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PayUPaisa Launches Payment Solutions For Marketplaces & Aggregators

PayU India's online payment solution PayUPaisa has launched an automated all-in-one-payment solution targeting e-commerce marketplaces and aggregators that operate in different segments like travel, real estate and collect fees or payments. Presently, furniture e-retailer Urban Ladder is using this service. How does it work? The company says that when a buyer purchases products from different sellers operating in a marketplace, a single order ID is supposedly generated for the buyer. PayUPaisa's new service will apparently collect the payment for the marketplace using this single order ID level and makes  settlements to the marketplace along with its commission and to the different sellers based on sub order IDs of each seller. The settlement is supposed to be made with T+2 days as prescribed by the RBI where T could be the date of transaction, shipment date of order, delivery of order or…

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