Saturday, April 13

Tag: transaction

Pepperfry Introduces Cash-On-Delivery Services Up To Rs 50,000
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Pepperfry Introduces Cash-On-Delivery Services Up To Rs 50,000

Online home and lifestyle store Pepperfry has reportedly launched a fresh feature on its platform that is from now on, the consumers in Mumbai and Delhi NCR will be able to avail the cash on delivery (COD) services ahead of the upcoming festive season. Furniture delivery is a big space and thus, it is generally not based on COD, but now the company will offer COD payments of up to Rs 50,000 on high-ticket purchases at no additional cost as an introductory offer. With this move, the Mumbai-based company is looking to make high-value furniture transactions accessible to consumers in line with a target to reach up to 20 million homes by 2020. “The introduction of the COD option with an upper limit of up to Rs 50,000 offers more flexibility to our customers when purchasing furniture onl...
Razorpay First Payment Gateway to Announce Zero Transaction Fees on Debit Cards
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Razorpay First Payment Gateway to Announce Zero Transaction Fees on Debit Cards

Razorpay, an online payments platform, announced today that it is waiving off all service charges on Debit Card transactions for all of its 10,000+ merchants, from 12 PM on Nov 24 till December 31, 2016. This move is aimed at helping businesses affected by demonetization and encourage users to transact online. While some banks are still deciding upon the waiver proposed by RBI, Razorpay has taken initiative and is the first payment gateway to remove all charges for debit cards. Debit cards are the most popular mode of online payments. In July 2016, a total of 25.94 million credit cards and 697.22 million debit cards were in operation, according to the Reserve Bank of India. In July 2016, total number of transactions through credit cards were 79.44 million while the figure for debit card...
Razorpay, an Online Payments Platform Introduces Flash Checkout
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Razorpay, an Online Payments Platform Introduces Flash Checkout

Razorpay, an online payments platform, today, announced the launch of "Flash Checkout", which will cut down transaction times by 60% when the card is saved with Razorpay, further simplifying online payments. In our constant endeavor to simplify transactions, this feature will help customers close a transaction quicker and bring these benefits to the entire gamut of Razorpay's merchants, said Shashank Kumar, Co-Founder, Razorpay. The product runs on a patent-pending technology through which a customer needs to authenticate themselves only once on a mobile device. Following which, all saved cards will be available across merchants of Razorpay helping users have simpler and faster transactions on mobile and desktop transactions. The device authentication feature is a first in the payments i...
Alibaba Expects $900 Billion Transaction Volumes By 2020
CHINA

Alibaba Expects $900 Billion Transaction Volumes By 2020

Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday it expects to nearly double its transaction volumes by 2020, signalling it still expects rampant growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. At an investor conference at its headquarters in Hangzhou, Zhejiang province, Alibaba said it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016. Echoing that growth, Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016. Addressing concerns about the company's efforts to remove counterfeit products from its online platforms, Ma said Alibaba will do "anything to stop the fake produ...
Payments Banks Do Not Have a Viable Business Model: SBI Chief
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Payments Banks Do Not Have a Viable Business Model: SBI Chief

Small and payments banks have not yet devised a business model which can be termed viable, SBI Chairperson Arundhati Bhattacharya said today. "Neither the payments banks nor small finance banks seem to have as yet devised a business model that can be said as viable," said Bhattacharya, whose bank has tied up with Reliance Industries for a payments bank venture. Addressing a banking seminar organised by industry lobby IMC here, she added, "...a mobile banking customer, who is also a customer for payment services, will be less free to migrate to a competition for mobile services. Hence, it is hard to see payment banks taking away customers or income from commercial banks in a big way. Similar arguments hold for small finance banks. "Admitting that the entry of other non-banking co...
Paytm Scraps Transaction Fee For Offline Merchants, Last year Transaction was  $120 million
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Paytm Scraps Transaction Fee For Offline Merchants, Last year Transaction was $120 million

Paytm, India's leading Mobile wallet and e-commerce firm scrapped 'per transaction fee' for consumer-to-merchant offline wallet transactions, a move to boost digital money transfer on the platform. The fee ranged from 0.5% to 1.75%, depending on the merchant service provider. "Often these charges discourage a merchant to accept a digital transaction and they end up asking the consumer to bear the cost, which is illegal," said Nitin Misra, payment products head at Paytm. "By eliminating this cost, we are looking at an opportunity to digitise that 95% of India which still deals in cash," he added. "We have crossed credit card transactions and today 95 out of 100 wallets are Paytm," said Misra. "In our business, I think we have reached a sweet spot. We have a payment business, we have a m...