Accept payments for your business with the help of UPI Payment Gateway - PayU: How to make money with four-way payments in India

The Unified Payment Interface (UPI) is a real-time payment system that enables the instant transfer of funds through the use of a stable Internet connection on a mobile device. The system was developed by National Payments Corporation India (NPCI), an organisation that facilitates inter-bank transactions.UPI is rapidly replacing traditional time-consuming methods of monetary transactions. Similarly, UPI Payment Gateway is a third-party service that acts as an intermediary for businesses to receive payments.

Transferring money through UPI is very simple. You can initiate a transaction via the recipient's QR code or UPI VPA.The UPI VPA, also known as the UPI Virtual Payment Address, is the address from which transactions are made via UPI. Each person's UPI VPA is unique but can be customised. It can be treated as your email ID for UPI payments, for example, your Google Pay ID.

What is UPI Payment Gateway?

UPI is rapidly becoming the primary method of monetary transactions, especially for small and medium-sized businesses.A UPI payment gateway is a third-party service provider that acts as an intermediary for receiving and sending payments.UPI payment gateways can be integrated with UPI's online payment applications (e.g., Google Pay, PhonePe, etc.) to receive and send payments.

Ideal Payment Gateway - PayU

PayU Payment Gateway is helping all kinds of businesses grow and accept customer payments conveniently with unique payment solutions. In addition, accepting international payments couldn't be easier! With PayU Payment Gateway, you can accept payments in more than 100 foreign currencies. Here are the key benefits PayU offers its users:

No Transaction Limit: There is no limit to the number of transactions that can be made through UPI. Transaction Alerts: Receive instant notifications of every transaction via email and SMS. Mobile App UPI Integration: Provides a faster checkout experience for users using the mobile app or mobile web. Users can simply enter their UPI VPA, select the UPI app and complete the payment.UPI Payment Links: Businesses can easily generate UPI payment links to share with their customers. Customers can click on the link to make a payment. A window will pop up showing all the UPI online payment apps installed on the phone. Simply select the app to complete the transaction. Receiving payments has never been easier.UPI Auto-Debit: Designed for businesses with subscription plans, customers can now enable e-authorisation using any UPI app. With the UPI app, payments are automatically debited on a weekly, monthly or annual basis. Businesses can create plans and add users to start subscriptions. Share one-time authorisation links to users to confirm e-authorisation. Reconciliation with virtual UPI addresses: reconciling UPI payments can be a tedious task. This is especially common in situations such as loan repayments, tuition payments, etc., when the payee shares the UPI ID with the payer. However, this process can be made simple by generating a unique virtual ID for each payer or invoice. Users can make payments from any UPI application and each payment can be matched to a payer or invoice, thus automating manual reconciliation. Dynamic Universal QR Code: While UPI IDs are convenient, they are not the only way to make payments. Users can use the UPI Dynamic Universal QR Code and simply scan the QR code through any UPI payment app to complete the payment. The amount will be auto-filled and the customer simply executes the payment.

Regarding the distribution of payments?

As easy as collecting payments has become, so has distributing them.UPI simplifies distribution with the following features:

UPI ID Verification: If you want to verify the validity of your UPI ID, you can do so by transferring a small amount of money. This will help you to confirm that the UPI ID is valid and belongs to the person to whom you want to transfer the money. However, with PayU, by simply entering the UPI ID, you will know that the UPI ID is valid and is the registered name of the payee. Automated UPI Payment Distribution: Bulk transfers to other individuals and businesses can now be made in real-time. With an API or Excel file upload, you can make instant payments to multiple people at once.

reach a verdict

PayU Payment Gateway has been helping organisations to accept and distribute payments, including international payments, in the most convenient way possible. With the global level security of deep encryption protocols, payments are not only convenient but also secure. Integrate PayU Payment Gateway on different platforms and start collecting payments immediately.

Sign up for the PayU UPI payment gateway today and revolutionise your payment system!

Frequently Asked Questions

Q: What is UPI 2.0?

A: UPI 2.0 is an upgraded version of UPI introduced in 2018. It supports several new features such as an invoice approval mechanism, linking UPI accounts to customers' overdraft accounts, and a payment lockout option.

Q: How do I pay if I don't know my UPI ID?

A: You can make a payment even if you don't know the free UPI ID. You just need to generate a link and send it to the recipient. The payee can enter their bank details, UPI details or card details. Once completed, the payee will receive the payment.

Q: What is the maximum amount of funds that can be transferred through UPI?

A: Currently, funds transfer through UPI is capped at Rs 2 lakh per transaction.

Q: What integration options are available to merchants?

A: Merchants can easily integrate UPI through QR codes, apps, intents and UPI collection modes.