e-Commerce retailer Flipkart launched its online
payments solution, PayZippy, here earlier this week. Though currently
it’s available only to merchants, the consumer-facing product that’s on
the anvil will allow customers to save their card details and make easy
transactions through their gateway.
But what the
Flipkart subsidiary, Flipkart Payment Gateway Services (FPGS) Ltd., has
in the pipeline is a prepaid wallet service that allows consumers to
shop anywhere on the internet, Mekin Maheswari, Head of Payments and
Digital Media, told The Hindu. When asked about government
sanctions for setting up such a service, he said that they were in the
process of “obtaining requisite clearances from authorities.” More
specifically, it is getting clearance from the regulatory authority,
Reserve Bank of India.
“We need permissions and
clearances to be able to be issuers or prepaid balance. However, these
clearances are not needed for what the current service is offering,” Mr.
Maheswari added.
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