In this post, we are going to discuss the payment methods that you can use though your business is still unregistered.
An online payment method is very important for any business. Opening an account on any online payment gateways for personal use is easy but opening an account for your business is not much easy. You need to go through a verification process before using the payment gateway.
But there are some popular payment gateways that can provide your business account for your unregistered business. Let's take a look at them.

Best gateways to receive payments for unregistered businesses.

Now we are going to see some payment gateways that can be a good solution for receiving payments for unregistered businesses.

IntaSend

If your business is still unregistered then IntaSend can be the perfect payment method for your business. Compared with other payment gateways, the IntaSend transaction fee is only 3.5% with a payout time of 2 days, whereas another payment method PayPal charges more than 4.4% with a minimum payout time of almost 10 days. Besides, IntaSend provides you with faster transactions than any other payment method.
To sign up for IntaSend, all you need to have is a national ID only which makes it easy for freelancers and unregistered businesses. Learn more about IntaSend here.

RazorPay

RazorPay is another payment gateway that supports unregistered businesses. Through the Razor payment link, you can easily get paid instantly. Through this link, you can get payment from your customers by using social media platforms like WhatsApp, Instagram, Facebook, SMS, and more. Razorpay allows you to send automatic reminders to your client that will notify them about the payment. If your business contains a Facebook page then you can add Razorpay to your Facebook page and accept payments from the customer instantly. Another exciting feature of Razorpay is that you do need not to integrate the payment method. With the help of Razorpay, your business can go online with zero integration and tech efforts. Learn more about RazorPay here.

Lyra

Lyra is another payment method that supports unregistered businesses. If you are a freelancer, a home-owned business, a social media business owner, or a professional, accepting payments is going to be easier than other payment methods. Lyra accepts payments for both registered and unregistered businesses. Lyra provides you with a simple and hassle-free solution for digital payment acceptance for businesses of a variety of sizes and natures. Learn more about Lyra in this link.

Paypal

Another popular payment method for unregistered businesses is PayPal. You can receive payment by using your personal PayPal account. But if you want to open a business account on PayPal, you need to verify your business first. This makes PayPal not highly recommended for businesses that aren't registered yet. But you can still receive payments from your PayPal account by following some rules and limitations. Learn more about PayPal here.

PayTM

You can use PayTm for any kind of business. It doesn't matter whether the business is registered or not. PayTm allows you to sign up for the Starter Plan with your personal PAN. You can upgrade your account later when your business becomes registered. But you will have some limitations if you are running with the starter plan. Learn more about payment here.

Stripe

Stripe is also available for integrating payment on unregistered businesses. Through Stripe, you can sell your product though your business is still unregistered or you run it personally. There are two kinds of signing up available in Stripe. The first one is a Sole proprietorship and the second one is called a Partnership. Here Sole proprietorship means you do not have a separate entity and operate by yourself and the Partnership means you run the business with others. Stripe provides you with 24x7 customer support. Learn more about Stripe from this link.

Conclusion

To get better support, I especially suggest gathering all the necessary documents to get a business account on any online payment portal. Though some popular payment gateways allow you to integrate payment methods for your unregistered business, there are some limitations. Besides, to enlarge your business it is very important to have a verified payment method.

References

https://ecommthatworks.com/payment-gateway-for-unregistered-business/
https://intasend.com/unregistered-freelance-businesses/
https://razorpay.com/freelancer-unregistered-business/#:~:text=Razorpay%20empowers%20freelancers%20and%20other,solution%20that%20people%20instantly%20love.
https://www.lyra.com/in/freelancer-unregistered-business/
https://business.paytm.com/support/i-havent-registered-my-company-yet-can-i-get-a-payment-gateway