TimesofMoney has launched DirecPay is a bank neutral payments aggregator service for merchants to facilitate online shopping and act as a single interface between customer, bank and the merchant. DirecPay supports credit cards, debit cards and net banking transactional capabilities across a spectrum of banks & credit cards. Direcpay has a tie up with over 20 banks for net banking and currently accepts Visa, Master and Diner’s club cards. Direcpay was in the news for tying up with Google adwords even before the officially launched their product to public.
We have blogged about earlier of how ecommerce is critical for the rise of online advertising. But what is critical for ecommerce is better and robust payment gateway’s that enable users to use their cards for online transactions. The popular providers of payment gateways that I know of are CCAvenue and Transecute. Ofcourse banks themselves provide this service too.
What is important to note is that TimesofMoney had earlier launched Wallet365 which was an ewallet (much like paypal) but had run into trouble with the RBI. With the RBI now getting more comfortable with the idea of e-payments (It recently drafted an approach paper for pre paid payments instruments) its very possible that Wallet 365 could return. Our sources confirm that in about 2 months Wallet365 could be relaunched. If that is the case then payments to merchant who use direcpay can be done via a users ewallet now that would be something to watch out for if and when it happens.