ISSN : 0976-8491(Online) | ISSN : 2229-4333(Print)

IJCST Vol. 2, ISSue 4, oCT. - DeC. 2011

The Comparative Study of Different E-Commerce Payment Gateways

1 1

Jagannath, University Jaipur, India 2Open learning Delhi University, Delhi, India
Abstract E-commerce payment gateway is the access point to the online banking network. All online transactions must pass through a payment gateway to be processed. The payment gateways act as a bridge between the users website and the financial institutions that process the transaction. Gateways process the different transactions between user and web browser. A payment gateway authenticates and routes payment. In this paper we have focused on different e-commerce payment gateways, and also have a deep comparative study, analysis of different online Gateways. An Internet e-commerce payment gateway is a critical infrastructural component to ensure that such transactions occur without any hitches and in total security over electronic networks. Keywords Ecommerce payment Gateways, CCAvenue Gateway, Paypal, DirecPay, EBS, ABC Payments, HDFC , ICICI Payseal, Transecute Gateway. Comparison of Different Payment Gateways The criteria that are important while evaluating a payment gateway: In this paper we have described comparative study of different e-commerce payment systems which are: 1. CCAvenue Gateway 2. Paypal Gateway 3. DirecPay Gateway 4. EBS Gateway 5. ABC Payments Gateway 6. HDFC Gateway 7. ICICI Payseal Gateway 8. Transecute Gateway Different criteria and services are described below through the comparative study of payment gateways .All these payment gateways focus on different factors as security, cost, support, dispute resolution, international payments, transaction time, supported banks and tools and features. These are shown below in tabulation representation.

Kavita, 2Dr. U.S. Pandey

S. No

Gat eways

Security

Cost

Customer Care & Support

Dispute Resolution

Processing through International Payments

Real-time & Transaction Time Reporting

Support for Multiple Banks

Tools and Features Offered

CCAvenue Gateway

1.Security firewall 2. Risk management tools 3. Fraud Filters

1. Rs 7,500 as onetime non -refundable set up fees 2. with 7% transaction fees for cards or 3. 4% transaction fees for net banking and mobile payments + Rs 1200 as annual maintenance charge

1. Commerce service provider, 2. Real Time Transactions and response 3. Provide Technical support 4. Support for net banking transactions 5. Support 24*7

1. Streamline dispute resolution processes through the use of automated tools to prevent invalid exception items.

VISA, MASTER CARD, AMERICAN EXPRESS, DINERS CLUB JCB CARDS CITY BANK ECARDS, DISCOVER NOVUS, CARTE BLANCHE,

1. Optimum transaction time : The transaction is completed between 30 seconds and a minute. 2. This enables the websites to transact and accept payments online and in real time

1. HDFC 2.Bank of Rajasthan 3. ICICI 4.Kotak 5.Citibank 6.Oriental Bank of Commerce 7. Axis 8. Jammu & Kashmir 9. IDBI 10.Corporation Bank 11.Standard chartered Bank 16.Centurian Bank of Punjab 17.State Banks 18.HSBC 19. Union Bank of India 20. Punjab National Bank etc.

1. credit cards, debit cards, net banking, mobile payments, cash cards 2. Debit Card Accepted as: VISA , MASTER CARD 3. Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

w w w. i j c s t. c o m

InternatIonal Journal of Computer SCIenCe & teChnology

61

IJCST Vol. 2, ISSue 4, oCT. - DeC. 2011

ISSN : 0976-8491 (Online) | ISSN : 2229-4333(Print)

Paypal Gateway

1. Dual Privacy 2. security Key System 3.Data Encryption 4. Transaction monitoring 5. Safer and Faster

PayPal is FREE and protects your purchases

1. Online support 2. Multi currency support 3. PayPals support staff is organized into departments that specialize in specific customer concerns. 4.PayPal Merchant Technical Support is ready to assist with integrating PayPal on website. 1.One Stop Solution 2. Multi Currency 3.Quick Settlement 4.Simple Integration 5. Services support cost-effective, cover a wide range of payment acceptance modes and rest on a robust technology platform. 24*7 support

1.Most carefully resolve transaction disputes 2.The PayPal Resolution Center enables you to resolve transaction issues before they become larger problems

VISA, MASTER CARD, AMERICAN EXPRESS, / EUROCARD MAESTRO

1. Fast and Trustworthy 2. Ideal for online auctioneers 3. The new e-transfer process takes less than a week to process a check

1.HDFC Bank, 2 ICICI Bank, 3 ING VYSYA Bank, 4. Axis Bank (formerly UTI Bank), 5.Standard Chartered Bank, 6. State Bank Of India, 7. Bank Of India, 8.Canara Bank, 9 Union Bank of India, 10 HSBC 11 Citibank India.

1.Product Features : Credit Cards 2. No Debit Card Accepted 2. Additional Features : Currency conversion fee - 2.5% added to the exchange rate 3. Debit cards (also known as bank cards) are accepted if they have a Visa or MasterCard logo.

