India's Snapdeal to launch payment system, or will become a class PayPal products

January 16 News, the Indian electric business Snapdeal launched its own payment system Klickpay. According to foreign media reports, the current payment system only on the Snapdeal shopping site as a means of payment, but do not rule out the future can become PayPal as applicable to any E-commerce platform payment system.

India's Snapdeal rival, Flipkart, has unveiled its own payment system payzippy. The rise of India's Home-grown payment system is also challenging international payments companies such as PayPal and Payu, making it more likely that local shoppers in India will pay more.

Klickpay users can bind their credit cards to the Klickpay account, so they don't have to enter credit card information every time they buy a web. But Snapdeal and Flipkart are also facing the same problem, that is, the number of credit card users in India is too small.

India has only 5 million credit-card active users in 2011, and more than 84 million people with the ability to hold credit cards, according to Datamonitor, a data company based in India, which has grown slowly in recent years. If Klickpay can get through with a bank card in the future, India's electronic payment market could be a real boom.

According to the latest figures from India's Ministry of Commerce, India's online consumption in 2013 amounted to $16 billion trillion, up 88% from 2013 's $8.5 billion trillion. But industry insiders say the figure still has a lot of room to grow.

ebay once invested in Snapdeal,snapdeal's sales target in 2014 to reach 320 million dollars.