The company provides payment solutions which help consumers make online payments. Current online payment gateways take up to eight screens and a customer may be required to fill in 20 data fields. Citrus Pay’s interface requires not more than two steps to complete a payment. The start-up has acquired more than 550 merchants and is currently processing 11,000 transactions a day.
The Indian online payments space is estimated to be worth USD 20 billion currently and the company expects it to grow to USD 50 billion by 2015. The travel e-commerce sector is most profitable, but other categories are expected to catch up in the coming years.
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