Payment gateway CCAvenue recently launched Social Networks In-stream Payments (SNIP), an in-stream payment collection service which allows merchants to sell products through social networks. In an interaction with MediaNama, Vishwas Patel, CEO at CCAvenue, speaks about the how the in-stream payments service works, pricing, analytics, competition, scaling, among other things. Medianama: What are the levels of customization available to merchants on SNIP? Patel: You need to understand the service for me to answer your question. Till now on a Snapdeal Facebook fan page, there have been posts on products. Typically, they are not able to collect money directly from the Facebook page. They only give a link to the product's page on their website. The customer then needs to add the product to cart and then make the payment. So social media is only being used for lead generation. No social commerce happens on social media. Our service will be an instant payment service. This in-stream payment service will take the customers straight to the payment page. The payment page is customised for merchants look and feel. It is mapped to their campaign created in their CCAvenue MARS page. Merchants who want to use this service need to be registered with us. To create a campaign, they need to add the product name, price, photo and quantity. When you create this campaign, a link is created. You can use this on Facebook page and other social networks. When the specified quantity is over, a notification is sent stating that the campaign is over. When a…
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