PayU Forges Global Partnership with Zooz to Facilitate Merchant Access to High Growth Markets

by PaymentsJournal 0

Companies to Exhibit Together andAnnounce Additional News at Money20/20 Europe


Hoofddorp, The Netherlands – June 6th, 2017 – PayU, the global onlinepayment service provider, today announced a partnership with payment technologyprovider Zooz. Through the agreement, PayU will provide Zooz’s uniquetechnology to its customers, helping to solve the cross-border commercechallenges currently faced by merchants looking to grow and scale in highgrowth markets. The companies will make a second announcement when they appeartogether in the Atrium Lounge at Money20/20 Europe, taking place in Copenhagen,Denmark from June 26-28.

PayU and Zooz executives will also participate in a session at Money20/20Europe:

‘Reaching2

,

3B new customers in emerging marketswith 1 single API’

Monday June, 26, June , 4:25PM / Tracksession #5

PayU CCO, Matthias Setzer and ZoozCEO, Oren Levy


Zooz facilitates cross-border commerce by connecting merchants to multiplefinancial and technological entities and payment methods, and Smart Routing™each payment to the most appropriate provider for that transaction. As Zooz’sfirst global partner, PayU will extend the reach of its financial services ingrowth markets by capitalising on Zooz’s state-of-the-art technology to helpmerchants adapt to local payment preferences and processes.

The next step of the partnership, which is in its induction stage, will be thecompletion of pilot tests of Zooz’s globally distributed architecture by selectPayU customers. The results of these tests and their impact on cross borderpayments and processes are expected later this year.

PayU CCO Matthias Setzer said, “High growth markets make up 85 percent of theworld’s population, and ambitious merchants are increasingly attracted to thebusiness opportunities this presents. However, they are held back by cumbersomecross-border payment infrastructure and processes. That’s why we are delightedto partner with Zooz, using its unique payments technology to help us solvesome of the difficulties facing merchants.

“This announcement is another example of PayU seeking the best internationalpartnerships to build on our heritage in payments and deliver innovations thathelp merchants scale in high growth markets.”

Zooz CEO Oren Levy stated, “With its impressive track record in high growthmarkets, PayU is clearly aware of the opportunities and barriers faced byinternational merchants. The combination of PayU’s expertise and customer basewith Zooz’s advanced technology platform is a natural fit, and we look forwardto helping merchants gain access to new global markets and opportunities.”