PayU is a Fintech company that was launched in 2002. The company that is headquartered in the Netherlands developed a payment solution for online merchants. The company behind the platform is Naspers Group, a South-African multinational holding company based in Cape Town. It is often referred to as the PayPal of the developing world.
PayU employs numerous payment gateways from different parts of the world. The parent company purchased payment companies in different countries thus expanding to new regions. For instance, in 2016, the company purchased India’s Citrus Pay with a customer base of 30+ million customers, and in 2018, the company acquired Zooz, an Israeli startup that provides an API to merchants giving them access to multiple payment methods. Also, the company invested in German fintech company Kreditech, Seattle-based remittance company Remitly, purchased Romanian online payments company GECAD ePayments, US-based digital financial security firm Wibmo, Turkish digital payments company Iyzico, Indian fintech startup PaySense, etc. In this way, its presence was spread in Europe, Africa, Latin America, and India. The company says that it operates in more than 50 markets.
PayU benefits
Buying the best fintech companies, PayU also acquired developments in the financial and technological spheres thus enriching its experience. If merchants connect to PayU, they can take advantage of the solution, which is the result of joint efforts in the industry. Fast integration is available for merchants with any e-commerce platform.
The company pays much attention to security and offers a secure payment system. The team of the company uses its own AI technology to reduce false positives. AI-based fraud identification system employed by the company has proven its efficiency.
Merchants can increase sales using PayU technologies. The payments can be easily controlled by merchants from any place. They can enter the system on the desktop or use the mobile app for that. Also, one-to-one support delivered by the company helps to raise sales to 8%.
The customers pay without leaving your website page. They should just enter card details and complete their payments via iyziko, the PayU payment service. The payment is approved and completed in milliseconds. The payments are available in different currencies. The card storage feature enables safe and secure storage of your personal data to improve and speed up the purchase experience.
Thousands of tests were completed to provide an optimized payment experience for customers. The efforts and expenditures paid off. Merchants can increase their conversion and customer loyalty thanks to PayU efforts.
PayU fees
Merchants shouldn’t have to pay some starting price or a fixed fee to use the service. There is no monthly subscription either. The payments are charged with fee 2,99% + 0,25 TL (Turkish Lira). Merchants with a volume of over 20,000 TL should contact the office to get an individual offer.
How to connect to the service
Business owners should contact the company to connect to the service. It is necessary to fill out the form on the application page to start selling online. The registered merchants should pass email verification first to activate the account and then submit the required documents to complete the application.
