India\u2019s digital economy is growing at an unprecedented pace, making it a lucrative market for international businesses. However, many global companies struggle to convert Indian customers because they don\u2019t speak India\u2019s payments language.<\/span><\/p>\n Unlike Western markets dominated by credit cards, India operates in a <\/a><\/span>UPI-first world<\/b>. The <\/span>Unified Payments Interface (UPI)<\/b> accounts for nearly <\/span>80% of all digital transactions<\/b>, making it the backbone of Indian payments. Additionally, <\/span>RuPay<\/b>, India\u2019s indigenous card network, has gained widespread adoption, especially after its recent integration with <\/span>credit on UPI<\/b>.<\/span><\/p>\n If your business does not support these payment methods, you\u2019re <\/span>missing out on the Indian market<\/b>. Let\u2019s explore why global businesses struggle with Indian payments and how you can fix it.<\/span><\/p>\n Ready to Unlock India?<\/a><\/p>\n UPI has transformed the way Indians pay. As of <\/span>January 2024<\/b>, UPI processed <\/span>12.20 billion transactions<\/b> worth <\/span>\u20b918.41 trillion<\/b>\u2014a <\/span>52% increase in volume<\/b> and a <\/span>42% increase in value<\/b> compared to the previous year.<\/span><\/p>\n Despite UPI\u2019s dominance, many international businesses <\/span>only accept credit cards and PayPal<\/b>, overlooking the payment method that most Indian consumers prefer. This leads to:<\/span><\/p>\n RuPay, India\u2019s answer to Visa and Mastercard, has rapidly gained market share. It now accounts for <\/span>16% of all credit card spending<\/b> in India. With <\/span>RuPay credit cards now enabled on UPI<\/b>, its usage is only set to grow.<\/span><\/p>\n Ignoring RuPay means missing out on millions of customers who rely on it for online transactions. Many Indian consumers don\u2019t even own an international Visa or Mastercard, making RuPay support critical for any business operating in India.<\/span><\/p>\n Even if businesses do accept international credit cards, they often face <\/span>low success rates<\/b> due to India\u2019s strict security protocols:<\/span><\/p>\n Without <\/span>native OTP support<\/b> and a payment system optimized for Indian banks, global businesses experience <\/span>frequent payment failures<\/b>, frustrating customers and leading to abandoned purchases.<\/span><\/p>\n To unlock the Indian market, international businesses must integrate UPI. This enables them to:<\/span><\/p>\n \u2714 Accept instant, seamless payments from <\/span>500M+ active UPI users<\/b>.<\/span> By accepting RuPay, businesses gain access to a <\/span>growing segment of Indian shoppers<\/b> who rely on RuPay debit and credit cards for online payments. Supporting RuPay builds trust and increases conversion rates.<\/span><\/p>\n To maximize success rates, businesses need a payment partner with:<\/span><\/p>\n \u2714 <\/span>An in-house UPI switch<\/b> for the highest success rates on UPI transactions.<\/span>1. The Problem: Why Global Businesses Fail to Convert Indian Customers<\/b><\/h2>\n
A. Ignoring UPI \u2013 The Default Payment Method in India<\/b><\/h3>\n
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B. Overlooking RuPay \u2013 India\u2019s Own Card Network<\/b><\/h3>\n
C. High Failure Rates for International Card Payments<\/b><\/h3>\n
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2. The Solution: Aligning with India\u2019s Payment Preferences<\/b><\/h2>\n
A. Accept UPI Payments<\/b><\/h3>\n
\n<\/span>\u2714 Offer <\/span>UPI Autopay for subscriptions<\/b>, making recurring payments easy.<\/span>
\n<\/span>\u2714 Support <\/span>credit on UPI<\/b>, allowing RuPay credit card holders to transact effortlessly.<\/span><\/p>\nB. Enable RuPay Card Payments<\/b><\/h3>\n
C. Improve Payment Success Rates with Localized Solutions<\/b><\/h3>\n
\n<\/span>\u2714 <\/span>Native OTP integration<\/b> for smooth and secure card transactions.<\/span><\/p>\n3. How Razorpay Helps International Businesses Accept Indian Payments<\/b><\/h2>\n