PayKun

What is PayKun

PayKun is an online payment gateway solution based in India. Its main purpose is to help businesses, from small startups to larger enterprises, accept digital payments from their customers easily and securely. The platform allows merchants to collect payments through various methods on their websites, mobile applications, or even without a website using payment links. PayKun was founded to provide a simple, affordable, and secure payment processing service. It focuses on offering low transaction rates and strong customer support to make online payment collection accessible for all types of businesses in the Indian market. The company is headquartered in Bhavnagar, Gujarat, India.

PayKun Features

PayKun offers a set of features designed to simplify the payment collection process for businesses.

• Multiple Payment Modes: Supports over 120 payment options, including domestic and international credit/debit cards, Net Banking from various banks, UPI, QR codes, and popular mobile wallets. This variety ensures customers can pay with their preferred method.
• Payment Links: Merchants can create and share payment links via SMS, email, or social media platforms like WhatsApp. This feature is useful for businesses that do not have a website or for collecting payments for individual orders.
• Payment Buttons: Easily add a customizable 'Pay' button to any website or blog without needing complex coding skills. This allows for quick integration to start accepting payments for products or services.
• Easy Integration: Provides ready-to-use plugins and SDKs for major e-commerce platforms and programming languages like WooCommerce, Magento, PHP, and Android. This simplifies the technical setup for developers.
• Fast Settlements: Ensures that merchants receive their funds in their bank accounts quickly. The settlement cycle is clear, helping businesses manage their cash flow effectively.
• Secure Transactions: PayKun is PCI DSS compliant, which is a global security standard for payment processing. This ensures that all transaction data is handled in a secure environment.
• Dedicated Support: Offers customer support through multiple channels, including phone calls, live chat, email, and WhatsApp. Each merchant is often assigned an account manager for personalized assistance.

PayKun Pricing Plans

PayKun follows a straightforward and transparent pricing model. Instead of multiple tiers, it offers a single plan for all its merchants. This plan does not include any setup fees, integration fees, or annual maintenance charges. Businesses are only charged a flat percentage fee per successful transaction. This pricing structure is particularly beneficial for startups and small to medium-sized businesses as there are no fixed costs to get started. The transaction fee is the same for most payment methods, including credit cards, debit cards, UPI, and wallets, making it easy to predict costs.

PayKun Free Plan

PayKun does not have a traditional free plan where transactions are processed for free. However, setting up an account with PayKun is completely free. There are no setup fees or annual maintenance charges. You only pay a fee when you successfully process a payment from a customer. This pay-as-you-go model means you can create an account, integrate the gateway, and keep it active without any cost until you start making sales.

How to use PayKun

Getting started with PayKun is a simple process. Here are the typical steps:

1. Sign Up: Visit the PayKun website and register for a new merchant account by providing basic details about your business.
2. Submit Documents: Complete the KYC (Know Your Customer) process by uploading the required business documents, such as your business registration certificate, PAN card, and bank account details.
3. Account Activation: The PayKun team will review your documents. Once verified, your account will be activated.
4. Integration: If you have a website or app, you can integrate the PayKun payment gateway using their plugins for platforms like WooCommerce or by using their SDKs for custom development.
5. Start Accepting Payments: Once integrated, you can start accepting payments from customers. If you don't have a website, you can immediately begin using Payment Links or Payment Buttons to collect payments.
6. Track and Settle: Use the merchant dashboard to track all your transactions in real-time. Payments collected will be settled to your linked bank account according to the settlement cycle.

Pros and Cons of PayKun

Pros:

• Low Transaction Fees: Offers one of the most competitive and transparent transaction rates in the Indian market.
• No Hidden Costs: There are no setup fees or annual maintenance charges, making it very cost-effective for new businesses.
• Wide Range of Payment Options: Supports over 120 payment methods, providing convenience for customers.
• Good Customer Support: Provides responsive and multi-channel support, including dedicated account managers.
• Easy to Use: The platform is user-friendly, and features like Payment Links and Buttons are easy to implement without technical knowledge.

Cons:

• Primarily India-Focused: While it supports international cards, its core services and support are optimized for the Indian market.
• Newer Player: It is a relatively newer company compared to some established competitors in the market.
• Limited Advanced Features: May lack some of the advanced financial products offered by larger competitors, such as business loans or corporate credit cards.

PayKun integrations

PayKun provides plugins and SDKs to integrate with various platforms, making it easy to add to your existing website or application. Key integrations include:

• E-commerce Platforms: WooCommerce, Magento, OpenCart, PrestaShop, WHMCS.
• Programming Languages: PHP, Python, .NET, Java, Node.js.
• Mobile Platforms: Android and iOS SDKs are available for mobile app integration.

These integrations allow businesses to quickly set up the payment gateway without extensive custom development.

PayKun Alternatives

• Razorpay: A leading payment solutions provider in India offering a wide suite of products beyond a payment gateway, including business banking (RazorpayX), payroll, and capital services. It is known for its robust API and extensive features.
• PayU: A well-established global payment gateway with a strong presence in India. It offers reliable payment processing and is trusted by many large enterprises.
• Instamojo: Focuses on small and micro-businesses. Besides payment links and gateways, it offers tools to create free online stores, manage shipping, and more.
• Cashfree Payments: Offers a comprehensive product suite that includes payment collections, subscriptions, and bulk payouts. It is known for its fast settlement options and advanced payment solutions.

PayKun API

Yes, PayKun provides a well-documented REST API for developers who need to create custom integrations. The API allows for complete control over the payment process, from initiating transactions to verifying payment status.

To get your API key, you must first have an activated merchant account. The Merchant ID and Access Token (API Key) can be found in your PayKun merchant dashboard under the developer settings section. These credentials are required to authenticate your API requests.

Here is a generic example of how you might initiate a payment using a cURL request:

curl -X POST https://api.paykun.com/v1/transaction/create \
-H "Content-Type: application/json" \
-H "MerchantId: YOUR_MERCHANT_ID" \
-H "AccessToken: YOUR_ACCESS_TOKEN" \
-d '{
  "order_no": "ORD12345",
  "product_name": "Sample Product",
  "amount": "100.00",
  "customer_name": "John Doe",
  "customer_email": "john.doe@example.com",
  "customer_mobile": "9876543210",
  "redirect_url": "https://yourwebsite.com/payment/success",
  "notify_url": "https://yourwebsite.com/payment/webhook"
}'

PayKun Affiliate program

PayKun offers a Refer & Earn program for its registered merchants. Through this program, a merchant can refer other businesses to use PayKun's services. When the referred business signs up and starts transacting, the referring merchant earns a commission or a bonus. The specific details of the earnings and terms are available within the merchant dashboard. To participate, you need to log in to your PayKun account, find the 'Refer & Earn' section, and use your unique referral link to invite others. For more structured partnership or affiliate opportunities, it is best to contact their support team directly to inquire about becoming a formal partner.