DirecPay Gateway

1. SSL Technology Used 2. Secure Data Encryption 3. verisign 128 bit SSL ,IP connection and encryption tool 4. PCI Certified

Charges: Rs 30,000 set up charge + 7% transaction fees + annual maintenance charge

1.DirecPay platform is mapped against a negative database which is continuously compiled and updated 2 .It resolve the disputes 3. VeriSign secure, making it robust and free from internet dangers like phishing.

VISA MASTER CARD DINERS CARD

1.Fast, reliable and secure passage for transaction data 2. Transaction status gives response back as message allert

1.ICICI, 2.HDFC, 3.Citibank 4. State Bank of India.

1. Credit cards, Internet banking. Mobile banking 2. Around 51 Debit Cards Accepted 2. Online shopping, Travel portals, educational institutions, equity broking 1.Product Features : credit cards, debit cards, net banking 2.No Debit Card Accepted 3. Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

EBS Gateway

1. Risk Monitoring 2. Highest Security PCI DSS 1.1 3.verisign 128 bit SSL Technology 4. Security Firewall Used

Rs 6000 as setup fees and 6% transaction fees + Rs 2400 annual maintenance charge.

1.Risk Detection 2. Excellent Technical & Transaction Support Service 3. Risk Monitoring on an ongoing basis, Smooth reconciliation, Multiple Payment Options

1. It reduces the amount of time spent researching customer inquiries; and 2. Secondly, it reduces the occurrence of charge back disputes

VISA MASTER CARD DINERS CARD ITZ CASH CARD

1. It usually takes between 3 and 7 seconds for transaction response 2. Transactions on real time

HDFC CITY Bank Axis Bank ICICI Bank, Deutsche Bank, Karur Vysya Bank, State Bank of India, Indian Overseas Bank, ING Vysya, Corporation Bank

62

InternatIonal Journal of Computer SCIenCe & teChnology

w w w. i j c s t. c o m

ISSN : 0976-8491(Online) | ISSN : 2229-4333(Print) 1.Ease integration 2.Multi Currency Support 3.Online Technical Support 4. Offline Technical Support 5. Risk Minimization: If any transaction is perceived as a High-Risk Transaction an immediate alert email is sent to the Sub-Merchant 6. Email alerts for suspect transactions 7. Support 24*7 1. It support An userfriendly interface 2. Real Time Risk Management 3. Automated Reconciliation Support 4. Integration of SCM module 5. Full Backend 24 hours Support

IJCST Vol. 2, ISSue 4, oCT. - DeC. 2011

ABC Payments Gateway

1. Risk management system controls 2.Secure Data encryption 3. 128 bit SSL encryption security 4. Certified secured 5. SSL technology with newest security protocols

1.setup cost Rupees 7,000+7% transaction fees 2.Startup cost: 1000028000

1. User receive the parameters / data in either case of transaction process ending successfully or failing up due to many reasons, including wrong entry of credit card number and so on. 2. It Resolve disputes through expertise and provide maximum satisfactions.

VISA MASTER CARD DINERS CARD

1. Less processing Time. 2. Real time Response means Quick transaction response

ICICI Bank HDFC Bank CITI Bank AXIS Bank IDBI Bank CBOP SBI (coming soon) PNB (coming soon)

1.Product Features : credit cards, net banking 2. Debit Card Accepted 3. Additional Features : Live Chat, shopping cart ready, instant SMS, email, Detailed reports

HDFC Gateway

1. Secure Firewalls 2. 128 bit encryption 3. Intrusion detection and prevention systems 4. SET Certification for digital signature

1. Startup Cost : 10000 50000 2. Transaction cost : 3.5% 6% 3. Security deposit : 50000 depends on Due Diligence

It resolve disputes 2. Responsive and Trustee service

VISA MASTER CARD HDFC NET -BANKING

1.Secured and Easy Transaction Process 2. Real Time Basis Response

HDFC Bank Payment Gateway provides a single platform to support multiple payment technologies

1. Product Features : Credit Cards and HDFC Netbanking 2. Debit Card Accepted 3. Additional Features : Email and Telephonic support available

ICICI Payseal Gateway

1. Offers 128-bit SSL encryption 2. 280 bit RSA before passing it through an SSL pipe using 128-bit encryption. 3. Uses a stronghold web server 4. Extensive security firewalls

Charges: Rs. 40,000 as setup fees and 5% as transaction fees.

1. Optimum Server Utilization 2. Centralized and secure data management Support 3. Highly scalable and reliable Support 4. Efficient Administration 5. Support 24*7

1.It Resolve Disputes 2. Administration module facilitates extensive MIS reporting and monitoring of transactions conducted via the gateway Merchant

VISA MASTER CARD ICICI NET -BANKING

1. The transaction information is quickly transmitted to the merchant server. 2. Fast and Easy Transaction it takes 10-15 seconds in transaction report through web server 3. Transaction Process in Real time.

