Payment Options Small Businesses

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Payment Options Small Businesses
- Vishwas Patel CEO Avenues
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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 !

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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

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Need of the Hour
Software on Demand
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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

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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

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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

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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!

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Thank you