new2paypal Posted February 3, 2009 Share Posted February 3, 2009 Hi, I'm planning to build a simple shopping website that sells gifts. The products/gifts would be delivered to Indian addresses, but orders can be made from anywhere in the world. The amount would ultimately be credited to the seller's bank account in India. I've been exploring several payment gateways for accepting credit card payments online. Since mine is a small business, I can't afford to pay the huge setup fees charged by ccavenue, ICICI netseal, etc. I'm considering Paypal's website payments standard. I have few questions regarding the use of Paypal. I'll be very much grateful to the members if they can answer my queries: 1. Paypal's website payments standard doesn't accept payments in Indian rupees. So, how would my buyers in India pay with their credit cards (whose credit is in Indian rupees)? Suppose I decide to use US Dollars as the accepted currency, will the Indian buyers be paying the US Dollar equivalent of the amount in Indian rupees? Do Indian credit cards allow such a transaction (crediting in dollars)? Similarly, if a buyer from Australia were to visit the site, would his credit card be charged in US Dollars too? 2. I understand that Paypal charges a transaction fees with every purchase and it takes into account domestic/international purchases. But will the buyer's credit card company levy any extra charge for converting Indian/Australian/any currency to US Dollars? 3. I have been reading some bad reviews about Paypal. Can you suggest any other (cheaper) option for a payment gateway in India that accepts payments in Indian Rupees and US Dollars? Thanks in advance! Quote Link to comment Share on other sites More sharing options...
satish Posted February 4, 2009 Share Posted February 4, 2009 They will pay in USD. Satish Quote Ask/Skype for Free osCommerce value addon/SEO suggestion tips for your site. Check My About US For who am I and what My company does. Link to comment Share on other sites More sharing options...
satish Posted February 4, 2009 Share Posted February 4, 2009 Yes when You withdraw money there is conversion charge of upto 2.5 % Satish Quote Ask/Skype for Free osCommerce value addon/SEO suggestion tips for your site. Check My About US For who am I and what My company does. Link to comment Share on other sites More sharing options...
new2paypal Posted February 4, 2009 Author Share Posted February 4, 2009 Yes when You withdraw money there is conversion charge of upto 2.5 % Satish Satish, Thanks for responding. Now this conversion charge of 2.5% - is that charged by the merchant's bank or by paypal? I have some basic questions about Paypal payments, and credit card transactions in general. Please look at the Math below. I'd be happy if you can answer my questions. Suppose a buyer from India purchases a product on my site costing 100$/5000Rs. Paypal would levy a transaction fee of 3.4% + 0.30$ which amounts to 3.70$. So, 100-3.70=96.30$ would be credited into my Paypal account at the end of the transaction. Is that all or are there any more deductions? When I withdraw the amount, I understand that I’ll get the INR equivalent of 96.30$ on that particular day into my Paypal account. When I transfer the amount into an Indian bank account, will there be any further service charge/education cess, etc. besides the conversion charged mentioned by you? If yes, how much (in %) would the additional deductions sum up to? How much would the buyer’s credit card be charged in total? Will it just be 100$ or is there a forex factor involved as his Indian credit card is being charged in USD? Can you tell me, in %, how much is this charge? Finally, one basic question about credit cards. Lets say I buy something online for 100$/5000Rs. Paypal/Merchant's bank contacts the credit card company and the credit card company authorizes the payment. The item gets shipped. When would the amount be credited into the merchant's account? If that happens exactly at the time of purchase, the merchant would get 100$/5000Rs. But if that were to happen after 2days, and lets say the $ value drops to 48 after 2 days. So, will the credit card company just transfer 100$/4800Rs to the merchant's account or will it transfer 5000Rs? This might sound silly, but I had this doubt since some of my credit card transactions appear with a latter date on my statement. I have never used my US credit card for purchases in India, so I don't know how it works. Satish, please clarify! Thanks. Quote Link to comment Share on other sites More sharing options...
titan3645 Posted June 19, 2009 Share Posted June 19, 2009 Hi, Have your started the above biz? I may need some gift items to be delivered in India. How to go to your site? Reply please. Hi, I'm planning to build a simple shopping website that sells gifts. The products/gifts would be delivered to Indian addresses, but orders can be made from anywhere in the world. The amount would ultimately be credited to the seller's bank account in India. I've been exploring several payment gateways for accepting credit card payments online. Since mine is a small business, I can't afford to pay the huge setup fees charged by ccavenue, ICICI netseal, etc. I'm considering Paypal's website payments standard. I have few questions regarding the use of Paypal. I'll be very much grateful to the members if they can answer my queries: 1. Paypal's website payments standard doesn't accept payments in Indian rupees. So, how would my buyers in India pay with their credit cards (whose credit is in Indian rupees)? Suppose I decide to use US Dollars as the accepted currency, will the Indian buyers be paying the US Dollar equivalent of the amount in Indian rupees? Do Indian credit cards allow such a transaction (crediting in dollars)? Similarly, if a buyer from Australia were to visit the site, would his credit card be charged in US Dollars too? 2. I understand that Paypal charges a transaction fees with every purchase and it takes into account domestic/international purchases. But will the buyer's credit card company levy any extra charge for converting Indian/Australian/any currency to US Dollars? 3. I have been reading some bad reviews about Paypal. Can you suggest any other (cheaper) option for a payment gateway in India that accepts payments in Indian Rupees and US Dollars? Thanks in advance! Quote Link to comment Share on other sites More sharing options...
titan3645 Posted June 19, 2009 Share Posted June 19, 2009 Hi, Have your started the above biz? I may need some gift items to be delivered in India. How to go to your site? Reply please. Hi, I'm planning to build a simple shopping website that sells gifts. The products/gifts would be delivered to Indian addresses, but orders can be made from anywhere in the world. The amount would ultimately be credited to the seller's bank account in India. I've been exploring several payment gateways for accepting credit card payments online. Since mine is a small business, I can't afford to pay the huge setup fees charged by ccavenue, ICICI netseal, etc. I'm considering Paypal's website payments standard. I have few questions regarding the use of Paypal. I'll be very much grateful to the members if they can answer my queries: 1. Paypal's website payments standard doesn't accept payments in Indian rupees. So, how would my buyers in India pay with their credit cards (whose credit is in Indian rupees)? Suppose I decide to use US Dollars as the accepted currency, will the Indian buyers be paying the US Dollar equivalent of the amount in Indian rupees? Do Indian credit cards allow such a transaction (crediting in dollars)? Similarly, if a buyer from Australia were to visit the site, would his credit card be charged in US Dollars too? 2. I understand that Paypal charges a transaction fees with every purchase and it takes into account domestic/international purchases. But will the buyer's credit card company levy any extra charge for converting Indian/Australian/any currency to US Dollars? 3. I have been reading some bad reviews about Paypal. Can you suggest any other (cheaper) option for a payment gateway in India that accepts payments in Indian Rupees and US Dollars? Thanks in advance! Quote Link to comment Share on other sites More sharing options...
titan3645 Posted June 19, 2009 Share Posted June 19, 2009 Hi, Have your started the above biz? I may need some gift items to be delivered in India. How to go to your site? Reply please. Quote Link to comment Share on other sites More sharing options...
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