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December 16, 2013

Snapdeal to simplify online transactions with new payment gateway

Snapdeal, an India-based online retail website, is simplifying its online transactions with the launch of its own payment gateway.

By Verdict Staff

Snapdeal, an India-based online retail website, is simplifying its online transactions with the launch of its own payment gateway.

The payment gateway will allow the retailer to authorize and process credit card payments securely through the user’s bank account. It will also help Snapdeal users to transact easily and securely without the need to use cash for online purchases.

Besides saving credit card information, billing and shipping details of the customer, the payment gateway will also keep a track of the buyers’ choices, allowing them to complete transactions quickly.

Snapdeal co-founder and CEO, Kunal Bahl, was quoted by The Economic Times as saying that, "In our business, the core marketplace is the king, the logistics platform the queen, while the payments platform is the jack. We need to get this entire stack in place."

Snapdeal will join Flipkart, which recently launched its own payment gateway PayZippy, in July 2013.

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