Payumoney

PayUMoney is an e-wallet or a payments application that has been set in the year 2002 and has been of huge importance for the Digital India vision of the Government. PayUMoney has global reach and can be used for numerous transactions like transfer of funds to another PayUMoney account or to the bank account of the customer. Since it can be used by unregistered businesses and small as well as micro businesses, this application can be used to reach the masses of the country and to the remotest parts of the nation where the concept of e-wallet may still be new.

How to register for PayUMoney?

Customers have to register with the PayUMoney application to enjoy the benefits of seamless payments and hassle free transfers along with many other benefits offered by the application. The detailed registration process for the same has been mentioned below.

• First step is to download the application from the Google Playstore or Apple Store.
• After downloading, the customer will have to register for the same by providing the email id as well as mobile number and the basic details like the name, address etc.
• The customer will receive an OTP on the mobile number provided that has to be submitted to authenticate the registration process.
• After this the registration process will be completed and the customer can login to the account by clicking on the activation button.

In case of registration to be done by the businesses for using the PayUMoney application, such business entities have to provide the details of their company name as well as personal details. The businesses can then use the PayUMoney application to receive payments through the online mode or the point of sale mode as well as to transfer funds to their bank accounts and more.

Salient Features of the PayUMoney App

PayUMoney is like any other e-wallet that can be used to make payments in a very secure mode as well as receive funds along with many other benefits that can be received by the customers like the benefit of recharging their mobile plans, using the application for travel bookings or movie bookings, get attractive offers and more. The various features of PayUMoney application are mentioned hereunder.

For customers

The various features of PayUMoney available for the customers are mentioned hereunder.

• Customers can make immediate payments to the merchants at the point of sale or through online modes. The payments made by the customers are first held by the PayUMoney application in the secure mode and will be cleared or transferred to the destination after confirmation from the customer. This ensures the safety of the funds of the customer and protects the customer from any potential fraud or theft of funds.
• PayUMoney provides the benefit of transfer of funds held in the wallet of the application to the bank account of the customers as well. This ensures that the funds held are not misused and the funds are also not stuck in the wallet.
• Customers also get many discount offers and attractive instant cashback offers ranging from 2% to 10% for the transactions or payments made through PayUMoney application.
• PayUMoney application has global acceptance which ensures that the customer can use this wallet not only in India but also abroad and can travel cashless without any fear of theft or loss of funds.
• PayUMoney also provides many other options like travel bookings, movie bookings, recharges, bill payments and more.
• Since the PayUMoney application can be used by the unregistered business owners as well, the customers get the benefit of many options other than the most popular and readily available options available on competing websites.
• The ‘superfast checkout’ mode of the application enables the customers to safely store their credit card information on the application to use the same for making various payments and transferring funds instantly. The card information can be password protected which ensures that the information of the customer cannot be misused and the customer cannot be charged for payments or transactions without their consent.
• Customers can get the option to make payments through their preferred mode of payment i.e., either through debit cards, credit cards or net banking or can also set their preferred option as the default payment mode.
• PayUMoney also has many payment options that the customers can choose from like net banking, UPI payment option, E- wallet option, EMI option for card/ cardless option as well as buy now and pay later option like Ola Postpaid and LazyPay.
• PayUMoney provides customer support throughout the year and is available 24x7 for the benefit of the customers to assist them in any of their queries.
• Customers do not have to provide any documentation to set up the initial account thus making it an absolutely hassle free process.

For merchants

Merchants get many benefits of registering with the PayUMoney application and using the same to receive payments from customers.

The various benefits enjoyed by merchants through PayUMoney application are mentioned below.

• Merchants can enjoy hassle free registration on PayUMoney application at zero cost
• PayUMoney can be used by unregistered businesses like small startups as well as micro and small businesses at nil costs. This ensures security of payments at both ends of the transaction at the same time giving such businesses the chance to participate in the digital economy vision of the Government of India.
• Such small merchants get the maximum exposure through PayUMoney application and can get their business promoted as well at almost no additional cost of marketing or advertising that they may have to otherwise incur.

Steps to make Payment using PayUMoney

The process to make payments using PayUMoney is very simple and quick. The details of the same are mentioned below.

• Select the product or service to be purchased
• Pay using the PayUMoney application either through the debit card or credit card or through net banking
• The customer will require to submit the OTP to authenticate the transaction
• After the transaction is completed, the customer will receive an email confirming the same and providing details of the transaction.

How to load or add money to the PayUMoney wallet?

Customers can add funds to the PayUMoney wallet and enjoy unlimited benefits offered by the application. There are many modes to add funds to the wallet of the application i.e., through net banking or through credit or debit card. The details for the same are mentioned below.

Debit Card or Credit Card

• The process to add funds through debit card or credit card of the customer is very simple.
• The customer has to provide the details of the respective card through which the funds have to be added.
• These details include the card number, name on the card, expiry date and the CVV number on the back of the card.
• After submitting all the required details, the amount to be added has to be mentioned.
• The funds will be added to the wallet post completing the process after confirming the details as well as the amount to be added.
• The customer can also save the details of the card added to ensure faster addition of funds in future.

Net Banking

The net banking option is another convenient option to add the funds to the wallet of the customer. The details of the same are mentioned below.

• First step is to click on the net banking option available on the application.
• Customer will then have to select the name of the bank from the drop down menu
• After selecting the required bank, the next step is to enter the amount details and the payee details
• Post verification of the details entered, the customer will have to select on ‘Pay Now’ option
• The customer will then have to login to the net banking account using the user id and password available and finally click on ‘submit’.
• This will complete the process of making payment through net banking.
• Customers will receive the confirmation of the payment made via email along with the transaction details of the same.

How to transfer PayUMoney back to the bank account of the customer?

PayUMoney provides the customers the benefit of transferring the unused or idle money in the wallet back to their respective bank accounts. This feature ensures that the customer does not lose the money in the wallet and it is not misused or lost. The time taken for such transfer is a period of 7 days from making the request of transfer. The PayUMoney application charges a fee for such transfers. The fee charged is to the extent of 2.5% of the transfer amount. However, there are no charges on the amount transferred to the bank account if such transfer is of the refund amount received.

FAQs on PayUMoney