More than half of the global population has access to a digital wallet, and more than 40% of those people are expected to make purchases online by 2021. The Global E-Commerce Report by Forrester Research predicts that e-commerce sales will grow more than 8% per year until 2020, but with billions being spent on marketing, we need to focus on our customers’ needs rather than ours. 

The proven payment gateway strategy

PayU is a payment gateway that is used to process payments on your website. I can do this through credit card processing or debit card processing. In the case of PayU, they provide both services to merchants in many industries, including restaurants and hotels, and online marketplaces like Amazon and eBay. PayU also provides merchants access to data storage services for sensitive customer information and fraud protection features. This lets customers make purchases on their website without ever having to leave the page or enter their card details.

Challenges faced by businesses that PayU overcomes 

Introduce customer-friendly payment services across multiple devices and platforms to re-engineer the payment experience for customers and merchants.

PayU is a leading payment gateway and wants to introduce customer-friendly payment services across multiple devices and platforms. You have identified a need for a platform that will allow you to re-engineer the payment experience for both customers and merchants.

In this scenario, you have decided that PayU is the perfect fit for your needs:

• It offers all the functionality needed for eCommerce merchants, including risk assessment and fraud detection capabilities;
• It has extensive APIs (Application Programming Interfaces), enabling integration with third-party systems;
• Its apps are highly customizable, allowing them to be tailored according to individual business requirements;
• The company provides 24/7 support via phone or email at any time of day or night should there be an issue when using one of their products on any day except Sunday, which is their holiday, so this reduces risk even further!

Proving Solutions for Secure Transaction

Develop a customer-friendly payment gateway that supports multiple browsers and devices, ensuring secure transactions; improve collections and settlement processes with the Ensemble analytics platform; create a merchant portal using eLink Commerce Suite, serving as a single point of access for testing, reporting, booking and maintaining accounts; integrate various reporting tools for robust reporting capabilities; implement recurring payments to simplify transaction cycles for both customers and merchants; provide online subscription management to facilitate onetime payments or recurring subscriptions.

PayU: A payment gateway is a solution that enables companies and their merchants to accept payments from customers using a wide range of devices, browsers, and operating systems. The PayU payment gateway supports multiple browsers and devices, ensuring secure transactions for both customers and merchants.

The Ensemble analytics platform allows for improved collection and settlement processes by providing data on how much money has been collected, what was charged to the customer’s card, how much money was returned to the merchant, and when payments are made.

The merchant portal allows for testing, reporting, booking, and maintaining accounts and creating a single point of access for users who want to manage their accounts online. 

The recurring payments feature simplifies transaction cycles by allowing customers and merchants to make onetime or recurring payments without entering complex transaction codes each time they want to pay someone back (or vice versa).

The payment gateway also provides online subscription management features so that merchants can offer onetime or recurring subscriptions directly through their website without having to worry about handling complex payment processing systems that may not be compatible with their needs (or even understand them!).

Zero setup fees and instant activation

You can pay without having to create an account or register. You just have to enter your credit card details, and you’re done!

The zero setup fees and instant activation make it easy for merchants and customers alike. There are no hidden charges or fees that come with using PayU Wallet: no sudden charges on your bill, no extra money spent on the transaction itself—just a quick payment process between two parties who trust each other enough not only to send money but also for it to be received in full by both parties involved (and without any mess or fuss).

Easy integration with leading shopping carts and marketplaces

Mode of Payment (MOP) is the most common method of payment for online transactions. It’s also the easiest and fastest way to get started. You can easily integrate with leading shopping carts, marketplaces, and payment gateways using PayU for 2022’s MOP API integration service.

You’ll be able to accept payments from customers all over the world with one click with PayU!

Comprehensive customer support by phone, email, and chat

You will be able to get customer support by phone, email, and chat. The team at PayU is available 24/7 to answer your questions and speedily resolve issues at their website. If you prefer live chat with a representative, please feel free to use their online chat feature which is available 24x7x365 days a year! One can raise a ticket to their website for any issue. Learn more here. Payment verification specialists are on standby 24/7, ready to assist customers who need assistance with their transactions on the platform as well.

Choose the best mode of payment for your business and scale it up fast.

Choosing the best mode of payment for your business and scaling it up fast is essential.

The most common methods are credit cards, debit cards, net banking, and e-wallets. But there are others such as cash on delivery (COD) payments where you can pay offline directly to a courier service provider.

