Nasper Group, a $25 Billion internet and media conglomerate, own PayUMoney. PayUMoney is an award winning payment gateway service that helps you to make and receive payments online fast and securely. The company uses state-of-the-art technology to enable thousands of businesses in India do business online securely. The company has managed to create a safe and secure ecosystem that enables you to make and receive payments without worrying about privacy and online fraud.
The best thing about PayUMoney service is that you can start making and receiving payments within minutes after you register. Unlike other payment gateways that takes hours to get activated, PayUMoney becomes active within a few minutes. Its account activation process has been designed in such a way that you can start accepting payments in less than 5 minutes.You don’t need to open a separate bank account to transact with PayUMoney. The service gives you the flexibility to receive settlement in your preferred bank account. Providing your bank account number and IFSC code is enough to link any existing Current or Savings account with PayUMoney.
The service offers a wide range of payment options. You can accept payments using UPI, Cards, Netbanking and Wallets. The service also enables you to get a snapshot of your business, transactions, refunds, disputes and settlements from one single dashboard. You can download reports across data segments or view real time transactions and take appropriate measures to steer your business in right direction.Account management is easy too. The payment gateway service lets you edit your business details, notification settings, webhooks and bank details and reports.
Your customers are not redirected from your website while making payments and the incredibly fast payment service makes your customers happier than ever. All you need to do is add a few lines of code to your website to enjoy PayUMoney’s lighting fast, glitch-free payment gateway service. All transactions are secured with 128 bit SSL encryption and two factor authentication so that even if you don’t have an ‘https’ site, you can transact securely and safely. PayUMoney applies 100+ risk rules for each transaction and lets you do business in peace.
PayUMoney Promo Codes
PayUMoney is the payment gateway solution provided by PayU India. It enables your online business to make and receive payments securely. It is the easiest way to go online. Naspers group, a $25 Billion internet and media conglomerate listed on London and Johannesburg stock exchanges respectively, owns the company.
PayU provides state-of-the-art payment gateway solutions to more than 3.5 lakhs online businesses and uses all the advanced and award winning technologies to create a safe and secure ecosystem that enables you to make and receive payments. The company ensures optimal use of latest technologies through continuous innovation and blends convenience and trust into your business. You just need 5 minutes to go live and collect payments online.
What is a Payment Gateway?
A payment gateway is type of merchant processing service that helps your business accept a transaction payment through an encrypted channel for security. It is an e-commerce solution that uses customer’s credit card or debit card or NFC/RFID enabled device. This merchant service is provided by an e-commerce application service provider like PayU. The company authorizes credit card or direct payments processing for online businesses, online retailers, bricks & mortar or bricks & clicks. You may use the payment gateway provided by your bank, or you can get it from a specialized payment service provider like PayU, as a separate service. When you use a payment gateway to make and receive payments, information related to payments is transferred to and from a payment portal(website, mobile phone or interactive voice response service) and the front end processor or acquiring bank securely so that nobody else can have access to those information and make fraudulent or unauthorized transactions.
How a Payment Gateway Works
To buy anything online, we must pay online too. We can pay using a debit card or credit card or net banking facility provided by our bank. But you must remember that although we give out our banking details to the online store we are buying from, the details are sent to bank securely through a payment gateway that performs various tasks to protect you from fraud and complete the transaction:
Encryption: Web browsers like Microsoft Edge, Google Chrome, Mozilla Firefox or Apple Safari encrypts the data to be sent between it and the online store’s web server. The transaction data is then taken over, encrypted and transferred to the payment processor utilized by the online stores acquiring bank by a payment gateway like PayUMoney. PayUMoney uses state-of-the-art 128 bit SSL encryption and 2 factor authentication to make sure that your data(banking details) cannot be accessed by any unauthorized person who can use the data to make fraudulent transactions. 128-bit encryption uses a 128-bit key to encrypt and decrypt data or files and is used in most modern encryption algorithms and technologies. 128-bit encryption is trusted for being logically unbreakable. The 2 factor authentication adds another layer of security, supplementing the username and password model with a code that only you have access to (typically a verification code sent to you mobile phone via SMS). This authentication method is a combination of something you have and something you know.
