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E-payment Systems in India Part 1 September 11, 2019

TRANSACTION CHARGES ON E-PAYMENTS

This topic is covered in three part series titled E-payment systems in India compromising of‘ Transaction Charges E-payments’, ‘Workings of a Payment Gateway System’ and ‘Chargeback and Refunds’.
Ever wonder, why do you have to pay ‘internet handling charges’, ‘internet tax’ or ‘service charge’ (Transaction Charge) on payment gateways while making a transaction online?
A payment gateway which is the online page where you initiate the payment and enter your card details, forms a part of the larger payment gateway network. The ‘System Provider’ i.e. operator of the payment gateway system is required to obtain authorization from the Reserve Bank of India (RBI).[1] ReadMore