Just got the following mail from Plimus Credit Card Gateway:
As per this mail, we CANNOT ACCEPT order from clients using Credit Card. What the hell???
February 16, 2011
Real Value Hosting
Vendor ID: xxxxxx
As a Plimus vendor based in India, we are informing you that the Reserve Bank of India (RBI) recently outlined new requirements for governing the processing and settlement of export-related receipts facilitated by online payment gateways. In order to comply with the RBI guidelines, effective immediately Plimus is forced to take the following actions on your account:
1. For purchases – the only purchase options your shoppers will now have are PayPal Wallet, Money Bookers, wire transfer, checks or European alternative payment methods
2. For existing ongoing subscriptions – no effect – these will continue
3. For new subscriptions – PayPal Wallet is now the only choice for purchase
Because these requirements are mandated by the government of India and the RBI, the changes have already been made to your order pages by our engineering team. We suggest you check them out and validate everything is working as described.
If you have been mistakenly identified as a solely India based vendor, please contact Vendor Support immediately so we can correct the error. Thank you for your continued use of Plimus as your e-Commerce platform.
The Plimus Team.
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ofcourse, initially business will be affected because of new policies from government of India. But no need to worry about this sooner or later any alternative will come, because business is not going to stop. This time we can use Alertpay.
As Plimus is forced by RBI to apply such rules to all the Indian Vendors, I think this will be applied to all the Credit Card Gateway providers such as 2checkout etc. sooner or later.
Since the payments in hosting industries (in shared / reseller hosting), are very small, Wire transfer etc. are not the options at all. I think it is going to affect all the companies like us
Well, being an Indian company, maybe you should check what the governmental policy really is about. It may well be that some possibilities still exist and you could use the services of another processor.
What is the current solution which is tested? We are also one among them who are affected with the Plimus mail it landed with a bang in our head, we are really cool with that guys now dont know what to do? We also have Alertpay as processor, shall we change it to Alertpay? Will it process Indian debit cards? I tried with Indian Overseas Bank card it processed the same many times but dont know about other cards.
Got similar update for plimus as well. Even they stopped transactions for Indian merchant. Don’t know whats next with international gateway providers. It seems in such scenario Indian gateways would be the most reliable one. EBS seems a reliable & affordable alternative. Now we will have to be cautious for selecting appropriate solution for our payment processing.
Can't genralize pal, Unsure about others but have got a good deal from EBS n have found it reliable so don't knock it unless uve tried it. Cud be coz its an Indian PG following Indian rules which is why its still up and running but as long as it works for me, who cares y