PayU, an online payment service provider, has partnered with payment technology provider Zooz to provide its customers with Zooz technology that is designed to ease cross-border commerce challenges.
Zooz streamlines cross-border commerce by connecting merchants to multiple financial and technological entities and payment methods, “Smart Routing” payments to the most appropriate provider for a given transaction. PayU plans to extend the reach of its financial services in growth markets by leveraging the Zooz technology to help merchants adapt to local payment preferences and processes.
“High growth markets make up 85% of the world’s population, and ambitious merchants are increasingly attracted to the business opportunities this presents,” said Matthias Setzer, COO of PayU in a statement. “However, they are held back by cumbersome cross-border payment infrastructure and processes. That’s why we are delighted to partner with Zooz, using its unique payments technology to help us solve some of the difficulties facing merchants.”
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