• Achieved a new high of 8 million+ transactions on a single day!
• 70% growth over last month, in terms of volumes
• Average expenditure increased by 52%, compared to festive season 2020

Firstly, What Necessitates the War Room Modus Operandi?

This festive season was unique because of several factors. There was huge pent-up demand on online channels, and several large merchants preponed sales by 10 days. What’s more, some e-retailers decided to go for mega sales at the same time.

Usually, an online purchase journey runs the risk of several dangers – complicated checkout process, user redirection, poor payment integration, etc. This can lead to one of the most dreaded outcomes for an e-retailer – cart abandonment. The stakes are higher during peak festive shopping spree.

Even a mere 2% drop in transaction success rate would result in loss of opportunities worth crores. A two-minute system downtime would affect millions of customers. So, our preparations start a month in advance to ensure smooth and glitch-free transactions during surge periods.

What are the Secrets Behind PayU’s Success?

• It’s all hands on deck: Managing peak festive traffic for over a month needs seamless collaboration and synergy. Senior leaders across the board, including Manas Mishra, Shantanu Preetam, myself, and other business heads work with engineers. They address critical issues during the sale and ensure smooth operations.

• War rooms and green channels: We have instituted Always On war rooms for all key merchants at PayU, to handle any out-of-the-box situations that can potentially crop up. A dedicated green channel staff and a team of 100+ engineers are available around the clock to tackle surge sales.
• Leverage competitive advantage with Wibmo: With Wibmo, a PayU owned PayTech company, we leverage networks to bring together all the financial institutions and big banks. That participate in the first round of sales. PayU does multiple load testings with them to ensure the platform can hit as high as 2800 transactions/second. Despite that it remain stable and scalable.
• The devil lies in the details and micro-level monitoring: There’s always a danger of transactions witnessing sudden drops. Also, we continually give real-time online feedback to the merchant so that they can capitalize on the sale. Even if we lose 5 mins, it can potentially mean a loss of Rs. 50 crores worth of sales for the merchant.

Our ability to innovate, technology readiness, and preemptive assessment ensured that we set a high standard in terms of customer experience. Very few fintech companies in India can do so, and PayU has the unique distinction of leading this success, at scale, every year.

Strength, truly, lies in collaboration. Everyone stepped up to take on the increased workload. Be it was enterprise teams, product teams, engineering teams, or even non-financial teams. By the time the war room closed, we had successfully managed to process more transactions than last year. Even, total value reaches as high as 300% on surge days, compared to 2020. 

The post Straight from the war room: How PayU manages festive sales transactions at scale? appeared first on PayU Blog.

But What are Digital Addendums?

Addendum means an addition to the existing main document. Digital Addendum is an ad hoc item, usually compiled and executed online after the main agreement, which contains additional terms or information. With a digital addendum to an agreement/contract, we will amend your existing agreement so that it includes the terms and conditions or pricing for the new PayU feature to be enabled for you, which you can “accept” online.

Gone are the days when you needed to take out a print of the addendums (hard copy), sign it, scan it and send it to us via email. Now, all you need to do is just click on “I accept” (the addendum) and have the new PayU feature enabled for you. 

Addendums signed online are as valid and secure as traditional pen-and-paper documents. Also, it is widely used by various companies these days.

In case you need a PayU feature update, get in touch with us here or with your Key Account Manager (KAM). An addendum will be uploaded on your PayUmoney dashboard accordingly. Just “accept it” and get the PayU feature enabled! 

Key Benefits of Digital Addendums for PayU Merchants

1. Save Time and Money – One of the biggest reasons for us to come up with this feature was to save time and money. You don’t have to print, sign, scan and then mail the documents.  You can quickly “accept” the addendum and have the PayU feature enabled for you. The whole process becomes streamlined.  
2. Do it from Anywhere, Anytime – Apart from speeding up the process of getting signatures on addendums, it can be done from anywhere, anytime. You don’t have to worry if you are out of town on a business trip or in some other part of the world.  With these digital addendums, you can simply “accept” it and get the PayU feature, in minutes. 
3. Get on New Projects Without Delay – It only takes a few minutes to sign a digital addendum. This means you can “accept” addendum and start with your projects without a delay.  For instance, if you want to go global and want our international payments feature enabled for you, you can get in touch with your KAM and accept the digital addendum on your PayUmoney dashboard and start accepting payments in 100+ currencies in no time!  

Conclusion 

At PayU, we already had a system of digital agreements and contracts for our merchants wherein they have to “accept” the documents with a digital signature.  We hope digital addendums to be extremely valuable to the businesses of all PayU merchants, making the process quicker, efficient and more cost-effective.  

Also, the all-new PayU App is now live! Now, you can track your business performance, request payments and create a business website – all on the go!

PayU is India’s leading payment solution provider. And we are always excited to empower our users with all these consistent enhancements and product updates! Explore more on PayUmoney. Sign up and start collecting payments seamlessly just like our 4.5 lakh + online businesses do!

The post Digital Addendums for All PayU Merchants! appeared first on PayU Blog.

And now, with an aim to empower Indian businesses for their growth and to solve their payment related issues, we have partnered with Zoho CRM. We are happy to unveil this one of its kind partnership where businesses’ smooth growth is the priority!

With this partnership, businesses like yours can manage client’s information, business details and their payments: all in one place. This feature is best suited for:

• Sales teams of all sizes
• E-Commerce & retail businesses
• Finance & insurance agencies
• OEM production & distribution vendors

Here is what Nameet Potnis, VP Marketing & Growth, PayU SMB has to say about this partnership: “With this association, we are expecting a surge in PayU’s SMB business, since all the merchants using PayU’s payment functionality on the Zoho CRM dashboard will be registered as PayU merchants as well.”

This partnership brings along the following powerful features for businesses:

• Collect payments directly and securely on Zoho CRM
• Easily track real time status of payment requested and handle reconciliation through Zoho CRM dashboard
• Provide customers a seamless checkout experience by giving all payment options such as credit cards, debit cards, UPI, wallets, net-banking etc

PayU-Zoho CRM integration will enhance a user’s (merchant) experience by removing the hassle of tracking customer’s online payment information on one platform and then logging into a different CRM system for other sales information and then closing the deals manually.

The tie-up aims to break this siloed approach and make the payment processes simpler. Now, Indian businesses would be able to manage their business leads as well as process and track all their online payments – all on one platform.

Commenting on the collaboration, Raju Vegesna, Chief Evangelist, Zoho Corporation, said, “We consider Zoho CRM’s integration with PayU as a great first step for further collaboration and a strong partnership. Our association with PayU India helps Indian businesses reach more customers and grow their business while also offering a seamless hyper-local solution to accept online payments.”

The vision of having a cashless economy would only be possible when we facilitate online payments for all our needs so that everyone is on the same page, connected! This partnership is another step towards that goal. We at PayU are dedicated to creating a fast, simple and efficient payment process for all our partner businesses.

Click on these links below to know more about PayU-Zoho CRM partnership:

The Times of India, CIOL, IANS Live, PTI, Business Today, India Today, India Infoline, VAR India, SME Channels, SME Street, NewsR, Banking Frontiers

The post PayU Partners with Zoho CRM, Enabling Businesses with Seamless Payments appeared first on PayU Blog.