FlipKart Group’s payment gateway services has launched online payment solution, PayZippy. Available currently for Indian merchants, the company said that it will soon launch a gateway for customers as well.

The launch version of PayZippy powers card payments for domestic merchant websites and mobile sites. An official note from the company said that the solution is PCI DSS certified and is backed by an indigenously developed highly advanced fraud detection system. PayZippy is also extremely robust and scalable; having been rigorously tested on Flipkart.com.

Sachin Bansal, Co-founder and CEO, FlipKart.com said, “Flipkart has enabled e-commerce in India over the last six years. Throughout our journey we were always looking to build solutions that could empower the whole ecosystem and not just Flipkart. FlipKart’s Marketplace and Payzippy are the first two examples of this. This is an exciting beginning.”

FlipKart termed this launch as a pre-cursor for a larger customer-centric product using which consumers will be able to save their card details in their PayZippy account.  They will then be able to use this saved card for transactions on merchant websites without having to type or share sensitive card details.
The product is aimed at significantly cutting down on transaction time and errors.

Mekin Maheswari, Head – Payments and Digital Media said, “The Flipkart brand name is associated with innovation, trust and customer focus – and these are three things that come together in PayZippy. The vision for PayZippy is to make online payments extremely convenient and secure for customers.
PayZippy aims to partner with 2000 merchants by March 2014.

Meanwhile, welcoming the launch, Sanket Atal, Chief Technology Officer, MakeMyTrip.com said, “Flipkart’s move to offer payment as service to the merchants is a welcome move for the industry as they would look to bring in innovative solutions to solve existing pain areas on the merchants side.”

PayZippy will now compete with existing players in the online payment gateway space including CCAvenue, PayTM, PayU, BillDesk, ZaakPay, Times of Money's Direct Pay and even banking institutions like ICICI, HDFC, Citi Bank etc.