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Payment Options Small Businesses

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.

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Payment Options Small Businesses

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  1. FOR Payment Options Small Businesses - Vishwas Patel CEO Avenues

  2. 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 !

  3. 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

  4. Need of the Hour Software on Demand

  5. 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

  6. 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

  7. 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

  8. 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!

  9. Thank you

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