The payments sector in India was quite stagnant for many years with only a few handful of companies like CCAvenue, BillDesk providing payment gateway services to online businesses. Now, newer players like CitrusPay, ZaakPay and PayU have jumped into the fray and are changing the scenario positively for small businesses and buyers alike.
PayU, known for its aggressive pricing compared to other payment gateway services in the country has announced today that it has launched a new service called PayU Paisa which seeks to make payments even more simpler for buyers and merchants alike. PayU Paisa is a free web-based product which includes important e-commerce tools like a web store, store front and email invoicing in addition to tight customer support. The product is free to use and requires a sign-up.
PayU Paisa is designed in such a way that you don’t need any technical knowledge to set up your store and all this take very little time to set up. This is especially important because the lack of technical knowledge has long affected small businesses and freelancers in terms of selling their goods digitally. The company says that it has focused on providing support and resolutions to buyers and sellers in case conflicts arise when a buyer buys stuff from PayU Paisa enabled stores. The product can be used in a standalone kind of way and can also be integrated into your website.
Nitin Gupta, CEO of PayU India, spoke about the new product,
“For a country like ours which has a population of over 1.2 billion out of which more than 300 Million have a bank account, and an internet penetration which exceeds 150 million; only fewer than 7 million people actively buying online is a miniscule number. What is even more disappointing is that with over 30 Million SMEs and around 5 Million freelancers in India, fewer than 10,000 people sell online today. PayUPaisa was born out of these needs and intends to solve the above problems. Our objective is to enable 1 million sellers and 20 million buyers on PayUPaisa platform in the next 3. We will redefine the way payments will happen in this country and believe PayUPaisa is a market disrupting payment solution.”
I think this simplification of the otherwise tedious payment gateway process is a great thing and many other payment companies in the country should try to cater to SMEs and freelancers in the country.
You can go through the complete list of features by visiting PayU Paisa’s website.
Website | PayU Paisa
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