Recently, I have used PayUMoney company's payment gateway for getting money through debit card or credit card from my Indian customer. So, it is the time to review its services.
PayUmoney is the brand of Indian private company. Its other brand is PayUIndia, PayUbiz. It is working since 2011 and its head office is in Gurgaon. It provides the payment gateway. For example, I need the money from my customer and my customer is ready to pay through his debit or credit card. So, I need payment gatway company.
Before getting payment from this company, I did written agreement on stamp paper. With this payment gateway, you can also the payment of your provided service or goods.
Reviews
Good Points
1. To Demand the Money through Email is Easy
In its dashboard, you can find tools. One tool is Email invoice. It is just like request of money through email. It is almost same button of paypal. You have to write the amount, email address of your customer and some detail of his order. Within second, this email will go to the customer. If customer is ready to buy the product. He will go to PayUmoney server and will pay through his card or net banking. So, it is fast system and both customer and marchant like me will get benefit from it. Few days ago, one of my customer has bought from my online store. He was not interested to deposit directly into my bank account. So, today, I send Email Invoice through PayUmoney and after 5 minutes, I got the message from PayUmoney that I have received the payment of Rs. 2000 and it is still with PayUmoney.
2. No Extra Cost
PayUmoney will get service fees if it will get success my payment from my customer. It is 2% + (14.5% service tax on 2% fees)
My customer has given Rs. 1800 to PayUMoney because I sold my product. It has given me Rs. 1758.77
Total Money given by Customer = Rs. 1800
Total Fees taken by PayUMoney = Rs 41.22
1800X2% = 36
36X14.5% = 5.22 (Service tax)
= =============================
Total Money received by me = Rs. 1758.77
It has give me also discount = 0.01
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3. Large Number of Banks are Connected with PayUmoney
All most all debit and credit card of banks can be used. So, your every customer who has any bank's ATM card or credit card can pay your product's cost through PayUmoney.
4. No Delay of Payment
If you are new customer of PayUmoney like me, you have to upload the proof of receipt for requesting the payment. Within 5 days, you can get your payment. I already have received one payment. I have asked, why it keeps for 5 days the money of merchant. It is necessary for protection of buyer. After 3 month, there is no need of sending proof to payumoney for getting money.
5. What if You are Selling Digital Products?
All digital products are transferred online. So, there is no need of physical delivery. At that time, we have to make pdf of invoice and send it to payumoney for getting money.
I am still new in PayUmoney and experimenting this payment gateway. In future, this content will be updated. So, bookmark this content for future updates. If you have any question, you can ask through comments.
Important : As per the rules of RBI, all Payment gateway companies keep merchant's money in Nodal Account.
So, try PayUmoney by Sign up for PayUmoney
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