Hyderabad, September 23, 2011: EBS (E-Billing Solutions), the second largest on-line payment provider in India, has announced that Ogone Payment Services, one of Europe’s leading payment service providers, has signed a binding agreement to acquire the company. This acquisition marks Ogone’s first foray outside of the European market and into the rapidly expanding Indian on-line payments market.
However, EBS will continue to operate under its current management structure and market approach and will be responsible for running the operations and the continued expansion of the company. EBS will also retain its name and brand in the Indian market. The EBS board is supported by 3 members of the Ogone Payment Services Board.
Mr Nishanth Chandran, Co-Founder & CEO of EBS, said: “This deal represents a huge opportunity for us to lead the market in India and Ogone Payment Services are the right partner to enable us to get to the number one position in India.”
Mr Peter De Caluwe, CEO of Ogone Payment Services, said: “Only 8.4% of the Indian market is currently online but this translates to 100 million users, which makes it the fourth largest online country in the world and this is set to grow rapidly with online travel accounting for 80% of the commerce in India. Acquiring a leading company such as EBS represents a huge potential for us and our European merchants.”
EBS were advised by growth partnership firm IndigoEdge. Ogone, meanwhile, were advised on the deal by Brian, Garnier & Co, an independent pan-European investment bank focused on growth companies.
Shifting our Website to E Billing Solutions Payment Gateway has been the wisest decision we have made. The earlier payment gateway that we had was ....
E-commerce is the future of shopping. Thus it would be apt to quote "The future is here, its just not widely distributed". Internet economy will continue to grow robustly as India is believed to be the 3rd largest country to use internet for online payments with a remarkable rise of over 100% each year for online shopping.
Apart from Merchant Account services, EBS recognizes all those clients who are looking for a successful online business, but are not given opportunity by various authorities to benefit from the escalating online growth. To fuel e-commerce growth, EBS now introduces first time in India a new option of accepting payments online facilitating funds to your existing current account where at the same time your name would be appearing on the customer's card statement, which brings value to your brand.
EBS accepts Visa, Master & Diners Card along with Net banking of Axis Bank, Citi Bank, HDFC Bank and J&K Bank. It also accepts payments through Itz Cash Card and a wide range of debit cards.
The debit cards payment option are:
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