When businesses approach payment solution providers, what do they look for?

• A stable product – YES!
• A great experience – YES!
• Minimal integration hassles – YES!
• Serviceability – YES!

One more very important thing is collaboration, between the solution provider and the business itself.

The only way to complete a professional software project is through collaboration. This collaboration is when both the business and the solutions provider’s teams come together to fulfill the requirements – for which PayU has created the developer documentation. The documentation includes detailed information of what all goes into the product from a technical standpoint, thus making it easier for the concerned teams at the business’s end to collaborate easily.

What does developer documentation provide?

It captures all the architectural details of the codebase, and guides developers through the software. This includes the product details and information about the APIs being used – integration information, sample documentation, tutorials on usage – how to use the product.

Businesses partnered with PayU can take advantage of PayU Docs which captures everything developers need for the PayU product portfolio.

PayU Docs

This is how the PayU Docs look like:

The interface enhances usability, ensuring developers a seamless experience navigating the portal. 

PayU Docs features

The developer’s guide is packed with a host of features, a few of them being:

• Interactive API docs — The docs portal comes with a stitched API playground where developers can make API calls natively with test data. We have also included a native generate hash button to simplify the try-out experience. The API reference allows developers to try out the API calls in 12+ programming language, cURL, PHP, Python, Rube, Node being few of them.  

• Step by step walkthroughs of the most used Mobile SDKs and Integrations – We have added recipes to walk developers through a code sample step by step to help them get started with PayU’s integrations faster. Get hand holding of some integration procedures with “Recipes” highlighting the code and steps.

• Enhanced navigation through the content, greater discoverability.

• Enhanced embedded search – The PayU Docs not only help developers jump to the exact required information but also makes it easy for them to try out APIs, navigate easily through the pages and even experiment in all the prominent languages for their ease.

To try the docs, click here.

Looking ahead to the next phase of the development, we will continuously improve the portal’s capabilities by including more and more features based on the feedback we receive from our partners, stakeholders and businesses. Our aim is to provide businesses with the best in class product, service and features to support them in their growth journey.

The post Do you know how to get the best out of PayU Docs? appeared first on PayU Blog.

Payments on WhatsApp Business powered by PayU 

PayU and Meta have joined forces to create an end-to-end shopping experience right on the WhatsApp Business platform. From discovering awesome products to collecting payments, everything happens seamlessly within WhatsApp. What’s more, your customers can choose from various payment options, including UPI, net banking, cards, and wallets, all without leaving the chat.  

This fantastic feature is available to all businesses in India using the WhatsApp Business platform. It’s a game-changer, allowing businesses to offer their customers a seamless shopping experience within WhatsApp. It reduces friction in the checkout process and increases customer conversion. It’s faster, more convenient, and eliminates the need for redirection between apps or websites. 

Benefits of WhatsApp commerce with PayU 

For businesses 

• Businesses can provide a seamless end-to-end shopping experience within WhatsApp. 
• Offer diverse payment options, including cards, UPI, net banking, and more. 
• Easy setup by connecting your PayU account to start accepting payments directly on WhatsApp. 

For customers

• Choose your preferred payment method to complete your purchase without any hassle. 
• Get instant payment confirmations, view offerings, track your order, and check transaction history, all on WhatsApp. 
• Easily discover and reconnect with businesses you’ve recently transacted with. 

How to enable PayU payments on WhatsApp Business 

Enabling PayU payment solutions on WhatsApp Business is a breeze. All it takes is: 

1. The WhatsApp Business API to integrate payments into the platform. 

2. An active PayU account. 

We’ve made integration super easy by enabling all major Business Solution Providers (BSPs) in the country, reducing your effort significantly. 

Ready to get started? Set up PayU payments on WhatsApp Business now! 

Sell where your customers are 

The popularity of social platforms like WhatsApp is ever-increasing. The simplicity of the platform coupled with the power of online payments makes up a shopping experience that leads to higher reach, purchase volume, and brand value. 

Say goodbye to cart abandonment and hello to closing every sale right in the chat. It’s an exciting time for e-commerce, and we can’t wait to see how your business soars to new heights with WhatsApp and PayU. 

Get ready to turn conversations into conversions like never before! 🚀 

Learn more.

The post Turn Conversations into Conversions with PayU Payments and WhatsApp Business appeared first on PayU Blog.

