PAYZIPPY : Payment gateway from flipkart

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Indian e-commerce giant Flipkart has launched a new payment solution. This payment gateway solution targets buyer and merchant both.

Payzippy claims to give higher conversions. It has also provided a redefined user experience where a user can provide their card details without leaving merchant’s website. They are also providing merchant support from 8 AM to 8 PM.

PayZippy has undergone stringent security audits (including PCI DSS) by industry experts. PayZippy’s real time risk engine analyses every transaction across 50+ risk parameters and notifies you about suspected fraudulent transactions by email/sms.

If you are a mobile store; don’t worry, PayZippy has mobile payment gateway solutions as well.

The best thing about PayZippy is its transparent rates with 0 signup fee and 0 yearly maintenance fee.

Rates for payment gateway :

Debit cards (<=2000 INR Transaction) 0.75%
Debit cards (>2000 INR Transaction) 1%
Credit cards (Rs. 0-5 Lakh) 3.50%
Credit cards (Rs. 5-10Lakh) 3.25%
Credit cards (Rs. 10-25 Lakh) 3.00%
Credit cards (Rs. 25-100 Lakh) 2.50%
Credit cards (Rs. 1cr+) Custom Package
International Transactions 1.5% above the domestic rates

Features of PayZippy payment gateway :

◾Super easy integration
◾Accept payments on mobile
◾Accept International cards
◾Real-time notifications on SMS/Email
◾Daily automated settlements
◾Customizable User experience
◾8 AM to 8 PM Merchant support on all days
◾Real time Fraud detection and alerts
◾Intuitive Dashboard
◾Automate with APIs

Techaloo View : This payment gateway is governed by Flipkart the leading e-commerce market of India. Being a flipkart product it promises to deliver the required features/ products to the merchants.
But the same thing make us worried, Won’t it make entry barrier much higher for e-commerce market? Will it create monopoly of flipkart over the industry? What if business rivalry forces flipkart to stop services for any of the big merchant?

Apart from that Amazon has its payment gateway for a long time and its also providing one click payment for a long time. Amazon also has the facility to pay with Amazon. Flipkart is developing them as the indian Amazon.

These are the questions which will be answered by time. Meanwhile we can see what flipkart thinks about payments.

1) 60% of the flipkart users use COD facility, even the active users of debit/ credit cards use COD as their preferred payment options. Their could be many reasons to this, one can be that COD offers less efforts and less steps while placing the orders

2) Flipkart acceps that 25% of the transactions fails but it also says that when transaction fails, customers come back and make the transition

3) EMI and Mobile Payments are capturing the market, this can explain the reason that why flipkart included EMI and Mobile Payments with PayZippy

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

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