June 7, 2011

P2P Online Money Transfer / Payment Gateway: ZaakPay

ZaakPay, a Delhi based payment gateway startup, has launched P2P online money transfer services. 

How ZaakPay online payment gateway works

1. Signup with your email ID and enter your bank details.
2. Set your daily limits and get a mandate signed from your bank to allow ZaakPay to debit your account for that amount.
3. Upload the stamped mandate for Zaakpay to verify. Once verified, you are ready to transfer funds between accounts.

Some more details about the P2P Online Money Transfer / Payment Gateway

  • Zaakpay is free for senders 
  • Zaakpay charges a flat fee of Rs.10 per transaction to recipients.  
  • ZaakPay supports 90 banks currently and will enabling card payment soon. 
  • ZaakPay allows recurring payments as well.

Potential issues

Offline paperwork to get started.

Potential competition

CCavenue, Time of Money

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