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.

The blog discusses how the home improvement industry has experienced significant growth in the online space, with offers, cashbacks, coupons and discounts playing a crucial role. Pepperfry, a leading online home improvement brand, has achieved great success by leveraging PayU’s Offer Engine, a tool that helps businesses manage end-to-end offers. The blog highlights the benefits of using PayU’s Offer Engine, such as real-time performance analysis, attractive offers, instant cashback offers/ vouchers/ coupon codes and streamlined settlement processes. Pepperfry’s partnership with PayU has resulted in a substantial increase in transactional volume and gross merchandise value (GMV). The blog concludes by emphasizing the importance of adapting to customer preferences for deals, offers and discounts.

Table of contents:

1. What are customers buying the most during sales season?
2. How are festive deals helping home improvement industry?
3. How has Pepperfry dominated the industry with offers & discounts?
4. What is PayU’s role in Pepperfry’s enormous growth numbers?
5. What is PayU’s Offer Engine? How does it help businesses?

With the sale season blazing on, browsers are quickly turning into buyers. Customers wait all year for this period to catch top deals and discount offers on gadgets, clothing, home décor, and more. Product offers & big discounts are one of the most crucial aspect which can either make or break conversions for businesses. One industry that is thriving on the irresistible offers is home improvement, it is also getting a lot of visibility in the online space lately.

One of the fastest growing categories, at about 10% CAGR, home improvement was once a 100% offline space. Owing to the shift in customer behavior and technological upgrades, home improvement category now has a diverse range of buyers – ~25% online, ~25% offline, and ~50% omnichannel.

This split can be attributed to various factors. One such factor is providing hefty discounts, impressive deals and massive savings. While making a purchase from any medium – offline or online – the volume of sales depends on the exclusive discounts provided by a business.

Customers are attracted to monetary rewards which ultimately depends on the limited time deals your brand provides, particularly on online websites. Thus, giving omnichannel audience the biggest share.

Adapting to these changes is a major challenge for brands. But one brand that has succeeded in the home improvement category is Pepperfry.

Pepperfry x PayU – Growth story

Pepperfry is a leading ecommerce home improvement brand that provides an amazing collection with the best deals. Pepperfry is supported by the PayU Payment Gateway, ensuring the best success rates in the industry for their online store.

Pepperfry powers its sales using PayU’s Offer Engine, a powerful tool that helps businesses acquire, scale, and retain customers. It helps businesses:

1. Manage end-to-end offer lifecycle with an interactive dashboard for real-time performance analysis.
2. Source or execute attractive online shopping offers, no cost EMI or low cost EMI offers, and features like SKU-based offers, BIN-specific offers, and weekday offers.
3. Reduce operational burden while handling recon and settlement.

How did PayU’s Offer Engine support Pepperfry’s growth?

For instance, Pepperfry ran multiple co-funded offers from different issuers and sought support to manage their settlements and reconciliation. They also wanted to offer promotional codes/ coupons, and a seamless offer management tool to streamline it all. PayU’s Offer Engine solved all these challenges.

Together, we delivered exceptional results, from sourcing and executing 25+ issuer offers to managing end-to-end recon and settlement. Moreover, we ensured a seamless payment experience to end customers and maximum uptime to the brand.

PayU remains the preferred payment gateway aggregator for transactions via Pepperfry.

Growth Statistics:

Here’s a glimpse at how Pepperfry’s sales grew since adopting Offer Engine in 2022.

The below graph represents the growth in GMV for the same months in 2021 – without Offer Engine vs 2022 – with Offer Engine.

The bar graph depicts the GMV growth in the same months for 2021 (without Offer Engine) vs 2022 (with Offer Engine)

PayU Offer Engine helped Pepperfry boost their average transactional volume by about 140% and GMV by over 170%.

The graph below is a comparison between the same months of 2021 and 2023 – the former being without Offer Engine and the latter with Offer Engine.

The line graph shows how the GMV has grown m-o-m in 2021 vs 2023

“PayU has been an invaluable partner in our growth journey at Pepperfry. Offer Engine has played a pivotal role in driving significant growth in our business. From seamless offer execution to efficient reconciliation and settlement, PayU has consistently delivered excellence. As our preferred payment partner, PayU has significantly improved our transaction success rates. With PayU by our side, Pepperfry continues to thrive, and we look forward to growing together.” – Pepperfry

Along with Pepperfry, over 5 lakh business are powered by PayU and its products. As customers are motivated by cashbacks and discount, it is becoming increasingly important for brands to adapt. PayU offers a one-stop solution for all your needs – PayU Offer Engine, tailored as per your demands to deliver the best buying experiences.

To learn more, go to PayU Offer Engine.

The post How PayU’s Offer Engine enabled a 150% growth in Pepperfry’s GMV appeared first on PayU Blog.

