CCAvenue*, payment gateway operated by Avenues India Pvt Ltd, has launched an in-stream payment collection service for social networking websites called Social Networks In-stream Payments (SNIP). This service enables consumers to buy products through social networking sites. CCAvenue said that it will offer this service as a part of its package for all merchants who sign up with the company. However, merchants will not be charged separately for integrating this service. Its worth noting however that P2P (peer-to-peer) payments will not be possible on this service. How does it work? To use this service, merchants can create a campaign on their MARS (Merchant Accounting & Reporting System) account with requisite details like the product name, price, the number of each product up for sale, and a product photograph.Following this, a SNIP short link will be generated on the domain buy.cc, which can be posted onto various social networks by merchants. When a consumer clicks on this buy.cc link, it would take them directly to the payment gateway with the product details and consumers can purchase these items by entering their card details to complete the payment. The campaign comes to an end when all the stock is sold out. We feel this service will allow merchants to push for more sales, since the 'Add to cart' step has been essentially eliminated for users. However, large merchants might face some difficulties in creating campaigns for each individual product. QR Codes On Mobile What's particularly interesting about this service is that merchants can also generate QR codes…
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