Authorization Request: After the encrypted data is received by the payment processor of the acquiring bank via PayUMoney, the payment processor sends the transaction data to a card association. The bank that issued your debit card or credit card views the authorization request, validates and then “Approves” or “Denies”. You should know that a payment processor is a company(often a third party) appointed by a merchant to handle transactions from various channels such as debit cards and credit cards for merchant acquiring banks. There are two categories of payment processors – Front-end processor and Back-end processor. Front-end processors have links with various card associations and provide authorization and settlement services. Back-end processors accept settlements form front-end processors and, via The Reserve Bank, and them moves the money from the issuing bank to the bank trusted by the online store. The entire process takes a few seconds to complete but within that the pay processors conducts a series of anti-fraud activities against the transaction.
Filling the Order: The payment gateway processed any transaction as a “card-not-present” transaction. This means that you have to rely on the credit card information that your customers enter. You can never actually see the customer’s credit card. During the card-not-present sale, nobody can run the data on the card’s magnetic strip or EMV chip. An authorization pertaining to the merchant and the consumer is forwarded to the payment gateway by the processor. Once the gateway obtains this authorization, it activates the website or interface to process the payment and the merchant fills the order.
Clearing Transactions: All the steps mentioned above are repeated to “clear” the authorization via the payment gateway. But, the clearing only happens once the merchant has actually shipped the order. The amount is debited from the account holders account by the issuing bank, allowing a “settlement” with the vendor’s acquiring bank. The settlement is also done by the payment gateway processor.
Payment Gateways Do More
Payment gateways also screen orders to detect fraud by using tools like Delivery address verification, AVS checks, Computer fingerprint technology, Velocity pattern analysis, Identity morphing detection and Geolocation. Some payment gateways even calculate tax amounts to authorize requests transmitted to the processor.
Why is PayUMoney The Easiest and Best Way to Go Online?
PayUMoney is the easiest and safest way to go online because of multiple reasons:
- Easy to Use – Using PayUMoney as the payment gateway for your business doesn’t require much knowledge in Information Technology or Computer Science. You yourself can set up a PayU payment gateway, really! Whether you are a growing market place, an e-retailer or a service provider, PauU helps your business accept mobile and online payments without investing much in R&D.
- Super Fast Activation – Registering for PayUMoney service is very easy. You don’t need to submit any physical documents but you get complete onboarding experience by providing minimal information. Your account is setup within minutes.
- State-of-the-art Security: PayUMoney uses 128-bit encryption technology which is considered to be unbreakable because it would take extra-ordinary supercomputers, virtually thousands of years to decrypt the code. Advanced Encryption Standard(AES) is a popular encryption algorithm that supports 128-bit encryption. This encryption technology secures most network/internet communications.PayUMoney also uses two factor authentication for added security. Multi-factor authentication(MFA) is a method of confirming an internet user’s claimed identity by verifying something the user knows, something that only the user has and something the user and only the user is. The company applies 100+ risk rules for each payment so you can focus on your business and never worry about data security.
- Get settlement in your preferred bank account: With PayUMoney you don’t need to open a new bank account for collecting online payments. You only need to provide your account number and IFSC code to link your existing Savings or Current account.
- Multiple Payment Options: Pamper your customers with a wide range of payment options like UPI, Cards, Netbanking and Wallets. PayUMoney supports UPI payment mode and it is the default checkout option. This system makes sure that a customer is not sharing sensitive banking information to complete a transaction. Your customers will be able to make payments using Debit and Credit Cards from all card associations. They can also save their card details to make future payments and check out faster. Your users can make payments using 50+ Net Banking options from various banks.PayUMoney also let your customers pay using their favorite Digital Wallet.
- Transactions Management: The PayUMoney dashboard is user-friendly and helps you to take business decisions 24X7. It enables you to manage your transactions, refunds, disputes and settlements easily. You can view real time transactions and download reports across data segments. PayUMoney payment gateway is all about doing business online with full control on every transaction you make.
- Account Management: Managing your PayUMoney is really easy. The dashboard enables you to edit your bank details, webhooks, business details, notifications and reporting easily. The interface has been designed to make your life easy by presenting everything is a comprehensible manner.
- Dynamic Notifications: The intelligent system alerts you about important events and take action on the go. With PayUMoney you will never miss anything important ever.
- Integrated payment experience: Many customers leave because of slow payment forms and limited payment methods. PayUMoney gives your customers multiple payment options, and intuitive payment solutions that works lightning fast.