What is the NPCI circular on UPI interchange fees about? 

The National Payments Corporation of India (NPCI) announced that up to a 1.1% interchange fee will apply to Unified Payments Interface (UPI) transactions made using prepaid payment instruments (PPIs) like smart cards, vouchers, and wallets. This applies to prepaid transactions via UPI above Rs. 2000 made to merchants of all categories. However, the decision mainly affects medium- and large-category merchants accepting high-value transactions.  

The interchange fee varies from 0.5-1.1% depending on merchant categories. Categories such as agriculture, education, fuel, and utilities will attract a 0.5% interchange fee. And categories such as specialty retail and convenience stores will attract a 1.1% interchange fee. 

What is an interchange fee? 

An interchange fee is a fee merchants have to pay when a consumer transacts with them using a digital payment mode. It is similar to merchant discount rates that apply to credit card transactions.  

Whom does it affect? 

Typically, the interchange fee is borne by the merchant. Suppose a consumer purchases an item worth over Rs 2000 from you using a digital wallet via UPI. You will have to pay an interchange fee to the payment service provider for this transaction. 

Consumers will only be affected if a merchant or PPI decides to pass on the extra cost to them. 

Will recharging digital wallets come at a cost? 

PPI issuers will have to pay 15 basis points to the remitter bank for wallet-loading amounts over Rs 2000. Consumers and merchants using digital wallets via UPI will not have to bear this cost yet. If payment providers decide to pass on this cost to users, recharging wallets will become chargeable.

How does this help payment service providers? 

Usually, UPI transactions bring no to very low revenues. The decision to make certain UPI transactions chargeable will give a much-needed impetus to payment service providers in the form of additional revenue.

We are keeping an eye on how the decision to make certain UPI transactions chargeable. Watch this space for more updates. 

The post NCPI interchange fee: UPI payments will come at a cost. How does this affect you? appeared first on PayU Blog.

Yes, digital payment modes like UPI are extremely useful and secure. Being careful when transacting online is important to avoid unnecessary inconveniences or fraud. But if you ever make a mistake while transacting via UPI, don’t worry.  

Follow this step-by-step guide on UPI dispute redressal mechanism by the National Payments Corporation of India (NPCI).

X Steps of NPCI’s UPI dispute redressal mechanism 

Step 1 – Immediately raise a complaint regarding the UPI transaction on the Payment Service Provider (PSP) or Third-Party Application Provider (TPAP) apps. 

Step 2 – To do so, select the UPI transaction on the app and raise your concern. 

Step 3 – If your complaint is not resolved soon, escalate the matter to the PSP bank, followed by the bank where you hold the related account, and finally, the NPCI. Register a complaint with the NPCI from here. 

Step 4 – If there is still no remedy, contact the Banking Ombudsman and/or the Ombudsman for Digital Complaints. 

Step 5 – Check for updates from the PSP or TPAP regarding the status of your complaint on the relevant app. 

Safe UPI practices save money

UPI is one of the most popular payment modes in India today. The Reserve Bank of India (RBI) advises all consumers and businesses to stay aware to prevent online payment mishaps. To safeguard consumers against payment frauds and mistakes, the NPCI has also provided UPI Safety Shield safety tips for transacting via UPI.

Read more about UPI Safety Shield here.

The post Made a UPI Transaction Mistake? Here’s How to Get Your Money Back! appeared first on PayU Blog.

But what to do if you are still hit by payment fraud? Let’s discuss this. 

Identify the type of fraud and collect evidence 

How can you fight something if you don’t know what hit you? Payment fraud often comes across as genuine communication from organizations like e-commerce merchants, banks, or payment companies. Zero in on how you have been defrauded so you can take the right action against it. 

• Hit by a digital transaction fraud? 

Save screenshots of the fraudulent website or application, SMS messages, UPI ID, mobile numbers, transaction page, etc. 

• Hit by an e-commerce fraud? 

Save screenshots of the merchant website or app, transaction page, order and transaction details, etc. 

• Hit by ATM skimming? 

What happens when you withdraw money from a rigged ATM? Your sensitive information, and possibly your money, too, is stolen through an unauthorized device. As soon as you realize this, note down the ATM machine’s number, location, concerned bank’s name, etc. 

• Hit by a PoS fraud? 