A good choice will be based on the following factors:

• Your existing customers’ preferences–Do they prefer online or offline payments? How long has it been since you last used them? What were their previous experiences with such services? Are there any special requirements that need to be considered when choosing a mode of payment for your business?

Conclusion

If you are looking for a reliable payment gateway, then there’s no better choice than PayU. They have the best payment processing solutions available in India and abroad. They provide our customers with a complete range of services like quick setup, zero fees, and instant activation, along with easy integration with leading shopping carts and marketplaces. With their extensive support team at your disposal 24/7, they ensure that your business is always in excellent hands when it comes to payments!

So, what are you waiting for? Sign up now.

The post The Complete Guide to Mode Of Payment PayU for 2022 appeared first on PayU Blog.

Here’s what we’ll be finding out about payment gateways.

What is Payment Gateway?

A payment gateway is a transaction medium between a merchant and a consumer. It may be on an offline outlet or online website or through a payment service like UPI, NEFT, RTGS. There are four parties that involve in the payment gateway process: the customer, the merchant, the issuing bank, and the receiving payment or acquiring bank. It is an easy and simple process.

The customers transfer their personal and financial information between the merchant and customer by swiping their credit or debit card or processing their bank account information. Security layers encrypt this exchange and prevent sensitive information from falling into the wrong hands. It determines the number of funds in the customer account used for the purchase and, accordingly, notifies the approval or decline of the transaction.

Payment Gateways vs Payment Processors: What’s the difference?

We have explained above how the whole payment process works. Hence, it requires two basic components: payment gateways and payment processors to be successful and secure. Following are some differences between the two:

1. The payment gateway receives the customer’s information and forwards it to the payment processor for verification through the card system. Payment processors relay the data and verify that the card details are valid and secure.
2. Payment gateways inform customers and merchants of approvals and declines of transactions. Through data transmission between issuing and receiving banks, payment processors communicate the response to the payment gateway.
3. When transferring data to the payment processor, the payment gateway needs to encrypt and certify it as an ISO 8583-compliant platform. Thus, payment processors have higher development costs and longer development times than payment gateways. Payment gateways need a simple SSL encryption.
4. Payment gateway is more economical regarding certification and development costs, making it more suitable for startups and small businesses.

Three Types of Payment Gateways

With the advancement of technology, many businesses have moved from direct bank transfers to a more convenient, secure, and credible way of accepting payments using a payment gateway. Here are some of the most common types of payment gateway:

Hosted payment gateways

Using this payment gateway, when a customer clicks the ‘buy’ button on the merchant website, the system redirects the customer to the payment service provider’s website. Now, the customer needs to enter the relevant card or bank information. Upon confirmation, the customer then gets back to the merchant’s website to receive their order confirmation message. As a way of ensuring customer confidence, merchants can include their logo on the payment page.

Self-hosted payment gateways

This type of payment gateway, also known as pro-hosted payment gateways, involves the client providing card or bank details on the merchant’s website. Customers may need to submit information in a specific format. Upon submission, the data is then transmitted to the payment gateway’s URL. As it is on the merchant’s website, it makes the customer experience better.

API hosted payment gateways

The customer inputs their credit card or bank details on the merchant’s website in this payment gateway. Instead of directing to the URL page, the payments are made via HTTPS queries or APIs. The merchants have complete control over the whole purchase process. However, to provide this facility, merchants must possess SSL certification and DSS compliance.

Considerations for Choosing a Secure Payment Gateway

A reliable payment provider is critical for merchants to provide a smooth customer experience and increase traffic to their offline or online portals. Today customers can easily download the payment service providers’ app on their phones. One such example is the Bharat QR code in the android app.

Here are some things to consider when choosing a payment gateway:

• Businesses must consider how many payment methods and currencies they wish to include in their payment process. The more payment options available, the more comfortable and satisfied their customers will be.
• To provide good customer service, the speed of the entire sale process is essential. This includes the transfer of funds from the customer’s account to the merchant’s account.
• Another aspect to consider is the transaction fees and service costs. Fees depend on the volume of transactions, frequency of transactions, and many other factors.
• Merchant accounts are a must for some payment gateways. In comparison to other options, they charge lower transaction fees. Also, they are considerably more safe and secure, especially for large volume businesses.
• Payment gateways must be 3D secure and compliant with PCI data security standards-the highest level of security.

Conclusion

After reading the above article, you should have a fair idea of what a payment gateway is. Analyze your business needs and then choose the right payment gateway. Today, payment gateways like PayU come with a variety of web and mobile applications. It is a complete payment gateway solution with low processing fees, low commissions, and enhanced security. Build your automated payment process with PayU.

