Now, you can shop without giving credit or debit card details!

Sasta · Sep 12, 2014

http://www.thehindubusinessline.com...edit-or-debit-card-details/article6404573.ece

MUMBAI, SEPT 12:
Now, you can shop at online retail stores without revealing your Internet banking password and credit or debit card details while making purchases.

Electronic payment and transaction processing solutions provider Euronet will now provide bank customers with a digital code, which can enable them to make online purchases without disclosing their debit or credit card details or log in to the net banking.

“The customer can buy a digital code online or in the retail market across the counter and there is an SMS or the physical card, which acts as a store of value card or currency card which is then activated at the merchant bill,” said Himanshu Pujara, MD, Euronet Services India.

Similar to a gift card, customers can procure a digital code for a particular denomination amount from the bank’s Web site. This code will be sent as an SMS or email to you or the beneficiary. Currently, such a facility is available on mobile top ups and DTH recharges with close to a million transactions per day.

In value terms, for Euronet, top-ups average Rs. 120 per day through banks and Rs. 60 per transaction through DTH retailers and telecom companies.

However, this facility demands an upfront payment of the denomination you choose and is instantly debited from your bank account when you procure the code. This code is valid for a period of 3 to 6 months depending on the arrangement with the e-commerce firms such as Flipkart, Snapdeal, Amazon, etc.

In addition, the digital code is not inter-operable thereby limiting the usage of the digital code to just one e-commerce firm.

For this, Euronet is in the process of going live within six weeks with an e-commerce firm and a private sector bank for distribution on whose digital channel this will be available.

“Since India is growing, indicators suggest we are ready for this, but volumes need to be seen. Also, competition is huge so we are trying to work on the differentiation, margins, integration with e-commerce firms and attempting to tie-up with local brands too,” Pujara added.
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sam4deals · Sep 15, 2014

good news will provide more security for users

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Now, you can shop without giving credit or debit card details!

Sasta Well-Known Member

sam4deals Well-Known Member

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Now, you can shop without giving credit or debit card details!

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