Gyaan Sutra On entrepreneurship and technology

E-commerce is growing in India, and it is growing fast. According to Nasscom, by 2008, India has the potential to earn $10 billion (by both Indian and Global markets).

So if you are looking to provide some options for e-commerce on your website, you are going to need a payment gateway. There are already a few options available, like Paypal, CCAvenue, EBS, Payment Gateway, Citibank etc. However each of them comes with it’s own set of problems and advantages.

Paypal is the easiest to set up, though it takes the longest time for payments to reach you (sometimes over a month). Citibank, is very visible, but for a startup it would be a really expensive option. There is the same problem with EBS (which is from UTI bank). The best option that I currently see is CCAvenue, payments are on time, and the clientèle’s increasing after they started payments in USD last to last year. In India, you might end up paying them anywhere between 4-7% plus education and cess tax ( which is 12 something %). I recently heard that even batchmates.com is using it. Batchmates has recently entered the Limca book of records for the biggest database of alumni in India, covering over 2 lakh schools and colleges.

If you are using a payment gateway in India, and have something to tell us, maybe information about a website, or more options, do comment.