PayUPaisa’s ZERO Transaction Offer has proven to be a massive success and owing to this achievement, the parent company PayU India has decided to extend this offer till 31st December, 2013. This means any merchant who registers with PayUPaisa does not need to pay any TDR (Transaction Discount Rate or Merchant discount Rate) on any transaction till the end of this year! The offer stands valid for all existing merchants as well. This makes PayUPaisa the only online payment solution in the Indian market which is absolutely FREE! (NO Setup Cost, NO maintenance charges and Zero TDR)
The Zero Transaction offer was rolled out in first week of July 2013 and since then PayUPaisa has attracted more than 26,000 merchant registrations! And, close to 14% of these are live! A noticeable chunk of these merchants are SMEs, freelancers, small businesses, individuals, and stores running from homes, who otherwise find it difficult to come online. Keeping these encouraging trends in mind and eyeing the upcoming festive season during Oct-Nov-Dec period, PayU India has decided to extend the offer by another three months. In fact a lot of seasonal merchants prosper during the festive season and even the existing merchants tend to run a series of promotional offers to attract online buyers. PayUPaisa’s free offering along with its promise to take a merchant live fast with bare minimum online documentation, is bound to attract a gigantic number of sellers during this season.
“When we launched PayUPaisa this year, we set our selves a hard goal of getting 1 million sellers to accept payment online, when actually the total market size was only about 10,000. In the last quarter we saw a 4X higher adoption rate among merchant, due to transactions being free. By extending this offer, we want to make an attempt at exploding this market faster. The scale and adoption we are seeing is forcing us and our partners to take their systems and processes to the next level. We even upgraded the seller dashboard to an advanced level last month. In it, a new free feature called ‘event tool’ has been introduced which specifically helps merchants to create customizable webfronts for events, seminars, and conferences and get paid online for the same. Through PayUPaisa, schools are collecting fees online, housing societies are collecting maintenance fees, art enthusiasts are selling self-made paintings, housewives are selling home cooked food and cakes, SMEs are collecting bill payments from their customers and the list goes on. PayUPaisa is empowering a whole new set of people to collect payments online without any headaches.” quoted Nitin Gupta, Co-founder & CEO, PayU India.