Persistently rolling its wheel uphill, PayUmoney attains another significant milestone of a widespread merchant base of over one lakh. Crossing the benchmark, the number goes beyond a whopping 1, 10,000 at present. PayUmoney is the only online payment solution company that has very efficaciously maintained a fine balance between the number of consumers and the merchants. This feat makes PayUmoney the ‘most accepted online payment solution’ in India at present.
Adding to the insights of the accomplishment, Mr. Nitin Gupta, CEO & Co-founder, PayUmoney commented, “One of the major USPs of our brand, is its wide acceptance. With this success, we have taken the industry norms a notch higher and set a new yardstick for its players. We realized that it practically makes no sense having millions of consumers and a small merchant base catering to them. A balance between the two must be maintained in order to even out the chaos that could be created, when millions of users are dependent on some fifty thousand odd merchants.”
However, the cause of this development in PayUmoney could also be attributed to its empathetic approach towards the merchants. Having identified the loop holes and concerns of the traders empaneled with the company, it has accordingly segregated the merchant base into two categories. The first category is the merchant base trying to set its businesses up, with limited capital to adopt expensive online payment solutions. The second category is the slot of small startups, with an initial round of funding, looking at integrating a reliable and cost effective online payment system.
PayUmoney has devised seven unique tools to suit specific requirements of small merchants. These tools are Email invoicing, SMS invoicing, Web front, Web store, Events tool, PayUmoney Button and PayUmoney app. It is important for startups to have an online system which gives their customers a seamless and secure online transaction experience. In view of this, four different value propositions were built for the consumers, which were instant refunds, buyer protection, faster checkout and reward points. Owing to such policies and services in place, PayUmoney will continue with its efforts in offering the best in the digital payment space.