Flipkart might be struggling leading to the shut down of its electronic division altogether, but the company which realigned the ecommerce space in India, has recently launched an all new payment gateway.
The gateway which has been christened PayZippy has been launched only for Indian merchants. The gateway will allow merchants to directly accept payments made through cards. While the system itself has been operational for a while now, there is buzz around about a new mode for users to make payments, which is rumoured to be launched soon.
Once functional, this system will allow users to store card information securely on the PayZippy platform and then use the same gateway for making payments on any websites that might’ve integrated the payment gateway.
According to Sachin Bansal, founder and CEO, Flipkart, “Flipkart has enabled e-commerce in India over the last six years. Throughout our journey we were always looking to build solutions that could empower the whole ecosystem and not just Flipkart. Flipkart’s Marketplace & Payzippy are the first two examples of this. This is an exciting beginning”.
According to tech analysts and company trackers, the news comes as no surprise as everyone anyways expected Flipkart to enter the payment gateway business sooner rather than later.
It is important if not imperative that ecommerce players are able to control payment systems across the ecosystems if they are to succeed, opine these analysts. PayZippy, then comes across as a logical step. Also there’s something to be said about the pricing which is very attractive and will invariably attract merchants to make use of it.
The next plan of action which will be interesting to watch, according to these players will be how the company develops their game against the international e-commerce behemoth, Amazon which entered the Indian market last month.
