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March 3, 2022

PayU, VTEX partner to boost local payment options for Indian merchants

India-based fintech PayU has partnered with digital commerce platform VTEX to provide multiple local payment solutions to merchants on the latter’s platform.

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The partnership will enable VTEX to support its Indian merchants to offer businesses access to PayU’s payment solutions.

VTEX’s merchants will be able to avail PayU platform when they are doing business in India.

The integration will allow merchants to accept a range of local payment methods in the country, including credit cards, debit cards, UPI, wallets, and net banking among others.

PayU India senior vice president Mohit Gopal said: “In addition to providing VTEX merchants with payment solutions specific to the Indian market we’re excited to provide them offers engine option.

“Increasing affordability for retail consumers is a key focus at PayU and with the offers engine option, merchants can increase sales, bring in new customers, and increase ticket size. We look forward to seeing the great things VTEX merchants do with this integration.”

As part of the tie-up, VTEX merchants will be able to leverage PayU to offer consumers customised bank-based offers on debit & credit cards.

The integration will also allow them to monitor business performance, access transaction data, initiate refunds, view trends and reports of transactions right from the VTEX dashboard.

Furthermore, the partnership will help international brands to expand into the Indian market with minimal go-live time as the payment methods are easily available.

VTEX Asia head of customer success PabloLeón said: “Our strategic alliance with PayU will enable us to better position our ecommerce solution to merchants in India.

“Enabling a pre-integrated payment solution, out of the box and ready to be used, will enable faster time to revenue for clients using VTEX’s ecommerce platform, access to all the different payment methods and allow access to the high quality service provided by PayU India.”

In January this year, PayU launched LazyCard from LazyPay to tap into the growing popularity of buy-now-pay-later.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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