Like ATMs, fraudsters can also rig point-of-sales devices to skim confidential details like banking and personal information. Note down the merchant’s address and ask for a transaction ID or receipt if possible. 

Inform the concerned stakeholders and authorities 

Since the fraud is related to digital payment, you should inform the NBFC, bank, or payment company involved in the transaction. Here’s the order to contact different stakeholders and authorities involved. 

For online transactions, inform the bank, NBFC, or payment company involved. Inform the bank or NBFC and the payment platform in case of UPI fraud. 

In case of e-commerce, PoS, or ATM fraud, register a complaint with the card issuing bank. 

↓ 

Then, file an FIR at the local cybercrime department, information regarding which you can find here. 

↓ 

If there is still no remedy, you can file a complaint with the National Payments Corporation of India (NPCI). 

↓ 

If you don’t get a response from the bank or payment company or you are unsatisfied with the response, reach out to the RBI’s Banking Ombudsman. 

Know your liability 

As per RBI mandate, consumers can get a full refund of the amount lost under these circumstances: 

• If the fraud happened because of negligence or a lack on the bank’s part 
• If the customer informs the bank about the fraud within three days of its occurrence in case of a third-party security breach 

You can also get a portion of the amount back if you report the fraud within four to seven days of its occurrence. In this case, you will still be liable for a limited amount. The longer you take to report the fraud, the harder it gets to get your money back. 

Fraud can occur due to negligence on your part as well, like sharing OTPs or banking details. In such a case, you will most likely not get the money back. However, any loss caused after reporting the fraud will be the bank’s liability. 

Awareness is your strongest shield against fraud 

Now you know what to do if you get hit by payment fraud. Banks and authorities are always there to help you get your money back. But it is best to be cautious so you can avoid getting defrauded. Always remember to check the details and authenticity of the entity before sending them money. If you are asked to share confidential information like passwords and OTPs, refuse and cancel the transaction immediately. These are just some of the small steps you can take to fight fraud.

The post Hit by Payment Fraud? Learn How to Get Your Money Back appeared first on PayU Blog.

What is fraud involving online sales platforms?

Fraud involving online sales platforms is any fraudulent activity used to obtain money or goods from an e-commerce platform illegally. This can include stealing credit card information, manipulating affiliate links, or even taking over accounts. Losses to e-commerce due to fraud worldwide may exceed $48 billion in 2023. This is a massive amount lost by businesses and consumers that can be brought down with better awareness and security measures.

Types of fraud on online sales platforms

The different types of fraud on online sales platforms can vary depending on the platform and type of transaction. Here are different types of fraud on online sales platforms you need to be aware of.

Affiliate fraud

This involves targeting a business’s affiliate marketing activities to divert affiliate commissions illegally. The fraudster may generate fake affiliate links or manipulate existing ones to receive commissions from a sale or increase the commission amount.

Refund fraud

Refund fraud is when a fraudster makes a purchase but requests a refund after receiving the product. Typically, the fraudster will purchase using a stolen credit card and may claim they have paid more than the actual amount. They may also claim they had cancelled the order or did not receive the product. When you agree to refund the amount, they may ask you to send the money to a different source stating a legitimate-sounding reason for not being able to use the original account or card anymore.

Chargeback fraud

Also known as friendly fraud, chargeback fraud is when a fraudster contacts their credit card company to dispute a charge after they purchase on an online sales platform. This type of fraud can be difficult to detect, as the fraudster will often wait until the charge has been made before they dispute it.

Account takeover or identity theft

Account takeover or identity theft is when a fraudster obtains a stolen account or personal information and uses it to gain access to an online sales platform. This type of fraud is difficult to detect, as the fraudster will impersonate a real customer to make purchases that will never reach them.

Interception fraud

Interception fraud is when a fraudster intercepts a package that was intended to be shipped to another address. They will usually pick a victim with the same billing and shipping addresses linked to their credit or debit card and their e-commerce store account. After the order is placed, they may ask for the shipping address to be changed or even pick up the order when it is delivered.

How to spot and avoid fraud on online sales platforms

Now that you know the different types of fraud on online sales platforms, it is important to know how to spot and avoid them. Here are some tips to help you protect your business and customers from fraud on online sales platforms.

