Avenues Online Payment Processing Solution

ResAvenue.com, is India's first and only, neutral online payment processing service, which enables your website to accept payment through all major International & Indian credit card brands, (including those cards restricted for use as "Valid only in India and Nepal"), as well as all major Internet enabled Indian bank accounts.

Now you can enable online payment collection on your website, for a small one time cost of only Rs 5,000 (and an annual fee of Rs 1,200). You may accept all the following credit cards i.e. VISA, MasterCard, American Express, Diners Club International, JCB & Citibank e-cards. ResAvenue has integrated two credit card processing gateways' into its platform (ICICI PaySeal & Citibank), which ensures that your Visa & MasterCard transactions can always be processed in the event of gateway failure.

For your customers in India who may prefer to pay using their Internet enabled bank account, your web-site could collect payment from customers of these banks: Citibank, ICICI Infinity, IDBI Bank, HDFC Bank, UTI Bank, Centurion Bank and Global Trust Bank.

ResAvenue has e-enabled hundreds of Indian web sites. A partial list may be viewed at http://www.ccavenue.com/overview_ccav.jsp

ResAvenue has been approved as a Super/Master Merchant by all of the above financial institutions

Any merchant who signs up with ResAvenue does not require to open a new bank account. He can continue to use the same bank account he uses for other business transactions. His entire sign-up process is online. Even integration fees may be paid online.

ResAvenue.com has priced its services to suit the needs to two identified business options: -

a) Economy Account: This account type has specially been created for low transaction frequency web sites or merchants who are testing the waters. A one-time integration fee (non-refundable) of Rs 5,000/- is charged and each credit card transaction bears a discount rate of 7%. Net Banking transactions bear a discount rate of 4% only. An annual software upgrades charge of only Rs.1200/- payable on 1st April, every year, is also applicable.

b) Premium Account: This account is preferred by established Merchants who have or expect to have a large number of Internet transactions. A one-time integration fee (non-refundable) of Rs 20,000/- is charged and each credit card transaction bears a discount rate of only 5%. Net Banking transactions bear a discount rate of only 4% only. An annual software upgrades charge of Rs.2400/- payable on 1st April, every year, is also applicable

Account holders in both of the above schemes are provided the same services. The only difference is the Transaction Discount Rate on Credit Cards, which is 5% for premium account holders and 7% for economy account holders.

Transaction Security and Fraud Prevention:

Verisign 128 bit SSL security forms the core of the ResAvenue solution. The credit card, in its current form, was never specially built for the Internet. In the physical world, where credentials can be verified, doing business with a credit card has almost the same risk as doing business in cash. The equation on the Internet changes dramatically. As a medium that offers 100% anonymity, Internet fraud and charge-back issues are the nightmare of every e-merchant globally. ResAvenue has installed products and processes to pre-empt credit card fraud and advice merchants how to forestall charge backs. We have a team of experts who review each transaction within a set of parameters. On suspicion make an attempt to undertake physical verification as well as use techniques and access to files offered by reputed financial institutions like ICICI Bank Ltd and Citibank. We use advanced options like authorize and capture (http://www.ccavenue.com/authorize.jsp)as well as C.V.V (Credit Card Verification Value (http://www.ccavenue.com/cvm.htm)to reduce the incidence of charge-back and fraud. For further information please visit our website (http://www.ccavenue.com/security.jsp)

ResAvenue shall also be shortly implementing the Visa 3D secure protocol; this new initiative by VISA will reduce e-commerce transaction fraud by 90%.

Some of the value added services available to ResAvenue Merchants:

a) Online transaction accounting module: A comprehensive transaction completion and reporting feature with transaction and customer analysis with the option of receiving an order alert by SMS on your designated mobile telephone numbers.

b) Online Chat support with ResAvenue Customer Service Agents is available on MSN Messenger from 1030 - 1800 IST every working day.

c) Support for Auction Payments & Bill Collection: After the auction period is over, a merchant can send a unique bill or an auction completion email with a payment link to any buyer/ successful bidder of an auction completed on the merchant's site or anywhere else. This is compatible with www.ebay.com , www.baazee.com and auctions on www.indiatimes.com . Similarly if you have arrived at a negotiated price with your customer you can send him an email invoice with an embedded collection link which will allow him to make a direct online payment to you without having to visit your web-site.

d) Use our free custom made shopping cart: A merchant need not develop his own shopping cart. We have a ready in built advanced shopping cart with all the features at absolutely no additional cost to the merchant. This shopping cart can be customised to your websites' look and feel. A brand new E-commerce site can now be made and be accessible worldwide within hours.

e) Use any shopping cart of your own: If your website already has a shopping cart, you can use our variable amount interface.

f) Manual Authorization Request: Any merchant who wants a manual authorization for a particular / high value transaction can request us to ask a buyer for additional documentation and proof of identity to ensure non-repudiation of the transaction.

g) ResAvenue Provides an F.I.R.C: All merchants who process overseas transactions through ResAvenue are entitles for a Foreign Inward Remittance Certificate. This certificate will help exporters of goods and services to claim benefits under the income tax act as well as act as a proof of foreign inward remittance for closing export transactions.

h) Marketing and Merchandising support: ResAvenue merchants will get unique opportunities to promote their products in joint marketing efforts with financial institutions as well as credit card issuing banks like Citibank which itself has data base of 1 lakh eighty thousand premium customers.

For further information on our services please visit www. ResAvenue.com. Frequently Asked Questions on technical and operational issues as well as a glossary of e-commerce terms may be accessed at http://www.resavenue.com/faq/faq_resav.jsp


( Download the article)