Ah! From comments on our today’s coverage on how RBI has restricted incoming payments to India, it seems that it has really become difficult for small businessmen and entrepreneurs to do business from India. At this moment, remaining competitively available to our customers outside is important for us, and to support this I have compiled a small list of options for online payment transactions.
Please share if you have more names of online payment services in/for India and we will mention it here. Also please let us know your views on quality of these payment services if you’ve used them before!
It is understood that RBI’s restrictions will apply on every other payment gateway service over the planet (pretty much the same way it does to Paypal), and the only approach for Indian SMEs/businessmen would be to convince RBI’s understanding on the subject. Fingers crossed, till office re-opens next week.
Here it goes the list:
The list & short reviews will be continuously updated; please send in your responses through comments below.
– Pi Team
- Cash is King. Long live the King.
- Review of Payment Gateways in India
- The Status Quo of Payments in India
- 35% of Transactions Were Electronic in 2009-10 [RBI’s Annual Report]
AlertPay: Alertpay is a great way to make online money transactions. It has good security features that match up to Paypal. It is a is a free to join internet payment service allowing you to send and receive money online. Alertpay has an easy interface for users to operate. It is suitable for both – the beginner who just transacts in a few hundred dollars as well as regular internet merchants who have much higher amounts in their account. Over the last few years, AlertPay has continued to improve its features to provide as high reliability as Paypal. In Alertpay you can register with both- a business account or a personal account. A business account in Alertpay allows you to accept credit card payments as well.
Google CheckOut: This is an extremely safe way for online buyers and sellers to transact money. None of your personal details will be shared as they will be held secure with Google itself. By using the Google Checkout service, you do not need to share your details with vendors online. Most people have begun to prefer Paypal over Google Checkout due to the Google brand name in it. They have a well-designed user dashboard where you can track all your orders and shipping in one place.
OboPay: OboPay became popular mainly when Paypal services were suspended for 5 days. OboPay provides instant money transfers via cell phone and internet. The registration for new users is free and they do not charge you anything for receiving payments. It supports all kinds of online payments such as sending, receiving, purchasing via online stores etc. Similarly, just like Paypal allows money transfer directly to your bank account, you can move money from your Obopay account to your bank account.
If you want to register for any of the above online payment services above. I have hyperlinked them to the site’s homepages. You can register yourself and make use of their services. Although, these alternatives to Payal are quite good.