PayU, Indian online payment solutions provider, has announced integration with Zoho Books, the GST-compliant accounting solution from Zoho, which is recognized by the Government of India as the Best App in the Business category, to deliver a seamless payment experience to merchants and increase business efficiencies. PayU’s industry-leading technology and solutions will allow merchants to reconcile payments within Zoho Books and access a full-scale payment infrastructure.
The extension will offer Zoho Books’ customers a way to connect and set up PayU solutions within Zoho Books’ existing platform. Businesses can simply send invoices with payment links or share invoice links with their customers. Once the payment is made, the status of the corresponding invoice will be automatically updated as ‘Paid’ on the Zoho platform. This simplifies and streamlines the payment collection process. The reconciliation of transactions with PayU’s tech-enabled invoices will help merchants to manage their cash flow intelligently, monitor payments made within Zoho Books itself, channelize their resources effectively, and scale up faster.
End-to-end reconciliation of payments within Zoho Books not only improves overall merchant experience but also helps them collect payments owed to their businesses in a shorter timeframe. The integration is expected to increase efficiency and deliver a better user experience by reducing the time taken to process a transaction.
Commenting on the partnership, Noopur Chaturvedi, Country Head – Emerging Businesses, PayU India, said, “PayU’s vision is to unlock growth opportunities for all businesses and help them prosper in an increasingly digitized world. We are working towards this by building payment solutions, as well as partnering with organizations who share this vision. We are happy to partner with Zoho Books and bring the benefits of a frictionless payment infrastructure to the merchants”.
“With digital disruption forcing several small businesses to go online to stay afloat, businesses are having to take their accounting and management of finances online too,” said Anand Nergunam, VP Revenue Growth at Zoho.
“Zoho Books was built to give merchants complete visibility into their finances and help them monitor the flow of money in and out of their businesses. Our partnership with PayU not only helps businesses with payment collection and reconciliation, but also provides the flexibility of letting their customers choose how they want to pay. This combined with Zoho Books’ comprehensive, real-time financial reports, helps improve cash flow, and allows businesses to make smarter business decisions.”
The PayU integration is available for users of the Indian edition of Zoho Books. This integration is available in Premium, Elite, and Ultimate pricing plans only. Users can get the extension for free on Zoho Marketplace.
PayU India
PayU is regulated under the Reserve Bank of India and has advanced solutions to meet the digital payment needs of the Indian market. It provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology. In India, PayU serves more than 450,000 merchants with 100+ local payment methods and is the preferred payments partner for nearly 60% of the e-commerce merchants, including all leading e-commerce companies and a majority of airline businesses.
PayU also developed LazyPay in 2017, an alternate lending platform to offer credit solutions such as Small Ticket Credit (Buy Now Pay Later), App-based loans (Instant personal loans) and Point of Sale Credit (Merchant EMI). LazyPay Buy Now Pay Later is currently live on 100+ merchants such as Byju’s, Swiggy, Flipkart, Makemytrip, Dunzo, Vodafone, Zomato, Bookmyshow, Oyo, Tata Sky and many more.
Zoho
With 45+ apps in nearly every major business category, including sales, marketing, customer support, accounting and back office operations, and an array of productivity and collaboration tools, Zoho Corporation is one of the world’s most prolific software companies. Zoho is privately held and profitable with more than 9,000 employees.
Headquartered in Austin, Texas with international headquarters in Chennai, India, the company has additional offices in the United States, India, Japan, China, Singapore, Mexico, Australia, the Netherlands, and the United Arab Emirates. Zoho respects user privacy and does not have an ad-revenue model in any part of its business, including its free products. More than 60 million users around the world, across hundreds of thousands of companies, rely on Zoho every day to run their businesses, including Zoho itself.
