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Jan
10
December 30, 2010 : CCAvenue in 2010
Posted by Admin Admin on 10 January 2011 03:25 PM

30 December, 2010 - Mumbai, India 


One more year is over and as we begin to celebrate, the New Year, let’s take the time to reflect on the past year. 

At CCAvenue, our ultimate mission is to connect you with the widest possible market audience and hence, we are continuously in touch with banks and other financial institutions to bring them on-board. In 2010, we made great strides towards our goal. The following additions are the results of our on-going efforts: 

The Direct Debit Engine Expansion
In the past year, CCAvenue has added 6 new Indian Banks to it direct debit engine - State Bank of Mysore, Andhra Bank, Indian Overseas Bank, Standard Chartered Bank, Tamilnad Mercantile Bank and ING Vysya. 

Each of these banks has a substantial customer base and a strong presence in India and even internationally. The addition of these banks will expand your market reach to include customers from the above-mentioned banks, easily. You will be able to sell your products or services and accept payments directly through their bank accounts.

More Cash Card Options
CCAvenue has also gone 'live' with another cash card option – Done Card. The addition of another cash card payment will enable you to target those audiences who are reluctant to use their credit cards or net banking enabled accounts to pay for your products or services online, more easily. Done Card is a popular Indian cash card option that will definitely help increase sales and enhance profitability. 

To conclude, in 2010, CCAvenue had a productive year and has grown and emerged stronger than ever before. We promise to continue our efforts to make things better and we seek your active support, feedback and co-operation in the New Year.

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Jan
10
29 December, 2010 - Mumbai, India

CCAvenue is pleased to reveal that it will be adding yet another cash card option ‘OxiCash’ to its list of payment network. OxiCash is a unique pre-paid service that helps customers who do not have a credit card, debit card or net banking account to purchase all types of products and services online easily. 

The online mart in India has been growing steadily in the past few years as e-tailers have expanded their payment offerings to include debit card and direct debit payment options in addition to credit cards. However, there still exists a portion of the population that does not possess any of the above mentioned payment option and there is a segment of the population that despite having a credit card or debit card is reluctant to use it online to payment. To target this market, CCAvenue has been actively seeking out and negotiating with alternative payment options like cash cards. 

'A cash card is a pre-paid card that acts as a Virtual Wallet and can be used to purchase all types of products and services online'. 

CCAvenue has already integrated two popular cash card options - Itz Cash and Done Card to its payment network. The addition of both these cash cards has opened up new markets. In the near future, CCAvenue will be adding another Cash Card option to its growing list of alternative payment options 'OxiCash'.

OxiCash is a unique pre-paid service or a Prepaid Stored Value Virtual Wallet. Customers can purchase an OxiCash Card and use it to shop online easily without revealing any sensitive card information. OxiCash from Oxigen is popular in India and has is distributed through a wide network of 75,000 outlets.

CCAvenue merchants can look forward to converting OxiCash's extensive user base into customers in the near future.


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Jan
10
December 27, 2010 : IVR Transactions to get safer in the New Year
Posted by Admin Admin on 10 January 2011 03:23 PM

27 December, 2010 - Mumbai, India


The Reserve Bank of India has put in a mandate that comes in effect from February 1, 2011 that an additional password will be required for IVRS transactions done through the telephone. 

Currently, most IVR transactions go through successfully if the card number, CVV and expiry date are entered by the user at the time of the transaction. However, from February 1, this will not be so. An additional 6 digit numeric password, commonly known as the OTP (one time use password) will be required for the IVR transaction to go through successfully.

This OTP password will be generated at the card holder's request by the card issuing bank either just before or at the time when the transaction is being done. This will be sent via an SMS to the card holder’s mobile phone number that has been registered previously with the bank. This is an important point to note. The password is sent only to the card holder’s registered mobile number; and in some cases; to his email ID registered with the bank. Without this password, the transaction will not be completed successfully. The OTP password will be valid for one-time use only and in most cases it comes with a time specific expiry period, whether it is used by the card holder or not.

Most major banks have already communicated this new requirement to its customers. While there may be a drop in transactions in the short term till customers get used to this, over the medium to long term, the pace of transaction growth will come back to normal and continue to grow at an accelerated pace. The extra layer of security is always welcome and will increase the public’s faith in the system resulting in more customers using this medium to pay. Add to this, the opening out of the Debit Card instrument for IVR transactions will result in a very large population of those who don’t own credit cards now being able to pay through the IVR mode. This can only mean more good news for the merchants.

Most banks have put up a detailed explanation of the process to generate the OTP on their respective websites. Please visit the sites for more details. We have provided links to some of them below:

Click here for HDFC Bank  |  Click here for ICICI Bank
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Jan
10
December 20, 2010 : Maestro Debit Cardholders Can Now Shop Online Easily
Posted by Admin Admin on 10 January 2011 03:22 PM

Steps to register your Maestro Debit Card for online purchase

20 December, 2010 - Mumbai, India

Found the perfect gift for your mom online but can’t buy it because you have a Maestro debit card? These online purchasing difficulties are now problems of the past. Maestro Debit Cardholders can now enroll their cards with their issuing bank for online passwords and begin shopping for their Christmas and Hanukkah presents online. All you need to do is take 2 simple steps:

Step 1: Enroll your card with your issuing bank for online password.

Step 2: To enroll your card please follow the instructions mentioned against your card-issuing bank.

* Please use your existing IPIN (Internet PIN). To get an IPIN click on the above link and click on “Get your IPIN here” link in the Login Panel.

Once you have completed these 2 steps i.e. once your card is enrolled, you can enjoy shopping with your Maestro and MasterCard debit cards online.

For more information, click here.

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Jan
10
December 15, 2010 : RBI Stops Processing MOTO Transactions on POS Terminals
Posted by Admin Admin on 10 January 2011 03:21 PM

15 December, 2010 - Mumbai, India


‘Processing MOTO Transactions on POS Terminals is to stop, as of 1st January, 2011’ ~ Reserve Bank of India. The policy change notification is the latest credit card security measure issued by the Reserve Bank of India (RBI).

RBI’s purpose of issuing this notification is to tighten the controls on credit card operations, keeping in mind the safety of the cardholder. This policy change while great for cardholders will have an adverse impact on the hospitality industry (a significant percentage of hoteliers secure reservations by collecting guest card information) as well as any merchant that uses a ‘credit card guarantee’ method to operate.

In the ‘credit card guarantee’ method, merchants collect the customer’s credit card details to confirm the sale of the product or service without requiring them to pay an advance or charging the card. The card information is only used in case of a cancellation, wherein, the merchant charges the card in the absence of the cardholder. From 1st January, 2011 this method of operating will become obsolete and any merchant that has not abated their business to weather this policy change will experience a loss in revenue. 

The situation is not as dire as it could be; there are alternative operating methods you can adopt easily and without any fanfare. If you are not already online, you can add an ‘Online’ component to your business and allow customers to purchase for any product or service they want directly online and pay in real time. You could also adopt a ‘Telephonic’ business operating method. This allows you to maintain a near identical business to the ‘credit card guarantee’ method; the only difference is that you secure the sale by collecting a payment through a secure interactive voice payment processing solution. 

Sign up for CCAvenue, the Online Payment Gateway solution and/or CCAvenue PhonePay, the Interactive Voice Payment Processing solution are operate past January 1st, 2011 without any losses in revenue.   

P.S. CCAvenue PhonePay comes free of cost to you if you register for CCAvenue online payment gateway only an additional per transaction charge of 0.5% + Service Tax over and above the credit card and cash card transaction charges, applicable for your CCAvenue® account.


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