PayU India unveils PayUPaisa; an online payment solution for masses
Thursday April 18, 2013,
2 min Read
PayU India, the online payment company, today launched PayUPaisa, a web based product which empowers buyers to pay and sellers to get paid online.
The product is free for sellers and provides beneficial selling tools like a free webstore, free storefront and email invoicing. On the other hand, PayUPaisa has a strong dispute resolution centre to safeguard buyers and keep their money safe even when they have paid for a product or service.
"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,” quoted Nitin Gupta, Co-founder and CEO at PayU India.
Why Sellers will use PayUPaisa:
What actually hinders a seller in India to come online and sell? (a) Seller needs to invest time and money in making a website (b) Investment required in getting a payment gateway (c) Series of documentation process which has a significant lead time
PayUPaisa will try yo solve all these 3 problems.
Free and fast: PayUPaisa enables a seller to make a free webstore where the seller can upload the logo of his store, information regarding the store, contact details etc. He can upload as many product as he wants along with product images. Once he’s through this process, he can publish his store on web and publicise the URL of his store. By default every store on PayUPaisa has a free payment gateway integrated in it (powered by PayU).
All online: For the first time, a payment company has introduced the concept of completely Online Documentation.
A PayUPaisa store looks like:
Seller Use Cases: Who can be a seller on PayUPaisa? Virtually anyone! Be it a small handicraft seller in chandi chowk or an individual who wants to sell paintings online.
Why Buyers will use PayUPaisa: Because PayUPaisa safeguard buyer’s money and protect him through its strong dispute resolution process. PayUPaisa has various safety checkpoints to make online buying totally safe.