IndiaMART Launches ABCpayments.com

New Delhi, 4th February 2005 – IndiaMARTIndia’s largest B2B Marketplace has announced the launch of ABCpayments.com, a global online payment gateway service that facilitates authentic and secure online transactions between buyers and sellers from all across the globe.

Commenting on the launch Mr. Dinesh Agarwal, CEO of IndiaMART InterMESH Ltd., said, “ABCpayments.com will facilitate the process of online transactions by providing multiple, secure payment options to buyers & sellers. It has been developed as a solution rather than a standard product to address the issues of security & online fraud. We shall offer personalized assistance to sellers along with fraud detection tools to address the genuine concerns of businesses, which remain unfulfilled by any existing payment gateway service.”

ABCpayments.com is an end-to-end integrated e-commerce solution that aims at enhancing online transactions by addressing the concerns of buyers and sellers. This is one-stop, multiple payments facilitation service that enables the sellers to setup complete e-business and accept online payments through all major credit cards and various Indian banks directly to their bank accounts.

ABCpayments.com has joined hands with business partners like CITIBANK, ICICI, UTI, Bank of Punjab, HDFC and IDBI, in order to offer single platform, multiple payment options. It allows the sellers to offer unmatched flexibility to their buyers minus the hassles of technical integration with multiple payment options.

According to IndiaMART, ABCpayments.com is the only plug-n-play e-commerce solution of its kind in India with the following outstanding features:

  • Personalized assistance throughout the e-commerce process
  • Fraud detection tools
  • Highly secure – 128 bit SSL encryption
  • Multi currency support
  • Nominal one time setup cost
  • Online merchant e-commerce software suite
  • All major payment modes accepted
  • Online and offline technical support
  • No special software to be installed on merchant server
  • Compatible with all third-party shopping carts

Mr. Gaurav Sethi, Director – Ashoka Holidays, tours and hotel reservations facilitator, shared his experience with ABCpayments.com – “A perfect solution for mid-size companies like us, having user-friendly interface and personalized customer support. Clear system checks also ensure that you do not get trapped into the growing credit card thefts domain”.

It is also powered with a latest technology – “Order Tracer” – from which one can trace the charge on the credit card. In today’s wired world security of money in online payments is the biggest concern. ABCpayments.com has the answer to all security needs of its merchants and sub-merchants as it is equipped with 128 bit SSL encryption and the world’s most advanced Suspect Alert & Risk Minimization System. ABCpayments.com is the online transaction solution with flexible capabilities to suit the requirements of its customers.

Presenting ABCpayments.com to the media Mr. Brijesh Agarwal, COO, said, “Our pilot survey and test run conducted in last 6 months has been a great success and we have really improved upon various quality and security related issues. We have tried to remove every technical hassle and make it the easiest e-commerce solution. Currently we route transactions worth Rs. 50 lacs per month and expect to touch Rs. 2-3 crore per month figure by the end of 2005”

One of our client from Kolkata who is the seller of musical instruments, Mr. Suvojit Pakrashi, Managing Partner – Pakrashi & Co. says – “Online transactions is a commonly desired facility of our global customers. ABCpayments.com has really helped us become truly global by offering a mechanism through which we reach out to our customers directly. In other words joining hands with ABCpayments.com has really helped us increase our export sales as we gear to promote ourselves internationally.

ABCpayments.com offers a complete e-commerce software suite. Some of the notable modules are:

  • Invoice Management Solution
  • QuickPay Terminal
  • EasyPay Site Integration
  • Shopping Cart System
  • Order Management System

Talking on the target markets for ABCpayments.com Mr. Amit Jain, Head – e-business, said, “We are initially targeting our existing client base of 6000 members and rest 50 thousand prospective SMEs that constitute an untapped, scattered and un-organised sector. These companies have been into traditional export and sampling business for long but could not use e-commerce because of limited resources and technical integration hassles. Our solution addresses both these issues and offers an array of value added services.”