PayU India is about to launch a new online payment solution PayU Paisa. It is on their model to redefine and simplify online payments in India which is a high potential market.
Pay U Paisa for sellers
It will allow sellers right from new integration with the PayU Paisa Gateway, plus inbuilt email invoicing, webstore creation & designing.
Pay U Paisa for shoppers
Pay U Paisa offers security to those who are buying a product using their payment gateway. It keeps money with itself until it receives the information of the delivery from the seller.
Online payments has been among top challenges for growth of eCommerce in India. With the industry average for 60% conversion rate, the payment gateway dropouts are the hardest truth for any online retailer. Even more to that are the retailers not able to deliver the product after the successful order placement. PayU Paisa, with the customization as per current Indian e commerce market scenario will try to capitalize the opportunity with its extended services.
The other payment gateways in the market has also been trying to safeguard their customers but has not openly committed their policies to customer to bring in transparency. Similar to PayU, recently Snapdeal also brought in TrustPay to safeguard the buyers from various vendors on Snapdeal Marketplace.
PayU India is a payment gateway solutions provider and a part of Naspers group. The company claims 4000 merchants and includes clients such as Ferns n Petals, Bookmyshow, Groupon India.