Klinnk – The PayPal of India?

Today I come to know that TimesOfMoney, the company behind many payment and money transfer services including Remit2India.com, has announced Klinnk.com. According to the information –

“Klinnk is a revolutionary new way to manage one’s online transactions in India. Klinnk users could either be individuals or merchants looking out for a more safe, secure and faster way of processing online transactions.

Klinnk is a bank neutral offering to the Indian customers over Internet with many features like Klinnk on Mobile, IVR, SMS and Prepaid Cards to be rolled out in future.”

Like PayPal, there is no Setup or AMC (Annual Maintenance Cost). There is only TDR (Transaction fee) of 3.5%. Transaction fee looks in line with PayPal who charges “2.9% transaction fee + $0.30 USD.” Like PayPal they also have merchant solutions.

Let us wait and see how does it fair?

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