Financial Payment Service Major Atom Technologies enters the elite list of ILC Power Brand, Voted as “India’s Most Reliable Payment Gateway Company 2014”
Financial Payment Service Major Atom Technologies enters the elite list of ILC Power Brand, Voted as “India’s Most Reliable Payment Gateway Company 2014”
Atom Technologies awarded the prestigious honour as a Trusted Payment Partner in the complex & competitive business market at 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014
With the booming market in the digital payment where the option of payment becoming hassle-free & simplified, India is witnessing a metamorphosis in the market size of the online payment post the Modi Government at the Centre ending the 10 years of instability in political decision making following the compulsion of coalition politics & lack of a single party at the center. With the decisive mandate of BJP under the leadership of Narendra Modi, Indian Inc is hopeful of plethora of reforms & policy. “The Payment Gateway Services in online market will flourish” says Dewang Neralla, CEO & Director of Atom Technologies at the 5th Annual India Leadership Conclave & Indian Affairs Business Leadership Awards 2014 platform where Atom Technologies was voted by the public & the Jury Members of the Network 7 Media Group as India’s Most Reliable Payment Gateway Company 2014. Receiving the coveted Award & Certificate with the prominent Management Team at the India Leadership Conclave from Bollywood Legend Shakti Kapoor, Dr Mukesh Batra, Padma Shri recipient & India’s most-renowned homeopath, and founder-chairman of Dr Batra’s in the presence of Satya Brahma, Chairman & Editor-In-Chief of Network 7 Media Group, Dewang said “ We at Atom are indeed elated & excited to be voted from the Jury as well as the public who voted for us, our responsibilities now increase manifold to perform better & be a innovative player in the payment gateway business & I expect our revenues to touch 100 Crore in next two years”.
The other Notable Awardees include Anil Ambani of Reliance , Naresh Goyal of Jet Airways, Wrestler Sangram Singh, Actress Shraddha Kapoor, Dr. Jayprakash Narayan, Leela’s Aishwariya Nair, Fashion Designer Komal Sood, Padma Shri Dr.Shashank Joshi, Dr. Dr.Jothydev Kesavadev, among others who shined at the Asia’s Biggest India Leadership Conclave Awards 2014. The set of 30 Awards were presented in a glittering award ceremony at Hotel Hilton Mumbai International Airport on 18th July 2014 where India’s top think tank witnessed the seminar on Perform or Perish. More than 300 Industry Leaders were present in a power packed show.
It may be note here that the Digital payments in India is expected to touch Rs1.2 trillion by December 2014, a 40% increase from Rs85,800 crore the previous year, propelled by growing Internet penetration, growth in e-commerce and the ease of online payments, according to a report by the Internet and Mobile Association of India (IAMAI). The market for payments made through digital medium has grown at a compounded annual growth rate (CAGR) of 10% between 2010 and 2013. The report titled Digital Money is IAMAI’s first such on digital payments and was prepared in association with the Payments Council Of India (PCI) and IMRB. The report states that nearly 60% of the total value of transactions in 2013 came from online travel, 23% from financial services and 12% from online retailing. Nearly 80% of these transactions were dominated by desktop personal computers and laptops, with smaller contribution from mobile phones and tablets. However, the report expects phones and tablets to contribute close to 30% by 2020. The four metros—Delhi, Mumbai, Kolkata and Chennai—contributed about 60% of the total digital payment gateway market size, followed by Bangalore, Hyderabad, Ahmedabad, Pune which together contributed 25% in 2013. The report said that about 53% of the 800 million online transactions made in 2013 were made using credit and debit cards while 44% came from Internet banking. The rest were attributed to Mobile Wallet, Pre-Paid Cash cards and Immediate Payment systems (IMPS) over the Internet.
Payment Gateway Scenario In India
Prepaid cards account for only 3 percent of the total debit cards in circulation in India. Currently, the market for prepaid cards in India is estimated to be at $7.98 billion and is growing at a rate of 40 percent each year. Payroll cards dominate the prepaid cards market with a 34 percent share, with travel cards at 19 percent, and multipurpose cards with a 27 percent market share (out of which, gift cards account for 5 percent).Market is highly consolidated among three companies namely Axis Bank, ICICI Bank and Itz Cash Card, accounting for 73 percent of the market value in 2011. There is a huge potential for the expansion of prepaid cards market – if all government and other cash transactions are routed through prepaid cards. Current regulatory landscape favours banks but they focus more on credit and debit cards instead of prepaid cards while non-banking card issuers are constrained by regulations. With adoption across various sectors like online retailing, tourism, transit ticketing, government subsidies and a huge un-banked population, the future of the Indian prepaid cards market is likely to be positive.
About Atom Technologies
Founded in 2006, atom technologies is India’s only Payment Services Provider providing end-to-end payment services over Internet, IVR, Mobile & POS. Headquartered in Mumbai, atom has a strong and well balanced team operating out of 7 locations in India in Delhi, Bangalore, Ahmedabad, Chennai, Kolkata and Hyderabad. atom has both domestic as well as international presence. It has tied up with more than 6000 merchants and has tie-ups with more than 40 banks. With a strong emphasis on protecting sensitive card and card holder data, it has been certified for PCI-DSS Ver 2.0 and PA DSS Ver 2.0. Its processes are certified for ISO 9001:2008 and operate out of a ISO 27001 data center. Atom has been at the forefront of innovation in payment services, whether it is through its IVR offering or Multi bank EMI, Discount Engine, Single Click Express Checkout or load balancing for Internet as well as IVR. Its goal is to help its customers solve their payment problems and ensure higher revenues through user friendly solutions. Today atom’s clients include reputed names from Government, Utilities, DTH, Education, Retail, eTail, Travel and Tourism, Airlines, Ticketing, Insurance, Mutual Funds, Broking, Shopping, Subscriptions and various other verticals. Its payment services accept all instruments and channels be that Credit/Debit Cards, Direct Debit through Net banking or IMPS, or cash/prepaid cards. Headquartered in Mumbai with offices spanning across India, atom is one of the most innovative offerings of the Financial Technologies Group and one of India’s leading Payment Services Providers.atom is India’s only Payment Services Provider, with payment collection facilities through every channel- Online, IVR, Mobile & POS. atom leads the Indian market in the IVR Race
