ERP Insights >> Magazine >> April - 2016 issue
E-Billing Solutions: Boost Your Payment Success Rate
Author : Nandini Mukherjee
Friday, April 22, 2016
The electronic payments industry in India has witnessed a noticeable growth in the last five years. Consumers are increasingly using credit cards, debit cards and net banking for online purchases. Payment gateways are now serving as the starting point for all online payments and are responsible for processing online transactions in secure & confidential manner. With high setup costs and fragmented services, Indian payments gateway market had room for organizations that can offer holistic, end-to-end services at reasonable prices. Identifying this opportunity and trying to establish a foothold in the market, E-Billing Solutions (EBS) came into being in 2005.
The company facilitates online purchases from a merchant's website and helps them to collect payment from the end customers through net banking, credit and debit cards."We are a neutral payment platform and intend to offer maximum possible payment options available to our clients as a one-stop shop solution. We take pride in our service delivery and one of the features that really stand out is that we make our merchants Live within 24 Hours flat," explains Bhavin Mody, Director, E-Billing Solutions.Currently, EBS is powering more than 12,000 merchants from diverse verticals such as Education, E-tailing, Utility, Travel, Tourism, to name a few.
At a time when there are a large number of payment solution providers in India, EBS hasstrived to carve a niche in the space by re-aligning its strategy from being having a product-driven approach to a solution-driven one."It lends us flexibility to re-visit all our products and deliver a solution that solves real business problems for our large prospective clients," adds Bhavin.
Highlighting the organizational challenges, Bhavin avers,"India is one of the large countries where online card payments require being two-factor authenticated and hence 3-D Secure has been mandated by the banks in India. While this has opened up payments to a very great extent, it has also led to the problem of lower success rates. This is one of the very common problems which our clients come to us with."EBS' out-of-the-box ideas to deliver financially feasible solutions together with their well spread network of partners leaves no stone unturned to not only solve these business problems but also to get cognizance of some of the latent needs of clients and prospects.
Since inception, the company has worked with a variety of clients belonging to various industries and has helped them with their online payment services, offline payment services and risk management services."Most of our clients are using the payment processing capabilities of EBS with basic fraud management capabilities.While some of the others are using our advanced fraud management capabilities," he adds.
The Journey
With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services. Growing steadily over the past 10 years, the company has on-boarded more than 500 educational institutes in the recent years and has won several awards like Best e-commerce payment innovation, awarded by Indian e-retail 2012, amongst others. They are the first Indian merchant account provider to achieve the PCI DSS Level 3.0 Standards of compliance,"In the years to come, we will continue to be a neutral player in this space with the intent to enable maximum possible payment options not only for online payments but for usage at PoS terminals as well," concludes Bhavin.
E-Billing Solutions: Boost Your Payment Success Rate
Author : Nandini Mukherjee
Friday, April 22, 2016
The electronic payments industry in India has witnessed a noticeable growth in the last five years. Consumers are increasingly using credit cards, debit cards and net banking for online purchases. Payment gateways are now serving as the starting point for all online payments and are responsible for processing online transactions in secure & confidential manner. With high setup costs and fragmented services, Indian payments gateway market had room for organizations that can offer holistic, end-to-end services at reasonable prices. Identifying this opportunity and trying to establish a foothold in the market, E-Billing Solutions (EBS) came into being in 2005.
The company facilitates online purchases from a merchant's website and helps them to collect payment from the end customers through net banking, credit and debit cards."We are a neutral payment platform and intend to offer maximum possible payment options available to our clients as a one-stop shop solution. We take pride in our service delivery and one of the features that really stand out is that we make our merchants Live within 24 Hours flat," explains Bhavin Mody, Director, E-Billing Solutions.Currently, EBS is powering more than 12,000 merchants from diverse verticals such as Education, E-tailing, Utility, Travel, Tourism, to name a few.
At a time when there are a large number of payment solution providers in India, EBS hasstrived to carve a niche in the space by re-aligning its strategy from being having a product-driven approach to a solution-driven one."It lends us flexibility to re-visit all our products and deliver a solution that solves real business problems for our large prospective clients," adds Bhavin.
Highlighting the organizational challenges, Bhavin avers,"India is one of the large countries where online card payments require being two-factor authenticated and hence 3-D Secure has been mandated by the banks in India. While this has opened up payments to a very great extent, it has also led to the problem of lower success rates. This is one of the very common problems which our clients come to us with."EBS' out-of-the-box ideas to deliver financially feasible solutions together with their well spread network of partners leaves no stone unturned to not only solve these business problems but also to get cognizance of some of the latent needs of clients and prospects.
Since inception, the company has worked with a variety of clients belonging to various industries and has helped them with their online payment services, offline payment services and risk management services."Most of our clients are using the payment processing capabilities of EBS with basic fraud management capabilities.While some of the others are using our advanced fraud management capabilities," he adds.
The Journey
With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services. Growing steadily over the past 10 years, the company has on-boarded more than 500 educational institutes in the recent years and has won several awards like Best e-commerce payment innovation, awarded by Indian e-retail 2012, amongst others. They are the first Indian merchant account provider to achieve the PCI DSS Level 3.0 Standards of compliance,"In the years to come, we will continue to be a neutral player in this space with the intent to enable maximum possible payment options not only for online payments but for usage at PoS terminals as well," concludes Bhavin.
The company facilitates online purchases from a merchant's website and helps them to collect payment from the end customers through net banking, credit and debit cards."We are a neutral payment platform and intend to offer maximum possible payment options available to our clients as a one-stop shop solution. We take pride in our service delivery and one of the features that really stand out is that we make our merchants Live within 24 Hours flat," explains Bhavin Mody, Director, E-Billing Solutions.Currently, EBS is powering more than 12,000 merchants from diverse verticals such as Education, E-tailing, Utility, Travel, Tourism, to name a few.
At a time when there are a large number of payment solution providers in India, EBS hasstrived to carve a niche in the space by re-aligning its strategy from being having a product-driven approach to a solution-driven one."It lends us flexibility to re-visit all our products and deliver a solution that solves real business problems for our large prospective clients," adds Bhavin.
Highlighting the organizational challenges, Bhavin avers,"India is one of the large countries where online card payments require being two-factor authenticated and hence 3-D Secure has been mandated by the banks in India. While this has opened up payments to a very great extent, it has also led to the problem of lower success rates. This is one of the very common problems which our clients come to us with."EBS' out-of-the-box ideas to deliver financially feasible solutions together with their well spread network of partners leaves no stone unturned to not only solve these business problems but also to get cognizance of some of the latent needs of clients and prospects.
Since inception, the company has worked with a variety of clients belonging to various industries and has helped them with their online payment services, offline payment services and risk management services."Most of our clients are using the payment processing capabilities of EBS with basic fraud management capabilities.While some of the others are using our advanced fraud management capabilities," he adds.
The Journey
With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services. Growing steadily over the past 10 years, the company has on-boarded more than 500 educational institutes in the recent years and has won several awards like Best e-commerce payment innovation, awarded by Indian e-retail 2012, amongst others. They are the first Indian merchant account provider to achieve the PCI DSS Level 3.0 Standards of compliance,"In the years to come, we will continue to be a neutral player in this space with the intent to enable maximum possible payment options not only for online payments but for usage at PoS terminals as well," concludes Bhavin.
