The gateway would then enable the investor to not only subscribe to the primary issue online, but also make payments and complete the transaction fully through the site. "Currently, a lot of the remaining payment and settlement work has to be conducted offline. With the gateway, this problem will be eliminated, and the payments can also be completed on the Net," Mr Dash explained.

He said the company is talking to other banks as well, which have Internet transaction capabilities, to try and get them into the payment gateway. With NSDL also getting active in pushing for dematerialisation of debt trading, the tieup between COL and NSDL, if it happens, will also give a big push to demat debt trading on the Net. Flex eX Technologies, another group company, is a global technology products company, and focuses on the development of tools for flexible exchanges. It will also play a crucial role in the proposed payment gateway, Mr Dash said. The negotiating platform Riskxpress is being developed as a tool for both the primary and the secondary debt market. The site caters to short term as well as long term borrowers and investors.