– Look for any inconsistencies like

• Mismatched shipping address and IP address or email of the buyer
• Unusual order sizes or numbers
• Using one billing address but multiple shipping addresses for a set of orders
• Multiple purchases made using different credit or debit cards
• Repeated failed transactions
• Many orders received from an unusual location
• Non-physical shipping addresses like PO boxes or storage services

– Conducting regular site audits to detect and prevent threats is important.

• Check if your backend software and plugins or APIs are up-to-date
• Update your SSL certificate and use Hypertext Transfer Protocol Secure (HTTPS)
• Regularly back up your data
• Encrypt sensitive data
• Look for possible malware infestation

– Ensure your websites and online storefronts are PCI-DSS compliant. Use secure payment gateway aggregators with advanced encryption technology to protect customer data and prevent fraudulent transactions.

– Make it mandatory for your customers to provide CVV for card purchases and additional safety measures like strong passwords and two-factor authentication.

Prevention is better than correction

Remember that fraudsters always devise new ways to scam people and businesses, especially small enterprises. It is important to stay up to date on the latest security measures and to be aware of any suspicious activity. The Reserve Bank of India (RBI) regularly provides information on financial scams and how to leverage them. In case of a fraud case, immediately contact concerned authorities to tackle fraudsters and protect your customers.

The post 5 Types of Fraud on Online Sales Platforms and How to Keep Them at Bay appeared first on PayU Blog.

As the digital payment ecosystem evolves, there are various types of payment fraud coming up. Knowing about them and how to tackle situations where you are targeted by one can help you enjoy the benefits of digital payment without falling prey to financial risks.

RBI, in partnership with other stakeholders in the digital payments space, has been making efforts to inform more people about payment and other forms of financial fraud.

Types of payment fraud

Fraudsters can come up with innovative ways to steal your financial information and money. This article talks about some of the most common types of payment fraud that you can learn about to keep your identity and money safer.

1. Phishing

Phishing schemes involve fraudsters posing as renowned companies to trick people into sharing their personal or banking details. They could use the company’s brand name, logo, or other identity markers.

You may get emails or text messages that usually contain a link to a malicious website where you are asked to enter your financial information. This information is then used to make fraudulent purchases or access bank accounts.

Look out for emails or messages with poor grammar, misspellings, or other suspicious elements. Also, never click on a link in an email or message unless you are certain it is from a trusted source.

2. Scams involving third-party websites and triangulation

This involves using a third-party website to purchase goods or services with stolen credit card information. The fraudster will typically use a stolen credit card to purchase on the third-party website and then use the goods or services to make additional purchases on other websites. This is known as triangulation.

To protect yourself from this type of fraud, only use trusted websites and always check the website’s security measures. Also, avoid giving your credit card information to third-party websites if you are unsure of their legitimacy.

3. ATM skimming

When fraudsters attach a device to an ATM they can skim your card details. The device is designed to look like a legitimate part of the ATM. The fraudster can then use this information to make fraudulent purchases or withdraw money from your bank account.

To protect yourself from ATM skimming:

• always be aware of your surroundings when using an ATM
• look for any suspicious devices that may have been attached to the machine
• never use an ATM if you suspect it has been tampered with
• use ATMs of known banks
• use your hand to cover the keypad when entering your PIN

4. Point-of-sale device (PoS) scams

PoS devices are widely used in stores to accept credit and debit card payments. Unfortunately, these devices can be manipulated by fraudsters to steal card information. The fraudster may attach a device to the PoS system that reads the card information as it is swiped. Alternatively, they may use a fake PoS terminal to collect card information.

If you notice any suspicious-looking devices attached to a PoS system, do not use them. Always ask for a receipt for transactions made via PoS devices. Additionally, check transaction SMSes and your bank account and credit card statements for any suspicious activity.

5. Vishing

Vishing involves using voice calls or text messages to obtain financial information. The fraudster will usually pose as a representative of a legitimate company or financial institution and ask for confidential information, such as credit card numbers or bank account details.

The best way to protect yourself from vishing is to never give out your financial information over the phone or via text message. If you receive a call or message from a suspicious source, hang up or delete the message immediately. Be sure to check with the company or financial institution that supposedly contacted you to verify the legitimacy of the call or message.

6. Wire transfer scams

In this type of payment fraud, the fraudster will usually pose as a trustworthy company or individual and request money for goods or services that do not exist. They may also request a wire transfer as payment for a legitimate purchase and then disappear with the money.

