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Open.money VS PayU

Compare Open.money VS PayU and see what are their differences

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  3. » Reviews
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Open.money logo Open.money

Open is a connected banking platform for business payments that simplifies the process of sending, receiving, and reconciling payments for businesses.

PayU logo PayU

PayU is another online payment service provider that offers fast and simple payment processes for merchants and buyers.
  • Open.money Landing page
    Landing page //
    2023-09-18

Founded in 2017, OPEN is a business payments platform that empowers SMEs, startups and freelancers to manage everything from accounts payables, accounts receivables, to auto-reconciliation, accounting, expense management, compliance and payroll in one single platform. Today the platform powers more than 40 lakh SMEs and processes over USD 30 billion in annualized transactions. The platform also adds over 100,000 SMEs every month, making it the fastest-growing platform in this space globally.

In May 2022, OPEN raised its Series D round and became the 100th Unicorn from India. OPEN is backed by leading global investors like IIFL Finance, Temasek, Google, Visa, Tiger Global, Beenext, Recruit Strategic Partners, 3one4 Capital, Speedinvest, Tanglin Venture Partner Advisors, Angellist, Unicorn India Ventures, to name a few and has raised over USD190 million in funding to date.

  • PayU Landing page
    Landing page //
    2023-10-05

Open.money

Website
open.money
Pricing URL
Official Open.money Pricing
$ Details
freemium $81.52 / Annually
Platforms
Browser Android iOS
Release Date
2017 May
Startup details
Country
India
State
Karnataka
City
Bengaluru
Founder(s)
Ajeesh Achuthan
Employees
250 - 499
Edit details

PayU

Website
corporate.payu.com
Pricing URL
-
$ Details
-
Platforms
-
Release Date
-
Startup details
Country
Romania
City
Bucharest
Employees
100 - 249
Edit details

Open.money features and specs

  • User-Friendly Interface
    Open.money offers an intuitive and easy-to-navigate interface, making it simple for users to manage their financial transactions seamlessly.
  • Comprehensive Financial Tools
    The platform provides a variety of financial management tools and features, enabling users to track expenses, budget efficiently, and gain insights into their spending habits.
  • Integration Capabilities
    Open.money supports integration with various third-party applications and financial institutions, allowing for greater flexibility and connectivity in managing financial data.
  • Data Security
    The platform places a strong emphasis on user data privacy and employs robust security measures to protect sensitive financial information.

Possible disadvantages of Open.money

  • Limited Customer Support
    Some users have reported that customer support can be slow to respond or lacks comprehensive solutions to more complex issues.
  • Region Restrictions
    Open.money may have limited availability or functionality in certain regions, potentially restricting access for some users.
  • Subscription Costs
    While offering a range of features, the premium services may come with a subscription fee, which could be a deterrent for cost-conscious individuals.
  • Learning Curve
    New users may experience a learning curve when exploring and utilizing all the advanced features and tools provided by the platform.

PayU features and specs

  • Global Reach
    PayU operates in 18 high-growth markets, making it a suitable payment solution for international businesses looking to expand globally.
  • Wide Range of Payment Methods
    Supports a variety of payment methods including credit cards, debit cards, net banking, and alternative payment options like wallets and UPI, catering to different consumer preferences.
  • Security
    Employs robust security measures including PCI DSS compliance to protect sensitive data and reduce fraud risk.
  • Ease of Integration
    Offers multiple integration options including APIs, SDKs, and pre-built plugins, making it easier for businesses to incorporate PayU into their existing systems.
  • Local Expertise
    Strong local presence and understanding of regulatory environments in emerging markets, aiding businesses in navigating local financial regulations.

Possible disadvantages of PayU

  • Fee Structure
    Competitive but can be complex, potentially comprising a mix of fixed and variable fees that can add up, especially for small businesses.
  • Customer Support
    Some users have reported issues regarding the responsiveness and effectiveness of customer support, which can be a drawback during critical issues.
  • Limited Advanced Features
    While PayU covers basic payment functionalities well, it might lack some advanced features compared to its competitors, such as in-depth analytics or comprehensive reporting tools.
  • Settlement Times
    Businesses have reported delays in settlement times, which can impact cash flow management, particularly for smaller enterprises.

