PayU, one of India’s leading payment gateway is a fin-tech company that provides payment technology to online merchants. The company was founded in 2002 and is headquartered in Hoofddorp, Netherlands. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications.

Accepting payments through PayU on Shopmatic

When enabling PayU for your online store you are establishing a relationship directly with them and are subject to their terms & conditions. All transaction fees & charges quoted are generated by PayU and are payable directly to them. Any transactional and operational queries that happen on the PayU platform should be referred to PayU directly. Any queries about PayU on the Shopmatic platform will be resolved by your dedicated Shopmatic Ecommerce Consultant.

PayU rates for Shopmatic merchants:

Merchants who create a new PayU account through Shopmatic will enjoy these rates:
i)    Credit Card: 2.00% of the transactional value (3.00% of the transactional value for AMEX)
ii)   Debit Card (MasterCard & Visa): 1.15% of the transactional value for transactions above Rs. 2000/- and 0.65% of the transactional value for transactions below Rs. 2000, Debit Card (Rupay): 0.25% of the transactional value
iii)  Wallets: 1.85% of the transactional value
v)   Net Banking: 1.75% of the transactional value
vi)  UPI: 0.40% of the transactional value

How to enable PayU?

  1. 1. Login to your Shopmatic account, click on the top left corner button Dashboard, to access the main menu, click on Setup, and then on Payments.
  2. 2. From the Payments setup page, simply click on the Enable button.
  3. 3. Next, select if you are a new PayU user, or if you already have an existing PayU account.
  4. .
  5. 4. If you had selected the first option, congratulations, your webstore is now able to accept payments via PayU.
    If you chose the second option, where you are an existing PayU user, please skip to the next section “Enabling PayU for existing PayU users”.
  6. 5. Keep a lookout for the onboarding email that will come from the PayU team.
    Through Shopmatic’s integration, Option 1 has already been taken care of.
  7. You would only need to work on Option 2, which is to “Complete Profile” so that you can start transferring money from your PayU account, into your bank account.
  8. As can be seen in the onboarding email, there are various stages to complete your account:
    i. Account Created,
    ii. Complete Profile,
    iii. Bank Verified,
    iv. Profile Verification,
    v. Upload Documents,
    vi. Website Verification,
    vii. Settlements enabled to verified bank account
  9. .
  10. The 7 various stages of the PayU onboarding journey will also be reflected on your Shopmatic account. The “KYC Status” can be found on the same Payments Setup page.
  11. .
  12. The meaning of the various statuses explained:
  13. i. Account created, awaiting for verification: A PayU account has been created with email, mobile & merchant name. No other merchant profile details have been submitted yet.
  14. ii. Profile submitted: The merchant profile details like Address, Business Registration information, Bank details, etc. have been submitted by or on behalf of the merchant. But the bank account details are not verified yet.
  15. iii. Bank verified: The Bank account of the merchant has been verified either by using penny verification or other means, but the merchant has yet to start with the upload of the documents required by PayU.
  16. iv. Documents upload in progress: This status means that the merchant has started with the document upload process but is yet to complete the same.
  17. v. Documents verification in progress: This status implies that the merchant has successfully completed the upload of all documents required by PayU, but the verification by PayU is in progress.
  18. vi. Documents rejected: This status implies that the documents submitted by the merchants were incorrect and hence PayU has rejected the same. The merchant may re-upload the right documents on the merchant dashboard.
  19. vii. Website verification in progress: This is a generic status that implies that the merchant’s website details have not been successfully verified yet by PayU. There is no separate status available on the partner dashboard even if PayU has rejected the website details submitted, though detailed information is available to the merchant on the merchant dashboard. Please note that if the website verification is successfully completed by PayU before the documents are successfully verified then a reseller will not see this status.
  20. viii. Live: This means the merchant is successfully on-boarded to PayU and can receive settlements in his bank account.

Enabling PayU for existing PayU users

Existing customers of PayU will have to manually enable their account on the Shopmatic platform, this simple process would only take 5 minutes.

  1. 1. Login to your Shopmatic account, click on the top left corner button Dashboard, to access the main menu, click on Setup, and then on Payment.
  2. .
  3. 2. From the Payments setup page, simply click on the Enable button.
  4. .
  5. 3. Next, select the second option “I already have a PayU account”
  6. .
  7. 4. You would need to login to your existing PayU account, and simply copy-paste the security credentials to the current page of your Shopmatic account.
    i. Merchant Salt
    ii. Merchant Key
    iii. Merchant ID
  8. .
  9. You can follow these steps from the PayU support page on how to retrieve your PayU account credentials.
  10. .
  11. Once you have entered all three security credentials correctly, click on the “Save” button. Done! Your webstore is now ready to accept payments via PayU.

What payments can I accept once I have enabled PayU?

Credit card & Debit card options:

American Express Diners Discovery
MasterCard Rupay Visa

Net Banking options:

Airtel Payments Bank Allahabad NB Axis NB
Bank Of Baroda Bank Of India Bank Of Maharashtra
Bharat Co-Op Bank Canara Bank Catholic Syrian Bank
Central Bank of India Citibank Netbanking City Union Bank
Corporation Bank Cosmos Bank Dena Bank
Deutsche Bank Development Credit Bank Dhanlaxmi Bank
Indian Bank Indian Overseas Bank IndusInd Bank
Industrial Development Bank of India Jammu and Kashmir Bank Janata Sahakari Bank Pune
Karnataka Bank Karur Vysya – Corporate Netbanking Kotak Mahindra Bank
Lakshmi Vilas Bank – Corporate Netbanking Lakshmi Vilas Bank – Retail Netbanking Nainital Bank
Oriental Bank of Commerce Punjab And Maharashtra Co-operative Bank Limited Punjab And Sind Bank
Punjab National Bank – Corporate Banking Punjab National Bank – Retail Banking RBL
Saraswat bank SBI NB Shamrao Vithal Co-operative Bank Ltd
Syndicate Bank Tamilnad Mercantile Bank The Federal Bank
The Karur Vysya Bank The South Indian Bank UCO Bank
Union Bank – Corporate Netbanking Union Bank Of India United Bank of India
Vijaya Bank Yes Bank

Wallet options:

Airtel Money Amazon Pay Freecharge
Google Play ITZ Cash JIO MONEY
OLA Money Oxigen PayCash
PayTm Payzapp (HDFC) PhonePe
Yes Wallet

How does it look like for my Buyers?

From the checkout page of your webstore, this is what your buyers will see.

How long does it take for transactions to get settled?

Settlement of the transactions happens on T+2 basis

Who can I contact if I need help with my PayU account?

Please note that Shopmatic does not have access to your PayU account, and will not be able to directly help on any PayU transaction, should you require further assistance, please do contact the PayU Support team @ or drop them an email at

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