Freelancers Payment Methods Available in India
There are several payment methods available to freelancers around the world, but when it comes to selecting the right option from the multitude of available payment options, what type of payment is best?
By 2025, India’s freelance community is expected to reach $20-30 billion. Software experts are also forecasting an increase of $2.7 trillion in global GDP as a result of the online freelance marketplace.
We are likely to see these predictions becoming reality sooner rather than later as the freelance community continuous to grow. Let’s take a closer look at India’s gig economy and understand what’s driving it.
During the past few years, India has seen a significant increase in the freelance community, thanks to its boom in start-ups. It currently has the third-highest number of start-ups, and has been minting unicorns like crazy.
Due to their competitive rates and easy availability, Startups across the world has choosing to hire Indian freelancers because they are experts in their fields, easy to hire, and less expensive than permanent employees.
As freelancers continue to flood the economy, the freelance community will continue to grow because of better work-life balance, more flexibility, higher wages, and better-skilled opportunities.
A freelancer usually gets paid by invoicing his or her clients. They can also use third party payment service such as Paypal, Chargebee, Easebuzz, or Stripe to pay you.
Payment methods available to freelancers in India with their benefits
Nowadays Freelancers don’t get paid on time! This just seems unfair, doesn’t it? So, what can we do to avoid situations as a freelancer?
When choosing a payment method, there are a few things to consider. What is your preferred method of receiving payment? Do you find online payments more reliable? Do you know what methods are currently used by other freelancers?
In order to provide excellent service as a freelancer or consultant, you need to provide a variety of payment methods. These are the most common.
1. Easebuzz InstaCollect
A virtual account can be created for free and allows you to better reconcile each instant payment. Virtual accounts encompass an account number, an IFSC address and an UPI handle.
A custom brand prefix can be added to the account to provide your clients with a better understanding of your business.
2. Collect Payments via payment Links
You can share Payment links for your clients if you’re freelancer or unregistered business with a fast settlement or alternate payment method.
3. Paying freelancers with an e-POS app
In minutes, you can create payment links that can be shared over Facebook, Instagram, WhatsApp, Email, SMS, and any other social media platform no matter whether you are a freelancer or a home business owner.
Example: Easebuzz has cloud-based ePOS application that provides your clients with the option to pay with their favorite method, such as credit cards, debit cards, bank accounts, UPI, wallets, etc.
4. Easebuzz Wire
Receiving money through wire, which are completed through banks, is the most reliable way to send money to India, however it can take some time.
Transferring money by wire transfer, known as a wire transfer, is a safe method of transferring funds between banks using the SWIFT system, Clients can make a wire transfer from their bank to your Indian bank account by visiting their bank or using their online banking.
5. Pages for accepting payments for free
There are large numbers of freelancers who lack the technical skill set to create payment pages and websites that will enhance their digital presence.
Example: With Easebuzz webstores, you can begin transacting within two minutes by creating your free page, getting instant KYC done, and starting to transact.
6. Tax-compliant invoices for payables
GST-based invoices for freelancers can be created in one place including GST, discounts, shipping detail and letting the solution figure out a total for them.
Make sure you are aware of your tax liability as a freelancer. Use GST calculators to get GST-inclusive and GST-exclusive prices.
Bottomline:
Prior to starting the project, discuss with your clients the best freelance payment method. You should always be clear about how you can be paid as a freelancer in India after all, freelancing in India is a big challenge in itself.
FAQ’s
1. What options are available to freelancers in India for receiving payment from clients?
Generally, freelancers get paid by emailing their clients or by using third-party payment providers, including PayPal, Stripe, Easebuzz or Chargebee.
2. How to ensure you get paid as a freelancer?
Getting paid as a freelancer is about invoicing your clients and asking them to pay you through a third-party service like Stripe or Easebuzz.
3. How to receive payment for freelance work in India?
Easebuzz offers a variety of payment options for freelance work in India, such as Easebuzz Instacollect, Payment Links, ePOS and Easebuzz Wire.
4. Is there a payment gateway that is best for freelancers?
If you’re a freelancer, a consultant, a teacher, a business owner, a self-employed professional or home-based entrepreneur, Easebuzz makes accepting payments easy for you!
