Priti Shah President ecommerce, EBS
E commerce industry is growing in India and hence the service providers. Payment Gateway is one of the important pillar of the eCommerce set up and this time iamwire has caught up with Priti Shah, President (eCommerce), EBS, third party solution provider. Priti spoke at length on various issues candidly. Here are the excerpts of the interview.
Recently you have seen lot of exuberance in ecommerce as companies are getting large funds with high valuation. So far, what are the positive repercussions ebs has experienced of this unprecedented influx of funds in the industry?
Like any other industry, Influx of funds is always a catalyst for ecommerce companies as well. Positive repercussions to list a few are dominant in areas of Marketing & Promotions, Up scaling of Talent & technology, Efficient customer Support, Economies of scale, Adding new Job opportunities, etc. all leading to a better user experience for a wider audience - Ultimately being a driver ecommerce to thrive.. India has an enormous untapped potential, waiting to be tapped and such forays create opportunities for all to exploit
We are proud to have been associated with the major ecommerce companies in India right from their startup days & living up to their expectations has helped us evolve with our unending quest to better our services.
To what extent payment gateways have been able to seed trust within e-shoppers?
First time Shoppers have always been found to be returning customers, especially if their first experience has been good. Heightened security, user friendly procedure, a smooth e-commerce experience, emboldened with prompt support have been the driving force which payment gateways provide as a silent performer. This would be evident from the fact that online payment have witnessed an exponential growth over the past 5 years, in India to grow from a few 100 crores to around 30000 crore industry
Tell us about ebs and its growth, vision and mission. How EBS and other third party payment solution providers in India are safe for online commerce?
EBS was cofounded in 2005 by Prabhu & Nishanth, two young first generation entrepreneurs who have their expertise in this field with a vast experience & a vision to offer safe, secure & affordable solutions in India. EBS pioneered Merchant Accounts vide all modes which has forced competitors to follow suit. We started very small way back with only one office where we now have 7 offices pan India. What drove us to here was passion towards this industry. EBS motto is to offer a seamless, secure, easy and simple solution to enable our merchants to have a smooth e-commerce experience. EBS has grown from 30 merchants in 2005 to 3000+ merchants today which itself speaks its growth about the niche, EBS has carved for itself.
Scalable solutions, Advanced risk management tools, Transparent policies, RBI & Card Association Compliances & expertise have made EBS the preferred choice for both - Banks & Customers. Regulation of Industry by RBI & Card associations & PCI have reinforced Third party solution providers in India to be adequately safe & secured. Banks verify the credentials to ensure required compliances are in place which further fortify the system.
EBS has a dedicated department offering Risk Management Solutions to the market with a proven track record of Industry lowest Fraud to chargeback ratio, consistently for the past 7 Years. This helps Merchants to focus on multiplying business rather over being preoccupied with Risk Monitoring. Renowned portals & Brands are using EBS Solutions for Risk Mitigation for processing their online transactions.
However our Mission is to endeavor is to profit by quality not quantity but from unmatched value services to merchants. EBS Vision is to provide a service oriented model to offer Indian merchants a professional, consultative & merchant centric payment processing solution
According to you what is the market size of overall payment gateways in online commerce in India?
We believe its around 18 k crore today and is yet rapidly expanding. It still has a lot of potential vis a vis developed markets around the globe. This is evident from the fact that majority of Indians are yet to be under ambit of this sector & a comparatively small percentage of Indians engage for online transactions today.
Nobody in India has established its image as the leading global payment gateway. Are you looking to expand globally or concentrate on capitalizing in the domestic market only?
We are already working on both aspects.
Which are the latest technologies (in last one year) you have put in place to curb online commerce more secure and hassle free?
We have introduced a better interface & payment page for smoother & user friendly customer experience offering multiple API with advanced risk management tools to curb fraud. Also our new version has helped merchants to garner online business growth vide our new features and comprehensive merchant backend module. We have also increased our array of payment options. Interestingly our fraud ratio has been lowest in the industry
Give us reasons why any ecommerce set up should choose ebs as payment gateway?
EBS Solutions are "Value for Money" offering Expertise & Experience offering Industry specific solutions encompassing:
- Affordable, Easy, Fast & Secure Online Payments
- 99.999% Uptime with wide Array of payment options
- User Friendly System with Highly Advanced features
- Compliance with RBI & Card Association Bye Laws
- Industry's Best Technology with effective Risk Mitigation
- Relentless support for Prompt Resolutions
- Prompt payouts & easy reconciliation of payments
Payment gateway's server is highly guarded from any possible hacking of data. However still there are vulnerabilities. Please comment.
As the associated information is confidential, the only comment I can make is that EBS has Mcafee Hackersafe certification which scans systems on a daily basis for vulnerabilities / Hacking.
What would be your suggestion to start ups that are looking for payment gateway for their payment options?
It is very important for any start up to have apt & scalable solution for a smooth eCommerce experience. The following points can be considered.
- Dependable with over 99% uptime, is fast & adequately secure offering multiple payment options
- Offers Easy, Simple & User friendly interface for you as well as your clients !
- Prompt payouts and Easy reconciliation with settlements to your Existing bank account
- Processes payments vide 256 Bit encryption & has an integrated Risk Management
- Prompt support is another essential to ensure a smooth E-commerce experience
With these ingredients, one is sure to experience success in their e-commerce Foray's.