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  • Payment Gateway selection from available service providers in India and abroad

    Posted on May 10th, 2009 Dimakh No comments

    In Continutation with the earlier Blog post - Payment gateway for ecommerce based website to accept credit cards online and bank transfer by ECS – short URL for wordpress -  http://www.techbizpeople.com/blog/155 - We try to put together all the available options for selecting the right payment gateway for your website. The options that are available are

    1. Paysignet –  http://paysignet.com/keyfeatures.asp

    The Paysignet payment gateway provides easy to integrate payment gateway processing. But they do not have a physical address for anyone to get in touch. Call Toll Free during Business Hours (10:00 to 18:00 hrs) : 1800-425-4111 . This is the only contact info available on their website.

    Paysignet 

    Product Features : credit cards, debit cards, net banking, mobile payments, cash cards

    Startup Cost : 6000-50000

    Transaction cost :  2.75% – 5%

    Security deposit : Nil

    Due Diligence : Nil

    Recurring cost : 1500 – 5000

    Integration : Easy – 1 Hour

    Security : Yes

    Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

    Website : http://paysignet.com/keyfeatures.asp 


    2. CCavenue - http://www.ccavenue.com/ 

    The CCavenue is considered one of the best and most popular payment gateway for India. Many of the Indian  ecommerce based websites prefer this payment gateway of transaction in India Rupees as well as accepting credit cards with foreign currencies. All Major International and Indian Credit Cards are Processed by CCAvenue.

    CCAvenue

    Product Features : credit cards, debit cards, net banking, mobile payments, cash cards

    Startup Cost : 7500 – 40000

    Transaction cost :  3.75% – 7%

    Security deposit : Nil

    Due Diligence : Nil

    Recurring cost : 1200 – 3600

    Integration : Easy – 1 Hour

    Security : Yes

    Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

    Website : http://www.ccavenue.com

     

     

     

     

     

    3. ABCpayments - http://www.abcpayments.com/pricing.html 

    We process Visa International Cards, Diners club cards & Citi bank cards

    ABCpayments accepts bank transfers, credit card payments and prepaid cash cards payments. The internet banking trend has increased drastically in the recent years and use of credit cards online has been outspaced by online banking. ABCpayments claimis to offer the benefit to transact through all major banks in India by bringing them on one common platform that offers one point contact for all banking transactions.

     

    ABCpayments

    Product Features : credit cards, debit cards, net banking

    Startup Cost : 10000 – 28000

    Transaction cost :  5% – 7%

    Security deposit : Nil

    Due Diligence : Nil

    Recurring cost : Nil

    Integration : Easy – 1 Hour

    Security : Yes

    Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

    Website : http://www.abcpayments.com/pricing.html 

     

    3. EBS -  http://www.ebs.in/pricing_advantages.php

     

     

    EBS

    Product Features : credit cards, debit cards, net banking

    Startup Cost : 6000 – 30000

    Transaction cost :  3.25% – 6%

    Security deposit : Nil

    Due Diligence : Nil

    Recurring cost : 2400

    Integration :  7 working days

    Security : Yes

    Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

    Website : http://www.ebs.in/pricing_advantages.php

     

    EBS has provided detailed information about how the entire online ecommerce transaction takes place and how EBS handles the transactions.

     

    4. Transecute –  https://www.transecute.com

    Kindly note that Transecute is currently not giving out any new accounts.  

     

    5. HDFC - http://www.hdfcbank.com/wholesale/corporates/payment_gateway_services.htm 

    HDFC Credit card service provider. This is provided by HDFC Bank one of the most reliable banking service providers in India. HDFC payment gateway follows very stringent rules and does a lot of due diligence of the company who wants to have a payment gateway service. We at Dimakh Consultants have used their service for a few of our clients are we are very happy with the service provided by HDFC payment gateway.

     

    HDFC Bank 

    Product Features : Credit Cards

    Startup Cost : 10000 – 50000

    Transaction cost :  3.5% – 6%

    Security deposit : 50000 – depends on Due Diligence

    Due Diligence : YES

    Recurring cost : 12000

    Integration :  3 weeks

    Security : Yes

    Additional Features : Email and Telephonic support available

    Website : NA

     

    6. WorldPay - http://www.worldpay.com/business/content.php?page=pricing2&c=UK 

    WorldPay is more used for those transactions which are for foreign transactions. They payment can be linked for Indian Payment currency. It has a very strong and secure system. The charges are very high as compared to other service providers.

     

    WorldPay

    Product Features : Credit Cards

    Startup Cost : GBP 200

    Transaction cost :  4.5% – 6% + GBP 0.50 per transaction

    Security deposit : NIL

    Due Diligence : NIL

    Recurring cost : GBP 30 per month

    Integration :   1 hour easy

    Security : Yes

    Additional Features : live support

    Website : http://www.worldpay.com/business/content.php?page=pricing2&c=UK

     

    7. Paypal - http://www.paypal.com/

    Paypal is by far one of the most popular and widely used service provide for online payment worldwide. Paypal has a strong network and presence and also offers multi currency support. For India it has a special facility by which you can accept payment in foreign curreny and transfer the money to your Indian bank account at the prevailing $ rates. The payments reaches you in 5-7 working days.

