Gurgaon based online payment enabler PayU has launched PayUPaisa – a web based product which enables buyers and sellers to pay and receive payments in few minutes (we earlier covered Pearson’s integration of PowerSchool with PayuPaisa). The service is completely free and individuals can also open web store with integrated features such as free store front and email invoicing.
The service weeds out the cumbersome documentation process while integrating payment gateways. Through its webstore feature, the company allows individual or businesses to upload their store logo, important informations such as contact details, images including catalogue.
PayUPaisa can be accessed via FaceBook and email account and consumers need to feed their PAN account number to receive payments online.
Besides these, the Nasper owned company also allows users to pay utilities, school and society bill. Currently, PayUPaisa has more than 150 live merchants on the platform across catgories such as Books, apparels, handicraft, events and sponsorship amongst others.
On security front, like SnapDeal’s Trust pay, PayUPaisa holds the buyer money through nodal banks until the buyer confirms the delivery. In terms of pricing, PayUPaisa charges zero upfront cost, however charges 3.2% plus Rs. 3 for every transaction exclusive of taxes.
Is it a disruption on payment front? To a certain extent, yes. PayuPaisa brings more power to individuals and small businesses to do end to end transaction over the web.
What are your thoughts?