CCAvenue*, payment gateway by Avenue India Pvt Ltd. has launched a free package for e-commerce websites that would like to use CC Avenue as their payment gateway. This new package waives the initial payment of Rs.7,500 and the annual software up gradation fee of Rs. 1,200 for the first year. The transaction fees on all categories except credit card however remain the same in the free package. Speaking to Medianama, Mohan Nair, CMO Avenue India Pvt Ltd said that owing to the growing number of credit card users, the transaction fee rate for credit card has been reduced from 7% to 5.5%. Stating that this package has been on the pipeline for a while, Nair points to two reasons for the launch of their free package - Firstly, the low margin of e-commerce companies which makes it difficult for them to make the initial payment of Rs.7,500. Secondly, the free package was introduced to allow startups test their ideas without spending much on the payment gateway. On validating their ideas, CC Avenue is hoping to convert the merchants from free package to its premium, privilege packages or customized packages. Although competition is one of the factors of motivation behind this move, CC Avenue claims to remain unperturbed by any competition in this space. The company believes that pricing is not the only driver for merchant acquisition and points out that it supports more than 50+ payment options for end users. Live Monitoring Pro for Real-time Monitoring of Bank Servers: Over a week ago,…
