Financial

Computop, PayU extend payment solutions for retailers

Read time 2min 40sec
Retailers need to offer payment solutions that match consumer behaviour, says PayU's Mark van der Sluis.
Retailers need to offer payment solutions that match consumer behaviour, says PayU's Mark van der Sluis.

Payment service provider Computop and Naspers-owned PayU have partnered to enable South African online retailers to sell into high-growth markets.

The companies say the partnership will provide retailers with payment solutions for high-growth markets around the world. PayU has a presence in SA and in 16 markets across the world. The company offers more than 250 payment options which include credit cards, bank transfers, cash payments e-wallets and more.

Computop's Paygate is a payment card industry certified payment platform that provides multichannel retailers, banks and other industries with secure payment solutions and efficient fraud prevention for international markets.

With this partnership, PayU's solution will be integrated into Computop Paygate, enabling Paygate customers to extend their reach into new countries.

"In order to efficiently and cost-effectively capitalise on the myriad of opportunities in emerging markets, retailers require the ability to successfully process payments online and offer payment solutions that match consumer behaviours in each of these markets," says Mark van der Sluis, director partnerships at PayU.

"We enable more than 160 000 companies around the world to do just that. We are excited that through our partnership with Computop, Paygate customers are now able to offer all of the payment options that consumers in these rapidly growing regions desire, while benefiting from the local support and deep knowledge we offer along with the security and fraud prevention they trust from Paygate."

According Computop, e-commerce in developing economies is growing twice as fast as in most developed markets. This partnership will assist retailers to capitalise on these growth opportunities and expand their online and mobile business into multiple regions, which include India, Latin America, Central and Eastern Europe, Russia and Africa.

Around 83% of consumers in Africa plan to conduct mobile commerce in the next 12 months, and the continent is expecting far greater GDP growth compared to established markets. Nigeria is growing at 2.8% compared to Europe's 1.6%, says the payment service provider.

Andre Malinowski, head of International Business at Computop, says retailers need only to connect to Computop Paygate once to be able to have access to the markets offered by PayU. It does not require separate integrations to conduct business online in these markets.

"Through our partnership with PayU, we are able to offer our customers the opportunity to expand further into new, emerging markets by offering the payment options that consumers in these markets prefer and trust. To be successful globally, the payment solutions that retailers offer need to address the specific needs of local consumers in their target markets. We have a long, established track record of helping retailers successfully grow their businesses in Europe, North America and China," he points out.

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