Cleverbridge, a Merchant of Record (MoR) for software and SaaS companies, has introduced Net Banking as a supported payment method in India, expanding its global payment portfolio and local market coverage.
India, home to over 1.4 billion people, represents one of the world’s fastest-growing digital economies. By collaborating with a local payment service provider, Cleverbridge now facilitates transactions through more than 85 banks for one-time payments and 55 banks for recurring subscriptions via eNACH mandates. This integration offers global clients a compliant method to process payments directly through India’s domestic banking networks.
Richard Stevenson, CEO of Cleverbridge, stated, “Adding Net Banking helps our clients meet their customers where they want to buy, using the trusted payment methods that power high-value commerce across the region.”
Net Banking is a widely utilized payment option in India for both consumer and enterprise transactions, particularly for subscription-based and business-to-business (B2B) payments. It allows customers to make payments directly from their bank accounts, bypassing traditional cards or digital wallets.
Through this expansion, Cleverbridge’s clients are expected to benefit from several key areas. Domestic routing via local banks is designed to improve payment approval rates and overall reliability. The implementation of eNACH mandates supports long-term renewals and aims to reduce customer churn for subscription services. The system also offers high-value transaction flexibility, supporting payments up to ₹2.5 million per transaction and ₹10 million per mandate. Additionally, providing familiar, locally preferred payment options is intended to build customer confidence and enhance conversion rates, while compliance with Indian banking standards ensures scalability.
Cleverbridge’s payment solutions encompass over 30 global methods, including various credit cards (Visa, Mastercard, American Express), digital wallets (Apple Pay, Google Pay, PayPal), bank transfers (ACH, SEPA), and Buy Now, Pay Later options. The company partners with local payment providers in markets such as Brazil and India to offer familiar buying experiences that support higher conversions, stronger renewal performance, and increased customer satisfaction for software companies.
Looking ahead, Cleverbridge intends to further expand its presence in India by adding support for the Unified Payments Interface (UPI) in the coming months, aiming for broader coverage within the country’s evolving digital payments ecosystem.
Founded in 2005, Cleverbridge operates as a premium Merchant of Record, providing ecommerce capabilities that include payments, subscriptions, tax management, and compliance services. The company has processed over $10 billion in transactions across more than 240 markets and maintains offices in Chicago and Cologne.
