PayU GPO doubles down on Peru; accelerates SME growth
PayU GPO, the leading online payment service provider operating in over 50+ emerging markets, today becomes the first Payment Facilitator to offer Peruvian SMEs self-onboarding. Alongside self-onboarding, PayU GPO also launches a new suite of innovative payment solutions and integrations including Yape, Pago Effectivo QR and Shopify, to rapidly expand and diversify payment options for merchants.
SMEs in Peru are facing a plethora of challenges which are inhibiting their growth, including limited access to affordable financing options, complex bureaucratic processes, and a high inflationary market. To navigate these challenges, E-commerce has quickly become important for businesses looking to increase sales and remain competitive. E-commerce has signified a clear shift for SME operators from the traditional sales model to an efficient digital model that provides businesses with an essential tool to compete and thrive in the digital era.
PayU GPO’s new self-onboarding tool will accelerate SMEs’ access to 50+ high-growth markets across Latin America and beyond. The cost-effective payment solution simplifies processes, fosters growth, and removes financial barriers for newly established businesses by giving them the digital tools they need to thrive. The self-onboarding process is easy to use and only takes a few minutes, significantly streamlining account creation for merchants and ensuring they can start accepting payments and growing their businesses without delay. The country’s more than 850,000 SMEs will be able to open a new sales channel on a globally-reaching scale.
Daniel Cohen, CEO, PayU GPO, says, “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.”
Further to the self-onboarding solution, PayU GPO has incorporated Yape and Pago Efectivo QR as payment methods for the Peruvian market. Offering localised payment methods increases conversion rates. As Peru continues to embrace digital transformation, these payment methods play an instrumental role in providing users with a streamlined digital platform to conduct transactions and integrate seamlessly into various payment gateways.
PayU GPO has also integrated commerce platform Shopify to transform online shopping in Latin America. The partnership is set to benefit over 2,000 businesses, providing multiple E-commerce solutions through a single, easy to manage integration. As a result of this alliance, businesses can now conduct payment tests, reduce abandonment rates, and manage refunds seamlessly.
Carlos Lizana Mariátegui, country manager, PayU Peru, comments, “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 E-commerce integrations contribute to our mission of expanding and diversifying payment options for merchants, enabling them to forge stronger connections with their customers.”
These updates for Peru will facilitate greater access to payment solutions for business growth and strengthen PayU GPO’s presence in Latin America. By breaking down the barriers to inclusion in the digital economy, and providing limitless consultancy and support, PayU GPO provides Latin American merchants with the tools and knowledge to navigate economic challenges and seize new opportunities.
