PayU and VTEX join hands to offer merchants multiple local payment methods
March 7, 2022
NEW DELHI, March 3, 2022 /PRNewswire/ – PayU has collaborated with VTEX, one of the largest global digital commerce platforms, to offer multiple payment solutions to VTEX merchants. The unique integration by VTEX to support their merchants in India will provide businesses seamless access to PayU’s payment solutions. The integration aims to simplify payment methods for the merchants using VTEX platform. PayU platform will be available for VTEX’s merchants when they are doing business in India.
VTEX (NYSE: VTEX), the enterprise digital commerce platform for premier brands and retailers, the leader in accelerating the digital commerce transformation in Latin America and now expanding globally, and PayU, India’s leading online payment solutions provider, are working in collaboration to offer more than 100 options of payment solutions to the merchants in India. The unique integration will provide direct & seamless access to PayU’s payment gateway solutions, EMI, refunds, offer engines, and payment methods like UPI, net banking, credit and debit cards. This move aims to simplify payment methods for the consumers using the VTEX platform.
“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 outstanding service provided by PayU India”, says Pablo Che León, Head of Customer Success for VTEX in Asia.
The collaboration will provide direct access to over 100 local payment methods in India including credit cards, debit cards, UPI, wallet, and net banking. Given PayU’s direct integration with leading Indian banks, VTEX merchants such as global players operating in different industries (FMCG, consumer tech, e-commerce, beauty, apparel and lifestyle) using PayU can get, on average, a higher success rate than industry standards.
“In addition to providing VTEX merchants with payment solutions specific to the Indian market, we’re excited to provide a new engine option. Increasing affordability for retail consumers is a key focus at PayU and with this resource, merchants can increase sales, bring in new customers, increase ticket size – a win for everyone. We’re excited to see the great things VTEX merchants will be able to do with this integration”, says Mohit Gopal, Senior Vice President, PayU India.
VTEX merchants will have access to state-of-the-art features. Affordable and Accessible, they will help to reduce higher transactional values. By using PayU’s offer engines, they will be able to provide hyper customised bank-based offers on debit & credit cards to consumers, making purchases more affordable and leveraging their businesses. In addition, merchants can monitor business performance, initiate refunds, access transaction data, view trends and reports of transactions right from the VTEX dashboard itself, without switching applications.
The integration will also pave way for international brands to enter the Indian market and reduce the go-live time since the payment methods will be quicker and easier for consumers.
About VTEX
VTEX (NYSE: VTEX) provides a software-as-a-service digital commerce platform for enterprise brands and retailers. Our platform enables our customers to execute their commerce strategy, including building online stores, integrating and managing orders across channels, and creating marketplaces to sell products from third-party vendors. Founded in Brazil, we have been a leader in accelerating the digital commerce transformation in Latin America and are expanding globally. Our platform is engineered to enterprise-level standards and features. We are trusted by more than 2,000 customers with over 2,500 active online stores across 32 countries, who rely on VTEX to connect with their consumers in a meaningful way*.
*Figures as of FY ended on Dec. 31st, 2020
About PayU
PayU is regulated under the Reserve Bank of India and has solutions to meet the digital payment needs of Indian merchants. It provides online payment solutions to businesses through local payment methods. PayU also developed LazyPay in 2017, an alternate lending platform to offer credit solutions.
