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“We take security, risk mitigation and fraud detection very seriously”

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Payment Services is India’s leading electronic payments firm with a simple vision to offer anytime, anywhere payments to all. Incorporated in 2000 as Billjunction.com, They pioneered the electronic bill payment solution in India. Their solutions span from emerging businesses to the largest and most trusted brands across India. In a  tête-à-tête with IMAGES Retail, Kumar Karpe, Chief Executive Officer – Payment Services, talks about the USP of and how the payment landscape is evolving in the country.

How is Tech Process changing the payment landscape in India?

TechProcess has been at the forefront of innovation in the payments space right from its inception. We are pioneers of the online bill payment solution with Bill Junction, which is the first of its kind initiative in India. Since then, there has been an unprecedented boom observed in the electronification of payments. In today’s operations, a merchant seeks to move towards assured collections and reduce the time for realize funds. Simultaneously, he works towards providing an enhanced customer experience by making it easier and more convenient for them to pay. Being in the payments space for over decade now, we have expertise in servicing corporate (B2B) as well as retail (B2C) requirements. Our experience has helped us analyse the market trends and consumer feedback and culminate it into a relevant Point-Of-View on consumer expectations while making payments. Paynimo, our next generation payment gateway, is a result of these consumer expectations.

What are the USPs of your e-commerce/ m-commerce payment gateway services?

As a market leader in the payments space, the company processes more than 150 million transactions a year, across all modes of electronic payments, for more than 1500 merchants across various industries.

It is a known fact that the e-commerce industry in India has gained a 360 degree momentum. Apart from the number of consumers transacting on e-commerce websites, today we have a whole new trend of niche players catering to various customer needs. Inferring from this trend, a one-solution-fits-all approach has become redundant. These niche players have very different payment requirements and look for platforms depending on their nature of business and average ticket size. Hence, a retailer selling luxury furniture would prefer a payments mode which is entirely different from a sell-it-all e-tailer.

After investing great amount of time and resources in anaylising these trends, we have infused these insights into our product Paynimo – a payment gateway which incorporates services that are tailored to meet the varied payment requirements of a merchant. The platform is an amalgamation of multiple world class features from the banking and technology sectors.

Beginning with uniqueness, Paynimo is the first in the industry to implement highly secured token based merchant integration, which reduces the scope for fraud on account of browser-to-browser communication. When compared to other platforms, Paynimo requires up to 4.5 times less user input, hence pacing up the entire OTP/3D secure checkout duration by 400%. Along with its widest Integration support available for a variety of web and mobile platforms, the platform also provides the user with ‘Easy Switch’ that supports “point and shoot” integration technology. So, if we have an existing integration in place, Paynimo can easily adapt the format and can start processing payments at the shortest possible time. This brings us to its next feature—instant activation. Paynimo starts accepting payments as soon as we complete the integration and requirements. It offers one of the most comprehensive payment options across cards (credit/debit/prepaid), netbanking, IMPS, EMI, ATM PIN-Debit, and Wallets (mobile and digital). International card holders need not worry any more as Paynimo also processes multi-currency settlements. What makes Paynimo to be the best deal for merchants is that, it is simple and secure for consumers to make e-payments at the time of delivery, hence there are no additional device/ infrastructure costs involved.

Choosing a reliable payment gateway can be a daunting task for any e-tailer. What factors should be kept in mind while choosing the payment gateway and how does Tech Process help them navigate this?

