New Online Payment Solution – PayZippy by Flipkart
By on July 3rd, 2013

After having shut down Flyte for good, Flipkart has unveiled a new service, a new payment gateway — PayZippy, which is housed under a separate firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd.

PayZippy will now join the party at the current competing online payment industry which includes some of the most widely used services like PayTM, CCAvenue, Citrus, and many others. Although there are a bunch of choices that we already have, what’s so different about Flipkart’s PayZippy is that is aims to partner with banks directly and provide higher efficiency unlike the current payment gateways.

PayZippy by Flipkart

PayZippy pricing for Indian Merchants

 

For Debit Cards
Transaction Value Standard Pricing Promotional Pricing
Rs. 2000 or less 0.75% N/A
Rs. 2000 or more 1.0% N/A
For Credit Cards
Transaction Value Standard Pricing Promotional Pricing
Rs. 0-5 lakhs 3.5% 3.5% 2.5%
Rs. 5-10 lakhs 3.25% 3.25% 2.25%
Rs. 10-25 lakhs 3% 3% 2%
Rs. 25-100 lakhs 2.5% 2.5% 2%
Rs. 1 Cr + Custom Quote Needed

For debit card transactions, merchants will be charged 0.75 percent of the transaction value if less than or equal to Rs. 2000, and 1 percent for transaction value Rs. 2000

What PayZippy offers seems to be industry standard rates on credit and debit cards. At present, the service is running a promotional offer cutting down the standard pricing by one percent.

According to Flipkart, they have been working on this payment gateway solution for over two years and claims to have done through research. PayZippy features real-time tracking system of bank gateways, quite similar to what CCAvenue had launched few months back.

With Flipkart’s new PayZippy service, merchants can start accepting payments from most of the major credit & debit cards including MasterCard, Visa, and Maestro. However, Net Banking transactions are not enabled yet.

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Author: Joel Fernandes Google Profile for Joel Fernandes
Joel Fernandes (G+) is a tech enthusiast and a social media blogger. During his leisure time, he enjoys taking photographs, and photography is one of his most loved hobbies. You can find some of his photos on Flickr. He does a little of web coding, and maintains a tech blog of his own - Techo Latte. Joel is currently pursuing his Masters in Computer Application from Bangalore, India. You can get in touch with him on Twitter - @joelfernandes, or visit his Facebook Profile for more information.

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