Quote from: shahadil on November 18, 2015, 04:21:02 PM

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A very cool service, if someone is looking at opportunities, would be to process fiat payments for Bitcoin companies in India.
That way, the service levels and last mile fund transfer can be maintained by the processor, while companies can use their services for a fee.

Aren't there already services like these for other companies?

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1. Initial withdrawal limits given to us by banks are 10 Lacks a day. We have now increased the limits to 35 Lacks a day. We have requested to increase these limits even further. So, this issue has already been resolved. We get daily withdrawal requests of 20 lacks on an average as of now.

Thank you for being open. much appreciated.

if you all keep adding banks, it will create only hassle for you. as consolidating money across various banks will be so much hassle, you all will end up moving money between your own accounts only. I am sure you all have data as to the banks majority of your customers use. Just pick the top 2-3 only

As of the PSS Act by the RBI, They are not supposed to provide payment gateways to companies who are storing customers funds. These gateways must be used for purchasing products and services. None of these gateway providers are giving any company in India their gateway who are storing customers funds. We have found out a way to solve this issue, but we are still working on it. Even after getting the gateway, The major problem is the charges, 3.5% will be charged on each deposits. For e-commerce, they bear these charges from their own pockets as they already have margins in the product they are selling. For us , bearing 3.5% on each deposit does not make sense, so either user pays 3.5% or they use normal channels to deposit fiat.

Adding more banks and maintaining them is not at all a problem for us. All banks provides net banking and stuff which enables us to transfer funds to our another bank within minutes. Though, 90% of the funds our customers deposits , is in AXIS bank, Not sure why our customers are not using ICICI for deposits.

Mohit Kalra
Coinsecure.in