Flipkart closing its Payment Gateway PayZippy; Invests in Ngpay

Indian e-commerce website, Flipkart is closing down its payment gateway business Payzippy, as it neglected to perform as per the organization's desires, says a report from Livemint,. The online retailer has propelled this different firm Flipkart Payment Gateway Services (FPGS) Pvt Ltd a year prior to give payment answers for traders. Flipkart launched PayZippy in July last year to compete with services such as CCAvenue and Paytm.

Additionally, Flipkart has made a "strategic speculation" in Ngpay (Jigrahak Mobility Solutions Pvt Ltd), a payment administration and a commercial center that presented mobile payments in India.

Ngpay seems to have a reasonably far reaching versatile application based marketplace, offering ticketing from IRCTC, numerous bus travel services, flight tickets, apart from recharging and top-ups, cinemas and event tickets. Payments are permitted through Mastercard, Visa, Maestro and American Express. I simply needed ngpay, and was informed that I'm its 3,850,027th client. It had raised $2.2 million from Helion Venture Partners in 2006.

A Flipkart representative additionally said in an email proclamation to Medianama that, "Payments is center to Flipkart and we see this association offering ascent to the biggest portable payments mark in India. While we eliminate our own particular payments item, Payzippy, nothing changes for our clients, who will keep on appreciating all the profits of a sheltered and secure payment framework through Flipkart.com."

As of now, Payzippy's website is still live and other e-commerce organizations like Babyoye, Bluestone, Lenskart, Makemytrip, Yepme, Zansaar and so on are utilizing its administrations. The definite date for the closure of the administrations isn't unveiled.

Flipkart had additionally attempted to make Payzippy wallet work. While the payment gateway was a B2b item, the wallet was intended to be purchaser confronting, and will presumably run down with the gateway too.