- Capitalizing on Bharat Bill Payment System (BBPS): Access to multiple Apps like GPay, PhonePe, BajajPay, PayNearby, Amazon Pay, Airtel Payment Bank, CSC, Paytm, and various mobile banking apps that support BBPS.
- Enabling Rural India: Promotes cash-less economy in village areas.
- One Integration: Simple fetch and payment end point to integrate into the lending ecosystem. Pre-integrated with Craft Silicon’s Loan management solution.
- Reduced Cost: Per-transaction affordable pricing model.
- One Settlement: Consolidated settlement across multiple apps and Payment Gateway.
As highlighted by Siva Kumar, CEO, Craft Silicon Asia, “Craft Silicon’s association with PayU maximizes our customers’ collection reach and revenue assurance amid Covid-19 pandemic. This engagement will also help in reduction of cash handling and the operational cost attached with the same.”
Maneesh Goel, CFO, PayU India, said “We are pleased to associate with Craft Silicon and operate as the payment gateway of choice for their vast network of partners. One reason the small and micro credit institution sector is currently under stress is that these institutions typically lend to rural and semi-urban customers and debt collection is manual. Through this partnership, we can ensure more affordable and safer repayment options, in turn ensuring healthier cash flows for these institutions.”