E-Billing Solutions partners with PayPal [Now merchants can accept overseas payments from day one]
E-commerce payment service provider, E-Billing solution (EBS), which is the second largest payment services provider in India after CCAvenue has partnered with PayPal as its channel partner in India. Through this partnership, the existing 5,000 EBS merchants would be able to access PayPal’s 113 million active accounts in 190 markets.
This partnership with PayPal aims to help small exporters and existing merchants on EBS platform to start accepting overseas online payments from day one as compared to the 30-day period offered by other payment systems and up to 90 days as per traditional export models, the company said. Post this partnership, PayPal is looking to set up a local support for the merchants in India.
Earlier, in September 2011 EBS was acquired by European online payment processor Ogone. Currently, EBS provides multiple acquiring banks to ensure payment gateway services via Mastercard, Visa etc on a single platform.
The revenue sharing between the two is not clear at this moment; we have sent our queries to EBS and will update this post as we receive the responses.
How do you think this partnership is going to benefit EBS merchants/exporters? How do you think this will help Paypal which has had faced regulatory hurdles in India recently? Do you think it is a good decision to get into such partnership by EBS (presently they have 20-25% market share)?