Zoho To Launch Consumer Payments App 'Zoho Pay': Check Features, Pricing, And More

Zoho is gearing up to enter the digital payments market with its new UPI app, Zoho Pay. The standalone app will also be embedded within its chat platform Arattai and will compete with players like Google Pay and PhonePe.

Zoho Pay is currently in internal testing and is slated for a phased rollout across India over the coming months.

Here are some features of Zoho Pay as per their website:

• Flexible payment options: Zoho Pay provides your customers their preferred payment options — UPI, Cards, Banking Connect, and more. Collect recurring payments through UPI.

• Multi-channel options: Whether through invoice emails, payment links, dedicated payment pages, or the client portal, you can provide flexible ways to meet the unique needs of each client.

• Uncomplicate disputes: Stay on top of chargebacks and disputes with our payment solution. You can track disputes, respond to them, submit evidence, and check their status all in one place.

• Quicker settlements: Get your payments settled — single or split — quicker, without paying any extra fees. Maintain your cash flow, and keep your business moving, faster.

• Robust security and fraud management: All transactions through Zoho Payments are protected with in-built advanced fraud prevention features.

• Customisable reports: Gain access to customisable reports on payment transactions, refunds, payment failures, and detailed account summaries.

• One-stop payment solution: Manage all your payment operations from one platform, from payment acceptance to disputes and chargebacks.

• Built natively for your business apps: Unlock the synergy of Zoho Payments within the Zoho ecosystem. Effortlessly collect payments directly from your business apps.

• Easy integration with your website: Integrate your website with Zoho Payments through API's in a simple way!

The platform fees for UPI are 0.5% while cards, netbanking, RuPay will attract 2% platform fees. If it is a bank transfer, the platform fees will be charged either 1% or Rs 10 whichever is lower.

A platform fee of 2.75% is applicable on corporate credit card-related transactions. It should be noted that Zoho Payments deducts the platform fees from each transaction before depositing your earnings into your bank account.

Zoho Pay security is ensured through strong technical measures and compliance with industry standards, including PCI DSS Level 1 compliance and ISO 27001:2022 certification.

The data is protected with TLS 1.2/1.3 encryption during transit and AES-256 encryption while at rest. Additionally, Zoho Payments uses a logging and monitoring system and employs intrusion detection and prevention systems to safeguard its infrastructure.