Entrepreneur

PayU boosts Shopmatic’s ‘Inspiring Entrepreneurship Programme’, waives TDR on merchant transactions

PayU boosts Shopmatic’s ‘Inspiring Entrepreneurship Programme’, waives TDR on merchant transactions

PayU bolsters the Inspiring Entrepreneurship Programme by waiving TDR of up to INR 1 lakh on transactions for merchants who sign up between 1st to 31st August 2021.

Mumbai, 15th August 2021: International e-commerce enabler Shopmatic has been encouraging more entrepreneurs and SMBs to go online through its “Inspiring Entrepreneurship Programme. Shopmatic is offering zero hosting charges to anyone signing up between 3rd June and 31st August 2021. 

In the last month of its Inspiring Entrepreneurship Programme, PayU – India’s leading online payment solutions provider and Shopmatic’s payment partner – will offer zero TDR charges up to INR 1 lakh on merchant transactions, to all entrepreneurs signing up in August 2021.  This step will further encourage aspiring entrepreneurs and small business owners to take their business online, especially during these tough times. 

During the 90 day period, business owners will not only be able to access Shopmatic’s features while paying only 3% on every successful transaction but will be able to forego TDR deductions paid to the PayU payment gateway, to directly add more to their overall margins. 

PayU and Shopmatic joined hands in 2019 to enable Shopmatic merchants to accept payments from customers seamlessly, from multiple channels, devices, and modes, on a single platform. Now, PayU is actively contributing to Shopmatic’s overarching goal to encourage entrepreneurs to enter the e-commerce ecosystem. 
Speaking on the initiative, Anurag Avula, CEO & Co-Founder, Shopmatic, said, “Since the start of our partnership, PayU has played a key role in helping Shopmatic enhance the payment experience for its merchants. By waiving the TDR up to INR 1 lakh for merchants, they have joined us to help businesses through this period of economic uncertainty. I would encourage as many entrepreneurs and businesses to go online and maximise their business by going online.”

Mohit Gopal, Senior Vice President, PayU India, said “Digitising business operations has become a necessity in a post-pandemic world and we are excited to work with Shopmatic to support entrepreneurs in their offline to online journey. The initiative also complements PayU’s broader vision of helping small businesses digitise their operations through a comprehensive suite of easy to integrate solutions.”

Through the ‘Inspiring Entrepreneurship Programme’, Shopmatic is extending its platform to a larger group of aspiring entrepreneurs during a challenging time. The platform has been leaving no stone unturned in fulfilling the desire of its customers to succeed in the online ecosystem.  Having already onboarded 1 million customers, Shopmatic is on an ambitious drive to get 5 million customers to go online in the next 3 years.

About Shopmatic

Founded in December 2014, Shopmatic has been driving game-changing strategies in the ecommerce space and has engineered itself to stay focused on helping its customers succeed.

With its acquisitions of CombineSell and Octopus in 2019, Shopmatic is driving an omnichannel play for individual entrepreneurs and businesses in emerging markets, by enabling the entire ecommerce-&-retail-management ecosystems for them to succeed. 

From a domain name to easy integrations with domestic and international payment gateways and shipping partners, to getting discovered via a unique, curated platform- Shopmatic World & multiple marketplaces, to POS, Inventory Management and CRM solutions, Shopmatic helps business owners manage the full spectrum of what is required to grow their business.

Shopmatic has 1 million customers and is headquartered in Singapore with a presence in India, Hong Kong, China, Malaysia, Philippines and United Arab Emirates. The company is quickly expanding to the rest of South-East Asia.

Shopmatic has raised over 20M SGD from its incorporation till date with August One, SEEDS Capital and a consortium of investors.

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