The app is meant to “simplify business for the small and medium merchants and augment the ease of business for 63 million [micro, small and medium enterprises] MSMEs in the country,” the company said.
The mobile app will let merchants have complete access to accounts, and let them manage things at all times. The app provides updates in real time, as well as keeping an eye on performance and handling payment requests.
“At PayU, we consistently work towards developing innovative solutions using advanced technology to bring the best-in-class payments experience to our merchants. With this app, our goal is to empower MSMEs with a mobile channel equipped with complete account access and business management capabilities. The app will also provide instant query resolution to offer a seamless merchant experience. It is an exciting time for us since the PayU app is one of the most innovative app in this space. It strengthens our value proposition, giving us an edge above other industry players,” said Noopur Chaturvedi, country head – small and medium businesses.
The mobile app also provides reporting on a dashboard that PayU says allows for merchants to see a detailed performance and track revenue flows. It also allows for the issuing of refunds.
The app will allow for the sending of payments through WhatsApp, text or email to customers, and it will generate invoices, as well as create a website that’s personalized to the merchant to collect payments, allowing for digital identity.
The app will be available in the Apple App Store and Google Play Store.
In April, PayU acquired U.S.-based Wibmo for $70 million.
PayU Global Chief Financial Officer Aakash Moondhra said: “This is a strategic acquisition for PayU that combines our merchant network and Wibmo’s leadership in digital security.” He added that “PayU is very bullish on India as a market.”