REQUIRED OPINION FOR PAYMENT GATEWAY
  • manish1974manish1974
    freinds,

    I want to integrate payment gateway on my website,suggest me which is the best payment gateway which transfers 100% payment in USD in my EEFC a/c or issues foreign inward remittance certifigate ,I enquired with ccavenue it is remitting only 50% payment in USD which is a loss compared to offline business in terms of Export/I.T benefits.
  • HimanshuHimanshu
    Manish - i am still researching the same for last 1 month, but didn't get any answer for the exactly same problem

    pls suggest if you found any solution
  • NitinSharmaNitinSharma
    Hello Manish,

    That is the best deal, this is happening because in online payments in India only 1-2 banks process USD currency,so dependency level is higher.

    Hi Himanshu,
    The best option I suggest for you is, avail ccavenue INR processing where you can accept funds from overseas also through credit cards.

  • HimanshuHimanshu
    Hi Nitin,

    Thanks for your suggestion.But our business model won't permit that.

    We are in processing to selling travel products(sans Air) where in most of the time Buyer is foreigner & pays in USD and we source the same from worldwide DMC's who charge us in USD.

    So definitely i would not convert them to INR ,since it occurs me a charge of   (conversion + Reconversion + Service Tax ) that amounts to 12% loss for doing nothing.

    My bankers are Kotak & based on our balance sheet & inward/outward remittances history , they had offered  EEFC account in USD/SGD/GBP , since we have all the complainces from RBI/DGFT.

    We have already CCAvenue INR payment gateway for Indian Billing , but i am not opting for International cards with them, since they transfer 50% amount in USD & 50% in INR.So for me that 50% booking i would take in loss.

    Also it doesn't make sense since i can leverage my USD amount for tax sops from the GOI later on (That's what most software companies does)

    Also incidentally one of my known is in MasterCard & he had told me that for International cards MasterCard/Visa charges 0.5-0.75% TDR & For Indian Cards they charge 1.00 - 1.25% TDR

    I had spoken to every major payment gateway & these are the stats


    PAYPAL - Remit in INR only
    GOOGLE CHECKOUT - Remit in INR only

    PAYU -- 5.5% TDR ( 6000 INR + 2400 INR AMC)
    CCAVENUE  --- 7% ( 7500 INR + 1200 INR AMC)
    2CO  --- 5.5% ( ZERO SETUP FEES + 15 USD per SWIFT transfer)
    PAYAZA  --- 3.5% ( ZERO SETUP FEES + SWIFT transfer FREE)
    MONEYBOOKERS -- 1.9% ( 20 EURO PER MONTH + 1.8 EURO per SWIFT transfer)
    FASTSPRING - 8.9%( ZERO SETUP FEES + 15 USD per SWIFT transfer)
    LIBERTY RESERVE - DIDN'T FIND GOOD REVIEWS ONLINE.Also they don't do direct transfer to your bank account .You need the wholesaler for routing the money, and this kind of routing would surely land you in ED net in India.

    Till now Payaza & MoneyBookers are shortlisted,but they take too much time to approve...I mean you need to go through lot of paperwork for their API

    If somebody can ping Any other gateway on this forum....i am happy to check it

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