Flipkart unveils online payment solution PayZippy, starts with B2B offering
The country's largest consumer ecommerce player Flipkart has taken the wraps off its own payment gateway PayZippy. The gateway is housed under a separate firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd and the group has started with the B2B offering of the online payments solution.
The solution is currently available only for Indian merchants but the product would also have a B2C version which is yet to be launched.
The B2B version of PayZippy enables card payments for domestic merchant Websites and mobile sites. This solution is PCI DSS certified and has been tested on Flipkart.com for some time before being officially launched for merchants. The company aims to sign up more than 2,000 merchants for PayZippy by March 2014.
According to the Website, the consumer-facing solution will enable users to save their card details (a feature still not yet popular in India) in their PayZippy account. Flipkart already offers such a service for its existing e-com site and it may be looking to replicate it by integrating it with other online payment points where its PayZippy users can pay online without filling the card details.
"Throughout our journey we have been looking to build solutions that could empower the whole ecosystem and not just Flipkart. Flipkart's marketplace and PayZippy are the first two examples of this. This is an exciting beginning," said Sachin Bansal, co-founder and CEO, Flipkart.com.
Flipkart as a group had registered Flipkart Payment Gateway Services Pvt Ltd last year along with another entity Flipkart Marketplace. It unveiled its marketplace, which enables third-party sellers to list their products on its website and sell directly to consumers, earlier this year.
On the ecommerce front, it has been scaling down some electronics categories and recently shut its digital music store Flyte. It, however, added a new category called 'software' recently wherein it offers anti-virus software besides operating systems and other general software.
With this new payment solution and the consumer-facing solution slated to be out soon, Flipkart is expanding its foray into value-added services.
(Edited by Joby Puthuparampil Johnson)