To protect yourself from wire transfer scams, be sure to verify the legitimacy of any company or individual you are dealing with before sending any money. Also, be wary of anyone who asks for payment via wire transfer, as this is often a sign of a scam.

7. Pagejacking

Pagejacking is a type of payment fraud that involves creating fake websites that look like legitimate ones. The fraudster will copy the design of the legitimate website and use it to collect sensitive information from unsuspecting victims. They can also hijack some pages of a legitimate website.

Check for any suspicious elements, such as misspellings or poor grammar that may indicate the website is fake. Additionally, avoid entering sensitive information on a website unless you are certain it is legitimate.

8. Scams through QR codes

QR codes are becoming an increasingly popular payment mode. Unfortunately, they can also be used to scam unsuspecting victims. Fraudsters can create fake QR codes that look legitimate and use them to collect payment information.

Remember, you don’t need to enter your UPI PIN and password or scan a QR code to receive money. If somebody asks you to do that, immediately refuse. When sending money, always check the source of the QR code before scanning it. Additionally, scan the code using a secure app designed to detect fake QR codes.

9. Lottery fraud

Lottery fraud is a type of payment fraud that involves using fake lottery tickets to collect payments from unsuspecting victims. The fraudster will usually use a fake or stolen lottery ticket to make a purchase and then use the money to fund their activities.

If a lottery ticket appears fake or has been tampered with, do not purchase it. Additionally, never respond to emails or messages offering lottery tickets, as these are often scams.

10. Online job fraud

Scammers can pose as employers to collect money from unsuspecting victims. The fraudster usually advertises jobs online and requests payment for training materials or application fees.

If a job advertisement appears too good to be true, it probably is. Additionally, never send money to an employer before verifying the legitimacy of the job.

Awareness fights fraud

It is good practice to regularly check your debit and credit card statements for fraudulent charges. If you spot one, immediately contact your bank. If such incidents are reported within a few days, most banks will reimburse your money and may be able to prevent it from happening again. Movies and series like Jamtara are eye-opening depictions of how financial frauds work. You can also check out RBI’s resources for the latest informational and awareness content to ensure you don’t lose your money to a fraudster.

The post 10 Types of Payment Fraud You Can Easily Identify and Prevent appeared first on PayU Blog.

In this article, we will explain what ESOP is, how it works, its benefits, and ESOP tax treatment. Learn more about this employee benefit plan and gain the clarity you need to decide whether to adopt it.

What are ESOPs?

The full form of ESOP is an employee stock ownership plan. An ESOP benefits the employees of an organization by providing them with an opportunity to have an ownership interest in the stocks of that organization. With this ownership interest, the employees don’t have to incur additional costs for buying stocks from the organization. Even if, in some cases, there are additional charges, they are very low. Employees can encash these stocks after a decided period.

How do ESOPs work?

Here’s how ESOPs work in India generally. The company starts by deciding the number of stocks they are willing to share and the names of the employees who are eligible to buy them. Then, they grant the stock to the employee along with a grant date. Employees cannot avail themselves of the ownership of the offered stocks before the specified grant date. Till then, the stocks stay in the trust fund. This time is called the vesting period.

Based on the ESOP rules, employees can obtain ownership of the stocks after the vesting period is over. They can buy the stocks at the assigned prices, which are typically substantially lower than the fair market prices. From then on, you can choose to retain the stock or sell it at market price and gain wealth from the asset. 

Suppose you do not complete the vesting period and leave the organization. In that case, the organization will re-purchase the ownership interest from the employee at the market price. 

What are ESOPs taxation rules in India?

Various Indian companies are offering packages to employees in the form of ESOP. But before you accept the offer, you should know all about the taxability of ESOPs. 

Tax on ESOPs is applied under two circumstances: 

• When the employee buys it from the company.

• When the employee sells it to gain wealth from their holding.

In both cases, there are tax implications, and the tax amount depends on the ESOP exercise price and market price. The exercise price is the price at which you buy the stock from the company and exercise your ESOP. 

The difference between the ESOP exercise price and the market price is taxable in the first case. The employer cuts tax deducted at source (TDS) on ESOPs from the employee’s perks, which is reflected on Form 16.

In the second case, when you sell the stock to gain capital, tax is imposed on the difference between the selling price and the market price of the share on the date when it was exercised.

