What is PayUMoney in India?

22 Jul 2024

“What is PayUMoney in India?", people who have an interest in the payment gateway industry in India are likely to have this question in mind. Since PayUMoney and PayU share the same company, they are actually two separate units. PayU is a payment gateway provider with its headquarters in Netherland, and PayUMoney is like a substitute brand of the PayU that is supposed to be in in India since 2013.

PayUMoney has a payment network across India, and its users in India can fully integrate payments and usage smoothly and coherently. Besides PayUMoney's successes in this market, India also has many other payment products with similar features and is trusted by many merchants with online websites. Some features that online sellers need in payment gateways when participating in the global transaction market will be introduced below.

Multi-language and multi-currency support so merchants can pay in their country's currency without having to go through conversion steps. This conversion step needs to be taken care of by the payment gateway and ensure this conversion is equal to the current exchange rate.

Modern payment gateways need to have multi-channel payment functions, the more payment channels the better, because today there are many types of credit cards, debit cards, online banking, e-wallets, and new payment methods such as Apple Pay, and Samsung Pay. Payment gateways need to ensure that all payment methods can be used to help customers have more opportunities to make online payments.

In addition, high security is also a criterion that any payment gateway needs to commit to its customers. One of the best international-approved security certifications that a payment gateway should have is PCI-DSS compliance, and PayCEC has already had it for securing their customers’ private data.

Currently, besides PayU, which can commit to the above criteria, there are many other payment gateways, including PayCEC, which ensures the above criteria for online sellers. Besides the high level of security equipped in its system, PayCEC also offers business partners fast 24-hour integration enabling businesses immediate customer support services, multiple payment methods for approaching a huge group of potential users, multi-currency real-time conversion features, and many more. You can integrate PayCEC today to start expanding your online store's payments.