Redefining Payments, Simplifying Lives!
New Delhi, April
18, 2013 – PayU India, the fastest
growing online payment company in country, today, launched PayUPaisa, a
revolutionary web based product which empower buyers to pay and sellers to get
paid online. It’s a first product of its own kind in India which allows any
individual or a business to go online in a matter of few minutes and start
collecting online payments. The product is free for sellers and provides
beneficial selling tools like a free webstore, free storefront and email
invoicing. On the other hand, PayUPaisa has a strong dispute resolution centre
to safeguard buyers and keep their money safe even when they have paid for a
product or service.
Why Sellers will
use PayUPaisa:
What actually hinders a seller in India to come online and sell?
(a) Seller needs to invest time and money in making a website (b) Investment
required in getting a payment gateway (c) Series of documentation process which
has a significant lead time
PayUPaisa solves all these 3 problems: It’s FREE, It’s FAST and
everything is ONLINE including the
documentations process.
FREE & FAST: PayUPaisa enables a seller to make a free webstore in few
minutes. The seller can upload the logo of his store, information regarding the
store, contact details etc. He can upload as many product as he wants along
with product images. Once he’s through this short process, he can publish his
store on web and publicise the URL of his store on social networking platforms
and thereby pull in the consumer traffic. By default every store on PayUPaisa
has a free payment gateway integrated in it (powered by PayU) This way a seller
clears two major roadblocks when it comes to online selling
ALL ONLINE: For the first time, a payment company has introduced the concept
of ONLINE DOCUMENTATION. This means no more lengthy signups or bulky form fill
ups. No physical documentation required and not even scanned copies. If anyone
wants to sell online all he/she needs to do is just punch in the PAN card
number, bank account details and the verification process is over!
Seller Use Cases:
Who can be a seller on PayUPaisa?
Virtually anyone! Be it a small handicraft seller in chandi chowk or an individual
who wants to sell paintings online. A school which wants to collect fees
online, a Housing society which needs to collect maintenance fees, an event
organizer which intends to collect entry fee/ticket fee, a restaurant which
wants to get paid for home delivery etc.
Why Buyers will
use PayUPaisa: Because PayUPaisa safeguard
buyer’s money and protect him through its strong dispute resolution process.
PayUPaisa has various safety checkpoints to make online buying totally safe.
Safety
Checkpoint 1: A buyer purchases a product
from any PayuPaisa webstore or storefront, his money is kept safely with
PayUPaisa and is not released to the seller in first go.
Safety Checkpoint
2: When the seller sends a proof of
product delivery to PayUPaisa or the buyer explicitly informs PayUPaisa to
release the payments, only then the buyer’s money is transferred to the seller.
In case if PayUPaisa doesn’t receive any confirmation from the buyer in 3 days
after the product delivery, the payments is released to the seller by default.
What if
something goes wrong with the buyer’s placed order?
Safety
Checkpoint 3: In an unlikely case, where a
buyer faces a problem with the delivered product, he can raise a quick dispute
with PayUPaisa’s dispute resolution team. This team will resolve the dispute in
an unbiased way so that the buyer does not face any financial loss. The dispute
needs to be resolved in maximum 12 working days and PayUPaisa refunds back the
money to the buyer if the dispute is found to be genuine.
PayUPaisa’s
Buyer Protection Mechanism
For a country
like ours which has a population of over 1.2 billion out of which more than 300
Million have a bank account, and an internet penetration which exceeds 150
million; only fewer than 7 million people actively buying online is a miniscule
number. What is even more disappointing is that with over 30 Million SMEs and
around 5 Million freelancers in India, fewer than 10,000 people sell online
today. PayUPaisa was
born out of these needs and intends to solve the above problems. Our objective
is to enable 1 million sellers and 20 million buyers on PayUPaisa platform in the
next 3. We will redefine the way payments will happen in this country and
believe PayUPaisa is a market disrupting payment solution.” quoted Nitin Gupta, Co-founder and CEO at PayU India.
