Merchant Service on Credit Cards |
Benefits of Card Acceptance:
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More Sales: Studies show that Credit Card customers spend more than customers who carry only cash
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Impulse Buying: Credit Cards give customers freedom to spend for previously unplanned purchases
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More Expensive Merchandise: Cards entice customers to purchase more expensive merchandise than they had originally planned to buy
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Competitive Weapon: Differentiates your business from those merchants who do not accept credit / debit cards and hence gives you an edge over the competition
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Enhanced Advertising: Since customers are more likely to shop at businesses where they have credit / debit card acceptance, they tend to look for and read those ads first.
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Steadier Sales: Credit smoothens out business peaks. Cash shoppers buy heavier on paydays and just before holidays whereas credit card customers buy whenever the need arises.
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Reaching a wider customer base : You can reach customers who prefer card payments over cash
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Improved security: Due to card transactions merchants have to hold lesser cash in the premises
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International Transactions : Cards represent the most used instrument for cross-border payments. Foreign customers prefer cards as a mode of payment rather than cash.
- Enhance Your Business Image : Accepting credit / debit cards creates a better image for you.
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Enhanced customer satisfaction: Acceptance of cards leads to greater customer satisfaction as the customer always gets something in return for the purchase made on his card either in the form of reward points, discount or cash back.
- Payseal, the ICICI Bank payment
gateway enables organisations to accept secure online Credit
Cards payments over the Internet.
- It makes electronic commerce more
convenient & offers ease and security of accepting payments
on the Internet.
- It provides that trust and security
which your customers require.
Payseal is an online real-time
payment gateway
- Offers 128-bit SSL encryption,
an established security technology protocol.
- Can process Visa and MasterCard
Credit Cards issued around the globe.
- Provides a robust, flexible and
scalable solution used by some of the leading Internet merchants
in India.
- Ensures real time authorisations
for your Credit Card transactions and reduces your back end
transaction processing requirements.
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In a typical retail purchase on
the Internet:
- The customer
fills his shopping cart on a merchant website and proceeds to
check out.
- The transaction
information is transmitted to the merchant server.
- The web merchant
forwards a digital order to the Payseal server in an encrypted
format.
- Payseal authenticates
the merchant and provides a payment options and payment details
screens directly on the customer's browser over a secure 128-bit
SSL+ connection.
- The customer
provides his Credit Card details, which is directly sent to
the payment server.
- The Credit Card
details are then forwarded to ICICI Bank for authentication.
ICICI Bank then transmits the message to the Cardholders (issuing)
bank for payment authorization. The issuing bank authorizes
the payment and transmits the confirmation back to the payment
gateway through the acquiring bank.
- On receiving
authentication and authorisation, Payseal forwards the validation
of the payment instrument to the merchant server.
- The merchant
transmits the acknowledgement of the payment to the customer's
browser.
The entire process integrates seamlessly
with the shop and buy application of the web merchant ensuring a
pleasant shopping experience for the customer. The Credit Card details
of the customer remain unknown to the net merchant. Top
With Payseal, merchants are assured
of:
Easy
installation
Single
platform
Adaptability
Optimum
server utilisation
Integration
Data
management
Certification
Upgrades
Swift
processing
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Easy
installation, operation and management
Payseal eliminates the need for complex
software, large databases, and heavy-duty processing on the merchant
site. Instead, all payment operations are handled by Payseal's
own 24x7 secure Payment Servers. As a result, software installation,
integration and management is no longer a major hurdle for merchants
and their site developers.
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Single
platform for all payment options
Payseal's unified
architecture can support the Internet's widest range of secure payment
options.
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Adaptability
to multiple platforms
The Payment
Client software is available for Microsoft® Windows NT™
and leading versions of Unix.
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Optimum
server utilisation on your site
The Payment Client
software connects the merchant's storefront to Payseal's services.
It is the only software component that needs to reside on the merchant's
site server, as Payseal physically hosts the rest of the software
at its own sites. This leaves the merchants' server resources free
for other tasks, at the same time allows them to accept multiple
modes of payment from your net customers.
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Fast,
easy integration
The Payment Client
offers developers and integrators of shop-and-buy applications a
number of programming language interfaces, minimising the coding
effort required. The Payment Client can be quickly and easily customised
to facilitate integration with all major merchant storefront platforms.
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Centralised
and secure data management
To protect
the integrity of merchant transactions, Payseal supports the Internet's
strongest security technologies. The client software encrypts transaction
information using 280 bit RSA before passing it through an SSL pipe
using 128-bit encryption.
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Verisign
certification
The gateway
server is assigned a server ID and authenticated by "Verisign",
one of the leading certifying authorities for websites.
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Automatic
upgrades and scalability
Businesses
can automatically take advantage of new payment technologies, standards
and services as they emerge, without undergoing costly and time-consuming
software changes to merchant site. Businesses retain the same interface,
yet are able to stay abreast of the latest technologies and offer
customers the widest range of options.
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Swift
Transaction processing
Payseal
delivers a real time, highly scalable and reliable Internet payment
platform that processes transactions in real time.
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How does Payseal
work?
