Creating a Payment Gateway Account

When you start a company, having an online store become essential. Especially when you start a SaaS business, getting the transaction done through online is one of the critical activities. Setting up store is comparatively easy in US. Most of the Payment Gateways support USD and transaction in US. If you want to do transaction in other currency or setting up store in other countries, the payment gateway must have international transactions enabled.

Identify the top few service providers. Check whether they are fulfilling your requirements. Then check charges for the transactions. The charges will be between 2.15% and 2.75% in addition to $0.25 per transaction. The rate for recurring billing will be different. Discuss with the service provider and get the account creation link. They will send you the account creation form after getting details like Transaction Volume, whether you have used the online transaction or not etc. 

If you are freshly starting the online transaction, you have to submit the company’s last two years revenue report. Once you receive the link, you have to fill the form and activate the account. 

For this, you need the below details

• Payment Processor
• Employee ID Number (TaxID) or SSN number of the owner
• US Bank Account
• Bank Name
• Routing Number
• Bank Account Number
• Bank Address
• US Billing Info.

You have to have a US bank account to start any sign up with the payment gateway. In addition to the Gateway you have to sign up with a processor. For doing transaction in AMEX, you must have the AMEX processor signed separately. The service provider like Merchente-Solutions will automatically link the AMEX processor to the gateway in addition to the Visa and Master card processors. 

In India, if you want to set up the store, it is very difficult. Most of the payment gateways like Google Checkout, PayPal, Authorize.net, ChasePaymentTech. are not supporting INR. In addition, from March 2011 onwards, these gateway providers must sign an agreement with RBI. If they don't sign that agreement, they are not authorized to provide online transaction service. Many providers not want to sign the agreement and stopped supporting in India. PayPal is working on the agreement (may be ready by this time) and they will definitely provide service in India.

Saravanan

Where is TN education system heading to?

At last the "Samacheerkalvi" has been in place after the Supreme court order. Is it the right? Is the syllabus is in competing with CBSE? Can we expect the kids will gain knowledge through the existing system?

There are different thoughts among parents. Many gave the comment that the syllabus is nowhere near the CBSE or Matriculation syllabus. It is two grade lower compared to the CBSE/Matriculation syllabus.

I was comparing the syllabus of two subjects Maths and Science. Maths syllabus was ok, but Science (which is core) is having very less content and in fact it is three grades lower than the CBSE. I just compared the syllabus only. The content and the type of evaluation are other factors that are entirely different topic.

Already the college education system is in a worst shape whereas the students are wasting three/four years of their life in reading subjects that are not at all helping their future life. If the basic education also in that direction, then it is going to be tough time for the kids.

In AP, more schools are becoming CBE in rural areas and the standard of the students in villages are improving. But in TN, we are doing the other way by bringing down the town/city students’ standard and we are keeping the village schools standard same. This is going to affect the next generation greatly.

In the present system there were very few students entering into IITs from TN. Last year we had only 200+ students from TN qualified for IITs where as 1500 + students got IITs from AP. There are other factors behind this count. Even then the number of students entering IIT from AP is 7 imes more than from TN.

TN had a poor performance in service commission exams few years back and now the trend has changed. In the recent years it has been changed. More people are getting top ranks in the service commission exams. The credit goes to few individuals/private centers that train and encourage students at free of cost or affordable cost. We hope the same will happen to our school education also.

Now most of the Matriculation teachers are uncomfortable with the syllabus and many of the managements are thinking of alternative. Mostly they will move from Matriculation system to CBSE. I feel in the next couple of years many schools will apply for the CBSE board and will move to CBSE system of education.

Saravanan

Google is aggressive in Acquisition

Google has been very aggressive in acquiring companies in different domain. Last week they acquired "Zave Networks" a digital coupon company. Already Google has "Google Offers" to compete with Groupon, adds Zave Networks to strengthen the service in that domain.

This year Google already acquired 18 companies. This is the second max. acquisition in any year (in 2010 it acquires 27 companies). They are acquiring companies in different domain. The major acquisition this year includes, Motorola Mobility (Android), AdMeld (online Advertising), BeatThatQuote (Price Comparison), Deal Map.

Last year they acquired ITA Software (online flight booking), Like.com (Visual Search Engine), Slide.com (Social Gaming) etc.

Google is proving that instead of developing in-house products/services, by acquiring companies that are strong in a particular domain, they can broaden their product line. As Google culture is always better than other companies, they are not getting any major issue in that area. In addition, they are doing more acquisition, and so they are becoming expert in addressing the culture problem. 

They are moving clearly in all directions and are going to be the most successful company for next few decades. 

Saravanan