The post Payment Gateway: Definition, Types, and All appeared first on PayU Blog.

PayU provides payment gateway solutions to online businesses and serves more than 5,00,000+ merchants with over 150+ payment methods. It is the preferred payment partner for e-commerce merchants, including all leading e-commerce companies and a majority of airline businesses.

PayU has a host of mobile SDKs that play a vital role in powering payments in our merchant apps. Our primary focus is to make integration on the PayU platform as simpler and seamless as possible with minimal efforts required by businesses.

Let’s talk about how we built our PayU Crash Reporter SDK and integrated it into all of our SDK offerings to adopt an early repair strategy.

Problem Statement  

PayU distributes SDKs via public repositories such as Maven Central Cocoa Pods, where businesses integrate them into their Apps. When a crash used to occur in our codebase, it was getting logged on the merchant’s crash tools dashboard, and the same was conveyed to us later. We were not able to monitor the crashes in real-time. Debug time was high since required debug information was not always available easily from merchant dashboards. At times it was difficult for us to de-obfuscate the stack traces due to the lack of SDK version information and the corresponding mapping files.

Exploration

We tried to solve this problem with multiple products available in the market like Crashlytics, ACRA, BugSnag, but none of them worked out of the box for us. Here’s why we could not solve this problem:

• The coexistence of multiple such solutions within a single app was technically impossible, as all of these solutions need a single unique id to be configured at the application level.  
• These products did not support Library Modules. Usage is restricted for Application-level projects only.  

We came across Sentry, an open-source solution that could solve the problems mentioned above.  Sentry has an SDK product that was able to solve our primary goal of monitoring crashes in our SDK, but it had some of its challenges as well:  

Large Size: The size of Sentry SDK is ~1000KB as it offers a lot of other features which were not of our interest, viz.Health monitoring, NDK crash reporting, etc.  

Control over Data: We wanted tighter control over the data as the Sentry SDK was capturing a lot of data points, which was again of no interest to us. Also, the payload size was bloated because of the same.  

The Final Approach

We have developed our own PayU Crash Reporter SDK (using Sentry) to resolve the above problems. The PayU Crash Reporter SDK registers itself with a Global exception handler to parse the stack traces and report only those crashes which occur in PayU SDKs. High-frequency events would then get picked up into our sprint cycles or as hotfixes for proactive issue resolution, thus creating much more stable SDKs.

Size: It’s around 40 KB, almost 1/25th size of Sentry SDK. We were able to reduce the size by this much by removing all the bloatware.  

Control over Data: Reporting only necessary fields such as library version, transaction id, details of all of our modules present in the merchant application, along with Stack traces to ease out the debugging.  

Stability: PayU Crash Reporter is completely written in Kotlin using modern practices such as Coroutines to make network calls lighter, improving stability.  

Extensibility: PayU Crash reporter SDK has been designed in such a way that it is being used by all of our SDK offerings for Crash monitoring.  

Getting Better

With PayU Crash Reporter SDK integrated into all of our SDKs, we were able to provide a smooth and stable experience to all of the 150+ merchant bases.  

One of the recent examples is a top e-commerce player in our country, having millions of DAUs, facing a crash in our SDK during low memory in the devices, causing poor customer experience. We discovered and fixed this issue in the early release stages of the App itself with the aid of our PayU Crash reporter SDK.  

Apart from this, frequently occurring crashes like – Unhandled exceptions / NumberFormat Exceptions, IllegalArgument exceptions, NullPointer exceptions, etc., were observed during runtime by the PayU Crash Reporter SDK and were immediately fixed in the subsequent releases of respective SDKs.  

Everything You Need to Get Started

You can look at a variety of payments SDKs that PayU offers for a seamless payments experience – Android iOS.   

For any integration related support, please reach out to your key account manager or write to us at mobile.integration@payu.in  

The post How PayU Does Proactive Error Monitoring for Mobile SDKs? appeared first on PayU Blog.

PayU Payouts is the answer. A technology-driven solution that can automate the entire process of Payouts and perform quick disbursals in no time. Sounds like a dream, right? But it’s true!

With PayU Payouts you can make payments instantly be it refunds or something else. You may even track, manage and perform all sorts of payouts functions from one dashboard only.

