In previous articles we’ve explored the different ways you get paid for your sales (both online and offline), and we’ve also talked about what payment gateways are and which are the most popular in Argentina.
In this article we will look at one of the most famous catwalks in Latin America: PayU Latam (before Dineromail).
First of all… What is PayU Latam?
PayU Latam is the PayU Group division operating in Latin America. It consists of a gateway that allows you Receive payments with no integrations required with any credit card company.
To help you decide if PayU Latam is the right gateway for your business needs, we have compiled a set of data on its administration and service. Let’s see:
What do I need to open an account with PayU Latam?
First of all e.g Register in this payment gatewayyou need to fill in a series of personal or company details as shown below:
What payment methods do you accept?
PayU offers various payment options Credit Cards and Cash Deposits at approved locations.
For Argentina, the accepted funds are:
- Credit cards: Visa, MasterCard, Argencard, American Express, Cabal, Diners, Cencosud and Tarjeta Naranja.
- Debit cards: Visa, Cabal and Maestro.
- Cash payments via PagoFácil, Rapipago, Ripsa and Cobro Express payment networks.
How much do they charge for the service?
PayU Latam charges a Commission per transaction in addition to a fixed value. The current transaction value is (3.99% + 3 pesos) + 21% VAT.
Merchants have the opportunity to enter into a commercial agreement with PayU to recalculate the tariff and enter benefits according to their reach or number of transactions.
How do I get my money?
The means of withdrawing funds offered by PayU Latam are Bank Transfer. You can perform this transaction from the administration module of your PayU online account.
The request to withdraw funds to your bank account can take between 3 and 7 business days depending on the time and day of your request and the country of your bank account.
can you do up to three free transfers per month from your PayU account to your bank account. For national accounts, there is a charge of $10.00 + VAT starting from the fourth withdrawal.
For withdrawals to international accounts, this must be at least $5,000.
Is there a maximum amount per transaction?
There is an initial maximum amount for credit card payments assigned by PayU when you set up your account, but you can change it by writing to email@example.com.
What kind of security do you offer regarding online fraud?
One of the most important aspects of selling online is the security and credibility of your online store. When choosing the payment gateway, you should make sure that it has an adequate security protocol that protects your business from potential online fraud.
PayU Latam uses the protocol to automatically encrypt all information that is transmitted from your computer to its servers Secure Sockets Layer (SSL)which prevents someone from stealing your data when you surf the Internet.
Once the information reaches the gateway, it is stored on servers that are protected both physically and electronically.
PayU Latam is PCI DSS certified (Data security standard of the payment card industry) for its business, which determines that the company handles and protects credit card data properly and securely of customers paying through its platform.
This certification is supported by VISA International, MasterCard Worldwide, American Express, JCB and Discover Financial Services.
What customer service do they have?
- By email: firstname.lastname@example.org.
- Via Online Chat: To participate, you must log in to your account and click on ‘Online Consultation’.
- By phone: +5411-5984-2132 (Buenos Aires).
Do you accept payments from abroad?
Yes, with PayU Latam you can receive international card payments. To activate this option you need to send an email to email@example.com and the activation process will begin.
Will the payment come from my side or will the user be redirected to the gateway side when checking out?
at the time of payment, The user will be redirected to the PayU Latam platform to complete the transaction from your secure site.
This represents an advantage for the customer as it gives them peace of mind, but it is somewhat annoying for your business as it will be difficult to bring the shopper back to your website after the transaction is completed.
We hope that this collection of data on the payment platform PayU Latam It helped you determine if it’s right for your business.
If you don’t have your online shop yet, we invite you to do so Try the Tiendanube platform for free for 30 days.