Merchants can use the app to monitor their business performance and request for payments.
PayU has launched a multi-functional mobile app for merchants designed to conveniently track their businesses on the move. Merchants can use the app to monitor their business performance and request for payments. It aims to simplify business for the small and medium merchants and augment the ease of business for 63 million MSMEs in the country.
According to a recent Mckinsey report, 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 cites that digital payments in India are anticipated to more than double to $135.2 billion in 2023 from the current $64.8 billion. Therefore, the need for a holistic mobile app that caters to India’s mobile-first market becomes imperative. The assessment carried out by PayU on its merchant base, which revealed that 74% of 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. Besides allowing merchants to conduct a request for payments with a few taps, the app also provides a detailed reporting dashboard that helps merchants analyse business performance and track revenue inflow & issue refunds. It helps merchants create their digital identity through a personalised website to collect payments. The app is also integrated with PayU Assist for instant hassle-free query resolution and support.
Other features of the PayU app include access to rich transactional and business data, ability to send payment requests via WhatsApp/ SMS/ email to customers through itemized invoices, among others.
Noopur Chaturvedi, Country Head – Small & Medium Businesses, said in a statement, “With this app, our goal is to empower MSMEs with a mobile channel equipped with complete account access and business management capabilities. The app will also provide instant query resolution to offer a seamless merchant experience."