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Payment Gateway PayPal Starts a Service to Safeguard Cross-Border Digital Transactions

30Jun By PriyankaNo Comments

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Payment Gateway PayPal Starts a Service to Safeguard Cross-Border Digital Transactions

International payment gateway PayPal today began a service to safeguard cross-border digital transactions which will, in turn, insulate sellers and buyers from frauds. Under the companys seller protection programme for intangibles, two types of buyer complaints will be covered ? Unauthorised Transaction, when a buyer claims that he or she didnt authorise the payment and Item Not Received, when a buyer pays for the service but claims that he or she did not receive the service. "A key objective for PayPal in India is to ensure that genuine sellers, small or big, are protected from unauthorised claims and chargebacks. Growing instances of online fraud act as a barrier for sellers selling online services and other intangible goods to clients abroad," PayPal India Country Manager and ...

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

Due to string of fraud cases in recent years, China Central Bank introduced rules on online payment

BEIJING, (Xinhua) -- China's central bank released detailed regulations of online payment services by non-bank institutions on Monday in the latest effort to contain possible risks in the booming Internet finance industry. The new rules require real-name registration for all non-bank payment accounts and classifies them into three categories depending on the security levels. The size of payments allowed through such accounts will then range from 1,000 yuan (155 U.S. dollars) to 200,000 yuan per year. Transactions through banking payment platforms would not be restricted by the regulation, the central bank said.. The aim of the policy is partly to avoid large sums of money being deposited in third-party payment accounts, which are beyond the protection of bank deposit insurance and...