If you are a Merchant who has a transaction-capable website, and are looking at broadening the scope of your web-based sales, you may be interested in our Internet Payment Gateway (IPG). This world-class IPG would allow you to accept payments on a 24 X 7 basis from across the world, without the limitations of geographical boundaries and time-zones, from any customer who has a valid and internet-enabled MasterCard or Visa Debit card or Credit Card. Yes, we accept ALL local internet-enabled MasterCard/ Visa Cards, and most International MasterCard/ Visa Cards.
Our IPG is high on security. It comes with 128 bit encryption, and also offers MasterCard Secure Code and Verified-by-Visa authentication for complete peace of mind, both to our Merchants and their Cardholding customers. Our IPG has an enviable uptime and availability. It has very fast transaction-processing speed, and therefore as a Merchant, you'll have fewer transaction drop-outs and much lower risk of business loss. We also have very stringent standards of Merchant Acceptance. We do not accept cross-border merchants. We only process Indian Rupee (INR) denominated transactions. This however need not worry you, because in case you have foreign cardholders transacting on your website, although the transaction currency will be INR, they will get billed an equivalent amount in the billing currency chosen by their Card Issuing Bank. We pay you in INR.
Our IPG is a premium service and we like our merchants to derive value from their association with us. We expect you to open an account with Axis bank for your business and we credit the net proceeds of your daily settlements into the same. The minimum average monthly balance criteria & account service charges will apply depending on the type of account you choose.
Rest assured, it is our emphasis on quality and insistence on robust transactions acceptance process at your end, which will ultimately be a decisive factor in your profitability. As a business, this is what you seek, we believe. This is what has made some of India's best merchants choose us. The topmost merchants in almost every reputable category are with us, be they Airlines, Online Travel Portals, Educational Institutions, Insurance Companies, Utilities, Govt. entities, Shopping portals, Multiplexes, Lifestyle & luxury merchants etc.
How does an IPG work?
In its broadest form, an IPG handles a transaction as follows:
- The customer visits a Web Merchant's Online Store. She/he places the chosen items in the shopping cart and presses the checkout button.
- Web merchant's Web server receives the message and sends a digital order to the IPG over a secure link. The digital order contains the Merchant ID, signature equivalent codes, transaction amount and the sender's URL address. The Gateway verifies the Merchant ID and other details.
- The Gateway then presents a payment options screen over a secure link.
- The customer gives her/his Card information, which is sent to the IPG over the secure (encrypted) link.
- The Gateway then transmits this information to the Acquiring bank. The Acquiring bank transmits the message to the Issuing bank through the Visa / MasterCard network for payment authorization. The Issuing bank authorizes the payment and transmits the confirmation back to the Gateway through the same route.
- The Gateway sends digital receipts to the Merchant and the Customer. The Merchant can now ship the goods (or confirm receipt of payments etc, in case of Govt Tax collection websites).
Salient Features of AXIS's IPG
- Uses the state-of-the art architecture of MasterCard's MiGS platform, hosted out of New South Wales, Australia. MiGS makes the Bank eligible for receiving the most current security standards and protocols for the platform, thus preventing huge cost overruns.
- The look & feel (branding) is that of AXIS Bank. However the strength of the Gateway comes from MasterCard's MiGS system currently deployed by over 30 Acquirers in Asia Pacific and has been rigorously tested.
- Superior services of Axis Banks Internet Payment Gateway can be experience at IRCTC, Yatra.com, Cleartrip.com, Max Life Insurance, Air India & Life Insurance Corporation etc.
- Currently, there are 1300 merchants availing Axis Bank's Internet Payment Gateway facility