How PayU affordability suite can help businesses


Affordability is the current buzz word and deservedly so! All the projections painted a rosy picture, but the pandemic made it a necessity as customers became more cautious with money. For businesses already reeling with lower demand owing to the uncertainties, affordability solutions offered a glimmer of hope as customers became wary of high-ticket purchases.

However, offering your customers affordability solutions bring another set of challenges. Direct partnerships with lenders are tricky to say the least and might not be possible between each lender and merchant. There are umpteen operational processes to add to the technological challenges. More so, EMIs in general don’t have standardized technology and processes, making the process quite different for Lender A as compared to Lender B.

At PayU, we give you access to the lenders while keeping the tech and operational integrations to a minimum. We have partnership with leading lenders to give merchants access to 13 credit card EMIs, 5 debit card EMIs, and 2 card-less EMIs, and are continuing to add more lenders to give our merchants the maximum benefit of our affordability suite.

Card networks don’t support EMI as a payment option in their protocol. This might change in future given the growing demand for credit in India (and there is concerted effort at NPCI end for the same). However, the truth of the moment is that issuers have their own ways of supporting EMIs using their existing rails, making it a bespoke integration every time!

So, you have decided to offer your customers the benefit of EMI and other affordability options. Do seek the answer to the following questions before deciding on the approach.

Enabling affordability should be one of the top priorities for your business right now. Covid has led to far too many a disruption to sit on the fence and hope business would thrive. Enabling affordability options could help you acquire customers who may have dropped off because of the higher ticket size and his/her lower propensity to pay higher in current environment. All the evidence points towards affordability being one of the key drivers for buyers. With the new age products of card less credits, you can reach out to the customers in tier2/3 markets who have so far been credit underserved. With a partner like PayU, you can quickly enable these options and be confident of having one of the highest industry coverages with best success rates. So, what’s stopping you? Come, join us and be among the several hundred merchants already enjoying the benefits of PayU affordability products.