Benefits of ESOP for employees

ESOPs benefit both the employer and employees. Some of the benefits employees get from ESOPs are:

• The chance to buy the company’s stocks at a lower price

When the vesting period is over, employees can buy the share from the company at a comparatively lower price than the market price. 

• shared ownership of the company

Employees get a chance to buy a share from the organization they are working in. They also get the chance to share the capital with them.

• Retirement asset

If the vesting period is long and the value of the stock grows substantially over time, then the value of the asset can get appreciated, thus supporting you in the days after your retirement. 

Final thoughts

ESOPs are plans dedicated to benefiting employees. It gives employees an ownership interest in the shares of the organization. If you want to know more about what are ESOPs and their features, read the FAQ section below.

Frequently asked questions

The post What are ESOPs? Definition, Taxation Rules, Benefits, and More appeared first on PayU Blog.

Best for salaried individuals: SBI SimplyCLICK Credit Card

• Joining fee – ₹499, excluding taxes
• Annual fee – ₹499, excluding taxes (returned on spending over ₹1 lakh)
  
  Key benefits:
  • Offers 10x rewards on shopping with partner brands
  • And 5x rewards on all online transaction
  • Amazon gift card worth ₹500 on welcome

Best for travel: HDFC Regalia Credit Card

• Joining fee – ₹2500, excluding taxes
• Annual fee – ₹2500, excluding taxes
  
  Key benefits:
  • 12 complimentary airport lounge access within India and 6 outside the country
  • 10,000 bonus points on spending ₹5 lakhs and 5,000 reward points, too, on spending ₹8 lakhs in a year
  • 2% foreign currency markup on international spends

Best in premium category: HDFC Diners Club Black

• Joining fee – ₹10,000, excluding taxes
• Annual fee – ₹10,000, excluding taxes
  
  Key benefits:
  • Get 5 reward points for every ₹150 you spend
  • Complimentary vouchers from partner brands for spending over ₹80,000 in a month
  • Annual memberships of Amazon Prime, Times Prime, Club Marriott, Forbes, MMT BLACK, and Zomato Pro

Best free credit card: IDFC FIRST Millenia

• Joining fee – None
• Annual fee – None
  
  Key benefits: 
  • Free for a lifetime
  • Interest-free cash withdrawal for up to 48 days
  • 10x rewards on special days and milestones

Best for beginners: HDFC MoneyBack

• Joining fee – INR 500
• Annual fee – INR 500
  
  Key benefits:
  • 2 reward points for every ₹150 spent offline (double for online shopping)
  • E-voucher of ₹500 for spending ₹5,000 in a quarter and upto ₹2,000 in a year
  • 1% fuel surcharge waiver on spending more than ₹400 on fuel

Best with zero annual fee: IndusInd Pioneer Legacy

• Joining fee – ₹45,000
• Annual fee – None
  
  Key benefits:
  • Up to 3 movie tickets for free every month
  • 1.5 reward points on every ₹100 spent
  • 6,000 additional reward points if card spending exceeds ₹6 lakhs in a year

Best for shopping on Amazon: Amazon Pay ICICI Bank Credit Card

• Joining fee – None
• Annual fee – None
  
  Key benefits:
  • 3% cashback even for non-Amazon Prime customers on Amazon shopping
  • 2% cashback on shopping with Amazon Pay partner merchants
  • 1% cash back on other payments

Best for shopping on Flipkart: Flipkart Axis Bank Credit Card

• Joining fee – ₹500
• Annual fee – ₹500, waived off on spending more than ₹2 lakhs
  
  Key benefits: 
  • Up to 5% cashback on shopping with Flipkart and Myntra
  • Flat 4% unlimited cashback on transactions with partner sites
  • 4 complimentary airport lounge access

Best rewards credit card in India for business: ICICI Business Advantage Black Card

• Joining fee – ₹1500, excluding taxes
• Annual fee – ₹1000, excluding taxes
  
  Key benefits:
  • Up to 1% cashback on all eligible transactions
  • A minimum of 5% discount on dining bills with the ICICI Bank Culinary Treats Programme
  • 2 complimentary airport lounge access per quarter

Best overall: Axis Bank ACE Credit Card

• Joining fee – ₹499, returned on spending ₹10,000 within 45 days of getting the card
• Annual fee – ₹499, waived off on spending more than ₹2 lakhs annually
  
