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Online payment solutions provider, PayU has launched a multi-functional mobile app for merchants designed to conveniently track their businesses on the move, where merchants can use the PayU mobile app to monitor their business performance and request for payments.
According to PayU frictionless merchant service is at the core of its business priorities and it aims to simplify business for the small and medium merchants and augment the ease of business for 63 million MSMEs in the country.
Referring to a recent Mckinsey report, PayU points out that India is expected to see a 40% growth in internet users to 800 million and double the number of smartphone users, reaching 700 million by 2023. At the same time, an Assocham-PWC India study was cited indicating that digital payments in India are anticipated to more than double to $135.2 billion in 2023 from the current $64.8 billion.
Therefore, PayU says that the need for a holistic mobile app that caters to India’s mobile-first market becomes imperative. Proof to this is the assessment carried out by PayU on its merchant base, which revealed that 74% merchants expressed the need for a mobile platform to monitor and operate their business.
The PayU mobile app enables merchants with complete account access, allowing them to manage their business on-the-go and get real-time updates. A simple user-interface delivers rich capabilities to view and track transactions through a new dashboard, giving merchants’ quick access to the most important business data. Besides allowing merchants to conduct a request for payments with a few taps, the PayU mobile app also provides a detailed reporting dashboard that helps merchants analyze business performance and track revenue inflow & issue refunds. The app helps merchants create their digital identity through a personalized website to collect payments. The app is also integrated with PayU Assist for instant hassle-free query resolution and support.
Commenting on the launch of the app, Noopur Chaturvedi, Country Head – Small & Medium Businesses said that the company's goal is to empower MSMEs with a mobile channel equipped with complete account access and business management capabilities. Chaturvedi said that the app will also provide instant query resolution to offer a seamless merchant experience.