PayU, India's leading payment gateway, has launched an initiative to help residential societies and its residents to collect and transfer their dues online amidst COVID-19 pandemic. Through PayU's offering, a resident welfare association (RWA) will be able to build a free customized website for its society with a built-in payment gateway and give residents a seamless checkout experience.
The societies and RWA's will be able to collect their dues instantly with payment links, which can be easily created and shared with residents via SMS, email and WhatsApp from the web or PayU app. The dues will be transferred immediately to the RWA's bank account. RWA's and societies will be able to auto-generate their society invoices and will be able to share it with residents via their preferred mode of communication. The residents will be able to pay their dues via 100+ payment modes including credit cards, debit cards, UPI, Net banking etc. from anywhere, anytime in a single click.
This initiative will be of great help for residents living in the society in the given scenario, because of its contactless nature and quick payment collection technology, adding to their safety and health aspect. For societies, customisable webfronts offer free websites, easy tracking and reconciliation of payments for administration purposes and reduction of human error. For residents, they offer a contactless, convenient and highly secure and transparent mode of paying their monthly dues.
Recently PayU also launched several innovative initiatives to help merchants, small and medium businesses (SMBs), NGOs and entrepreneurs manage the disruption caused by the COVID-19 crisis. For SMB's, PayU offered to build a free website for any merchant's business with a built-in payment gateway and get 100% TDR waiver on the first INR 50,000 worth of business done via PayU. Extending their support to NGOs and charities in collecting relief donations for COVID-19, PayU had announced zero transaction fees and processing of donations at no cost.
Through 'Startups Helping Startups' platform launched by PayU, emerging businesses were able to take help from each other. With as many as 32 partners such as Shopify, ZOHO, Shopmatic, Verloop, Atlassian, etc., start-ups were able to avail offers ranging from setting up e-commerce stores at INR 50 per month to the free web, app and Whatsapp Chatbots for customer support automation. Further to facilitate easy lending for businesses and help businesses get easy credit, PayU partnered with Indifi to bring easy loans for its merchants who needed credit to run their business smoothly. Merchants were able to avail loans that amounted up to INR 50 lakhs with offers such as revolving line of credit with the flexibility of drawdown as and when needed.
About PayU India
PayU, India's leading online payment solutions provider, is regulated under the Reserve Bank of India and has advanced solutions to meet the digital payment needs of the Indian market.
PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology. In India, PayU serves more than 350,000 merchants with 70+ local payment methods and is the preferred payments partner for nearly 60% of the e-commerce merchants, including all leading e-commerce companies and a majority of airline businesses.
PayU also developed LazyPay in 2017, an alternate lending platform to offer credit solutions such as Small Ticket Credit (Buy Now Pay Later), App-based loans (Instant personal loans) and Point of Sale Credit (Merchant EMI). LazyPay Buy Now Pay Later is currently live on 100+ merchants such as Byju's, Swiggy, Flipkart, Makemytrip, Dunzo, Vodafone, Zomato, Bookmyshow, Oyo, Tata Sky and many more.
Financial News Bureau
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