Emaar MGF & PayU Partner To Provide Online Payments For Real Estate Transactions
Emaar MGF Land Limited, one of India’s leading real estate developers, will now give its buyers the option to pay online.
In a significant move, Emaar have tied up with PayU, one of the largest consumer payment processors in the world. As a result of this association, e Emaar MGF will be able to offer a unique and secured payment gateway on its customer service portal, ‘e-Services’. Customers availing this facility can make any payment at any time with no NEFT or RTGS restrictions or limit on the amount being transferred.
Emaar MGF, a joint venture between MGF developments Ltd and Emaar Properties PJSC, Dubai, has been instrumental in bringing one of the largest FDI in the Indian real estate sector. The company started its operations in India from its New Delhi based headquarters in mid 2005 and is engaged in residential, commercial, retail and hospitality projects across India.
Headquartered in India in Gurgaon with six regional offices (across Mumbai, Bangalore, Hyderabad, Kolkata, Pune, Jaipur & Shimla), PayU India is the Indian wing of PayUMoney.
PayUMoney is a FREE and unique online payments solution for anyone who wants to collect payments in India (be it Individuals, brick & mortar start-ups, Freelancers, Schools, Hotels, Utility companies, Residential societies, Telcos, Insurance companies, traders, retailers etc. PayU has been operational in India for only two years but it has already made its presence felt by becoming the leading players in E-commerce category and No. 2 player in overall payments Industry.
PayU serves more than 30000 businesses today with proven success records. Its clientele includes -Goibibo, Snapdeal, Bookmyshow, Jabong, and Ferns n Petals, Freecharge, Zomato, Dominos, Redbus, Rechargeitnow, Micromax Mobiles, Groupon India and many more.
As the two join hands, they hope to make things easier for their customers.
Mr. Ajay Nambiar, Chief Services Officer, Emaar MGF Land Limited commented “Considering the intense penetration of online services in the country, we realized it is the right time that the real estate industry integrates online connectivity to the plethora of its services. Incorporating the online payment services for our customers brings us at par with the internet evolution and has eased a lot of our operational functions.”
Emaar is a powerful corporate entity driven by its mission to develop and deliver unique integrated lifestyle and work place environments and planned developments and to be recognized as a responsible corporate citizen and an employer of choice. The customer service portal is a proposition with high-value addition for the consumers and Emaar MGF, in terms of convenience and real time confirmation it offers. Apart from this, the customer need not make multiple payments for different projects of Emaar MGF. Simply, they have to make one payment and PayUMoney intelligently split it among the various projects.
Commenting on this, Mr. Vikrant Khorana, VP & Business Head, PayUPayments Pvt Ltd said, “We are happy to partner with Emaar MGF as their payment gateway provider. Our objective is to provide convenience to their customers. They are now just a click away from making payments and keeping track of their investments. We intend to revolutionize the real estate industry by streamlining the complex payment procedures and introducing them to a solution which is simple, fast and convenient.”
The tie-up between two market leaders in their respective fields augurs well for e-commerce in India, without an iota of doubt. How much this proposed tie-up system helps in a country like ours where ‘unaccounted’ or black money forms a sizeable part of the real estate transactions remains to be seen.