PayU Payment Gateway FREE with Zepo
We realize that payment gateways are priced rather highly. And for small businesses it means that the high cost of processing online payments would eat up margins. And that is why we offer you a free PayU payment gateway when you sign up with Zepo.
You get this free payment gateway on the following 3 pricing plans, either on a 6- months subscription or on a 12-months subscription::
1. In the Starter Plan
2. In the Pro Plan, or
3. In the Unlimited Plan
Even though we provide you this payment gateway for free, it is registered on your company’s name and shall remain your company’s property life-long!
Q: Why a PayU free payment gateway?
A: Although PayU is a relatively new entrant in the market, it is already being used by the biggies in the ecommerce space, like Jabong, SnapDeal, BookMyShow and Ferns and Petals.
PayU also boasts of the highest conversion rates for online transactions - typically 12% higher than its competitors. Providing some of the best payment technology, like auto-retry and recommendation for failed transactions, you can also check out detailed analytics of all transactions.
Q: What do you mean by free PayU payment gateway?
A: There are 3 kinds of charges that are levied when you go in for a new payment gateway A/C, namely:
Set-Up fee: The set-up fee is a one-time non-refundable fee that is paid to the payment gateway provider, to open your PG account.
Transaction Discount Rate % (TDR%): It is the processing charges you pay to the PG provider, per transaction. They deduct this amount from every transaction and pass on the rest of it to you.
Suppose a customer pays you Rs. 100 for a product. When your TDR is 6%, they would deduct Rs. 6. And deposit Rs. 94 in your bank A/C.
This TDR is always borne by you, irrespective of which payment gateway you choose.
Annual Maintenance Charges (AMC): AMC is the maintenance charge for your payment gateway A/C, which is collected once a year.
An important point to remember is that service tax is applicable on both TDR & AMC.
When we say a FREE PayU gateway, this is what we mean.
|Different Costs||PayU Payment Gateway|
|Set-Up Fee||25,000 0|
We completely waive off your PayU PG set-up fee as well as the AMC. And your TDR% is brought down to just 3% per transaction.
If you’d like to go in for a plan that offers you a lower TDR% still, the same is possible. The following are the details of a PayU payment gateway at just 2.5% TDR.
|Different Costs||PayU Payment Gateway|
|TDR%||Debit Card - 1.25%
Credit Card - 2.5%
Net Banking - 2.5%
|Set-Up Fee||25,000 10,000|
Q: What are the payment options available with the PayU payment gateway?
A: All possible payment options are available with PayU including accepting payments by Credit and Debit Cards and Net banking options.
|Payment Options||Available Options|
|Credit Cards||Master Card and Visa|
|Debit Cards||All Debit Cards|
|Net Banking Options||23 Banks|
PayU supports 23 banks in total, which are listed below. These banks cover 95% of all internet transactions in India. And PayU adds new banks every week to its list.
- Axis Bank
- Bank of India
- Bank of Maharashtra
- Citi Bank
- Corporation Bank
- DCB Bank
- Federal Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- India Overseas Bank
- IndusInd Bank
- J&K Bank
- Karnataka Bank
- South Indian Bank
- State Bank of Bikaner and Jaipur
- State Bank of India
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Travancore
- Union Bank of India
- United Bank
- Yes Bank
Q: What is the process of signing up for a PG A/C with PayU?
A: To sign up for a Payment Gateway A/C with PayU or any other PG provider in India, 2 main things are needed from your end.
- Your brand should be a registered entity (sole proprietorship, Pvt. Ltd. Public Ltd., Limited Liability or anything else), and
- A Current Bank A/C
The other documents that will be needed are your generic documents like your PAN Card, electricity bill, etc.
So once you have all this in place, you are all set to get yourself a FREE PayU payment gateway for your Zepo stores, where your Set-Up Fee and AMC are completely waived off. And all you need to pay as TDR is 3% on every transaction.
Q: How long does it take for all payment options to start working?
A: Once you submit all the required documents, the payment gateway will take 20-25 working days to activate all payment options.
Initially some of the net-banking options are activated on your payment gateway. Unlike other payment gateways, PayU activates Mastercard and Visa together.
So, in all it takes them 20-25 working days to complete the activation of all payment options entirely.
PS. If for the meanwhile, you would like an immediate solution, check out PayU Paisa. You can start accepting online payments in 48 hours. And continue using it till all payment options are activated on your payment gateway and even after.
Q: What name will appear in the bank/CC statement of the client when s/he makes a purchase on our site?
A: In all cases, whether you take a free payment gateway from us, or get your own, it would be your business name that would appear on the bank statement.
As mentioned earlier, the payment gateway that we give to you for free, is actually registered in your business name and so it belongs to you.
And therefore, on all credit card statements and also on the payment page, it would be your business name that would appear.
PS. We do offer other free payment gateways too. You can follow this link, to check them out.