Mastercard Backs PayU To Introduce New Cross-Border Payment Solutions

PayU, a major digital payments firm backed by Prosus, has now unveiled new payment solutions. The company said these solutions will assist merchants with cross-border support and issuer authentication. Mastercard assisted PayU in launching these solutions at the 2024 Global Fintech Festival.

The latest announcement came after PayU launched a push provisioning system to enable smooth card tokenization between banks and merchants. The company stated that the new solutions will improve international transactions. They were introduced to give merchants, issuers, and customers smooth payment experiences worldwide.

PayU Plans To Expand Its Issuer Authentication Solutions To Top Networks

PayU wants to expand the newly unveiled solutions to many top networks later. The company said these solutions will bring ease, convenience, and safety. They will introduce numerous benefits to the payment ecosystem, including those entities that issue payments.

PayU stated that the issuer authentication solution lets issuers instantly connect to their platform to identify and authorize international online payments that are not secured with 3D technology. The company noted that the solution also strengthens fraud detection and follows global regulations.

Manas Mishra, PayU’s Chief Product Officer, stated that the firm’s subscription multiplier solutions are designed with the needs of the payments system in mind. He said these tools are essential for global marketplace success.

Mishra explained that by focusing on security and simplicity, PayU ensures its solutions do more than just help the industry. They also give customers great advantages and a pleasant experience. The company announced that it has been upgrading its portal recently with assistance from other businesses. It plans to bring in new services.

PayU Has Launched A New Payment Service To Simplify Card Tokenisation

PayU announced that it has introduced a new system in partnership with Visa and Mastercard. The aim is to simplify card tokenization between banks and merchants. This change is set to enhance online card transactions.

Earlier this month, PayU partnered with Amazon Pay Later to add this service to PayU’s advanced checkout system. This setup will permit online shops to supply their customers with swift, versatile, and convenient credit solutions. PayU continues to offer new payment solutions to assist businesses worldwide to prosper and grow.

In July, Vi Business, part of Vodafone Idea, teamed up with a financial service provider to offer tailored digital payment solutions for small and medium-sized businesses. The payments giant headquartered in South Africa is now planning to go public in India. According to reports, PayU India is exploring options for an initial public offering (IPO) of its Indian operations.