Snapdeal releases their payment gateway

Indian based Ecommerce platform Snapdeal has released their new payment gateway called KlickPay. We recently reported on Snapdeal’s intentions to

Indian based Ecommerce platform Snapdeal has released their new payment gateway called KlickPay.

We recently reported on Snapdeal’s intentions to release a payment option for its merchants, and shortly after competitor FlipKart released the consumer version of their payment gateway called PayZippi, Snapdeal announced KlickPay. The gateway is currently only available to Snapdeal merchants. However, with the fast growth of Ecommerce in India Snapdeal will be following FlipKart’s lead and begin to offer KlickPay to outside merchants.

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KlickPay is intended to help with bringing down the demand for Cash on Delivery (COD) orders, which are immensely popular in India, by offering a secure payment service and not disclosing any payment details to the merchants. Users will be able to store credit card and shipping information, similar to PayPal, after creating an account or signing in through Facebook. The sign in through Facebook feature will help Snapdeal with identity verification of its users in addition to providing a quick signup process.

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Snapdeal will soon be offering a developer kit to integrate the payment gateway on external sites. The KlickPay developer kit will offer popup windows and iFrame options for merchants.

eBay.in, one of Snaspdeal’s main investors was expected to integrate their own payment service, PayPal, into Snapdeal’s marketplace. Due to RBI restrictions, PayPal’s services are limited in India. Because of the restrictions eBay.in has developed their own payment option for the Indian market called PasiaPay, although that cannot be used as well due to FDI regulations. The FDI regulations are expected to be revamped soon to allow for more leeway for non-Indian Ecommerce companies to provide more services for the Indian market.

 

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