By: 29 February 2024

PayU introduces self-onboarding and payment solutions

PayU’s new tools to propel SMEs in Peru

Online payment service provider PayU GPO, has started to offer small and medium enterprises (SMEs) in Peru self-onboarding to accelerate their growth.  

The new tool will speed up SMEs’ access to more than 50 markets across Latin America and beyond, which the Netherlands-based company operates in.  

The company has also launched a new suite of payment solutions and integrations including Yape, Pago Effectivo QR and Shopify to expand and diversify payment options for merchants in the country.  

SMEs in Peru face many challenges which are inhibiting their growth, PayU said. Limited access to affordable financing options, complex bureaucratic processes, and a high inflationary market are slowing progress. 

Ecommerce is a solution for businesses to navigate these challenges, increase sales and remain competitive.  

There has been a shift for SME operators from the traditional sales model to an efficient digital model that provides businesses with an essential tool to succeed in a digital era.  

Daniel Cohen, chief executive officer at PayU GPO, said: “Our commitment to empowering entrepreneurs and small businesses reaches a new milestone with this important update to our payment solution in Peru.  

“This advancement demonstrates not only our intent to drive local progress and inclusion in the digital economy but our contribution to Latin American growth and prosperity.” 

Carlos Lizana Mariátegui, country manager of PayU Peru, commented: “With this development, we are reaffirming our position as a leader in Peru, underlining our strategic role in propelling regional growth.  

“These new payment solutions and ecommerce integrations contribute to our mission of expanding and diversifying payment options for merchants, enabling them to forge stronger connections with their customers.” 

Image: Canva  

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Josh Poyser
Josh Poyser is an editor at FinTech Intel. He has written about fintech for several years and appeared at FinTech Connect 2023 on the 'Unlocking Success: The Art of Fintech PR' panel.