Hi, I am planning to opt for ICICI Payseal as my payment gateway for our portal following are few advantages that I see are Advantages 1) Processing Fees 2.5% + Service Tax 2) No chargebacks for unauthorized claim's 3) Will process all debit cards in India (Even if the debit card holder does not have a Internet banking facility) 4) I thinks because its a Bank and not any CC company it will provide a better service 5) (paypal charges $10 as chargeback settlement charges) this is not applicable to ICICI payseal CHARGES 1) Yearly fee Rs.10000 if you have business of over 40 Lac than this is not applicable. 2) Security Deposit Rs.25000 3) Onetime charges Rs.40000 Disadvantage 1) No Initial processing of International Credit Cards I want to know your reviews regarding ICICI Payseal
This can be a very good service. For accepting international payments, we can use paypal, 2co etc. However, the one time charge is higher than other internet payment gateways available.
Yes the set up fee is little high but if we compare the transaction charges of other cc companies its 5% to 7 % against 2.5% of ICICI it does make sense to go for 2.5 % if you have good volume (paypal charges $10 as chargeback settlement charges) this is not applicable to ICICI payseal