E-Payment
Definition
Payment Gateway is a flexible, scalable solution designed to accommodate the rapidly evolving Internet secure payment environment for businesses.
It offers a user-friendly facility to businesses to sell their products in a hassle-free manner to their target customers and ensure receipt of payments on real time basis.
E- Payment supports multiple merchants on a single platform & accepts for most of the major credit and debit cards
Objective
- To build up a Payment Gateway Services facilitating online transfer of funds from customers to clients ( both internal & external )
- To provide real-time merchant account solutions ensuring that online business platform is ready to accept payments 24 hours a day , 7 days a week & 365 days a year
Salient Features
- A complete payment gateway for all inbound collections.
- It is a time saving mechanism as a single transaction is executed within few minutes at the click of a mouse & the buyer does not have to physically make the payment.
- It saves the cost of transferring the money ( Instrument & Courier Charges ) due to end to end automation
Value Proposition
Buyer
- Gateway will provide complete online , real time payment solution
- Significant reduction in costs
- Convenience in Making Payment from varied options
Seller
- Single window solution for all collection / payment requirements
- Gateway will act as an aggregator to give access to multiple Banks
- High degree of control & checks
- Timely reconciliation
- Faster Collection of Sale Proceeds ( EMD / Material Value )
- Clients are benefited as interface reduces the cycle time of transaction drastically providing the customer wider window & flexibility of payments
Role of finance junction
- Design , develop & Implement the Payment Gateway Platform which is integrated with a host of Public / Private / Foreign Banks.
- Real Time Collection Support to Sellers & Merchants
- Appropriate / Effective MIS for faster delivery of Goods & Services
Payment Options
- Credit Card - It is compatible with brands viz. Visa / Master card / Visa Electron / Maestro
- Net Banking - It supports Transactions via Direct Debit Facility from Net Banking Account
- Debit Card - It supports Transactions via Direct Debit Facility from Debit Card Issuing Bank
- Mobile Payment - It works on your mobile phone and is a simple and fast way to transact 24 x 7 x 365 from the comfort of your home, office or even from your car
List of Partner Banks under E - Payment
Net
Banking
ABN
Amro Bank
Karnataka
Bank
Allahabad
Bank
Karur
Vyasa Bank
AXIS
Bank
Kotak
Bank
Bank
of Bahrain & Kuwait
Laxmi
Vilas Bank
Bank
of Baroda Corporate Net Banking
Oriental
Bank of Commerce
Bank
of Baroda Retail Net Banking
Punjab
National Bank Corporate Net Banking
Bank
of India
Punjab
National Bank Retail Net Banking
Central
Bank of India
Shamrao
Vitthal Co-operative Bank
Citibank
Debit Card
South
Indian Bank
City
Union Bank
State
Bank of Bikaner & Jaipur
Corporation
Bank
State
Bank of Hyderabad
Deutsche
Bank
State
Bank of India
Federal
Bank
State
Bank of Indore
HDFC
Bank
State
Bank of Mysore
ICICI
Bank
State
Bank of Patiala
IDBI
Bank
State
Bank of Travancore
Indian
Overseas Bank
Tamilnad
Mercantile Bank
IndusInd
Bank
Union
Bank of India
Jammu
& Kashmir Bank
YES
Bank
Credit
Card
Visa
Diners
MasterCard
American
Express
Achievements
- 2500 Online Transactions done by Bidders
- Collected in excess of Rs 150 Crs through online collection
Definition
Payment Gateway is a flexible, scalable solution designed to accommodate the rapidly evolving Internet secure payment environment for businesses.
It offers a user-friendly facility to businesses to sell their products in a hassle-free manner to their target customers and ensure receipt of payments on real time basis.
E- Payment supports multiple merchants on a single platform & accepts for most of the major credit and debit cards
Objective
- To build up a Payment Gateway Services facilitating online transfer of funds from customers to clients ( both internal & external )
- To provide real-time merchant account solutions ensuring that online business platform is ready to accept payments 24 hours a day , 7 days a week & 365 days a year
Salient Features
- A complete payment gateway for all inbound collections.
- It is a time saving mechanism as a single transaction is executed within few minutes at the click of a mouse & the buyer does not have to physically make the payment.
- It saves the cost of transferring the money ( Instrument & Courier Charges ) due to end to end automation
Value Proposition
Buyer
- Gateway will provide complete online , real time payment solution
- Significant reduction in costs
- Convenience in Making Payment from varied options
Seller
- Single window solution for all collection / payment requirements
- Gateway will act as an aggregator to give access to multiple Banks
- High degree of control & checks
- Timely reconciliation
- Faster Collection of Sale Proceeds ( EMD / Material Value )
- Clients are benefited as interface reduces the cycle time of transaction drastically providing the customer wider window & flexibility of payments
Role of finance junction
- Design , develop & Implement the Payment Gateway Platform which is integrated with a host of Public / Private / Foreign Banks.
- Real Time Collection Support to Sellers & Merchants
- Appropriate / Effective MIS for faster delivery of Goods & Services
Payment Options
- Credit Card - It is compatible with brands viz. Visa / Master card / Visa Electron / Maestro
- Net Banking - It supports Transactions via Direct Debit Facility from Net Banking Account
- Debit Card - It supports Transactions via Direct Debit Facility from Debit Card Issuing Bank
- Mobile Payment - It works on your mobile phone and is a simple and fast way to transact 24 x 7 x 365 from the comfort of your home, office or even from your car
List of Partner Banks under E - Payment
| Net Banking | |
| ABN Amro Bank | Karnataka Bank |
| Allahabad Bank | Karur Vyasa Bank |
| AXIS Bank | Kotak Bank |
| Bank of Bahrain & Kuwait | Laxmi Vilas Bank |
| Bank of Baroda Corporate Net Banking | Oriental Bank of Commerce |
| Bank of Baroda Retail Net Banking | Punjab National Bank Corporate Net Banking |
| Bank of India | Punjab National Bank Retail Net Banking |
| Central Bank of India | Shamrao Vitthal Co-operative Bank |
| Citibank Debit Card | South Indian Bank |
| City Union Bank | State Bank of Bikaner & Jaipur |
| Corporation Bank | State Bank of Hyderabad |
| Deutsche Bank | State Bank of India |
| Federal Bank | State Bank of Indore |
| HDFC Bank | State Bank of Mysore |
| ICICI Bank | State Bank of Patiala |
| IDBI Bank | State Bank of Travancore |
| Indian Overseas Bank | Tamilnad Mercantile Bank |
| IndusInd Bank | Union Bank of India |
| Jammu & Kashmir Bank | YES Bank |
| Credit Card | |
| Visa | Diners |
| MasterCard | American Express |
Achievements
- 2500 Online Transactions done by Bidders
- Collected in excess of Rs 150 Crs through online collection
Testimonials
- I have noted that mjunction has become the world's largest marketplace for steel, and the goal set to bring in more transformations. mjunction team deserves to be complemented on these achievements.
Mr. Ratan Tata, Chairman, TATA Sons
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