PayUMoney is a fin-tech company which provides payment technology to individuals and online merchants. It provides payment solutions to unregistered business as well in India. It provides a payment gateway for applications and websites. PayUMoney is one of the payment apps which provides convenience for its users apart from assuring safety digital payments. Most of the registered and unregistered companies in India have adopted this app as their payment gateway.
PayUMoney is a flagship company of Naspers, founded in 2002.
As of 2018, the company’s services are available at around 17 countries.
PayU is the result of multiple payment gateways across the various regions of the globe which has been acquired and bought under the PayU group. During 2014, all the online companies which were earlier part of the Naspers started to operate under the PayU brand.
PayUMoney is a payment app is adopted by several business houses in India which includes BookMyShow, Jabong, YEP ME, Amity University, Zomato, Travelyaari and so on. Apart from this, the e-wallet has partnered with major banks including CitiBank, ICICI, IndusInd, HDFC and so on. Its association with leading banks and business makes transactions safe and trustworthy for making and receiving payments for both individuals and businesses.
The amount will be transferred to the seller only when they send proof of product delivery or the users explicitly orders to transfer money to the seller. By adopting this method, the customer’s money will be safeguarded at all the circumstances.
The users of PayUMoney helps to receive or sent the payments across the globe within a few minutes using PayU’s international payments acceptance feature. The feature helps the customers to pay using their preferred currency
Step 1: Download the PayUMoney Wallet on your phone
Step 2: Register yourself by entering your e-mail ID, mobile number
Step 3: Enter the OTP which will be sent to your registered mobile number
Step 4: Click on the Activate button
Now, you are ready to use the PayUMoney Wallet
Step 1: Choose the products or services which you prefer to buy
Step 2: Pay through the PayU payment system either through credit or debit card or bank transfer. PayU app validates the transaction information using its fraud detection system
Step 3: You will receive an e-mail confirming your payment.
The users of PayUMoney Wallet can either load money using their respective credit or debit card or using net banking facility.
To add money to PayUMoney App, either through debit or credit card, first, enter your debit or credit card number followed by the expiry date of the card and CVV number which is mentioned on the backside of your card and your name as mentioned on the card.
Step 1: Click on Net Banking
Step 2: Select the bank name from the drop-down list
Step 3: Click on Pay Now option
Step 4: Enter your bank login credentials
Step 5: Click on the ‘Submit’ option to complete the process
The users have an option to transfer money from PayUMoney Wallet to their respective bank account, but they will have to wait for 7 days for the process to get completed. The PayUMoney will charge a fee of 2.5% for the transfer of money from its wallet and there will be no charges levied if it is a refund case.
All requires a change and nothing means more when it comes to businesses than an enhanced and better method of keeping a tab on any aspect (especially the money). You'll be willing to do just that with the latest PayUmoney dashboard: expand your business with crucial information on transactions you really have to know. You can see all the transfers in the latest PayUmoney Dashboard highlighted as:
Recent updates for existing merchants in the PayUmoney Dashboard is Transactions Tab. PayUmoney business dashboard also comes with a perfect ledger view enabling you to manually monitor all of your transactions. You will find out in the Ledger view:
Just as online payments are processed through a payment gateway, the refund process are also goes through the same. All the wallet companies are involved in the situation of reimbursement. They have their own online payment processing methods, mechanisms, and authentication factor. Many of these methods require human support and not automation. At some stage, a minor delay in such procedures becomes responsible for slowing the further step. Which in drag prolongs the schedule for the refund. Customers may receive refunds in their accounts within 5-10 days, in typical situations. In certain exceptional cases, however, it may take longer than 10 days mainly because of technical defects. Refunds triggered by an individual has so many reasons some of the scenarios are mentioned below:
You can request for a refund from your PayUmoney dashboard. Please follow the steps mentioned below to get your refund.
Note: You will be not charged for initiating the refund. However, the transaction fee charged during the initial processing of the transaction will not be recovered. Refund will proceed on the same day The refund balance may take 5 to 21 days to reflect in your account. For Netbanking transactions, it may take several more days for some government banks. You can also drop a request via the PayUmoney contact us page, in case you are not able to initiate the refund from the dashboard. To raise a request, select the 'Refund Related’ option in the Issue type, and you are done.
The department of Merchant Care was established to generate support to PayUmoney-registered merchants. This is the first contact point for any merchant who wishes for the PayUmoney registration process, or who is already enrolled with PayUmoney. Merchant Care manages all the necessary inquiries on behalf of the trader and interacts with different service teams within PayUmoney to generate end-to-end services. PayUmoney allows zero cost merchant registration process with numerous offers and discounts.
The collection of payments without any issues is a suitable platform for small start-ups and unregistered companies. With PayUmoney companies can expand their customer touch without promoting their brands or services. Even small companies of high-quality goods and services can expand their customer circle with PayUmoney through which they can take advantage of the potential to enhance their brand value in the market. In terms of criteria, generating a PayUmoney merchant account is quite easy. But make sure that you have the below-listed documents to generate merchant account:
Follow the instructions below to get your PayUMoney Merchant Key and Merchant Salt Live credentials with ease.
PayU gateway allows Indian companies to accept online payments with all payment methods including credit card, debit card, net banking, UPI, etc. Payment Options under PayUMoney Payment Gateway are as follows:
Cards, Wallet and Net Banking
Master, Visa, Amex, Diners, Maestro, Rupay, PayUmoney, More than 45 types of Net Banking, and over 6 types of wallets are accepted.
Acceptance of International Cards
Accept all the International cards with an activation time period of 48 hours for International Acceptance.
Supported all the EMI Payment of all the major banks across India such as HDFC, ICICI, Citi, Axis, SBI, etc.
Payments are received via Email or SMS. It can be used from the panel as well as through API.
IVR Payments (Interactive Voice Response) is a feature that helps you to make purchases over the telephone for bills, dues, and contributions by interacting with an automated system.
Multi-Currency Payment Acceptance
With Multi-Currency Payment option 13 Currencies like USD, GBP, EUR, etc allows your customers to pay for your business according to his/her currency.
Use PayUMoney to get a simple and secure way to accept payments. Features and benefits of PayUMoney Payment Gateway are as follows: