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eCommerce is a thriving market in India, and we are all aware how Indian and global businesses are trying their best to carve a niche and make the most of the opportunities that exist in the market. The latest to join the bandwagon is <keyword id="2838965" type="UNKNOWN" weightage="20" keywordseo="Kachyng-Inc-">Kachyng Inc.</keyword>, a <keyword id="12161" type="COMPANY" weightage="20" keywordseo="San-Francisco">San Francisco</keyword> based company founded by <keyword id="192262" type="POSITION" weightage="20" keywordseo="serial-entrepreneur">serial entrepreneur</keyword> <keyword id="2838851" type="UNKNOWN" weightage="20" keywordseo="Resh-Wallaja">Resh Wallaja</keyword>, who happens to be <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> of Kachyng Inc. 
 
The payments technology company dedicated to making payments faster, easier and more secure for merchants and consumers has launched its operations in India today. 
 
The company will help eCommerce merchants operating in India convert lost business opportunities by simplifying the tedious, painful and not-so-secure online payment mechanism. 
 
Or in Resh Wallaja’s words, the company is here to solve the root cause of lost sales in the eCommerce business. He says, “India is already en route to become the world’s fastest growing e-commerce market and is expected to exceed $100bn mark by 2020. In the next five years another 30 million merchants will go online and 400 million people will become first time online shoppers. We urgently need a safer and easier way to shop online. Kachyng offers a path-breaking technology solving 90% of the problems faced by both consumers and merchants. By making it easy to securely engage and sell to new and existing consumers, we are here to solve the root cause of lost sales” 
 
But how does he plan to do that? Has he charted out a special strategy for the Indian market? We spoke to Resh Wallaja and here is what he shared. 
 
On competition 
 
Primarily what we do is: allow merchants to reach out to more consumers and help consumers complete their online transactions simply without worrying about the fraud. So, I don’t believe we are competing with any existing players. We are infact very complimentary to existing businesses in eCommerce and financial institutions. 
 
On Indian strategy 
 
Our goal is to empower eCommmerce players trap at least about 20% of the opportunities which exist in the Indian eCommerce market. We would primarily partner and work with premier eCommerce players, financial service institutions and merchant acquirers. So, for example if the company has a point of service ecommerce gateway, so we will work with the eCommerce gateway and give our white-labeled technology which would help them eliminate various steps inmvolved in eCommerce transactions. 
Our business model is simple: we white-label and license our technology to distributors who have existing relationships with merchants and consumers. 
 
 
On their technology 
 Current payment methods require people to remember and maintain too many usernames and passwords, too many keystrokes and clicks. We would help eCommerce players and merchants eliminate all these steps and make eCommerce transactions fun, easy, secure and fast for everyone leveraging Kachyng BUY—our white labelled one-click, instant Omni-channel checkout solution with unmatched security which makes payments from anywhere (browser, app, sms, <keyword id="6354904" type="PERSON" weightage="20" keywordseo="tweet">Tweet</keyword>, app or ad), without usernames or passwords. This unique technology is PCI complaint, covered by 16 patent filings which reduce the 60-220 seconds checkout process to only 3-5 seconds. 
 
 
On future plans &amp; <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">investments</keyword> 
We will initiate a go-to-market strategy with our eCommerce focused partnerships. We intend to accelerate our expansion through partnerships and by gradually building different channels, including eCommerce companies, advertisers, card issuers, payment processors and shopping app developers. We are already having discussions with payment gateways and eCommerce players and hopefully would be able to announce them in upcoming months. 
As far as investments are concerned, we would put a majority of it in expanding our operations in the country. Moreover, in the next 12 months, we would double our staff strength in Chennai R&amp; D centre. Our goal primarily is going to be the technology provider in India. 
 
Kachyng Inc., is a San Francisco based company dedicated to making payments faster, easier and more secure for merchants and consumers. Kachyng’s patented technology harnesses the ubiquity of mobile phones in today’s world to allow people to pay with one click and anywhere on the Internet.

A startup plans to
minimise $10Bn of revenue loss of eCommerce players in India. Here is how

How many times have you backed out from buying something online just because there are too many steps to go through before you actually end up owning the product? If you’ve lost the count then don’t worry, nothing’s wrong with you, instead you should blame the amount of steps that one comes across (for security sakes) to buy online. 
 
So how long before things become better and buying online becomes as easy as buying from your local store? By the looks of it, those days aren’t far from turning into reality for the mobile crowd. Kachyng is going to do that for all and you know what the best part is? It’s easy and secure. 
 
The start-up is looking to join hands with major financial institutions in a bid simply payment processes, making it click worthy and less cumbersome. With the promise of ‘one-click’ online shopping, Kachyng will never make itself visible in the market; instead they’ll help banks and online merchants to integrate the payment process to their respective products. Resh Wallaja, the brainchild behind Kachyng hopes to make mobile payments the most popular mechanism in the near future. 
 
Based out of San-Francisco, Kachyng has the ambition to become the best possible Amazon-buy alternative, which unlike its bigger peer, is agnostic in nature and not confined one particular platform or medium. “Unlike the Amazon-buy which is only there for users on Amazon.com, Kachyng is being serviced to users across; desktop, mobile and in the form of internet browser version as well”, Wallaja confirmed. 
 
Better than 2-factor authentication? 
It would be foolish to assume the relevance of something like a one-click payment system but in many ways, it could be a better option than the existing two-factor model that most of merchants (including Apple) have been practicing. 
 
Easy but secure 
Simple processes usually end up being fragile and breachable but Wallaja promises Kachyng adheres to the stringent security layers that are globally accepted. It would be hard to go by his word but we’ve got nothing to lose, even if it works out the other way around. 
 
Interestingly, Kachyng isn’t limited to use on PCs or smartphone (via app) and as highlighted by Wallaja, it works even if the user has a smartphone. This way, e-commerce merchants will be able to tap into the non-smartphone users, something that works in market like India. And unlike most payment gateways, Kachyng enables payment process via OTP model which gets transmitted to your registered number via call rather than SMS. “Most of us are not familiar with the unsecured channels of sending in SMS which is why we have dissected the payment confirmation process via OTP number send to you in the form of phone call,” Wallaja adds. 
 
Available on both iOS and Android platform, the company is talking to financial clients in order to get Kachyng up and running.

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