Meanwhile, the businesses gear up for the most critical quarter of the year. The festive season in India is nothing short of magical.

Festive season accounts for nearly 40% of a business’s annual turnover. The entire duration of about 8 weeks helps businesses get more conversions, attract new customers, activate dormant ones and make people shift items from their wish lists to their carts.

However, the journey to growth is never easy and one needs support.

Festive Season Business Challenges:

01. Scaling up – Attracting and targeting new customers

02. Customer Experience – We know how people want to have a frictionless experience whilst they shop.

03. Financial Freedom for businesses – With the surge there can be chances of businesses facing working capital crunch.

PayU’s 3 Pillars

PayU is here with its festive formula, supporting businesses to #SaleOnScaleOn. Through this formula, we aim to support businesses and allow them to easily navigate the sales season challenges.

PayU’s support is backed by the 3 important P’s – our people, products and processes – all working in tandem to ensure a soaring success for all.

Products:  With excellence in innovation and technology, PayU has a product suite to cater to all that business’s needs. Moreover, we also recently launched PayU CommercePro to help businesses with a one-stop-solution to fuel growth.

Processes: PayU with its robust infrastructure and repeated test runs ensures a 24*7 platform serviceability, one that businesses can trust.

People: PayU with its dedicated teams, war-rooms and a 24*7 support is determined to give the best experience to its partners.

We at PayU will be sharing all the important information on products and how they can benefit you in the coming weeks. Stay Tuned!

To know more click here.

The post PayU’s Festive Season Formula: #SaleOnScaleOn appeared first on PayU Blog.

Health insurance still isn’t a common investment term for many in India. Hence, a huge part of the population struggles with financing their families’ day-to-day healthcare.  

According to health insurance statistics in India, 31% of hospitalizations are financed with loans and 47% by selling assets.

Also, 70% of Indians spend their entire income on healthcare, and 3.2% go under the poverty line due to excessive medical costs. 

As per the Insurance Regulatory and Development Authority of India (IRDAI), Goal 2047 aims to cover 100% of India’s population under insurance by 2047. However, around 40 crore Indians still lack health insurance for various reasons.  

Reasons for low insurance penetration 

As per studies, there are multiple reasons why people may not opt for insurance: 

Talking about high premiums, 4 out of 10 people find insurance premiums very high, discouraging them from getting insurance.  

Consider a family of four – a couple and their two children.

For health insurance cover of ₹10 lakhs, they need to pay a premium of about ₹25,000 annually. As the monthly disposable income of 80% of Indian households is below ₹20000, paying the premium upfront is a challenge.  

How PayU is supporting the insurance industry with EMI integration

PayU understands that customers have buying intent but may be limited by their budgets. We strive to best support our partner businesses in providing their customers with the best affordability solutions. Insurance penetration with PayU’s EMI Integration

Our product suite includes the best EMI schemes – be it on credit cards from 16+ issuers or debit cards from 6+ issuers. People who don’t have credit or debit cards can opt for cardless EMIs supported by 6+ partners.

One of our partner businesses, a leading health insurance brand, trusts us with our Affordability Suite and saw an average m-o-m growth of 133% in conversions.

This is only the start, and we aim to support insurance penetration with PayU’s EMI Integration. Also, empower insurance businesses and help IRDAI achieve Goal 2047.

The post Aligning PayU’s product suite for insurance to achieve IRDAI’s Goal 2047 | PayU EMI appeared first on PayU Blog.

PayU is the preferred payment partner for the biggest travel players

Over 10+ online travel aggregators are integrated with PayU’s Affordability Suite. PayU’s integration has helped them clock a ~30% month-on-month GMV growth via EMI options alone in 2022. Owing to the present affordability trends, travel brands are actively opting for EMI and BNPL options. This not only helps increase conversion but also fuels growth.

For instance, India’s biggest travel aggregator, with an average monthly traffic of 45 million, has shown continuous growth in GMV of 25% (month-on-month) using EMI options under PayU’s Affordability Suite.

Other PayU products leveraged by OTAs

With PayU’s Affordability Suite, India’s top OTAs enjoy the highest coverage of EMI options. This includes credit card EMIs from 17+ banks, debit card EMIs from 6+ banks, cardless EMIs from 6+ providers, BNPL offers from 5 partners, and many no-cost EMI options.

In addition to these, PayU provides best-in-class API solutions. PayU also offers an Affordability widget that enables our OTA partners to provide a frictionless customer experience on their websites and apps.

These include:

Click here to learn more about the product offerings.

PayU’s Affordability Suite has helped players in the travel industry unlock a new level of growth. Moreover, PayU is continuously supporting them with best-in-class product offerings to improve their customer experience.

You, too, can power your travel business with PayU’s Affordability Suite in just three simple steps. Click here to learn how.

The post PayU’s Affordability Suite Fueling Growth in India’s Travel Industry appeared first on PayU Blog.