PayU is a leading financial services provider in growing markets. Their innovative technology has been developed internally and through strategic investments and partnerships. The system allows billions of people and millions of merchants to buy and sell online. This allows you to expand the scope of financial services. The payment system allows payments in emerging markets thanks to direct connections with buyer banks and alternative payment methods. Local processing offers many advantages for you and your customers. In many markets, bank penetration is less than 50%, offering alternative local payment methods, it is possible to reach the entire market.
PayU specializes in credit products and services for emerging markets around the world. Their goal is to remove risks for traders. In addition to this, they want to allow more global citizens to access credit services. Emerging markets, where there is no formal access to credit, but high mobile penetration, are an interesting opportunity for the hospitality sector. For example, in India there are 2 billion people who do not have formal access to credit and over 300 million smartphone users who could benefit from digital loans via their mobile phones. PayU’s goal is to connect consumers and businesses, improving access to credit in markets such as India and Africa.
But how is it possible?
PayU processes around 1.6 million payments a day. This creates a rich data pool that joins the partnerships with over 70 banks worldwide and 15 financial networks. These structured and usable data combined with innovative technology allow PayU to extend credit to customers not covered by traditional banks.