Pre-Authorized Payment: Fill & Download for Free

UNIFIED PAYMENT SERVICE or UPI ,is an advanced version of “Immediate payment system”, enabling users to transact amount up to 1,00,000 Rs(For KYC customers) and up to 10,000 (for non-KYC customers) instantly,24 x 7. It’s highly advantageous over the traditional money transfer system as it has :a)Lower transaction costs: Transaction costs are quite cheaper as compared to NEFT, IMPS or RTGS. UPI transaction charges are as low as 50 paisa/transaction.b)Flexible operations: Different accounts of an individual in different banks can be accessed and operated by a single UPI app.c) Safe and secure: UPI transactions take place via virtual IDs created by the user himself. Users don’t have to reveal their bank details to any stranger for transaction.d) Hassle-free transactions: UPI eliminates the need to create a beneficiary account for NEFT or RTGS transactions. Also, no bank details like IFSC code are required to transact.With the launch of UPI 2.0 in August, 2018, consumers have got wider reach and flexibility. The UPI 2.0 has following features:a) Linking Overdraft facility to UPI.b) Pre-authorize periodic payments.c) Verify merchants’ credential via QR code.d) Bio-metric authentication to further strengthen the security.Cheers :-)

I'm sorry!!!!! I know about it, but not in detail!!! So getting help from this site!!!PayU MoneyIntegrating payment gateways for e-commerce sites usually require a business to be a registered entity i.e. a sole proprietorship, a pvt. ltd., etc. But here is an option for you to sell online and start accepting online payments even without registering your business. How is that possible? Well, here’s the solution. PayU Money is essentially a payment gateway solution for individuals and the following is a review of the payment gateway.Q.How do I accept online payments if my business is not registered?A. PayU Money is necessarily a savings account payment gateway for individuals. You can start receiving payments on your online store, even if your business is not registered. The only pre-requisite is, you should have a Savings Bank A/C. If all your documents are in order, you can start accepting online payments on your store in just 48 hours. But usually the entire process takes up to 20-25 days to complete.Q. What is PayU Money?PayU MoneyA. PayU Money is a leading online payments solution company in India, which started operations in October 2011. And, since then it has grown into the fastest growing consumer payment processor in the online payment space. As of now, PayU Money boasts of having more than 1200 merchants on board.Q. What documents are required to integrate PayU Money on the online store?A. To integrate PayU Money on your online store, you only need to submit 3 documents, namely:Your Pan Card copy,KYC Document (Aadhar Card, Passport, Voter ID, Driver’s License), andBank Verification Letter or Cancelled Cheque of Savings Bank AccountQ. What are the different charges levied with PayU Money PG?A. There is absolutely no Setup fee or AMC levied with PayU Money. The only charge borne by you is the TDR% i.e. Transaction Discount Rate. Details of which are as follows:Different Charges PayU Money Payment GatewaySet-Up Fee 0AMC 0TDR% 2.9% + Service Tax (12.36% of TDR Value)Q. How do these charges translate per transaction?A. Given below are 2 examples to help you better understand the per transaction costs that will be borne by you.Case ATransaction Amount Rs. 100TDR% 2.9%Transaction cost Rs. 2.9Case BTransaction Amount Rs.200TDR% 2.9%Transaction cost Rs. 5.8Q. Is the above transaction cost, inclusive of service tax?A. No, the above costs are NOT INCLUSIVE of service tax.So when service tax, i.e. 12.36% is levied on the above numbers, the transaction costs are:Case ATransaction Cost Rs. 2.9Service Tax 12.36% = Rs. 0.35Total Transaction Cost Rs. 2.9 + 0.35 = Rs. 3.25Case BTransaction Cost Rs. 5.8Service Tax 12.36% = Rs. 0.71Total Transaction Cost Rs. 5.8 + 0.71 = Rs. 6.51Q. How long does it take the payment gateway to get activated?A. If all your documents are in order, PayU Money offers immediate activation of the payment gateway i.e. within 48 hours of the PayU Money receiving the papers. But usually, the entire process takes 15-20 working days to complete.Q. How does PayU Money work?A. So here’s how PayU Money processes the transactions on your store:Customer A buys the product from your store and makes a paymentPayU Money receives the payment on your behalf and sends you (the store owner) a notification about the sameAfter receiving the notification, you dispatch the product to customer ACustomer A receives the productsYou enter the Order Received details on your PayU Money Merchant PortalPayU Money sends a notification to Customer A to confirm order receivedPayU Money waits for customer to confirm delivery of the products for a period of 3 days. As soon as customer confirms, payment is transferred to your (the store owner’s) bank account. If customer doesn’t cofirm within the 3 days, PayU Money still transfers the payment to your account, at the end of 3 days.Q: Why does PayU Money release payment only after they receive a confirmation from the customer?A. In India, the payment gateway space is rather complicated; having a registered business and all makes it complicated. Two of the major pains of getting a payment gateway are:1. Loads of paperwork needed to get a registered payment gateway for your business2. High turnaround time after you have sent in your papers. It takes about 15-30 days to completely activate all payment options on your site.Hats off to PayU Money for having saved all of us from these trials. They are taking a big risk on your part, to accept payments online without much documentation.And that is why, by releasing a payment only after the customer acknowledges delivery of the product, they are making sure no fraudulent activities take place through their payment gateway.Q. How is PayU Money different from the other more conventional payment gateways?A. Like mentioned earlier, PayU Money is a payment gateway alternative for non-registered business i.e. individuals with nothing more than an individual savings A/C. Some of the other points of distinction are listed below:Conventional Payment Gateways PayU Money Payment GatewayRequires a company to be registered No company registration requiredNeeds a Current bank A/C in the name of the companyAll you need is an individual Savings bank A/CLoads of documents required to get an authorized payment gatewayJust a Savings bank A/C and a PAN Card required15-20 working days required to activate payment gateway If all documents are in order, PayU Money is activated on your store within 48 hours of the PayU Money receiving the papers.Store owner receives payment in T+2 daysPayment is received as soon as customer confirms deliveryQ: Is PayU Money trustworthy?A. We understand letting someone else handle your transactions is scary. But trust us when we say they are completely trustworthy. Otherwise we would have never have listed them, to begin with.Q: Whose name will appear on the credit card statement of the customer?A. The statement will record that a payment of so and so amount has been made to PayU Money. Which means that the transaction will be filed under PayU Money’s name.Q: Where can I see PayU Money live in action?A. Here are 3 of the Zepo online stores that are using PayU Money for their online transactions. You can place an order on any of these, to get a feel of it.1. Piccadilly Bags2. Head Line Hair Accessories3. Bat 4 ItWe at Zepo have integrated PayU Money for our online stores. So you are all ready set and go to get yourself the complete online store for your brand.Zepo + PayUMoneyAre you an individual with awesome products to sell? You can now start your online store without registering your business! GiveZepo a try and start your online store in the next 5 mins.Yes, I’d Like to Start My Own Online business now!!!Credits- www.zepo.in!!!

