PayKun Payment Solutions- 10 Products expected to launch in 2021

Founded in 2018, PayKun Payment Solutions – named among the best payment gateway for website and mobile application (or none), has come a long way just in 2 years. It is trusted by numerous merchants of all types for processing business payments and has been successfully processing a huge number of online transactions providing a more than satisfactory transaction success rate.

Indian merchants can currently accept seamless online payments from domestic and international customers with PCI DSS compliant PayKun. They can provide 120+ payment method options and a Card EMI option so that their customers can pay securely with their preferred payment mode on the website, app, or through PayKun payment links.

With the new online businesses emerging and the already developed ones looking for a better solution, they would want their payment partner to be the best payment gateway for websites, apps, or even for the online payments of the offline businesses.

The judgment of the best payment gateway would mostly include aspects such as transaction rates, security, reputation, reliability, customer support, reachability, payment methods, etc. PayKun has proven itself as the best payment gateway in all these aspects.

While looking for the best payment gateway and the payment product for your business needs, PayKun is recommended. It offers the lowest domestic transaction rates and affordable international fees. There is no extra fee of any kind such as the setup or maintenance charge.

As per the reports on the Indian Ecommerce Industry Analysis by the India Brand Equity Foundation (IBEF) (An initiative of the Ministry of Commerce & Industry, Government of India), it has been expected that by 2026 the E-commerce market of India would grow to US$ 200 billion from US$ 38.5 billion as of 2017. Online shoppers in India in 2018 reached 120 million and by 2025 it is forecasted to reach 220 million. 

If we look at the figures for digital payments. As per the report from Redseer, mobile payments shall grow 5 times by 2025. COVID 19 has a tremendous effect on how people make payments. Therefore, by 2022 the digital payments are expected to grow 2 times and reach $60 Trillion.

“In alignment with the increasing penetration of digital payments, PayKun has been working on adding various products and services in its realm so that the merchants can fulfill their business payment needs under one roof by getting the customized payments solution with a personalized approach from our side,” said Deepak Dabhi, CEO and co-founder of PayKun.

Upcoming PayKun Products

The year 2021 has got a lot up the sleeves for PayKun. The upcoming developments that the best Payment gateway of India will have to offer as below:

#1 Payouts

PayKun Payouts would enable the merchant to pay to various third parties for his business purposes. It would also make it possible for them to issue instant refunds.

As part of Payouts, there are the Collect Links; which would enable to pay the third parties without their beneficiary details. 

The purposes of the Payouts could be cash backs, rewards, game winnings, disbursing loans, etc.

#2 Auto Collect

This PayKun product will enable the merchant to keep the track of every customer payment. For this purpose, a virtual account for all the customers could be opened and each payment can be tracked and managed easily. 

Further, it would make the reconciliation process and settlements of these payments convenient. The APIs would be specially developed for every function.

#3 PayKun QR (Offline)

With this, an individual QR code can be generated for the business to enable the customers to scan and pay with no hassle. Thus, no additional device would be required such as a POS machine.

#4 PayKun Mobile Apps

The mobile apps of the PayKun would be introduced soon for Android and iOS.

#5 PayKun Education

This product would make it easy for the educational institutes to collect the payments for fees, donations, etc from students, parents, and other parties. 

Various payment method options are provided to the payer such as cards, wallets, net banking, UPI, and QR code. 

#6 Instant Refunds 

The merchant can issue instant refunds to their customers through the PayKun Payouts. With the beneficiary bank details of that customer, they can issue instant refunds of the transactions processed through PayKun from their Payout Dashboard.

#7 Quick Settlements

The merchants can avail the settlements instantly. Currently, they can get the settlements in t + 2 or 3 working days (t is the transaction date). 

However, with this new feature, the merchants can claim instant settlements. 

#8 PayKun Invoice (GST Compliant invoice)

With this feature, the merchant can share a GST compliant Invoice with the customer. This invoice will include the details with the required price breakup. 

Other details such as the name of the ordered products or services, quantity, billing cycle, receipt number, and customer information will also be included.

#9 Payment Page

If the merchant does not have a website they can create a Payment Page with PayKun. They may include Product Details, Price, Contact Details, Terms and Conditions, Checkout, etc on that page

#10 Split Payment options

This feature is for the merchant who needs to collect the payment in his different accounts. For example:

  • A merchant having branch accounts in different cities.
  • Educational institute having different departments
  • eCommerce or Marketplace with various seller and sub-merchants
  • Real Estate for the disbursals of maintenance, utility, deposits, or any other payments for different housing societies.

PayKun is on its journey to becoming a full-fledged package for the business payment solution and as the best payment gateway service provider too. 

Its team has been working hard on the mission i.e. to empower business enterprises of all sizes and reach out to all segments with a simple, hassle-free, and affordable online payment solution with fast and easy access to all its services, features, and processes.