Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him a Josh Ong is the US Editor at The Next Web. He previously worked as TNW's China Editor and LA Reporter. Follow him on Twitter or email him at [email protected].
Flipkart, often described as India’s Amazon, has announced support for international credit cards with the help of Visa’s CyberSource.
The move will allow overseas customers to make purchases for loved ones within India, so it doesn’t exactly put the company on the global stage. It is, however, a crucial step in the growth of the retailer.
CyberSource will provide fraud management services for Flipkart alongside the company’s own fraud detection system.
“With this strategic initiative, we have now opened up a much larger market for international customers who are increasingly looking to buy and ship gifts/products within India, without compromising on our high focus on online safety and security,” Mekin Maheswari, Flipkart’s GM, Payments and Digital Media, said of the endeavor.
Last year, Flipkart received its Payment Card Industry Data Security Standard (PCI-DSS) 2.0 certification for card processing, allowing it to begin saving card information on its website.
Flipkart raised a monster $150 million round of funding last year. The company took the funds in order to take its business to the next level, as it aims for profitability by 2015. The retailer was profitable early on after launching in 2007, but profits have since taken a backseat to growth. It’s had an impressive run so far in its home country, and it should attract more international attention now that it accepts overseas cards.
See also: Digital music takes off for India’s Flipkart, as Flyte soars past 600,000 downloads in 6 months
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