FOR
Payment Options
Small Businesses
- Vishwas Patel
CEO Avenues
Small Businesses
Where are they?
• Only 4500 Indian Merchants online
(single biggest reason as to why
eCommerce is not happening in our
country)
• Out of that 65% are pure Internet
players.
• When there are not too many sellers,
how can there be many buyers !
Small Businesses
Why are they not online?
• Brick ‘N’ Mortar Merchants not aware
of the advantages of reaching out
directly to their customers using the
Internet
• ‘Value’ not created by the merchants
• Negative press reports
• Lack of technical resources
Need of the Hour
Software on Demand
Payment Options
Credit cards
• All internationally recognized credit
cards are accepted in India
• Credit Card base increasing but still
penetration is low because:
• Unfriendly Government Policies
• Negative Press Reports
• India is a Credit Averse Society
Payment Options
• Direct Debit to Net Banking Interfaces
– The next big wave
– 15 Indian Banks have implemented the Core
Banking Solution
– 20 other Indian Banks are in the pipeline
– Zero Fraud
• Debit Cards (MasterCard, Maestro, Visa,
Electron / Plus)
-- Unfortunately not accepted on the Internet
Payment Options
The Way Forward
• An India Card
(urgently required now)
– A Card Indians can relate to … a card
that is truly pan-Indian in nature
– One that works under Indian Laws,
understands the Indian merchants
requirements
Payment Options
The Way Forward
• Mobile Payments – Content limitation
and customer adoption issues
• Cash Cards – Happening but will it
last?
• P2P Payments - Nipped in the bud by
RBI!
Thank you