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.
Talking 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.”