In a typical retail purchase on the
Internet, Payseal would work as follows:
- The customer fills his shopping
cart on a merchant website and proceeds to check out.
- The transaction information is
transmitted to the merchant server.
- The web merchant forwards a digital
order to the Payseal server in an encrypted format .Payseal
authenticates the merchant & provides payment options and
payment details screens directly on the customer's browser over
a secure 128-bit SSL+ connection.
- The customer provides his Credit
Card details, which is directly sent to the Payseal server when
he clicks "Pay"
- The Credit Card details are then
switched to ICICI Bank for authentication. ICICI Bank then transmits
the message to the Cardholders' bank for payment authorization.
The issuing bank authorizes the payment, provided the Card is
valid and has the requisite credit limit, and transmits the
confirmation back to the payment gateway through ICICI Bank.
- On receiving the authorisation,
Payseal forwards a digital receipt to the merchant server.
- The merchant provides a confirmation
of the payment to the customer's browser.
The entire process
integrates seamlessly with the shop and buy application of the
web merchant The merchant may then ship the goods and capture
the transaction on the gateway server.
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What is an Internet merchant account?
For you to be able accept
Credit Cards for payment on the Internet, you need an Internet
merchant account with an acquiring bank. For Payseal, ICICI Bank
would provide you a facility account to receive your Credit Card
payments
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How do I get an Internet merchant account?
On completion of the sign
up for the Payseal services, we would assist you in opening a
bank account with ICICI Bank at any of the ICICI Bank locations
across India.
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Can I share an Internet merchant account with other merchants?
No, you cannot share
your account with another merchant.
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Can I use my existing ICICI Bank account?
If you have an existing
current account with ICICI Bank, you may use the same account
to receive payments.
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How can I receive payments from customers outside India?
Customers outside India can
make payments using their International Credit Cards. Payments
received from them will be credited to your account.
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Can
I use the same account for International transactions?
Yes. Payments for both
domestic and international transactions can be credited to the
same account.
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How can I view my account activity?
Payseal provides a comprehensive
browser-based merchant administration module. You will be provided
password protected user level access to your account details.
You will be able to generate reports that provide detailed information
about all transactions processed through Payseal. You will also
be able to administer your account through this interface.
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Can I continue with my current acquiring bank?
You will need to have ICICI
Bank as your acquiring bank to utilise the Payseal services.
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What is required on my end to connect to the Gateway?
You will need to have your
shop and buy application running on your web server. Payseal will
provide a payment client software, which will be integrated with
your shop and buy application. The payment client will act as
an interface between your web site and the Payseal server. It
is essential that you have administrative rights to your server,
a Java runtime environment and the ability to install COM components.
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Is there any documentation provided to operate the system?
Payseal will provide you
with detailed documentation to operate the gateway systems. This
documentation will help you integrate the payment client with
your shop and buy application. It will also serve the purpose
of an operational manual for day-to-day operations.
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Which platform do I need to get connected to Payseal?
Payseal's payment client
is available for all standard platforms including Windows NT,
Unix etc
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Step 1 : Complete the Merchant
Application Form
Please click
here to download the Merchant Application Form, take a print-out
of the same, Fill it completely, attach the documents mentioned
on the form and mail it back to the attn of Manager, Merchant
Acquisition Department, 1st Floor, Zenith House,
Keshavrao Khade Marg, Mahalakshmi, Mumbai - 400 034.
Step
2 : Mapping of Client Requirements
Our
team will understand your processes and payment requirements.
map the systems and technical features. The costs are then determined
on the basis of the following three parameters :
a.
Profile of Goods and Services being sold by the net merchant
b.
Organisation Profile
c.
Estimated Revenue Projections
Step
3 : Open an Internet Merchant Account
An
Internet merchant account is a current account with ICICI Bank,
which enables you to receive payments towards captured Credit
Card transactions processed through the gateway. We would assist
you in opening an Internet merchant account with ICICI Bank
Step
4 : Technical Integration
The
Integration process commences with the download of a Payseal
payment client software. To enable technical integration, you
need to have complete administrative access to your server systems,
ability to install COM components and also a Java Runtime Environment.
Our team will coordinate the complete integration process with
your organisation.
Step
5 : User Acceptance Test
On
completion of integration, you would complete a User Acceptance
Test
Step
6 : Trial Runs
You
would need to conduct trial runs after the integration process
is completed, to ensure smooth operation of the systems.
Step
7 : Training
Your
team would receive training on utilisation of the Merchant Administration
Module, to access and process your Credit Card payments .
Step
8 : Go Live
Your
site would be Payseal enabled.
