Flipkart Payment Gateway Services (FPGS), a subsidiary of Indian Ecommerce marketplace provider FlipKart, will begin to offer its payment gateway services to external customers.
FlipKart’s gateway was released in July 2013, and until now was only available on their marketplace. The new gateway called PayZippy will be offered to other Ecommerce and merchant platforms.
PayZippy works in similarity to PayPal. Customers will create a username and password, and PayZippy will store credit card and user data to guarantee fast checkouts. The premise behind creating fast checkouts is to help with reducing the large amount of Cash-on-Delivery (COD) orders that makes for 65% of all online orders in India. Amazon.in is trying a different approach by actually embracing the concept of COD with the help of the Indian Postal Service. Cleartrip is also looking for new ways to offer COD to its customers.
Partnership & Opportunity: BDSwiss and Autochartist launch Trends AnalysisGo to article >>
“With PayZippy we have actually reduced the time taken for making online payments by 50%,” Mekin Maheswari, head of payments and digital media at Flipkart added on their new product.
PayZippy is already available on merchant sites like, MakeMyTrip, Travelyaari, Bluestone, Justeat and Lenskart, as well as serving as the payment gateway for FlipKart.
Interesting enough, FlipKart has announced the customer version of their gateway just days after competitor SnapDeal, announced their intentions to offer a payment gateway as well.