  Key benefits:
  • 4 complimentary domestic lounge visits annually
  • 5% cashback on bill payments and recharging mobile and DTH via Google Pay
  • 20% discount on dining at more than 4000 partner restaurants

Wrap up 

Given the plethora of credit card options, choosing India’s best credit card becomes difficult. But irrespective of the choice, one thing that sets them apart is that they partner with a capable payment gateway for seamless transactions. At PayU India, we offer easy-to-integrate APIs and SDKs with complete online onboarding for our customers. Click here to learn why you should partner with PayU India. 

FAQs

The post Best Credit Card In India: Top 10 Options to Pick From appeared first on PayU Blog.

Myntra provides excellent possibilities for business advancement through online selling and marketing. However, this isn’t the only reason Myntra is India’s most popular online store. Let’s dive deeper into selling through Myntra’s much-loved eCommerce platform.

Table of contents

• Benefits of selling on Myntra
• Who can sell on Myntra? Eligibility criteria
• What can you sell on Myntra?
• How to start selling on Myntra
• Documents required for registration as a seller on Myntra

Why sell on Myntra? Benefits sellers on Myntra get

Being one of the largest online marketplaces in India has its perks. You too can enjoy these when you sell your products via Myntra. Below are some of these benefits:

• Myntra has a massive customer base of over 40 million users, servicing more than 17000 pin codes, and your brand can get exposure to the same.
• You will have full control over your merchandise – handling orders, cataloging, product quality, etc.
• Myntra supports its sellers with fulfillment models, cataloging, and supply chain management.
• You do not have to dedicate the time, effort, and resources to set up and run an online storefront. Leverage Myntra’s user-friendly interface to market and sell your products more effectively.
• You also don’t have to set up a payment gateway. Myntra will process payments through its payments partner.
• Through Myntra’s Partner Insights, you can get real-time data insights and tools for strategic selling.
• Myntra provides great customer service, including quick and easy returns, exchanges, and refunds. You too can provide an enhanced customer experience when you sell via Myntra.
• You don’t have to worry about shipping and delivery, saving a ton of logistics costs.

Who can sell on Myntra? Eligibility criteria

To start selling on Myntra, you need to have a registered business of the following types:

• partnership firms
• private limited companies
• sole proprietorship firms
• limited liability partnerships

Keep the scanned copies of the documents ready with you to speed up the steps of registration.

What can you sell on Myntra?

You can sell a range of products on Myntra. Such as:

• Clothing
• Jewelry
• Accessories
• Home décor
• Beauty and personal
• and more

How to sell on Myntra

To register your business as a seller on Myntra, you must create an account. Here are the steps to create a seller account:

1. Go to Myntra’s partner info page.
2. Click on the ‘Register Now’ button on the menu bar. You will be directed to an application form.
3. Enter your mobile number and verify it.
4. Enter your email address and verify it using the OTP sent to this ID.
5. Set a password.
6. Press the ‘Submit’ button.
7. Then, use these details to log in to your Myntra seller account.
8. Now, fill in the required details to complete the process.

You will receive a response from Myntra’s team once the application is evaluated. If your business meets Myntra’s set parameters for sellers, you will be contacted with information degrading the next steps. You will also get access to Myntra’s Partner University for all relevant details on completing the onboarding process. Once you have Myntra seller login details, you can start managing your products.

Documents required for Myntra seller registration

Here are the documents and details you need to complete the Myntra seller registration process:

• GSTIN
• Warehouse details (address, contact number, etc.)
• Current bank account details, including a copy of a canceled cheque for verification with your registered business name printed on it
• Brand details
• Trade Mark Certificate, in case of brand owners or manufacturers
• No Objection Certificate, in case of distributors, resellers, importers of a brand

Get the Myntra seller advantage for your business

Myntra will work directly with you to bring your brands to the marketplace as swiftly and efficiently as possible. If you want to know how to sell your products on Myntra, their dedicated support team can guide you and help you receive orders as soon as possible. You will be responsible for the upkeep of your products. Myntra’s delivery partners will pick up and deliver the products from your warehouse to the customer’s doorstep.

The post How to sell on Myntra: Step-by-step guide for online seller registration appeared first on PayU Blog.