So many PayU payment feature updates, in so little time!
Recently, we introduced 6 new features namely – Subscriptions, International Payments, Same Day Settlements, Payouts, Update Bank Account Yourself and PayU Assist for all our merchants. All these features help our merchants to accept/disburse payments easily and grow their business!
In this post, I have explained each one of these features and its benefits for the businesses.
1.Subscriptions – One of the most challenging tasks for any business is to get recurring payments. With Subscriptions feature, you can set up and manage your recurring payments easily.
PayUmoney’s Subscriptions feature allows you to set up subscriptions plans that best meet the needs of your customers. You can create a weekly, monthly or yearly subscription plan or 3 levels of subscriptions with different pricing and services and collect payments effortlessly. Subscriptions make lives easier for both – the business provider and the customer.
I would recommend you offer subscriptions service to your customers if you haven’t already! PayUmoney offers Subscription APIs that can be integrated quickly and easily on your website. Click here for Subscription APIs and to know more benefits of Subscription-based payments.
This is how a subscriptions page looks like on the PayUmoney dashboard:
2. International Payments – Today, all online businesses aspire to go global! Expanding internationally helps in generating more revenue and a greater reach to people.
With a payment solution provider such as PayUmoney, you don’t need to worry about collecting payments in multi-currency from your customers. We understand that customers would come back to shop from your website only if they get an option to pay in their local currency.
Hence, with PayU’s International payments feature, we allow you to accept payments in 100+ currencies and make the whole payment experience smooth for national as well as your international customers.
Also, we are proud to share that we have been doing great in our International Payments Business. Read this story: PayU India Services Over 1Lakh Merchants in International Payments Business!
3. Same Day Settlement – We know small businesses and startups rely on their daily sales to maintain and improve cash flow in their business.
Read here: 6 Tips to Improve Your Business’ Cash Flow
Having money in the bank helps in keeping everything moving, whether its employees’ salaries or electricity bills! And it goes without saying, getting money on the same day gives a boost to the business and helps in managing the day to day activities.
With PayU’s Same Day Settlement Feature, merchants can receive settlements on the same day of the transaction, via IMPS. They simply need to get in touch with their Relationship Manager and sign the agreement. Read this for more details: Introducing Same Day Settlements for PayUmoney Merchants
4. Payouts – We all know how business work! There are times when we get busy in our work so much that we forget to release payments. And when we realise it, the banking hours are over! What do you do in such situations? Well, there is no option but to wait for the next day!
After talking to our various merchants and discovering that they were facing similar issues too, we recently launched PayU Payouts.
PayU Payouts is an easy and automated way to disburse bulk payments to any account instantly, at any time! Businesses can integrate Payouts in their system through API and send money to their receivers’ accounts via IMPS, NEFT or UPI.
Apart from making immediate bulk transfers via the widest range of online payment methods, you will also be able to track and download transaction reports easily through your PayUmoney dashboard. This will help you manage your payments and grow your business!
If you are already a PayUmoney merchant, click here to get started by signing an additional agreement.
If you are not a PayUmoney merchant we would suggest you read about this feature more, with this one minute read: Disburse Bulk Payments in Minutes with PayU Payouts
5. Update Bank Account Yourself – If you ever switch or change your bank account, no need to worry in getting it updated on your PayUmoney account. You will not have to reach out to the customer care team or share your documents again, just do it yourself in 3 simple steps!!!
This feature will help you save on a lot of time and use it on other aspects of your business. Also, you will start receiving payments in your new account just 24 hours post update.
To know more about how to Update Bank Account on PayUmoney Yourself, read our article!
6. PayU Assist – Customer service plays a huge role in the growth of a company. At PayU, we make sure that all your queries are resolved on time so that you can perform and deliver better. With this in mind, we recently launched “PayU Assist – One Place to Resolve All Your Queries”.
It is easily accessible on help.payu.in. Chat with the PayU Buddy to find answers to all your queries. If still not satisfied, you can raise a ticket (and also keep a track of it).
Try Other PayU Payments Features:
- PayU Payment Links: Know How to Accept Payments Online Using PayU Payment Links
- PayU Buttons: Add a Payments Button on Website or Blog and start collecting payments in no time!
By using these newly launched features, you can manage your payments as well as grow your business!
Still not sure on how to proceed further?