- Responsive Design: Highly optimized, responsive web design has been used to create the PayUMoney payment gateway interface. The design automatically adjusts checkout page of devices like smartphones, tablets, laptops and desktops.
- Automatic Updates: Once you integrate PayUMoney payment gateway service you know that all the supporting new features and payment methods will get updated automatically.
- Easy to Integrate: Simply add a few lines code and your business will be ready to receive payments from your customers. Once you provide your bank details, the amount is credited to your bank account on a 2-day rolling basis.
- Be App ready: PayUMoney provides lightweight and easy to integrate mobile SDKs for Android and iOS platform so that your customers can transact with your even from their mobile phone.
- Lowest Price Assured: Just 2%(*Applicable till March, 2019) per successful transaction. GST as applicable. 1% extra on Amex. You don’t need to pay any Set Up Fee. you don’t need to pay any Annual Maintenance Fee. Simply integrate the gateway and start using it. You are also eligible to get customized transaction rates once the amount of payment processed reaches 10 lakh INR/month.
- Start/Suspend/Stop PayUMoney Service anytime: You can start, suspend or stop PayUMoney service whenever you wish – you are not charged for any of these activities.
The company collects every possible information about you which is can be used to operate their business, deliver and improve PayUMoney payment gateway service and sell you new products. It may obtain the following information about you and your device that you use to run your business:
(i) Profiling Information: PayUMoney collects certain information for registration such as your name, physical addresses, postal addresses, telephone and fax numbers; and certain information about your personal identity such as gender, age, etc. Your usernames, passwords, email addresses and other security-related information that you use for our Sites in relation to Payment Gateway Services are also stored by the PayU.
(ii) Service Usage and Transactional Information: PayU may store your bank account details, credit/debit card information, or other payment instrument details required for a successful transaction. For bill payment service, the company needs your account number, payment history, your account transaction ID, date and time of transaction, amount spent, merchant name, transaction ID, etc. The company may store information relating to your income and lifestyle levels. All information stored by the company is in accordance with our PCI DSS Certification.
(iii) Navigational and Log Information: PayUMoney records how you navigate its Services, for example the URLs of websites from which you reach our Site, and from which you request downloads, pages visited/ downloaded on our Site, websites or pages of merchants you visit using our Services. It also records your domain name, web request, IP address, browser type, browser language, location, date and time of request, mobile application version, type of operating system that your computer uses, the products you buy, the referring site, and the time that you spend on the site.
(iv) Correspondence Information: PayU collects the content, information about your correspondence, the destination/origin of communications between you and any other person using PayUMoney Services, which include email communications, blog, experts forum communications, facsimile mail communications, membership of mailing lists, chat room and discussion board communications, instant message communications, etc.
(v) Cookies: A cookie is a small software that is installed in your web browser, if your web browser settings permits, It records information about your online preferences and allowing payU to offer you more customized services. Your browser notifies you when you are sent a cookie, giving you the chance to decide whether or not to accept it. If you do accept a cookie, you thereby agree to let PayU use the information collected by that cookie.
(vi) Stored Information: PayU collects any data or information either created by you or by a third party and which you wish to store on PayU’s servers such as usernames, image files, documents, etc.
(vii) One Time Password (“OTP”): OTP is a one-time password which is provided by your issuing bank and sent to your mobile via SMS in order to carry out the second factor authentication of your debit/credit card. If you opt for PayU’s ‘one tap’ feature, you understand that the company will be able to retrieve your OTP from the message received on your mobile and populate and submit the OTP on the issuer’s page for second factor authentication of your debit/credit card.
What is the per transaction charge on PayUmoney as of 10/11/2018?
PayUmoney charges flat 2% + GST (18%) for each transaction. Example:-
Customer Paid: ₹ 100
Transaction charge: ₹ 2
GST: ₹ 0.36
Amount settled: 100 – 2 – 0.36 = ₹ 97.64
PayU has a developer friendly robust technology stack. You don’t need any lengthy codes to integrate the PayUMoney payment gateway. From PHP integration to your mobile App or shopping cart configuration for your online store you get everything ready-made from PayU. You also get detailed documentation and references that makes building any payments system easier than ever. Libraries and APIs, available in most widely used languages – PHP, Python, Ruby or Node.js, work seamlessly with your existing system.