Analysis of PayU

Overall verdict

  • Overall, PayU is a reputable and reliable solution for businesses looking to streamline their payment processing. Its ease of integration, advanced features, and strong customer support contribute to its positive reputation in the industry.

Why this product is good

  • PayU is considered a good payment service provider due to its robust security measures, global reach, and support for a wide variety of payment methods. It offers a scalable solution that can be tailored to the needs of different businesses, whether small startups or large enterprises. Additionally, PayU provides comprehensive analytics and reporting tools to help businesses make informed decisions.

Recommended for

    PayU is recommended for e-commerce businesses, online marketplaces, and any company that needs to accept payments from customers across different regions. It is also suitable for businesses looking for customizable payment solutions and those who require robust fraud protection and analytics capabilities.

Open.money videos

No Open.money videos yet. You could help us improve this page by suggesting one.

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PayU videos

+ Add

How To Setup Your Account On PayUmoney Payment Gateway?

More videos:

  • Tutorial - How to make payumoney merchant and customer id

Category Popularity

0-100% (relative to Open.money and PayU)

Open.money

PayU

Online Payments
16 16%
Online Payments
84% 84
Accounting & Finance
100 100%
Accounting & Finance
0% 0
Payment Platform
0 0%
Payment Platform
100% 100
Billing & Invoicing
100 100%
Billing & Invoicing
0% 0

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Open.money and PayU

Open.money Reviews

  1. Shule321
    · Director at SH technologies ·
    Great app

    Overall, I highly recommend Open to fellow entrepreneurs and business owners. The platform offers a comprehensive set of features that streamlined my financial operations. Open provides tools for tracking expenses, invoicing clients, and managing cash flow. The user-friendly interface makes it easy to navigate and access the necessary information efficiently. The ability to connect multiple bank accounts and view consolidated financial data in one place has saved me a tremendous amount of time and effort. However, I do miss the founder's One Card, which was a valuable addition to the platform. I hope that Open considers relaunching it soon, as it provided convenience and enhanced control over business expenses.

  2. Deepak Das
    Simplifies transactions and exceptional support

    I have been utilizing Open for my business transactions, and it has been an incredible experience. It seamlessly integrates with my existing systems, making the payment process straightforward. I feel extremely secure using it, and whenever I have had inquiries, their customer support has been exceptionally helpful. Open provides a variety of payment options, which has significantly contributed to the growth of my business. Overall, my experience with Open has been exceptional.

  3. Akhila Lalu
    Effortless Financial Tracking with Open's Digital Dashboard

    The open digital dashboard provides the summary of my account balances, payables, and receivables, making it easy to track my finances. Moreover, the beneficiary management feature simplifies handling recipients, ensuring seamless and efficient transactions. I enthusiastically recommend it to anyone seeking to streamline their financial management.

PayU Reviews

We have no reviews of PayU yet.
Be the first one to post

Social recommendations and mentions

PayU might be a bit more popular than Open.money. We know about 1 link to it since March 2021 and only 1 link to Open.money. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Open.money mentions (1)

  • open.money bank reviews
    Has anyone used open.money for banking purpose? Source: about 2 years ago

PayU mentions (1)

  • German cartel office initiates proceedings against PayPal
    - Pay by link was very popular since forever in Poland. Seems quite safe, and lower fees than CC/paypall (I don't have a good wikipedia link in English, maybe it's called differently in different countries. The payment gateway asks you to log it to the bank—it redirects to the bank webpage, it's not scraping—and bank then asks you to confirm via app/sms and issues an instantaneous transfer). PayU is quite a... - Source: Hacker News / over 2 years ago

What are some alternatives?

When comparing Open.money and PayU, you can also consider the following products

Razorpay - Payment gateway solution for India with robust, developer friendly API and simple economic pricing.

ProPay - ProPay is a multiple payment making service provider that lets its users to make payment to anyone in any part of the world.

Enalo.in - Smart business banking with current account, GST invoicing, payment gateway, bulk payouts, expense management, automated accounting, and more.

PayPal Braintree - An all-in-one solution to accept, process, and split payments in your mobile app or online - from small business to large enterprise.

Zoho Books - Smart Accounting for Growing Business

ACE Money Transfer - ACE Money Transfer is a web-based money transfer service for sending money easily and in a hassle-free mode.

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