rs. 4 |
| 1001-5000 | Rs. 6 |
| 5001-10000 | Rs. 7 |
| 10001 & above | Rs. 10 |
FOR ANY QUERIES, PLEASE CONTACT VARDAAN TEAM AT [email protected].
