Atul
02-06-2008, 12:04 PM
We provide internet services. we use a fully automated billing systems, where credit cards are charged automatically everymonth and credit is made to customer accounts.
Such type of automated recurring billing is very common in subscription based services.
Few years ago, we approched all major bank payment gateways in India for merchant account. All efforts were in vain becuase they could not understand our technical requirements or had no time to understand the same.
We then, sitting from India, opened a company abroad and got Merchant Account in a matter of 30 days.
It has been almost 5 years now. We process over 4000 recurring payments everymonth. We again contacted Indian providers. I happen to talk to national head of major provider. He could not give me satisfactory answer why our kind of transactions is not acceptable in India even though technology is there.
I have read many horror stories of customer who are using Indian payment gateways on internet. I am sure, just like our company, all those harassed
must have signed up merchant account abroad.
What a sorry state, Indian companies are made to pay merchant account fees in other countries, because, our Bank do not want to either learn cutomers requirement or do not have WILL to open up for e-commerce for Small and Medium Enterprises. I am sure Indian Govt. must be losing significant Revenue as a result of this.
Such type of automated recurring billing is very common in subscription based services.
Few years ago, we approched all major bank payment gateways in India for merchant account. All efforts were in vain becuase they could not understand our technical requirements or had no time to understand the same.
We then, sitting from India, opened a company abroad and got Merchant Account in a matter of 30 days.
It has been almost 5 years now. We process over 4000 recurring payments everymonth. We again contacted Indian providers. I happen to talk to national head of major provider. He could not give me satisfactory answer why our kind of transactions is not acceptable in India even though technology is there.
I have read many horror stories of customer who are using Indian payment gateways on internet. I am sure, just like our company, all those harassed
must have signed up merchant account abroad.
What a sorry state, Indian companies are made to pay merchant account fees in other countries, because, our Bank do not want to either learn cutomers requirement or do not have WILL to open up for e-commerce for Small and Medium Enterprises. I am sure Indian Govt. must be losing significant Revenue as a result of this.