PayU partnered with Visa to start push payments for businesses in Europe
By Joy Dumasia
PayU, an online payment service provider for emerging markets, announced that it would enable push payments in partnership with Visa.
PayU is launching the Card Push service to provide quick, efficient and straightforward payments to endpoints. Through Visa Direct, the real-time push payments platform, businesses using PayU Card Push will be able to instantly transfer money to a bank account linked to a Visa card.
Sending transactions to billions of endpoints around the world requires security at scale. PayU’s integration with Visa Direct, businesses working with the provider, will make quick, easy, and efficient payments to their clients, partners and employees, including fast payouts to workers, which is critical during a worldwide push for economic recovery.
Visa Direct makes it possible for PayU Card Push to serve many business models previously unavailable to card payments, including insurance disbursements, tax refunds, prize payouts, and many more. Visa Direct is also an opportunity for many businesses to grow and go global.
Joanna Pieńkowska-Olczak, President, PayU, said: “With PayU Card Push, we’re introducing a solution that responds to the needs voiced by many of our clients. It helps online businesses send money to users, employees, contractors and partners. PayU Card Push will be available first to PayU’s business partners in Poland and the Czech Republic, with a view to launching it across the European Union.”
Katarzyna Zubrzycka, Head of Merchant Sales & Acquiring, Central Eastern Europe, Visa, said: “Providing consumers with frictionless, secure, and real-time access to their funds not only enhances their payment experiences but also propels communities forward and drives the global economic recovery. Shaping the future of business and labour while helping people crowdfund ideas that change the way we pay and receive funds is part of Visa’s mission.”
Recently, IBS Intelligence reported that FinTech PayU announced a partnership with cloud-based payments processing startup, Silverflow in a bid to offer Payment Service Providers (PSPs) globally with a new card acquiring process.
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