In order to provide a unique national identity card, the planning commission of India, under the leadership of “Mr Nandan Nilekani”, came forward with the idea of “Aadhaar Card”. It was earlier started as a Unique ID proof for the people living in the border areas but eventually it spread across India.Initially it aimed at:a) To eliminate fake/duplicate IDs.b) Save a considerable amount of both capital and human resource at various government departments.c) Hassle-free and time saving authentic verification system.As far as the Indian Banking Sector is concerned, ther’s been a significant amelioration as Aadhaar has :a) Increased KYC Compliance: Aadhaar id is a Bi-functional ID serving both as Identity and address proof. This has made opening of new bank accounts relatively easier.b) Aadhaar enable payment System(AePS): Aadhaar enable Payment system or Micro-Atms have helped in pushing the financial inclusion deeper into the society. With just a thumb impression, an individual can transact/withdraw/transfer money from their bank accounts. Also, it creates part time rural employment to Aadhaar agents.c) Promoted digital transactions: TheAadhaar -BHIM app, a UPI, has enabled quick-easy transactions among the merchants. Also, the pre-authorize-auto-payment feature of Aadhar-UPI allows settlements in real time.d) Making India a cash-less economy: The Aadhaar ID is on its way of transforming India from a cash driven economy to cash-less driven economy, thus, keeping money with the banks, which will palliate the stressed banking sector of India.It has also helped in removing corruption from public distributed system, appointment in health care centers, distribution of subsidies etc.However, there are a few challenges which the Aadhaar faces, some of them are:a) Network Connectivity: The rural areas of India, do not have high speed connectivity which creates unnecessary delay in operation.b) Data Safety: The Data safety is a major concerns as there were a few cases of Third party data leaks and fake aadhaar card scam in Kanpur, UP.if the above challenges are dealt, surely Aadhaar will boost the Indian economy.PS: Ayushman Bharat Yojna is “Aadhaar based” Scheme.