Ogone Payment Services buys Mumbai-based E-Billing Solutions

September 30, 2011  |  Electronic Invoicing, Payment

Things are not only heating up in Europe, but in India as well. A country with one of the largest populations on this planet.  That explains why  Ogone Payment Services has acquired Mumbai-based E-Billing Solutions. This is Ogone’s first acquisition outside the European market.

Facts and figures on e-business in India

Here are some facts and figures that show why India is probably one of the best places to be when you want to earn some petty cash with e-invoicing:

  1. India is the 2nd most populated country in the world, with a population of 1.21 billion as per Census of 2011, it contains 17,5% of the total global population.
  2. Only 8.4 per cent 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. This is set to grow rapidly with online travel accounting for 80 per cent of the commerce in India.
  3. India currently records 2.1 billion non-cash transactions, compared to 15 billion transactions in Brazil, 5.4 billion in China and 2.8 billion in Russia, according to a recently published joint report by Capgemini, Royal Bank of Scotland (RBS) and EFMA.
  4. E-commerce in India is a $5 billion market and according to industry body IAMAI estimates, it is expected to touch $10.27 billion by the end of 2011.
  5. The number of global e-payments (online payments for e-commerce activities) is said to grow from 17.9 billion to 30.3 billion transactions between 2010 and 2013, while mobile payments are expected to grow from 4.6 billion to 15.3 billion transactions during the same period.

Ogone EBS acquisition details

EBS was co-founded by Nishanth Chandran and Prabhu Ram in 2005 and it claims to hold 20 per cent of the market share (in terms of merchant base) in the Indian payment gateway industry.

EBS will continue to operate under its current management structure, retain the same name and brand, continue to expand and will be responsible for running the operations, according to Ogone.

Ogone offers solutions for managing electronic payments across several domains including e-commerce, ticketing, call centres, airlines and travel in B2C and B2B environments.

Peter De Caluwe, CEO of Ogone Payment Services, commented on the deal: Acquiring a leading company such as EBS represents huge potential for us and our European merchants.”

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