Ecommerce industry has really been going great @ every passing day in India. Consequently service supporting entire eCommerce phenomenon is also being evangelized by foreign as well as domestic players. On payment gateways front, after Ogone acquisition of EBS, Nasper, the South African multinational media company that co-owns ibibo with Chinese tech company Tencent (China’s most used Internet service portal) has launched its payment gateway ‘PayU’ in the growing Indian eCommerce industry. PayU would facilitate Indian eCommerce portals to close transaction through online payments.
However, in India PayU would only serve as a payment gateways for e-merchants unlike South African PayU’s initiative that also work as an online wallet open to use for common people for online transaction.
According to PayU official website, it accepts American Express, Master Card and debit cards of various banks (around 60) along with net banking for nine banks including Axis Bank, HDFC, ICICI, SBI etc. PayU is expected to launch its service with its integration with Ibibo and its e-commerce sites tradus.in and goibibo. PayU says that it has developed the payment APIs with all major shopping carts and APIs to assist automatically capture, reimbursement and cancel transactions sans any manual efforts.