Here’s how PayU Payouts can help you simplify your payouts

With PayU Payouts you can always do a lot more. Let’s have a look at it in detail:

Instant payments even on bank holidays

Make payments 24×7, even on bank holidays. You don’t need to wait after adding a beneficiary, disburse payments instantly.

Send bulk payments in minutes

Disburse multiple payments in one go to customers or vendors with a single click via payment methods like IMPS, NEFT, RTGS, UPI, Debit/Credit Card, etc.

Quick integration

Automate your payments with a simple integration within minutes. All you need to do is to configure recipients’ details, rules & approval workflows through API integrations. Voila! you are done.

Secured payment via payout links

Send secure payout links to the customer’s mobile number or email ID while allowing the customers to choose the payment mode (Card/UPI) just by clicking on the payout link. The payment will then get processed to the respective mode in no time.

Track & manage transactions easily

Monitor credits & debits in real-time. Wherein the system will automatically map the UTR/reference number to the respective debit transaction making it easier to keep track of transactions.

Be extra sure with maker-checker validation

Assign a maker and checker for payouts. Where Maker is the person initiating the transaction and the Checker is the one approving them. This is called maker-checker validation. You may also manage the assigned users and their roles easily from one dashboard.

PayU Payouts, a choice for all types of businesses

E-commerce

Online sellers can initiate customer refunds in bulk using PayU Payouts. Reduce your chances of manual errors while initiating these refunds.

Insurance firms

With PayU Payouts, medical insurance companies can process claims immediately. Also, it allows making instant disbursal of commissions to agents.

Banking companies

Delight your customers with instant loan disbursal and flexible repayment options.

Gaming platforms

While playing in teams on gaming apps customers expect winnings to hit their account without any delay once the game gets over. With PayU Payouts, you can make instant payments to the customers, basis the number of players in the group, leaderboard position, etc.

How to get started with PayU Payouts?

To get started with PayU Payouts, follow these simple steps:

1. Sign Up on www.payu.in
2. Complete your onboarding
3. Your PayU Payouts account is ready to use

See, it’s that simple!

Final thoughts

While disbursing payments to vendors or customers can be a time taking process, but using PayU payouts can always solve your worries of delayed payments. It’s time to say bye to those days when sending payouts would get on your nerves. Do everything instantly without any hassle with just a single click and utilize the time saved in ensuring growth for your business.

So, what are you waiting for?

The post PayU Payouts: All-in-one solution for all businesses to disburse blazing-fast payments appeared first on PayU Blog.

Let’s talk about the protocols and mechanisms that PayU deploys to mitigate any risks that may seep into the payment process. Our risk team is equipped with the best-in-class systems to analyze every type of risk leaving no stone unturned. Read on to know how PayU prevents online fraud.

How PayU Helps Businesses Decrease Frauds and Reduce Risks?

PayU serves over 4,50,000 businesses with over 100+ payment methods with millions of transactions every day. Hence, we have an inbuilt risk engine and mechanism besides mandatory protocols & standards to stop fraud. Our risk mechanism ensures that each genuine transaction is processed. PayU has a multi-way triggering system to analyze risky transactions. Let’s find out more about it.

ML (Machine Learning) model

This model detects fraud in real-time. We have a regression-based model that gets continuously trained on transaction-level features. It sees the patterns on potential fraud data inputs based on the past behaviour of the business and learns from the matrices.

Real-time transaction monitoring

PayU has a real-time transaction monitoring process. It keeps track of every single transaction to avoid any fraud’s possibility. It notifies the fraudulent case in advance before settlements.

Risk categorization

PayU has a system in place to categorize businesses and regression runs on the behaviour transaction patterns for each business. If the system identifies any differences in the transaction concerning the line of business, spike, suspect IPs presence, or a suspicious transaction pattern, it prompts risk. Basis GMV’s spike percentage, the risk score is entered in model & transaction level is defined to monitor.

AML (Anti-Money Laundering) implementation

PayU has enhanced due diligence for pre-onboarding & post-onboarding businesses, cross-border & inland transactions with alert queue mechanisms, address verification service (AVS), MCC mappings, classification, and risk-based process-score.

Future of Online Fraud Prevention

While PayU has the best system to prevent fraud, online fraud issues will be a challenge in the days to come. We keep updating our system to mitigate risk completely at a granular level. It helps us in improving transaction monitoring with stringent AML solutions and unsupervised learning approaches. We feed this data to various ML models. If you are finding a payment solution for your business, we’re just a click away.

Reach out to us for more queries at support@payu.in

The post How PayU Prevents Online Payment Frauds? appeared first on PayU Blog.

