Quote from: devansh1991 on July 18, 2013, 11:05:40 AM

Quote from: inrbtcad on July 18, 2013, 06:20:44 AM

The volume on a per day basis is still below Rs 1 lakh. I am not using any cash channels, all the business is done through NEFT only.
Though I cannot say that it will be payment gateway in a full sense, merchants in India can now get their customers bitcoins sent to their specific address and the amount will be deposited in their bank accounts daily.

My experience so far is ...the volumes are low....test your ideas...if it not fully automated...make a semi automated setup...but the get service out. the true validator of your business are the customers not the regulatory agencies.

1) What is stopping you from setting up a payment gateway?

2) Would i be wrong to say that 50 coins change hand every day in India?

1) Payment gateway, means you want shops to accept bitcoin via processor you provide them, like bitpay ? Well, nothing stops you for doing that as far as I can think. The only thing is will it justify the cost you will incur for the infrastructure and running these operations ? Frankly speaking it will not at least now. There are three types of major bitcoin users in India and operating in India
a) Who speculate and invest it for future, holding their breath that it will some day go to sky and they will be able to book profit.
b) Those who mine and want to sell as long as they are making some profit as per the BTC rates
c) Middleman like us, Bit_India and lot more who works as meeting point for a and b and gets their cut

There are several other minor users in India
x) Traders. They do not operate in India. They directly work with MtGox, Bitstamp and X, Y, Z. But normally does not worrk with C in above. Why ? Well the % cut of c in India is a bit ted high for them and they can not justify it. They do a good volume, more than 50 BTC for sure. If you want to open exchange try to eye them. It will be very hard for you to get them in as they are used to work with liquidity which will be chicken egg problem for you.
y) Buyers. This segment buys bitcoin to purchase something

I dont know about their numbers as they do not want to get verified.
z) Hobbyists. They know about bitcoin and want to do something about it and own some bitcoins. They normally do not take part in trading etc and they are not the segment you should look at. They are good for brain storming and getting help.

Try to find out the best customer segment to pitch for payment gateway.

2) 50 BTC.. If you want monthly average it is surely more than 1500 BTC

Let me give you hint BTC goes down you get buyers, BTC goes up you get sellers.

Cheers