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2002 |
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October
10, 2002 * Instant Real Time Credit Card Payments for Indian Exporters
Exporters of Indian products and services now
have a new and unique avenue for the collection of their export
proceeds. ResAvenue
can enable any Indian exporter to accept credit card payment,
through Visa, MasterCard, American Express, Diners Club & Citibank
E-Cards, from overseas buyers via the Internet.
With ResAvenue's
"Collect Bill Payment" pre-configured and customized Internet
enabled software, exporters can send an electronic invoice to
their buyers by email, with a specifically embedded, tamper proof,
payment link, which when clicked by the foreign buyer, will prompt
him to enter his credit card data directly on a Verisign secure
SSL page, provided by Citibank N. A and ICICI Bank Limited. The
buyer can then enter his choice of credit card i.e. Visa, MasterCard,
American Express, Diners Club or Citibank E-Cards; get real time
confirmation of the success of the transaction as well as an email
from ResAvenue.
Indian exporters who exhibit abroad, can now process secure real
time credit card transactions anywhere in the world, with guaranteed
payments back home in Indian Rupees. The ResAvenue
VIRTUAL TERMINAL is a pre-configured and customized software that
can be kept continuously on during the trade fair hours, so that
trade visitors and customers both can purchase products from the
exporters stall and pay for them using their Visa, MasterCard,
American Express, Diners Club or Citibank E-Cards; get real time
confirmation of the success of the transaction as well as an email
from ResAvenue.
The software also generates an invoice for each transaction, which
can be printed or sent by email to the customer.
This greatly improves the exporters scope of sales as well as
reduces their risk of having to carry back and or exchange vast
sums of foreign currency. The system also maintains online accounting,
allowing the exporters head office to instantly monitor the exhibition
sales performance remotely in real time.
ResAvenue
processes a scheduled weekly payment by an INR cheque to the designated
account and office of the exporter in India. Exporters will also
be eligible for a certificate of foreign inward remittance (F.I.R.C.)
on a quarterly basis for all their overseas credit card transactions.
All that is required is access to a PC / laptop computer with
Internet connectivity and an account with Avenues (I) Private
Limited (www.ccavenue.com).
The RBI has clarified through various notifications that payments
received by exporters from a foreign buyer via a Credit Card are
an acceptable form of foreign inward remittance. The RBI has further
clarified that the foreign buyer need not be on a visit to India,
for such payments to be received.
ResAvenue.com
has priced its exporter services to suit the needs of both small
and large organizations.
a) Economy Account: This account type has specially been
created for low transaction frequency exporters 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%. 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
Exporters 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%. 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.
About ResAvenue
Established in the year 2001and headquartered in Mumbai, India,
ResAvenue
provides turnkey e-commerce solutions to hundreds of e-merchants
across India. ResAvenue
is the preferred Indian payment-processing service for e-commerce,
providing server-based payment solutions, enabling merchants to
process secure transactions in real time, 24 hours a day. The
company's service is powered by proprietary technology that integrates
online payment processing, fraud control, financial reporting
and tracking. ResAvenue's
Payment Solutions process credit cards and net banking transactions
and work with any business model, including Internet call centers
and retail. ResAvenue
has also formed strategic alliances with leading financial institutions
and technology partners to deliver the most comprehensive online
authorisation and processing services available to Indian eMerchants.
ResAvenue,
today provides turnkey e-commerce solutions to more than five
hundred e-merchants across India including major portals belonging
to Union Ministry of Information Technology, I.L. & F.S., Baidyanath
Group, Vakils, Kalnirnay, Oxford Book Store, IndiaInfo.com and
the Shree SiddhiVinayak Ganapati Temple Trust. ResAvenue's
secure, complete and leading-edge payment services maximize growth
at every stage of a merchant's business lifecycle. For more information
about ResAvenue,
visit the company on the world wide web at www.CCAvenue.com
or call (022)-26000816/46 and 26491524.
