Market: PayU gets cross-border approvals

Merchants to get seamless omni-channel experiences

PayU, India’s leading diversified fintech platform, has received integrated authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator across online, offline (physical) and cross-border transactions, including both Inward and Outward, under the Payment and Settlement Systems (PSS) Act.

This approval enables PayU to offer secure, compliant, and seamless payment acceptance, settlement and cross-border solutions for merchants across channels. 

“We are honored to receive the Reserve Bank of India’s continued trust and authorization to operate as a Cross-Border (Both Inward & Outward) Payment Aggregator, in addition to online and offline PA. This milestone reinforces our commitment to building a resilient and innovation-driven payments ecosystem, enabling us to offer secure, transparent, and customer-first payment solutions, including seamless omni-channel experiences for merchants of all sizes,” a PayU spokesperson said on 17 Nov. 

This development further strengthens PayU’s position as a full-stack digital payments provider, empowering businesses with reliable and seamless experiences across online, offline and cross-border touchpoints, the spokesperson said. 

PayU, India’s leading diversified fintech platform with Prosus as an investor, operates businesses that are regulated by the Reserve Bank of India and offers advanced solutions to meet the digital financial services needs of customers (merchants, banks, and consumers).

PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology and has empowered 4.5 lakhs+ businesses, including India’s leading enterprises, e-commerce giants and SMBs. It enables businesses to collect digital payments across 100+ online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, pay-later, QR, UPI, Wallets, and more. It’s a preferred partner in the affordability ecosystem, offering the maximum coverage of issuers and easy-to-implement integrations across card-based EMIs, pay-later options and new-age cardless EMIs. PayU offers e-commerce brands best-in-industry success rates while ensuring a seamless checkout experience. Fiinews.com