Flipkart, India’s largest e-commerce company has launched its own payment gateway service called PayZippy.
The current version of PayZippy will only power card payments for websites and mobile sites of Indian merchants. The company however said it would soon launch a larger customer-centric payment gateway solution.
“This launch is a pre-cursor for a larger customer-centric product that will be geared towards making online payments a smooth, trustworthy and convenient experience for consumers across online merchants,” the Bangalore-based company said in a statement.
The buzz around Flipkart developing its own payment gateway has been there for a while, especially after the company last year registered two new companies — Flipkart Payment Gateway Services Pvt Ltd and Flipkart Marketplace Pvt Ltd.
The company today said Flipkart Payment Gateway Services will be the custodian of the new product.
According to Flipkart, PayZippy will provide Indian merchants with higher optimization at various levels apart from ensuring security. The payment solution is also PCI DSS (data security standards) certified and is backed by an indigenously-developed advanced fraud detection system.
“Throughout our journey we were always looking to build solutions that could empower the whole ecosystem and not just Flipkart. Flipkart’s Marketplace & Payzippy are the first two examples of this. This is an exciting beginning,” said Sachin Bansal, co-founder and CEO, Flipkart.com.
PayZippy aims to partner with 2,000 merchants by March 2014.
Source- Business Standard