Today, merchant challenges can’t be clubbed or generalized. Some key challenges that we have observed across many of our interactions are-

  • Quick Go to market is the key
  • Cart abandonment by customers
  • Risks involved, cost and realization of Cash on Delivery
  • Relevance of payment options need to be presented
  • Consistent user interface required across all touch-points

At TechProcess, we strive hard to overcome these challenges by building in world class features in our products. Our widest integration support is available for a variety of web and mobile platforms. Our focus has always been to bring ease to making payments. If you have an existing integration in place, Paynimo can easily adapt the format and can start processing payments for you at the shortest possible time. Our technologies have features like Inline Card Vaulting and Standing Instruction Capture from the consumer that make single tap or no tap subsequent checkouts possible. We not only provide faster authorizations through direct routing to Bank/Issuer page, but we also specialize in device Optimization, enabling the customers with configurable checkout experience on Mobile and Internet. The front-end of our payment solutions are designed keeping in mind the merchant branding guidelines, as we provide configurable payment checkout user interface. The feature of Push pre-selected carts, we can identify where the customers have dropped out and present them the cart from exactly that point to push sales.

Are Indian customers now more confident about making payments online?

On an average, each POS terminal has processed 1260 transaction in 2014; and each ATM machine has been used for 38,720 transactions in 2014. In fact, each debit card in India has been used for 15 times, whereas each credit card in India has been used for 29 times. When calculated, India has transacted an amount of 24676512 Million INR in 2014. These figures reflect that majority of people are now more comfortable in transacting online than before.

India is currently in a transitional phase from purchasing goods and services from the kirana store to paying by clicks. But yes we can say that things are definitely looking ‘Up’ from here

How much time does your payment gateway take to integrate with an e-commerce platform?

With Paynimo, we promise one of the fastest activation. We have made merchants active via electronic payments services, in less than an hour of him submitting all required and relevant documents.

What is the fee structure that you charge for your services?

With our best-in-class features and strong leverage on bank and partner relationships, we offer the best value for money solutions to our merchants. We offer a transaction-based fee structure to our merchants that become a part of their OPEX.

What are the available payment options at Tech Process? What is your refund and cash back policy like?

Being one of the most trusted names in payments space, TechProcess brings together the widest and most comprehensive payment options. More than 170+ payment options covered across  cards (credit/debit/prepaid), netbanking, IMPS, EMI, ATM PIN-Debit, Wallets (mobile and digital) and more. We have devised some of the best refund mechanisms in the market, and with Paynimo, we offer instant refunds to the end consumer, meaning that a consumer’s money is available to him for his discretion again.

How do you ensure the security of your online payment environment? What you are doing to tackle fraud detection and risk mitigation?

At TechProcess we take security, risk mitigation and fraud detection very seriously. For the same, there are multiple players that need to perform their tasks seamlessly.

  1. The Integration we build between merchant – TPSL – Banks is so tightly knit and also encrypted to military standards.
  2. We offer the best user interface and user experience on payments keeping the rules of the land in mind, without ever compromising on end consumer safety
  3. We comply with most stringent quality standards and card safety parameters and are PCI-DSS 3.0 compliant.
  4. All our merchants are scanned through a rigorous Two way process – First stage is prior to On boarding the merchant – where we follow an extremely robust mechanism which involves, merchant screening, complete KYC checks and back end verification prior to his on boarding a merchant into its system. While the second stage is post on boarding; we have in house fraud management systems and tools developed wherein transactions are filtered through various risk parameters to weed out probable fraudulent transactions and thus fraud is kept under check under constant vigil.

As an industry expert, what you think are the key trends driving evolving payment gateway strategies and streamlining payment acceptance solutions?

One of the most important trends that we see today to get deals across multiple merchants has led to consumers opening multiple wallet accounts. This has added another pointless layer, where a consumer is required to first make a transaction to keep his wallet topped up and again make a payment at merchant website using that wallet.

We all agree to the fact that we are yet to fully explore all the usability of our bank accounts and debit cards. TechProcess realizes the potential that lies in this situation and thus Paynimo is a ‘Super Wallet’ which lets your Debit Card do the same things and more. More importantly, it takes away the hassle of remembering those multiple usernames, passwords, amounts stashed in each wallets and so on. Apart from this some of the other key trends that we see evolving are

  1. Consumers will need the choice of multiple modes
  2. Inter-operability across devices, with mobile being primary and preferred device now
  3. Different solutions are required for different merchants- payment modes, User experiences, minimum click/tap checkout etc.