In a strategic move to bolster global payment services, Netherlands-based PayU has announced a partnership with Mastercard to introduce advanced cross-border issuer authentication solutions. This development is part of PayU’s broader strategy, which also includes recent collaborations with Visa and Mastercard aimed at enhancing card tokenization processes.
Additionally, PayU has integrated Amazon Pay Later into its checkout system, enabling online merchants to offer customers instant credit options. This integration is a key step in PayU’s mission to simplify and secure online transactions, providing a more seamless shopping experience.
Strengthening Global Payment Systems
PayU’s new cross-border issuer authentication solution is designed to streamline international e-commerce transactions. The platform allows issuers to instantly connect with an authentication system that identifies and authorizes non-3D secure payments, improving security and reducing fraud. By ensuring compliance with global regulatory standards, this solution aims to make cross-border payments more efficient and secure for merchants and consumers alike.
This collaboration with Mastercard reflects PayU’s commitment to enhancing its digital payment platform through strategic alliances. In line with this, PayU recently launched a push provisioning platform in partnership with major card networks, including Visa and Mastercard, to facilitate seamless card tokenization between banks and merchants. This initiative further strengthens PayU’s position as a leader in the global payments market.
Expanding Payment Options with Amazon Pay Later
In addition to its collaboration with Mastercard, PayU has integrated Amazon Pay Later into its payment infrastructure, allowing merchants to offer flexible credit options at checkout. This move is expected to enhance the purchasing experience for customers, providing them with more payment choices and increasing merchant sales.
As PayU continues to expand its global presence, the company is reportedly exploring the possibility of a public listing in India, signaling its ongoing growth and ambition.
Mastercard’s New Payment Innovations
In related news, Mastercard has introduced a new payment passkey service designed to enhance the security of online shopping. The service, which will be piloted in India, is part of a broader effort to protect consumers and merchants from fraud while simplifying the payment process. The passkey service will be tested in collaboration with major payment players, including Juspay, Razorpay, and PayU.
Furthermore, last month, Mastercard partnered with Ecommpay to roll out the Click to Pay solution across the UK and Europe. This service, which eliminates the need for passwords and manual card entry, aims to improve the guest checkout experience by using user recognition, network tokenization, and global standards. The collaboration with Ecommpay is expected to enhance transaction approval rates and provide a more streamlined payment experience for consumers.
By forming these strategic partnerships and launching new payment solutions, PayU and Mastercard are setting the stage for a more secure and efficient global payments ecosystem.