About PayUPaisa
PayUPaisa is brought to you by PayU India which is India’s fastest growing online payment company.
Founded
in October 2011, It started as the 14th Player in the online payments space and
offered payment gateway solutions to the e-commerce businesses. Owing to its
innovation leveraging technology, patent pending algorithms, robust sales force
and amazing customer service, PayU achieved the feat of having the highest
merchant acquisition rate in the country. PayU’s success story is seconded by
the fact that is now the NO.1 payment aggregator in the Indian e-commerce
category and No.3 player in the overall payments Industry. PayU services more
than 4000 merchants as on date. Its merchant clientele includes names like Goibibo,
Snapdeal, Bookmyshow, Jabong, Ferns n Petals, Freecharge, Zomato, Tradus,
Rechargeitnow and Groupon India.
PayU
India is headquartered in Pearl Tower, Gurgoan and has regional offices in
Mumbai and Bangalore. It’s close to 150 people strong and has dedicated Pan
India teams for Engineering, sales, operations, customer support, dispute
resolution and marketing.
1 comment:
You have to send many documents to them like-
Firm Existence and Address Proof
The following documents are needed from your end:
1.
Pan Card of the individual or firm signed by the sole proprietor and proprietor stamp on it.
a) PAN Card Photocopy of full page size;
b) All Data Visible
c) Photograph Visible
2.
Sole Proprietor Letter signed by the individual/sole proprietor on the firm letterhead and proprietor stamp on it.
3.
Any one of the following Government issued certificates:
a) Sales Tax Registration
b) Income Tax Registration
c) Municipal Registration Certificate
d) Shop and establishment registration i) Check Full page photocopy
ii) All Data Visible
iii) Signed by the sole proprietor and proprietor stamp on it.
4.
4. Any one of the following:
a) Landline Telephone Bill
b) b. Electricity bill (In case the telephone number is not displayed in first page kindly provide the page in which it is displayed, In case of Rented Premises, please furnish NOC) i) Check Full page photocopy
ii) All Data Visible
iii) Signed by the sole proprietor and proprietor stamp on it.
*If the merchant is using premises which is in the name of other firm the NOC has to be on the Letterhead of the firm duly stamped and signed by the authorized signatory. If the merchant is using premises which is in the name of the individual the NOC can me on a plain paper with the concern person's signature.
5.
Audited balance sheet and P/L statement for the two years or current account statement for the last one years or ITR last financial years.
Verification of Authorized Signatory
The following documents are needed from your end:
1.
1. Bank Verification Letter. Copy of the letter has to be taken on letterhead of the merchant/Bank duly verified and stamped by bank.
(Please verify Bank Stamp Visible with all required details with printed date/Designation/Banker Name/EMP ID)
2.
Proprietor address proof: Self Attested Copy of any one of the following:
a) Passport,
b) Driving License,
c) Voter's ID Card,
d) Property Tax Receipt in Proprietor's name
Merchant Mandatory Details:
The following documents are needed from your end:
1.
List of product and services on firm letterhead that you will be selling signed by the individual/sole proprietor and proprietor stamp on it.
a) Letter on Firm's Letterhead
b) Individual/Sole Proprietor Signature
c) Firm's Stamp on Letter
2.
Last audited P/L statement and balance sheet OR Last 12 month (or from the date of opening) the bank statement of the firm with bank seal/logo.
– less than 2 years then required.
a) Letter on Firm's Letterhead
b) Individual/Sole Proprietor Signature
c) Firm's Stamp on Letter
*Please make sure all the documents (pages) are signed by the Individual/Sole Proprietor and has Sole proprietor stamp on it.
SO PLEASE GIVE CORRECT INFORMATION ON YOUR BLOG IT IS NOT SO EASY AS JUST PUNCH IN YOUR PAN NO AND GIVE YOUR BANK ACCOUNT DETAILS.
Post a Comment