September 27 2011: Hyderabad-based EBS, India’s second largest on-line payment provider, has acquired by Ogone, a leading European player in the same space. The acquisition marks Ogone’s first foray outside of the European market and into the rapidly expanding Indian on-line payments market. EBS will continue to operate under its current management structure and market approach , retaining its name and brand in the Indian market and will be responsible for running the operations and the continued expansion of the company.
Says Nishanth Chandran, Co-Founder & CEO of EBS: “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.”
Adds Peter De Caluwe, CEO of Ogone Payment Services : “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.”
Ogone Payment Services (www.ogone.com ) is one of the main European service providers specialised in the processing of online payments, with more than 30.000 customers in 45 countries. Ogone Payment Services is connected to the banks by certified interfaces and hence is able to handle international methods of payment such as Visa, MasterCard, American Express, Diners Club and PayPal as well as local payment methods, including iDeal and Machtigingen in the Netherlands, Maestro UK in the United Kingdom, Bancontact/Mister Cash in Belgium, ELV and giropay in Germany, Carte Bleue in France, Dankort and eDankort in Denmark etc. Ogone Payment Services has offices in Belgium, the Netherlands, France, Germany, Switzerland, Austria and the United Kingdom.
E-Billing Solutions ( www.ebs.in ) was incorporated in 2005 by young entrepreneurs who came together to offer a comprehensive and easy solution for the e-commerce industry. EBS is a pioneer to associate with multiple acquiring Banks for providing Payment Gateway services to offer Master, Visa, Diners, Netbanking & Cash Card brands on a single platform. Our offices are spread out in the Metros of Mumbai, Hyderabad & Chennai . EBS has created Net banking solutions for HDFC and Axis and payment gateways for Kerala Tourism. Sep 27 2011