     

    PayPal

    Product Features : Credit Cards

    Startup Cost : Nil

    Transaction cost :  1.9% – 6% +  $ 0.30 per transaction

    Security deposit : NIL

    Due Diligence : Applicable for Non Profit Organizations

    Recurring cost : NIL

    Integration :   1 hour easy

    Security : Yes

    Additional Features : Currency conversion fee - 2.5% added to the exchange rate

    Website : http://www.paypal.com/

     

    8. ICICI Bank Payment gateway – payseal

    The Popular ICICI Bank allows companies to accept secure payments using credit cards via the Internet. They operate under the brand of Payseal. The integration is very complicated and needs knowledge of java for integration. The charges vary based on transactions volume. This is one of the oldest service providers in India.

     

     

    ICICI Payseal

    Product Features : Credit Cards

    Startup Cost : 40000

    Transaction cost :  3% – 6% 

    Security deposit : 25000

    Due Diligence : Yes

    Recurring cost : 20000

    Integration :   3 weeks

    Security : Yes

    Additional Features : Needs java support for your website.

    Website : www.payseal.com

     

     

    A few other payment gateway service providers are 

    Authorize.net –  http://www.authorize.net/

    Google checkout –  http://checkout.google.com/

    HSBC Payment gateway – No Information available – contact your local bank branch

    eazy2pay - https://www.eazy2pay.com/

    Billdesk - http://www.billdesk.com/

    This will give you all the details of selecting the correct payment gateway for your website. You can accept Visa cards, Master cards and also do bank transfers. Please send your feedback by commenting on this page or for more information do send an email to sales@dimakhconsultants.com

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  • Payment gateway for ecommerce based website to accept credit cards online and bank transfer by ECS

    Posted on April 29th, 2009 Dimakh No comments

    A secure and safe payment gateway used for credit card processing is necessary for any e-commerce based website which allows payment transaction to buy and sell goods, products or services online. “Electronic commerce” means, The transaction of buying and selling of good and services through digital medium.

    E-commerce websites should offer their customers, a payment option that is safe, convenient and widely accepted. The choice of establishing the right online payment system depends upon the company, its products or services and its customers. Many payment gateway service providers sell different packages of payment processing services to web site owners that allow them to accept different types of payments.

    The payment modes that are offered by different e-commerce based websites are payments using credit cards , credit card fax back service, Telegraphic transfers, Netbanking using ECS , cheque/DD for India, Direct bank transfer, paymate within India, paypal across the world, cash cards etc. But by far its best to go in with a reliable payment gateway service provider called as credit card merchant service providers who offer different options in a single window and allow safe and secure transactions. The offer processing for visa credit cards, master credit cards, American Express and all other credit card banking services.

    Before you select a payment gateway first try to get details for all the costs associated with the payment gateway service provider. Each payment gateway offers variable costs and transactional charges.

    The different costs associated with Internet merchant account are :

    Up Front Application Fees
    Many Internet Merchant Accounts will require an up front application fee. This fee, supposedly, is to cover their costs for processing your application. But with gorwing competition, most of the companies now waive off this front application fee.

    On Going Fixed Fee
    This is a fixed monthly fee that you have to pay to the service providers irrespective of any transactions that you do over your website. Many a times a flat fee of $25 is charged on your account.

    Fixed Transaction fee
    Usually between $0.20 and $0.45, the fixed transaction fee is the fixed fee portion of each sale. The fixed transaction fee is the same for every transaction. Whether you get a $1 sale or a $100 sale, the transaction fee will be the same.

    Variable Transaction Fee
    The variable transaction fee is the amount that you pay to the merchant for every transaction that happens on your website. This transaction fee may vary between 2% to 5%. The percentage is dependent on the monthly volume that you do through your website.

    Termination Fees
    A termination fee is applicable if you discontinue the contract before the stipulated time. The minimum contract period may vary from one year to three years.

    Miscellaneous Fees
    A charge back fee may be applicable if a customer requests for a refund and if he wants his credit card to be credited. The merchant will charge a separate fee for this.

    If you are developing an ecommerce based website and want to activate a online payment option for your website then you must be having questions like :-
    Which is the best payment gateway for me? or
    how to integrate credit card processing on my website or
    what are the online payment options , can I do a bank transfer or Cash On Delivery – COD.
    What are the online payment gateway options for India and can we have multiple currency options on my website. Can I use a debit card to make online payment or can I accept debit cards online.

    Please read the next blog posting to know more about using payment gateway to accept payments online in India and world wide. I will also cover comparison of different payment gateway vendors. You can also  send an email to sales@dimakhconsultants.com for more details.

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