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) We will be announcing this service in less than a month.
2) at INRBTC the avg volume per day is 10 bitcoins that too because we only buy bitcoins for now. Buysellbitco.in can give a better picture.
1) Awesome.. Feel free to ask any help needed. That is brave step but someone has to start and I appreciate you are trying for that. We need at least some AB test going by bow
2) That is good volume you are generating and I am sure you will be able to do more as people nowadays are using more and more online shopping in India. Your service is much needed to stay as it actually adds some value to economy. Only buying and selling will not help Bitcoin much in India.
Cheers