Anyone who has considered offering a payment gateway in India is probably (painfully) familiar with Transecute. The firm is a sister concern of Directi, a domain registrar and parent company of, amongst others, the webhoster, Bigrock. It now appears that Directi is phasing out support for Transecute in favour of a new service, Pay.pw.
The .pw ccTLD while originally representing the tiny (pop. 21,000) Pacific island country of Palau, is now being handled by Directi who have rebranded it as the TLD for the "professional web". One of the initiatives the company appears to have taken is to use it for one of its own services in Pay.pw. The TLD is going to be launched (well, relaunched) later this month.
The gateway seems to be fully functional as Directi is promoting it as a payment option. They have additionally stated (unconfirmed report) that it is to be preferred over Transecute. Furthermore, seeing as to how PayPal has had a nightmarish time over the last few years dealing with bureaucratic red tape, Pay.pw might make a play for the domestic market. That said, there were reports last year stating that PayPal had also gained approval for a similar endeavour.
For some, the entry of new players into the market can signify savings of ~2.5% per transaction.