PayUPaisa launches “All-in-One” Payment Settlement Solution in India

In order to reduce the payment settlement headaches of marketplaces and online aggregators in the country, PayUPaisa has announced the launch of its new offering - "All-in-One" payment settlement solution.

Nitin Gupta, Co-Founder & CEO, PayU India, explained, Marketplaces and aggregators spend huge money on putting settlement and reconciliation systems in place and are yet unable to achieve efficiency and transparency. The reason is that while such players are expert in providing platforms for online selling and buying, it calls for a payment expert to solve issues related to payment processing, settlement and refunds. We, at PayU, become a perfect fit here and hence have rolled out an automated settlement and reconciliation solution considering the pain points of marketplaces.

He added, This solution has already been implemented by Urban Ladder, India’s leading furniture marketplace and we are confident that it will be more in demand post its official launch. With PayUPaisa’s ‘All-In-One’ Payment settlement solution, marketplaces can reduce the operational costs by 85% and add transparency into payment settlements.

We have recently associated with PayUPaisa to help process all customer- and seller-related transactions. With this association, we hope to be worry-free about these transactions and are confident that it will result in faster and accurate settlements. This can be a game changer in most marketplace models and will help build confidence amongst customers and sellers, said  Ashish Goel, CEO & Co-Founder, Urban Ladder.

This solution will address all the problems related to money settlement and help marketplaces achieve higher efficiency by providing better control over fund disbursements mechanisms.