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.
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