PayUPaisa launches ‘Release on Delivery’ Payment option

21st November 2013 | By Mouseworld Now Correspondent |

PayUPaisa-Release-on-DeliveryNew Delhi, India, November 21, 2013: PayUPaisa, online payment company, has launched ‘Release on Delivery’ payment option in India. Release on delivery (RoD) is a win-win solution for both online shoppers and merchants. To a buyer it provides the same trust as CoD. While for a merchant, it’s prepaid medium to accept online payments and reduces the expenses done via CoD by almost 4 times.

RoD reduces the cost incurred through CoD by almost 4 times. RoD is prepaid mode of payment. i.e. a merchant get paid via credit/debit card or Netbanking instantly. In this case payment gateway charges are applicable to a merchant which is between 2% to 2.5%.

When a buyer decides to purchase a product on merchant’s website and is redirected to the payments page, he’s shown multiple payment options like credit card, debit card, Netbanking or CoD to choose from. On selecting CoD, RoD payment option is also offered to him. Buyer can select RoD payment method and pay through Credit card, Debit card or Netbanking. In turn, RoD method promises to keep buyer’s money totally safe though various safety check points and PayUPaisa’s strong dispute resolution mechanism.

Safety Checkpoint 1: Buyer’s money is kept safely with PayUPaisa and is not released to the merchant in first go.

Safety Checkpoint 2: When buyer explicitly informs PayUPaisa to release the payments, only then the money is transferred to the merchant. In case if PayUPaisa doesn’t receive any confirmation from the buyer in 3 days after the product delivery, the payments are released to the merchant by default.

Safety Checkpoint 3: In an unlikely case, where a buyer faces a problem with the delivered product, he can raise a quick dispute with PayUPaisa’s dispute resolution team. This team will resolve the dispute in an unbiased way so that the buyer does not face any financial loss. The dispute needs to be resolved in maximum 12 working days and PayUPaisa refunds back the money to the buyer if the dispute is found to be genuine.

PayU India’s Co-founder & CEO Nitin Gupta said “The largest pet supplier e-commerce merchant in India, Dogspot.com, went live with this and without any promotion, 7% of all CoD transactions shifted to RoD. Large merchants like Tradus, The mobile store etc. are eager to go live on this payment option. We expect that in 9-12 months time, 20% of all CoD transactions will become Release on Delivery transactions.”

Buyer Benefits through Release on Delivery Payment Method

  • Buyer has more control. Buyer gets to release money till after 3 days of receiving the product.
  • In case of mismatched expectations, buyers can raise a dispute with PayUPaisa’s dispute resolution team which aims to resolve the dispute amicably between buyer and seller.
  • Buyer gets faster refunds. The refunds get debited into buyer’s credit card or bank account within two days.
  • Buyer can store card details (using PayU’s store card feature) and do 1-click checkout next time.

 

© Mouseworld Now News Service

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