Following Flipkart's launch of PayZippy, Snapdeal has also come out with its own payment gateway called Klickpay. The payment gateway is currently live only on Snapdeal.com, but will be soon be introduced for third party developers as well.
The development comes a few months after Flipkart opened PayZippy to end users. Snapdeal's payment gateway enables shoppers to save their card details on it, post which they can opt for Klickpay as a payment method in the checkout window. First time users will have to make a Klickpay account or they can also register via Facebook. This development was first reported by Medianama.
In comparison, Flipkart's PayZippy also offers similar features and is already live on a number of other sites like MakeMyTrip, BlueStone, Yepme, and Zansaar, among others. PayZippy was first launched for B2B transactions in July 2012.
Similar to other payment gateways that save card details, Klickpay also does not save the CVV number that is required to complete a transaction. Apart from that, a user only gets 3 tries for entering the correct CVV number, post which the card is deleted (if the number entered is incorrect) and has to be added again. In addition, the company claims that the card information is neither shared with the network or with the merchant on whose site the purchase is being done.
As far as competition is concerned, there are a number of payment gateways that are already available in the sector including CCAvenues, Ibibo Group's PayU, One97's Paytm Payments, ZaakPay and PayPal, among others.