Mushrooming of online marketplaces has forced Indian shopaholics to transact online. The trend has also created a stir among all those small medium retailers (SMEs) that earlier refrained from online payments.
Recently, Freecharge has come up with a MasterCard powered virtual card named 'FreeCharge Go.' This is basically a one-stop wallet for any online transaction a customer wants to make from any part of the country.
MoboMoney is a prepaid wallet issued in the form of an NFC (Near-Field Communication) Contactless Tag, which can be used to pay on a network of NFC enabled Merchant POS or through an NFC enabled mobile phone.
Online payment gateway Razorpay has raised $9 million (about Rs 58 crore) in a round led by Tiger Global that also saw participation from Matrix Partners, as part of a plan to further build its product and enter other segments of the payment industry
Payments are an integral part of shopping. The modes of payments have been enhanced by the introduction of plastic money plummeting the use of paper money. With an array of options available, shopping has become much convenient and exciting.