PayU introduces real-time monitoring solution for bank transactions

Online payments solutions provider PayU has introduced the QR enabled EFT payment option that enables businesses and customers to track the status of high value EFT payment transactions (Rs 5 lakh and above) in real-time. It ensures that customers and businesses don’t have to waste time and effort in chasing customer care centers of banks or merchants in a bid to understand the status of their payment or refund.

PayUTalking about the new feature Alim Khan, Senior Vice-President of Compulsive Businesses, PayU India, commented “When it comes to time-bound payments such as application fees or tender registration, it becomes particularly stressful to customers and businesses, as they don’t receive real-time updates about the status of their payments. This could become a major source of anxiety for customers especially where large sums and time-bound payment is involved. The new feature gives the exact status of their transaction and provides them a sense of control over their payment, reducing anxiety. We hope this encourages more customers and businesses to transact online.”

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