In order to help businesses with the changing trends and support them in getting back stronger, we are glad to introduce PayU as a payment option in eCommerce platform Shiprocket Social. Shiprocket offers a wide range of customizable features for opening your own online store with services such as shipping, logistics, order tracking, marketing, etc.  

Integrating your Shiprocket Social store with PayU will enable you to accept payments via multiple payments options such as UPI, Credit / Debit Card, Net Banking, Paytm, Google Pay, PhonePe, Wallets and much more, giving more convenience to your customers. 

Key Benefits of Choosing PayU Payment Gateway 

1.Quick & Easy Onboarding – While the sign up is done in 2 easy steps at PayU, we are glad to share that our onboarding process is 100% online and hassle-free. While you upload soft copies of all your documents from your dashboard, you will keep receiving emails confirming the status of your application 

2. Simple to Setup on Shiprocket Social – It is easy to add PayU payment gateway on your Shiprocket Social Store. (See how to enable PayU easily on your Shiprocket Social Store below) 

3. Industry-Best Success Rate – We provide industry-best success rate in all the transactions as we support widest range of payment methods and banks, making it convenient for your customers to pay via their preferred payment mode 

4. Seamless Checkout – With PayU’s Saved Card option, your customers don’t have to enter their card credentials again and again. They only have to enter their CVV and a password sent to their registered mobile number  

5. Omni-channel Presence – PayU is the only payment gateway that allows you to accept payments from multiple channels, devices, and payment modes, through a single processing platform. This will help you attract omni-channel retail customers who purchase in various non-traditional ways. You can create and share PayU payment links with your customers via SMS, WhatsApp, Instagram, email, or any other channel of your choice and get paid instantly   

6. Real-time Tracking on Powerful Dashboard – Track, manage and reconcile all your transactions and business performance on-the-go. The PayU dashboard allows easy & hassle-free reconciliation of accounts in a single window. 

7. Highly Safe and Secure Transactions as PayU is PCI-DSS compliant with 128-bit encryption 

Other Powerful Features to Help you Grow your Business

• Maintain your Business Cash Flow with Same-Day Settlements: With this feature, you will get money in your account the same day that will help you improve your business cash flow and managing working capital effectively 
• Go Global with our International Payments Acceptance feature: You can accept payments in 100+ currencies and settle them in your local currency 
• Initiate Bulk Payments, Instant Refunds with Payouts: This feature will allow you to disburse immediate bulk payments, vendor payments, initiate instant refunds to anyone, anytime using UPI, RTGS, NEFT and IMPS 
• EMI as Payment Option – With this payment option on your website or checkout page, now your customers can avail and pay using the EMI facility via credit card of all leading banks as per their convenience 

How to Enable PayU on your Shiprocket Social Store

Merchants can easily integrate PayU payment gateway on their Shiprocket Social online store by following the simple steps below:   

1. Login to your Shiprocket Social (https://sellers.shiprocket.social/) account and click on the “Payment Options” button on the left-hand side of the Dashboard to access the available Payment Gateway options. In the drop-down menu, click on “PayU” & proceed.

2. You will land onto the PayU configuration page (below) after clicking on “PayU”. You will be required to fill in your credentials such as PayU MID and Key & Salt details.  

• If you are already a PayU Merchant, you can find your Merchant Salt and Merchant Key from the profile section of your PayU dashboard. Click on the Profile tab at the top right corner of your PayU dashboard. Under the “Integration Details” tab, you will find your Key and Salt

• For PayU MID, go to “Profile” section on the right-hand corner, click on “general details “ and copy the Merchant ID

• If you don’t have a PayU account, then click on the “Register” button on the top right corner of the screen on Shiprocket Social. You’ll be redirected to PayU for account creation. You can sign up on PayU within minutes.  

3. Now, enter your merchant credentials, select the status as “Enable” & save to activate PayU payment gateway for your store 

That’s it! You have an online store with PayU as your payments solution provider. Wasn’t this simple?

Conclusion

Providing a great online purchase experience plays a crucial role in the engagement and retention of customers. Therefore, it is essential for you to provide a seamless checkout experience to your customers. And you can do that easily by choosing the PayU payment gateway as your payments solution provider in your Shiprocket online store.   

PayU has always been one of the most trusted and secure payments solution providers for making online transactions. Sign Up on PayU and take the next big step in your business, 

The post Jumpstart Your Online Store with PayU Payment Gateway & Shiprocket Social appeared first on PayU Blog.