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Press Room |
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.
CCAvenue 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 CCAvenue'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 CCavenue.
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 CCAvenue 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 Ccavenue. 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.
CCAvenue 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.
CCAvenue.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 Avenues
Avenues is a profitable, debt-free company and currently services thousands of eMerchants worldwide through its solutions www.CCAvenue.com, www.ResAvenue.com, www.EventAvenue.com, www.MembersAvenue.com, www.TrustAvenue.com, www.BpoAvenue.com. It is the largest integrated eCommerce solutions provider in South Asia. Avenues has shown revenue growth and profit growth consistently, year on year. Avenues is incorporated in India, and has offices in Singapore, Hong Kong, and USA. The Avenues support and development center is based in Mumbai, India. The total strength of the Avenues team is currently 120 personnel, spanning across all disciplines. For more information, log onto: www.Avenues.info
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