I’m not sure if I’m posting this piece in a correct section or not. Let me know if it happens to land into wrong section.
Recently I looking for some good and cheap payment gateway vendors, for my small e-commerce application. The target client base is all Indian and currency would be all INR. I ran into issues like – If I get services of vendors based out of US, then I save on cost involved, but then I have to deal with only credit cards. And If I want to support internet banking and debit card usage then I have to use the vendor services available in India, which is quite costly.
From here I started thinking of building my own payment gateway and I was stuck up soon with so many hurdles in my way. I don’t know how to develop a payment gateway, the technologies involved, the kind of logistics required, how to get the banks on board for online banking and all. I’m hoping to get some directions from all the experienced people here on VentureWoods.
Thanks,
Suhas
- Online vouchers – SaaS approach - February 3, 2009
- Designing/Developing a payment gateway - December 21, 2007
- Google joins band of angels - July 25, 2007
7% commission?????
Why does this payment gateway have any clients at all? It sounds insane.
Why doesn’t someone design a cheap world class payment gateway for Indian needs? I am perplexed.
Suhas,
I can relate to you. Being in US, I am probably spoiled by better service, professional websites, etc. We ended up deciding on Transcute solely because they at least have a sand box for testing out the application (although the sandbox does not really work exactly like production). We looked at abcpayments, ICICI, ccavenue and wallet365. Transcute came out as winner amongst them, but as we say in Hindi “andhon main kana raja”. There definitely is a need (and scope, I may add) for a better provider.
Hey Suhas
Have you checked out the service by abcpayments.com ? They have a one time setup fees of 10k or so and then 7% commission on all transactions. Maybe they can help you setup a payment gateway quickly.
Or else, nothing beats paypal if u ask me !
Suhas,
i think best source for you is
Digistore Ecommerce 3.2
http://digistore.co.nz/
Digistore Ecommerce is an open source e-commerce software with payment facality.
And its best as its an open source.
Suhas,
CCavenues can be quite trusted. I believe they are the merchants for most ecommerce sites here in india.
As for the conversion loss, the buying rate of a dollar might be higher than the selling rate, and thats the loss you’d incur. But if you arent talking about big numbers, it wouldnt add for much.