PayUbiz Payment Gateway FREE with Zepo
*Note: PayUbiz was fomally known as PayU.
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 PayUbiz payment gateway when you sign up with Zepo.
You get this free payment gateway on all our pricing plans:
1. Basic Plan – both 6-month and 12-month subscription.
2. Starter Plan – both 6-month and 12-month subscription.
3. Pro Plan – both 6-month and 12-month subscription.
4. Unlimited Plan – both 6-month and 12-month subscription.
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 is a PayUbiz free payment gateway?
A: Although PayUbiz 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.
PayUbiz 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 PayUbiz 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 + 12.36%(of Rs. 6) = Rs. 6.74. Thus, Rs. 93.26 is deposited into your bank account.
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 Setup Fee, TDR and AMC.
When we say a FREE PayU gateway, this is what we mean. Depending on what pricing plan you go in for, the TDR changes accordingly.
In the Basic Plan,
|Free PayU Payment Gateway|
|Charges Levied||Basic Plan|
|Set-Up Fee||25,000 0|
|Credit Card/ NetBanking TDR||4%|
|Debit Card TDR||4%|
In the Starter Plan,
|Free PayU Payment Gateway|
|Charges Levied||Starter Plan|
|Set-Up Fee||25,000 0|
|Credit Card/ NetBanking TDR||3%|
|Debit Card TDR||1.25%|
* AMC is waived off for the first year only. It will be applicable from the 2nd year onwards.
We completely waive off your PayUbiz PG set-up fee as well as the AMC. And your TDR% is brought down considerably.
Q: What are the payment options available with the PayUbiz payment gateway?
A: All possible payment options are available with PayUbiz including accepting payments by Credit and Debit Cards and Net banking options.
|Payment Options||Available Options|
|Credit Cards||Master Card, VisaAmerican Express @3.25%|
|Debit Cards||All Debit Cards|
|Net Banking Options||41 Banks|
PayUbiz supports 41 banks in total, which are listed below. These banks cover 95% of all internet transactions in India. And PayUbiz adds new banks every week to its list.
- AXIS Bank NetBanking
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Catholic Syrian Bank
- Central Bank of India
- Citibank Netbanking
- City Union Bank
- Corporation Bank
- Dhanlaxmi Bank
- Deutsche Bank
- Development Credit Bank
- DCB Bank Corporate Netbanking
- Federal Bank
- HDFC Bank
- ICICI NetBanking
- Indian Bank
- Indian Overseas Bank
- IndusInd Bank
- Industrial Development Bank of India
- ING Vyasa Bank
- Jammu and Kashmir Bank
- Karnataka Bank Ltd
- Karur Vysya Bank
- Karur Vyasa Corporate Netbanking
- Kotak Mahindra Bank
- Punjab National Bank Retail Banking
- PNB Corporate Netbaking
- Saraswat Netbanking
- South Indian Bank
- State Bank of Bikaner and Jaipur
- State Bank of Hydrabad
- State Bank of India
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
- Union Bank of India
- Union Bank Corporate Netbanking
- United Bank of India
- Vijaya Bank
- Yes Bank
Q: What is the process of signing up for a PG A/C with PayUbiz?
A: To sign up for a Payment Gateway A/C with PayUbiz, 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 PayUbiz 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 documents are in order & website content has been verified and is good to go then within 10 working days services will be activated and details will be sent to registered e-mail id. In case of any pending bank nodal approvals settlements will happen post approval of account by the banks.
Initially some of the net-banking options are activated on your payment gateway. Unlike other payment gateways, PayUbiz activates Mastercard and Visa together.
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.
Note -Zepo offers a free payment gateway for Domestic Transactions.
Q. What if you don’t have registered company and current account?
A. PayUbiz Money- Get a payment gateway in your name & start collecting payments in your savings account. All you need is to submit few
documents & you will go live in 48 hours!
Are you an awesome entrepreneur looking forward to opening an online business? Look no further! Give Zepo a try and start your online store in the next 5 mins.