wordpress blog stats
Connect with us

Hi, what are you looking for?

Payment Gateway Provider Ogone Looking To Enter India: Report

Ogone, a European online payment service provider is looking to enter India, and has been in talks for acquisitions with companies like EBS, reports The Times of India, citing unnamed sources. The e-payment space in India has independent companies such as EBS, CC Avenue and BillDesk but the lion’s share of the space is held by large private banks like HDFC, Citibank and ICICI. The report suggests that Ogone is already in takeover negotiations with EBS, one of the key payment gateway solutions provider in India.

We have seen a number of  deployments in the online and mobile payments space. But managing online transactions and payments remains a challenge for the merchants. A number of problems in executing orders are related to payment gateways going rogue: there isn’t a quality plug-and-play alternative yet, and it’s difficult for startups to set-up payment gateways in a swift and economically viable manner, and e-commerce businesses in India often complain about the lack of reliability of payment gateways.

MediaNama readers would recall that eBay owned PayPal was involved in a prolonged battle with RBI following which it had to discontinue its online wallet service and has put an upper limit of $500 on receiving payments. Also, adequate measures need to be taken to ensure the security of the payment gateway. CCAvenue’s payment gateway was reportedly hacked, compromising password information, although the company’s CEO, Vishwas Patel had denied it.

Related:

– PayPal Restricts Payments To India, Bars Purchases; Why They’re Right
– Updated: CCAvenue Payment Gateway Hacked: Report
Updated: CCAvenue CEO Vishwas Patel Denies Authenticity Of Hacking Report; Claims Mischief
– Zaakpay Launches Online Payments Service
Concerns About Payment Gateways & Logistics Voiced At E-Commerce Forum

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

News

A survey by the National Payments Corporation of India (NPCI) found that at least 80% of households now use digital payment apps like Paytm,...

News

In an affidavit filed before the Supreme Court, the Reserve Bank of India (RBI) has said that companies like WhatsApp, Google and Amazon have...

News

While digital payment adoption began to grow significantly post demonetisation, the COVID-19 pandemic accelerated this shift over the last year, according to PwC India’s...

News

We missed this earlier.  A technical policy paper authored by researchers at global card network Visa Inc. has proposed a common protocol that can...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to Daily Newsletter

    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