How will i get the money ??

C

CaaYoTee

Contributor
Guys, its been a long time since i last visited TE or for tht matter the internet...blame my new job...
Well,better late than never, i'm here with a serious problem...and i need ur help...
i'm starting a new e-venture and most of the site coding is over...i'll elaborate about the content later but it is a usual e-commerce site. Now i need to know how do i get the money from a customer in say, the US/ EU countries here in india? I know about PAYPAL but maybe i dont know much more than the name... ;)
Please tell me how do i set up an account with paypal and how do i retrieve the money thru paypal,once the transaction is done. also do they(paypal) have operations here in india?
What is the procedure of retrieval of money from PAYpal in india once it is credited to my account?
Is there any other option for payment ,something that shud be easy for the customer as well as for me?Pls help me...this is very important for me to know about all this..
thanks,
kevin :)
 
Paypal do not offer credit to account feature in India yet.

You will need the credit card to open the account with the paypal. You can accept and transfer money once the account is activated. You can withdraw money by the means of cheque.

just go to paypal.com/ All info is there.

THe other options are getting payment gateway for your site so you can accept the credit cards and debit cards ( not indian debit cards of course but international ones ) directly on the site securely.
 
There was an Indian site that would accept the CC payments and forward it to you. Verification and everything else would be handled by them. I don't really remember the name. Google for it.
 
Well for the professional account they(paypal) charge you some percentage or somtheing for every transaction. Later you can withdraw by means of cheque as FM said. Someone told me that the cheque is of citibank cashable at all branches in INdia.
Of course they will charge a hefty sum for courier to send the cheque to you.
 
Guys, thanks for the inputs but i still need to know if there is a suitable alternative to Paypal for accepting payments in India. Someone told me about Xoom.com but i really dont know whether customers will accept to pay through it. I guess, worldwide, paypal is the most trusted online payment system.
Also, is there any way, i can get a Wire transfer of the funds to my bank account here in india directly? Please let me know...
Also, do i need to have a credit card to open an account with paypal? i was told tht opening an account at paypal was free...
 
Opening an account does not cost you any money. However once you transfer your funds to a bank account, paypal will take its cut.
 
wolfff said:
Opening an account does not cost you any money. However once you transfer your funds to a bank account, paypal will take its cut.
Click to expand...

That we cannot do here we can not transfer your funds to a bank account. We can only take checks and if your account accepts cc payments then everytime you get some momney they take a 2-3% cut.
 
Okay, so does it mean tht i will get a direct check from paypal at the address i provide? Also renegade said tht the checks are citibank cashables... anyone know anything about it?
Moreover, if i open a primium account instead of a business account, will there ba a limit as to how much i can have in my paypal account at a time?

And does anyone know anything about Xoom.com? Can it be used as an alternative to Paypal?
Thanks in advance, kevin
 
easiest way to get payments is wire/telephonic transfer...and it isnt too hard...all you have to do is give the customer your SWIFT code and then they can transfer the money...payment is instant almost...but lots of people are wary of sending advance payments....you may get some people asking if you will accept "escrow" services...which arent very reliable[in my experience..] even though they claim to be...you can decide for yourself...google it

just offer the payment gateway for credit cards or a wire transfer option...those are the easiest hassle free ways

if you dont mind waiting you can also try cheques but they taking a ****ing hell of a long time to get cleared
 
Decadent_Spectre said:
easiest way to get payments is wire/telephonic transfer...and it isnt too hard...all you have to do is give the customer your SWIFT code and then they can transfer the money...payment is instant almost...but lots of people are wary of sending advance payments....you may get some people asking if you will accept "escrow" services...which arent very reliable[in my experience..] even though they claim to be...you can decide for yourself...google it

just offer the payment gateway for credit cards or a wire transfer option...those are the easiest hassle free ways

if you dont mind waiting you can also try cheques but they taking a ****ing hell of a long time to get cleared
Click to expand...

decadent,thanks a lot, by the way, can i get a wire transfer to my icici bank accounbt directly? Also ,which would be a better choice, western union or icici power transfer?
kevin
 
weatern union.

US/EU guys know jack abt ICICI, but they wud definitely know about western union.

But if you wnat to do business there, be ready to setup a credit card gateway, cos those guys feel more ecure with it (due to various anti-fraud protections there). Getur site verisign certified - expensive, but again, you probably will then get a discount with the credit card merchants
 
CaaYoTee said:
decadent,thanks a lot, by the way, can i get a wire transfer to my icici bank accounbt directly? Also ,which would be a better choice, western union or icici power transfer?
kevin
Click to expand...

im not sure what is power transfer...but as far as i can remember about banking rules...you can recieve a wire transfer from any bank to any bank....but for more specific procedures you need to contact the bank....

im not a fan of western union...use it if i have to but wire transfers are good for me...
 
Hey KK its great to hear from you after such a long time... :) So howz life in pune..final year..rit?? did u get placed?
coming back to the topic, i found out a payment gateway named ccavenue.com, i guess i'll go for it, anyways thr is always the option to include paypal...
Hey Decadent, thanks for the pm....u r really helpful... :) i'll talk to my bank manager and get you on it as soon a possible..thanks again
Kevin

EDIT : I just went to ccavenue.com, but it seems they are takin us for a ride...they are charging a hefty Rs. 25,000 to open a premium account and Rs. 7500 for economy account..and as it goes with everything named 'economy' the service will be crap...i'm in a dilemma now...pls tell me if you know of a better, and more importantly, sasta gateway... :)
 
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