ICICI Provide Single Platform for all payment gateways

1. Product Features : Credit Cards, ICICI Netbanking 2. Debit Card Accepted 3. Additional Features : Needs java support for your website.

w w w. i j c s t. c o m

InternatIonal Journal of Computer SCIenCe & teChnology

63

IJCST Vol. 2, ISSue 4, oCT. - DeC. 2011 1. It provide the Proof of Delivery 2. It check High value Transaction Process 3. It maintains daily Transecute Risk Mitigation and Fraud Report 4. This Report contains alerts on various transactions that are perceived to be risky by our heuristic fraud detection software. 5. Through manually check these transactions create minimise chargeback risk

ISSN : 0976-8491 (Online) | ISSN : 2229-4333(Print)

Transecute Gateway

1. 128 bit SSL Certificate 2. use a symmetric key based checksum algorithm to exchange data 3. Advanced Heuristic Fraud Pattern Matching and detection engine 4. Fraud Detection and Risk Mitigation 5. End to end security

1. Setup charges: Rupees 30,000. 2. Transaction charges: 5% per transaction. 3. Chargeback Fee: Rupees 10 per transaction.

1. Transaction Support 2. Multicurrency Support 3. Instant Fraud Alert Mails for risky Transactions 4. Support 24*7 5. No expensive encryption required 6. Technical Support Lifetime Free

VISA MASTER CARD

1. The typical integration time is less than an hour to get online and live 2. Transecute Merchant Transaction Reversals Merchants can reverse transactions from this interface. 3. Real Time Credit Card Response

1. It Provide Single Platform for all payment gateways 2. No bank payment Accepted

1. Transecute supports all VISA/ Master Card transactions, and also Amex, Discover, Novus, Bank Accounts, e-checks, multiple currencies 2. No Debit Card Accepted 3. Transecute is also the only Gateway to allow Anytime Withdrawal of your balance.

Analysis This below graph shows the various factors of different payment gateways. This graph differentiate here different payment gateways with various factors through the different colors. So according to this analysis we can easily understand that which is best option for the user.

64

InternatIonal Journal of Computer SCIenCe & teChnology

w w w. i j c s t. c o m

ISSN : 0976-8491(Online) | ISSN : 2229-4333(Print)

IJCST Vol. 2, ISSue 4, oCT. - DeC. 2011

Conclusion and Future Work Through above comparative study of different gateways user can access it easily and he can take decision that which e-commerce payment is better for him because people wants a user friendly payment gateway which should be easy to use and easy to access. These payment systems with comparative study are useful for users because some people dont know about payment gateways so they can get knowledge about it and after using gateways they feel trustee it. It is also necessary in payment system that assures privacy in the payments like bank accounts and there should be a way of identifying the customers bank accounts and the merchant bank accounts. References [1] Case-Study-of-ECommerce-Payment-System, [Online] Available: http:// www. scribd.com/doc/14817254 [2] [Online] Available: http:// www.creditcard-paymentgateways.in/ccavenue-frequently-asked-questionsfaq html. [3] Direct Pay, [Online] Available: http://www. time-sof-money. com/direcpay/jsp/home.jsp [4] [Online] Available: http://EBS www.ebs.in/why-ebs.php [5] [Online] Available: http:// http://www.sendmoneyindia .org/ ayment- gateways -in-india.php [6] ABCPayment gateway, [Online] Available: http:// www. abcpayments.com [7] HDFC, [Online] Available: https://www.adwebtech.com/ epayments.html [8] Cost, [Online] Available: http://www.techbizpeople.com/ blog/tag/hdfc-payment-gateway/ [9] [Online] Available: http://www.transecute.com [10] HDFC Gateway, [Online] Available: http:// www.hdfcbank. com [11] [Online] Available: http:// www.icicibank.com [12] Ailya Izhar, Aihab Khan, Malik Sikandar, Hayat khiyal, Wajeeh javed, Shiraz baig," Designing And Implementation Of Electronic Payment Gateway For Developing Countries Journal of theoretical and applied information technology". [13] CCAvenue gateway, [Online] Available: http:// w.w.w.CCAvenue.com [14] [Online] Available: http://Icicigatewaywww.payseal.com [15] Payple gateway, [Online] Available: http:// www.payple. com

Kavita (Ph.D Pursuing) and she received her M.C.A degree in computer science from Modi Institute of technology and Science Lakshmangarh. she is an Assistant Professor in Jagan Nath University Jaipur . She has four years of teaching experience in the field of Computer Science. Kavita has got published of research papers in the National and International Conferences, and International Journals.

Dr. U S Pandey, Ph.D (Computer Science) is an Associate Professor in School of Open Learning, University of Delhi, Delhi. He has Twenty years of teaching experience in the field of Computer Science and supervising many research scholars in the field of Mobile Commerce, Artificial Intelligence, Expert System, Data Warehouse, Data Mining, e-learning and e-governance. Dr. Pandey has got published two books and diverse a range of research papers to his credit in the National and International Journals of repute. Dr. Pandey has worked as Professor & Director of VIPS affiliated to GGSIP University Delhi.
w w w. i j c s t. c o m InternatIonal Journal of Computer SCIenCe & teChnology

65