PayU, has introduced the EFT payment option, allowing merchants to offer a wider variety of payment options for their customers.
With the help of EFT, merchants will be able to reach customers who browse online, but lack access or are hesitant to opt for digital payments. This payment solution caters to organizations that are in need of fast and seamless solutions for high-value transactions but are unwilling to transact online.
The new service from PayU will help merchants who would like to make work in Tier-2 and Tier-3 cities and towns, where customers’ preferred mode of payment transactions is through banks.
Commenting on the new offering, Alim Khan, Senior Vice-President of Compulsive Businesses, PayU India, said “There is a large segment of the population who are comfortable browsing online but are reluctant while making online payments, and several organizations which don’t authorize their employees to initiate payments digitally. We are consistently working towards building innovative solutions that not only enhance our merchants’ experience but also help them grow their business. Through this solution, we have enabled merchants to reach out to customers and corporations who require semi-online solutions for payments. We expect this will have great application in the education, government payments and utility sectors. It is one step closer towards building an economy where the populace is less dependent on physical cash.”
