Cub Merchant UPI App Download: A Guide for Merchants
If you are a merchant who wants to accept digital payments from your customers, you might have heard of UPI or Unified Payments Interface. UPI is a platform that enables instant and secure money transfers between bank accounts using a smartphone. In this article, we will tell you everything you need to know about Cub Merchant UPI App, an app by City Union Bank that allows merchants to accept UPI payments. We will also show you how to download and use the app, and how to compare it with other UPI apps.
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What is UPI and how does it work?
UPI or Unified Payments Interface is a platform that was launched by the National Payments Corporation of India (NPCI) in 2016. It allows users to send and receive money from their bank accounts using a single app on their smartphones. Users can link multiple bank accounts to one app and choose any account for making or receiving payments. Users can also create their own virtual payment address (VPA) that acts as their unique identifier for transactions.
UPI is a platform for instant and secure money transfers
UPI enables real-time money transfers 24/7, throughout the year. Users can transfer money to any other user or merchant who has a bank account linked with UPI. The transactions are encrypted and authenticated by a PIN or biometric verification. Users do not need to share their bank account details or card numbers with anyone.
UPI allows users to link multiple bank accounts to a single app
Users can link any number of bank accounts to one UPI app of their choice. They can also switch between different accounts for different transactions. This gives them flexibility and convenience in managing their finances. Users can also check their account balance and transaction history on the app.
UPI enables payments through QR codes, VPA, mobile numbers, or Aadhaar numbers
Users can make payments through various modes on UPI. They can scan a QR code displayed by the merchant or generate their own QR code for the payer to scan. They can also enter the VPA, mobile number, or Aadhaar number of the payee and confirm the payment. These modes eliminate the need for entering the bank account number and IFSC code of the payee.
What is Cub Merchant UPI App and why should you use it?
Cub Merchant UPI App is an app developed by City Union Bank for merchants to accept UPI payments from their customers. The app is available for both Android and iOS devices and can be downloaded from Google Play Store or App Store. The app is designed to cater to the needs of small and medium businesses, as well as online sellers.
Cub Merchant UPI App offers features like MIS reports, QR code generation, transaction history, etc.
Cub Merchant UPI App provides various features to help merchants manage their payments and transactions. Some of the features are:
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MIS reports: Merchants can view and download various reports on their transactions, such as daily, weekly, monthly, or custom reports. They can also filter the reports by date, amount, status, etc.
QR code generation: Merchants can generate their own QR codes and display them at their store or website. They can also customize the QR codes with their logo, name, etc.
Transaction history: Merchants can view the details of all their transactions on the app, such as date, time, amount, payer name, VPA, etc. They can also search for a specific transaction by entering the transaction ID or VPA.
Refund: Merchants can initiate a refund to their customers in case of any dispute or error. They can enter the transaction ID and the amount to be refunded and confirm the refund.
Notification: Merchants can receive notifications on their app for every transaction. They can also enable or disable the sound and vibration settings for the notifications.
Cub Merchant UPI App has benefits like low transaction charges, fast settlement, easy integration, etc.
Cub Merchant UPI App offers various benefits to merchants who use it for accepting UPI payments. Some of the benefits are:
Low transaction charges: Merchants have to pay a nominal charge of 0.65% per transaction (subject to a minimum of Rs. 1 and a maximum of Rs. 15) for using Cub Merchant UPI App. This is lower than most other UPI apps that charge around 1% per transaction.
Fast settlement: Merchants receive the payment in their bank account within 24 hours of the transaction. This helps them to improve their cash flow and liquidity.
Easy integration: Merchants can easily integrate Cub Merchant UPI App with their existing POS system or website. They can also use the app as a standalone payment solution without any hardware or software requirements.
Customer loyalty: Merchants can attract more customers and retain them by offering them a convenient and secure way of paying through UPI. They can also offer discounts or incentives to customers who pay through UPI.
How to download and use Cub Merchant UPI App?
If you are interested in using Cub Merchant UPI App for your business, you can follow these simple steps to download and use the app:
Download Cub Merchant UPI App from Google Play Store or App Store
You can download Cub Merchant UPI App from Google Play Store if you have an Android device or from App Store if you have an iOS device. You can search for "Cub Merchant UPI" on the respective stores or scan the QR code below to download the app:
[PhonePe]: PhonePe is a UPI app by Flipkart that allows users to send and receive money from any bank account using their phone number or VPA. PhonePe also offers features like rewards, cashback, offers, bill payments, recharges, etc. PhonePe charges a fee of 0.65% per transaction for UPI transactions.
[Paytm]: Paytm is a UPI app by Paytm that allows users to send and receive money from any bank account using their phone number or VPA. Paytm also offers features like rewards, cashback, offers, bill payments, recharges, etc. Paytm charges a fee of 0.65% per transaction for UPI transactions.
[Amazon Pay]: Amazon Pay is a UPI app by Amazon that allows users to send and receive money from any bank account using their phone number or VPA. Amazon Pay also offers features like rewards, cashback, offers, bill payments, recharges, etc. Amazon Pay charges no fees for UPI transactions.
Conclusion
Cub Merchant UPI App is a convenient and cost-effective way to accept digital payments from your customers. It helps you to grow your business and reach more customers by offering them a secure and hassle-free way of paying through UPI. It also provides you with various features and benefits that make your transactions easy and efficient. Cub Merchant UPI App is easy to download and use, and you can start accepting UPI payments in no time.
FAQs
What are the charges for using Cub Merchant UPI App?
Cub Merchant UPI App charges a nominal fee of 0.65% per transaction (subject to a minimum of Rs. 1 and a maximum of Rs. 15) for using the app. This is lower than most other UPI apps that charge around 1% per transaction.
How can I contact the customer care of Cub Merchant UPI App?
You can contact the customer care of Cub Merchant UPI App by calling the toll-free number 1800-425-5501 or 1800-103-5501. You can also email them at customercare@cityunionbank.com or visit their website www.cityunionbank.com for more information.
What are the security features of Cub Merchant UPI App?
Cub Merchant UPI App has various security features to ensure the safety of your transactions and data. Some of the security features are:
The app is encrypted and authenticated by a PIN or biometric verification.
The app does not store any sensitive information such as bank account details or card numbers on your device or server.
The app follows the guidelines and standards of NPCI and RBI for UPI transactions.
The app has a fraud detection and prevention system that monitors and alerts you of any suspicious activity on your account.
How can I update or delete my bank account details on Cub Merchant UPI App?
You can update or delete your bank account details on Cub Merchant UPI App by following these steps:
Open the app and go to the "Profile" section.
Select the bank account that you want to update or delete.
Tap on the "Edit" or "Delete" option and confirm your action.
What are the transaction limits on Cub Merchant UPI App?
The transaction limits on Cub Merchant UPI App are as follows:
The maximum amount per transaction is Rs. 1 lakh.
The maximum amount per day is Rs. 2 lakh.
The maximum number of transactions per day is 20.
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