Wed, Dec 7, 2016 | updated 03:58 PM IST

PayUBiz hits total processed value of half billion dollars a month

Updated: Jul 28, 2016 13:00 IST

New Delhi, July 28 (ANI): Leading payment gateway aggregator PayUBiz hits a total processed value (TPV) of half a billion dollar per month. Catering to large enterprise merchants, PayUBiz currently has more than 10,000 merchants hailing from multiple industry verticals.

With its continuous focus on providing simplified user experience, convenience to merchants and advanced technology stack, the payment gateway aggregator has been able to achieve a revolutionary feat in the payment solutions industry.

"We have been continuously expanding our industry portfolio such as e-commerce, airlines, education, utilities, etc. which has also been fueled by our strong relationships with resellers and banks," said Business head PayUBiz, Rahul Kothari.

"Our ambitions go beyond this feat and intend to hit a billion dollar mark in processed value in the next one year. The growth will be organic and will also come from new lines of businesses - offline, payment products, risk solutions and global business," added Rahul.

PayU has pioneered several innovations in the payment industry, with the intent of providing enhanced customer experience. This includes, dynamic switching for routing transactions through the healthiest payment gateway for a high transaction success rate.

Furthermore, launching CVV-less transactions was a major technological breakthrough, giving users the security of not sharing their CVV, thereby easing the process of completing a transaction.

Magic retry and SurePay are other innovative offerings, ensuring successful payments by preventing all drops related to network issues, without the need to start the payment process from the scratch again.

One Tap, a trademark feature of PayU, is the first of its kind offering in the industry which created a buzz among the customers as well as merchants. As the name suggests, One Tap allows customers to make payments with a single tap on their device, after confirming the amount.

Lastly, PayU's consistent focus on the technology stack has been instrumental in allowing the payment gateway aggregator to cross the half billion dollars mark.

The technology stack is set to be the most advanced in the industry, hence extending a solid backbone to PayU's innovative offerings. The stack can be customized to offer personalized solutions to the enterprises, along with being extremely scalable, evolving as the enterprises transitions naturally. (ANI)