Emerging middle class, rise of mobile technology and evolving ecommerce environments in developing markets highly contribute to the company's success and serve as accelerators for innovation.
Amsterdam, 18th December 2015 – PayU
is a leading payment services provider with presence in 16 high growth
markets across the world. Globally, more than 160,000 merchants use the
company's platform to process their payments and over 10 million buyers
have registered to its online and mobile services which allow no less
than 250 payment methods across the globe.
In 2015, the company registered a double digit growth (ranging from 40% to 80%) in each of its markets with Colombia, India, Russia and Turkey showing the highest growth. According to Larry Illg, CEO of PayU Group, both external and internal factors contributed to propel the company's outstanding results in these key regions as well as in the rest of the world:
"We are seeing that growth markets from around the world come online in a major way thanks to continuous advancements in technology", highlights Illg. "The apparition of middle-classes and the increasingly important role of mobile devices in emerging regions both contribute to the current shift in worldwide commerce and lay the ideal conditions for the implementation of our tailored solutions."
Global Player, Local Expert
By being physically present in each of the country it operates in, PayU is able to better understand the needs of consumers and adapt its services in order to deliver more accurate and up-to-date solutions. This 'Global Player, Local Expert' strategy undoubtedly pays off within fast-growing markets where constant innovation and adaptability are needed to meet consumer's ever-evolving needs and habits.
"The current state of global economy certainly impacts growth markets but it has minimal influence on long term business-builders like PayU", explains Illg. ''Our strategy and ambition for 2016 is to sustain our growth by improving the e-commerce education of all parties, enhancing the online shopping experience for both merchants and consumers and, last but certainly no least, battling against fraud with innovative technology.''
In 2015, the company registered a double digit growth (ranging from 40% to 80%) in each of its markets with Colombia, India, Russia and Turkey showing the highest growth. According to Larry Illg, CEO of PayU Group, both external and internal factors contributed to propel the company's outstanding results in these key regions as well as in the rest of the world:
"We are seeing that growth markets from around the world come online in a major way thanks to continuous advancements in technology", highlights Illg. "The apparition of middle-classes and the increasingly important role of mobile devices in emerging regions both contribute to the current shift in worldwide commerce and lay the ideal conditions for the implementation of our tailored solutions."
Global Player, Local Expert
By being physically present in each of the country it operates in, PayU is able to better understand the needs of consumers and adapt its services in order to deliver more accurate and up-to-date solutions. This 'Global Player, Local Expert' strategy undoubtedly pays off within fast-growing markets where constant innovation and adaptability are needed to meet consumer's ever-evolving needs and habits.
"The current state of global economy certainly impacts growth markets but it has minimal influence on long term business-builders like PayU", explains Illg. ''Our strategy and ambition for 2016 is to sustain our growth by improving the e-commerce education of all parties, enhancing the online shopping experience for both merchants and consumers and, last but certainly no least, battling against fraud with innovative technology.''
About PayU
PayU is the leading online payment service provider dedicated to creating a fast, simple and efficient payment process for merchants and buyers in 16 high growth countries in Asia, Central and Eastern Europe, Latin America, the Middle East and Africa. These markets represent a potential consumer base of over 2.2 billion people and the company now counts more than 1,400 payment specialists constantly working to exceed PayU's 160,000+ merchants and millions of buyers. More info over PayU: www.payu.com
PayU makes up the e-payments division of Naspers Ltd. a broad-based, multi-national media group founded in 1915, which provides services in more than 133 countries. Naspers primarily operates in Internet services, especially ecommerce, pay television and print media and is listed on both the Johannesburg and London Stock Exchanges.
PayU is the leading online payment service provider dedicated to creating a fast, simple and efficient payment process for merchants and buyers in 16 high growth countries in Asia, Central and Eastern Europe, Latin America, the Middle East and Africa. These markets represent a potential consumer base of over 2.2 billion people and the company now counts more than 1,400 payment specialists constantly working to exceed PayU's 160,000+ merchants and millions of buyers. More info over PayU: www.payu.com
PayU makes up the e-payments division of Naspers Ltd. a broad-based, multi-national media group founded in 1915, which provides services in more than 133 countries. Naspers primarily operates in Internet services, especially ecommerce, pay television and print media and is listed on both the Johannesburg and London Stock Exchanges.
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