Online payment service provider E-Billing Solutions (EBS) today said many people in the country don't feel comfortable about paying online and having to give away their credit card details.
"...many people in India still don't feel comfortable about paying online, giving away their credit card details," E-Billing Solutions Managing Director Laurent Dhaeyer told PTI.
He added that electronic commerce is definitely picking up in the country but most people prefer to use the cash on delivery (COD) option for making payments of goods instead of paying online.
"...an increasing part of ecommerce is actually going through COD (cash on delivery) for which no payment gateway is required," Dhaeyer said, adding payment gateway is only needed at the time of purchase through online methods like paying through credit cards.
According to estimates, online shopping in India which is at a nascent stage is poised to witness significant growth in the next few years, with the industry likely to touch USD 34.2 billion by 2015.
Asked about the growth rate for the company, Dhaeyer said,"We expect growth rate of e-commerce in the range of 40-50 per cent a year and we want to beat that." He added the company plans to add 50 people to its staff during this year.
E-Billing Solutions, which was incorporated in 2005 by young entrepreneurs, was acquired by leading European online payment services provider Ogone Payment Services in 2011 but the company retained its name and brand in the Indian market. Ogone now plans enter the India market to target premium customers while E-Billing Solutions will address the mass segment of merchants.