Lack of payment processing provider for Indian merchants

dashingriddler

legendary

Activity: 1258

Merit: 1001

Quote from: spndr7 on July 22, 2015, 12:47:38 PM

Quote from: dashingriddler on July 22, 2015, 12:08:57 PM

Yes but you still need internet connected mobile or computer to generate bitcoin address and amount against invoice though.
App is on the way

Bitcoin addresses can be generated offline.

The entire idea of payment gateway in this context is to have the processor settle to bank account. For this to happen someone should tell you that they will buy the bitcoins you are accepting at an agreed rate. And this agreement of rate happens over internet.

For a business to just accept bitcoin for his product and keep those bitcoins which is calculated based on the exchange rate he presumed there is no need of internet.

spndr7

legendary

Activity: 1020

Merit: 1000

Quote from: dashingriddler on July 22, 2015, 12:08:57 PM

Yes but you still need internet connected mobile or computer to generate bitcoin address and amount against invoice though.
App is on the way

Bitcoin addresses can be generated offline.

dashingriddler

legendary

Activity: 1258

Merit: 1001

Quote from: shahadil on July 20, 2015, 04:29:02 PM

Quote from: dashingriddler on July 20, 2015, 01:24:36 PM

Unocoin is already providing the payment processing service. As of now the fee for processing is 0%. Which means if some one buys the shoes you sell for 500 INR, then all of that 500 INR will reach your bank account the next business day.

https://www.unocoin.com/merchants/overview

This seems to be for online shops. do you have a solution for offline retail as well?

Yes but you still need internet connected mobile or computer to generate bitcoin address and amount against invoice though.
App is on the way

spndr7

legendary

Activity: 1020

Merit: 1000

An attempt in that direction, payment processing services in bitcoin for INR, using 0-confirmation
instantaneous transactions.

DEMO

Detailed API for the payment processing to be released soon.

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: Fernandez on July 20, 2015, 11:22:02 PM

I never have to pay anything extra when paying online, and sometimes even get discounts. In addition the points I get on my CC allows me to get some useful vouchers from time to time.

I don't see why I will try to pay in Bitcoins.

I guess it will take some time before merchants start passing on cost savings to customers.
Until then, there is nothing in it for bitcoin users.

Fernandez

legendary

Activity: 1008

Merit: 1000

I never have to pay anything extra when paying online, and sometimes even get discounts. In addition the points I get on my CC allows me to get some useful vouchers from time to time.

I don't see why I will try to pay in Bitcoins.

shahadil

full member

Activity: 202

Merit: 100

Quote from: dashingriddler on July 20, 2015, 01:24:36 PM

Unocoin is already providing the payment processing service. As of now the fee for processing is 0%. Which means if some one buys the shoes you sell for 500 INR, then all of that 500 INR will reach your bank account the next business day.

https://www.unocoin.com/merchants/overview

This seems to be for online shops. do you have a solution for offline retail as well?

dashingriddler

legendary

Activity: 1258

Merit: 1001

Unocoin is already providing the payment processing service. As of now the fee for processing is 0%. Which means if some one buys the shoes you sell for 500 INR, then all of that 500 INR will reach your bank account the next business day.

https://www.unocoin.com/merchants/overview

deadley

legendary

Activity: 2562

Merit: 1064

Quote from: RocketSingh on July 14, 2015, 03:24:03 PM

Quote from: polynesia on July 14, 2015, 01:16:16 PM

Quote from: shahadil on July 13, 2015, 02:31:56 AM

he doesnt pay any fees to his card processing merchant as well as they give so much volume to them.

I am surprised at this. Is the fee waiver temporary or permanent? Is it for debit cards or credit cards as well?
It would be tough to imagine credit card companies not charging fees.

I think debit/credit cards companies are waivering the merchant fees for accepting payment face to face through a card swipe machine. For online usage, they'll still charge.

I don't think. What I know swipe card company charge around 1.25% to 2.5% according to volume of month in merchants.

RocketSingh

legendary

Activity: 1662

Merit: 1050

Quote from: polynesia on July 14, 2015, 01:16:16 PM

Quote from: shahadil on July 13, 2015, 02:31:56 AM

he doesnt pay any fees to his card processing merchant as well as they give so much volume to them.

I am surprised at this. Is the fee waiver temporary or permanent? Is it for debit cards or credit cards as well?
It would be tough to imagine credit card companies not charging fees.

I think debit/credit cards companies are waivering the merchant fees for accepting payment face to face through a card swipe machine. For online usage, they'll still charge.

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: shahadil on July 13, 2015, 02:31:56 AM

he doesnt pay any fees to his card processing merchant as well as they give so much volume to them.

I am surprised at this. Is the fee waiver temporary or permanent? Is it for debit cards or credit cards as well?
It would be tough to imagine credit card companies not charging fees.

BitCoinDream

legendary

Activity: 2394

Merit: 1216

The revolution will be digital

Quote from: shahadil on July 12, 2015, 12:23:20 PM

While doing my research, i found out that bitpay will not remit funds to an indian bank account

I think, bitpay can be used. It works similar to PayPal. In case, it does not remit to an Indian account, it can be used to pay a PayPal email address and then take it in. But, I personally, will be more happy to see the solution is being provided by an Indian.

buysellbitcoin

legendary

Activity: 1105

Merit: 1001

https://www.zebpay.com

Quote from: shahadil on July 13, 2015, 02:31:56 AM

That is great, but just a little insight i would like to give you guys. i mentioned to him how bitpay doesnt have any fees for the first million, and his reply was, he doesnt pay any fees to his card processing merchant as well as they give so much volume to them. so your revenue model will depend on?

I dont think at the moment any of the player will be thinking about revenue. Its all about capturing market and building brand. Also merchants provide essential liquidity in the platform ( In exchange sense they are market makers

) I can not disclose our merchant plan at the moment but its very different from others. But again these are all talks until it comes in app and people actually use it. We really do not have very near future ETA on it.

Regards

shahadil

full member

Activity: 202

Merit: 100

That is great, but just a little insight i would like to give you guys. i mentioned to him how bitpay doesnt have any fees for the first million, and his reply was, he doesnt pay any fees to his card processing merchant as well as they give so much volume to them. so your revenue model will depend on?

buysellbitcoin

legendary

Activity: 1105

Merit: 1001

https://www.zebpay.com

I think all 3 Zebpay, CoinSecure, Unocoin is working on this. Our merchant app is under development at the moment.

Regards

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

We coming up with something very soon..

shahadil

full member

Activity: 202

Merit: 100

The one thing we lack in India is merchants accepting bitcoins as a payment option. I have a relative who owns a store in a mall and i was talking to him about accepting bitcoin as a payment option. Since, i had not explored this space much, 2 names came to mind, namely bitpay and unocoin and i suggested him to look into it, and came home. While doing my research, i found out that bitpay will not remit funds to an indian bank account and unocoin seems to be only supporting online merchants and not offline ones. Yes, he can accept bitcoins and sell them on his own, but thats not going to be seamless.

The other argument is he can keep the bitcoins himself and use one of the many apps, which act a a POS, but trying to sell that to someone who has not used bitcoins and heard only bad things about it, is going to be really difficult.

So, the point of this topic is, is there any solution out there which any one is aware of?

Topic: Lack of payment processing provider for Indian merchants (Read 3001 times)