ICICI Bank can help
merchants accept the following Cards
Some of the leading
retail segments accepting Card payments include the following
:
| Airlines |
Hotels |
| Auto Parts |
Jewellery |
| Bookshops |
Leather Goods |
| Car Rentals |
Opticians |
| Carpets |
Petrol Pumps |
| Departmental Stores |
Restaurants |
| Electronics |
Saris & Silks |
| Garment Stores |
2 wheeler & 4 wheeler |
| Handicrafts |
Showrooms |
|
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- Acceptance of
- Credit Cards : Visa, MasterCard
- Debit Cards : Visa Electron,
Maestro
- State of the art terminal
- Zero Balance ICICI Bank account
with cheque book
- Direct account credits to ICICI
Bank account for settlement amounts
- New network
- Fast transaction speeds
- Merchant Training on Usage and
Fraud prevention
- Prompt Service
- Access to ICICI Banks vast portfolio
of finance products for your business and family needs
- 24x 7 Merchant service desk to
address queries
- Presence in all the leading metro
cities across India
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| Advantages
of a Merchant relationship with ICICI Bank |
ICICI Bank has a
huge range of Credit Cards on offer to customers. Each of these
Cards come packed with several powerful benefits which attract
high net worth individuals to spend and shop at premium merchant
establishments like yourself. ICICI Bank has also in place the
most powerful catalogue based rewards program that encourages
customers to spend more and earn more. You can now tap this spends
by making ICICI Bank Cardholders aware of your special offers,
discount deals, promotions etc.
To understand the
key benefits that each type of Card offers click the link below.
Your understanding of the benefits will help you tailor make your
offers to the ICICI Bank Card members resulting in higher spends
for you.
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Advertising Opportunities |
ICICI Bank provides you advertising
opportunities that's sure to give maximum mileage to your product
or service.
Just carry your advertising where
it can't be missed.
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ICICI Bank Credit Card Statement and Envelopes
Imagine a leading newspaper reserving
sole space for you, running your ad, and mailing it individually
to each of your prospective customers. Here's an innovative marketing
idea that's sure to give maximum mileage to your product or service.
Just carry your offer on the monthly statements of India's high
end Credit Cards - ICICI Bank.
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Targeted Direct Mailers
You get a direct reach to your
specific target group and you can communicate one on one with
them. You have a captive audience who'll read and re-read your
message at leisure. And since the people you are targeting are
personally addressed, there's no wastage.
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EMI
Opportunities
Advertise your EMI offers
to ICICI Bank Credit Card customers interested in buying now and
paying later in installments coupled with a fantastic finance
offer. click here
to know more about our EMI offers.
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Catalogue
based rewards Program.
You can also widen your reach
and popularise your products by participating in ICICI Bank's
Rewards Program. click
here to learn more about the rewards Program.
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Internet
Shoppers Club
We have an Internet
shoppers club program program reaching out to all of our online
customers that you too can be a part of. Our customers visit our
site to do quite a few banking activities. Your banners can reach
out to them, directly and cost-effectively. You can also display
your products or offers to our customers and enable immediate
purchase on your own web page, which we can host and advertise
on our site.
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Merchandising
Offers
Advertise directly to our
customers and follow up by transacting with them directly, through
phone, mail or online. click
here to know more about our Merchandising offers.
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Getting
Started with ICICI Bank Merchant Services |
Following
are the 9 easy steps to enable Card acceptance:
- Please click
here to download and print the Merchant Application Form.
- Complete
Merchant Application and ICICI Bank account opening forms
- Provide
supporting documents as indicated in the merchant application
form
- Mail documents
to ICICI Bank team to the attn of Manager, Merchant Acquisition
Department, 1st Floor, Zenith House, Keshavrao Khade
Marg, Mahalakshmi, Mumbai - 400 034.
- The
ICICI Bank risk team verifies documents & visits Merchant
establishment
- Install
Terminal at Merchant location
- Train
Merchant staff on terminal usage
- Collect
EDC Acknowledgement from Merchant
- Go
live!
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How does a typical Card transaction work?
Click
here for demo
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How do I open an ICICI Bank account?
On completion of the sign
up process, we would assist you in opening a bank account with
ICICI Bank at any of the ICICI Bank locations across India.
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Can I use my existing ICICI Bank account?
If you have an existing
current account with ICICI Bank, you may use the same account
to receive payments.
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What are the transaction charges?
There is a % fee that would
be charged towards each approved transaction that would be deducted
from the payment credited to your bank account. There is also
a fixed monthly charge if the transaction values are below a specified
threshold limit.
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How can I receive payments from customers outside India?
Customers outside India can
make payments using their International Credit Cards. Payments
received from them will be credited to your account.
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Can I use the same account for International transactions?
Yes. Payments for both
domestic and international transactions can be credited to the
same account.
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What
does a merchant need to start accepting Card payments?
Starting Card acceptance
at your outlet is extremely easy. You will need the following
to start accepting Card payments
- Some basic financial
and business documents
- A current account
with ICICI Bank
- A telephone line
to be connected to the POS terminal
To contact
us click here
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What documents do I need to provide for enabling Card acceptance
?
Your business would require to
provide the following documents in addition to completed and signed
copies of the Merchant Application form & Acquiring Bank agreement:
- Business Details
( Any 2)
- Shops and
Establishment Registration certificate (Current)
- Sales Tax
Registration certificate
- Telephone
/ Electricity bill
- Partnership
agreement ( compulsory for partnerships)
- Trade License
- Rent / Lease
agreement
- Certificate
of Incorporation
- Financial (
Any 1 )
- Bank Statement
- Income Tax
Return
- Balance Sheet
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