IndiaPay is India’s first indigenous payment gateway and is scheduled to be launched in mid-2011. The National Payments Corporation of India (NPCI) is the owner of IndiaPay and will make its first move by cutting charges levied to merchant establishments by half, compared with what MasterCard and Visa charge. IndiaPay’s shareholders consist of 10 banks, six of which are PSU banks, and is promoted by the Reserve Bank of India.
2011-01-28