Flipkart was established in 2007 by Sachin Bansal and Binny Bansal, both alumni of the Indian Institute of Technology Delhi.
Flipkart.com, India’s largest eFlipkart is among the top 30 Indian web sites and has been commerce player in physical products credited with being India's largest online bookseller with over 11acquired Letsbuy, the second largest million titles on offer. retailer in electronics. With this move, Flipkart firmly The store started with selling books and in 2010 branched out to established itself as the leader in the selling : consumer electronic space
CDs, DVDs, mobile phones & accessories, cameras, computers, computer accessories and peripherals, pens & office supplies, other electronic items such as home appliances, kitchen appliances, personal care gadgets, health care products etc
real Flipkart’s achievement has been in solving
the pain points in Indian eCommerce that most well funded players are still complaining about.
Discoverabi l ia y m e n t s P ty
Gift Vouchers ?
How do IInternet banking make payments for aOn Cash Delivery (COD) Flipkart purchase e.
Cash On Delivery (COD)
All major credit/ debit cards are accepted Is done automatically by software packaged with electronic commerce software. SSL encryption International cards not accepted
500 EMI processing fee charge
Only ICICI.Two types of schemes:
• No processing fee charge
• A flat Rs. HDFC & CITIBANK
Cash On Delivery (COD)
.Internet banking (or E-banking) means any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. AXIS. BOI.
Flipkart.com The system is updated has tie-ups with immediately after every a number of transaction automatically banks like ABN AMRO.
like ‘hackers’ accessing your bank accounts Original setup for bill paying time is time-consuming but will ultimately be a time-saver
. or personal loans Receive investment product and Need an account with an Internet Service Provider (ISP) Security concerns.Advantages / disadvantages
Check account balances and track recent account activity Transfer money between accounts Issue stop payment requests Apply for auto. mortgage. home equity. student.
Services can be offered at a miniscule cost.
It isn't bound by operational timings.It is convenient. There are no geographical barriers.
3rd party players typically have lesser requirements.For high volume players
Two types of players in this field
Lower TDR Lower Setup fees
Bank itself providing its own payment gateway (like ICICI payseal)
Low setup fees TDR as high as 7 % Banks need lots and lots of paperwork.
3rd party service like Ccavenue which ties up with many banks
. and integration time is usually more than 2 weeks.
Uses secure servers throughout and adopts stringent security measures
Customers enter all their personal information and Credit Card details on e.payments and the same is encrypted before it is transmitted over the Internet to the Acquiring Banks
CCAvenue’s server is behind security firewalls to ensure maximum protection of your customer’s
Offers variety of payment options which no other player come even close. Reliable . They don't offer any custom plan other than the ones mentioned on their site
. They are also the most expensive in the industry.The Process
The biggest 3rd party player in India.
Cash On Delivery (COD)
Cash payment to the courier partner only at the time of delivery
Captcha texts for validation Maximum order Rs.000 E.gift vouchers can’t be used
Internet banking Cash On Delivery (COD)
The Wallet is a prepaid instrument that enables one to shop on Flipkart.
. 10.000. The total balance in the Wallet (irrespective of the source) will always be available for redemption.
Make one payment and shop multiple times
Simpler and faster checkout process
No more worries of failed payment transactions When you make an order. you can choose to use the Wallet as the mode of payment and the amount will be deducted from the balance in your Wallet.com multiple times by making a payment only ONCE The upper limit on each Wallet refill is Rs.
As of 2nd February 2012. once you have purchased balance for your wallet. Going forward. the Refunds Policy for the Wallet has been slightly modified. the entire balance in the wallet was fully refundable. the Topped-Up balance in the Wallet will not be refundable starting 2nd February 2012. As per the earlier policy. it will only be redeemable against a purchase and not a refund.
All other terms with respect to the wallet remain the
. Under the updated policy.
IS IT SAFE ???
. Repeat transaction failures.No credit card/internet banking Fear to transact online.
Auto redirection to banking site
• Flipkart never lands you on CCavenue page.
overcome these? Banks Status
• Flipkart maintains its own real time status if the bank’s netbanking is working or not
. you are auto redirected to the banks page where the info is required to be filled • By-passes one unnecessary page by passing the required parameters directly to CCavenue What does Flipkart do to and not through a user interface.
Flipkart and their trusted payment gateways use SSL encryption technology to protect your card information.
Secure Sockets Layer (SSL)
Cryptographic system that uses two keys to encrypt data a public key known to everyone and a private known only to recipient of the message.
Secure HTTP (S-HTTP)
S-HTTP is designed to transmit individual messages securely while SSL creates a secure connection between a client and a server over which any amount of data can be sent securely
Complementary rather than competing technologies.
one the most trusted technology.
Flipkart had atleast 4 different Payment Gateways integrated. They introduced Cash-onDelivery and order on phone.
Flipkart uses SSL encryption technology. Flipkart never lands you on 3rd party Website page (CCavenue) auto redirected to the banks page
Flipkart maintains its own real time status if the bank’s netbanking is working or not.
Potential for overall system being slower during transaction
They can include failure of technology. frauds and tracking of individuals Power failures at the time of transaction can create serious issues
b) Opportunity to decrease the use of paper cash by making system more secure and reliable.OPPORTUNITIES
Flipkart can use a tracking system for recording the behavior of consumers
c) Better feedback mechanism for Payment related queries can be a edge.
This business attracts competition and Flipkart one the first Indian Ecom website so it has created a model for others to enter in to the same business.
Lack of continuous updating can lead to failures as this is a technology driven business so continuous upgradation is required.
it is important to integrate with credit card gateways like AXIS/HDFC SUCCESS RATE IMPROVES
Heavy investment in Fraud Monitoring System to reduce liability
. as the grow.Aggregators like CCavenue are just intermediaries between bank/credit card processor and the merchant Removing this intermediary will improve payment success rate and reduce the commission charged So.