Insights

Mastercard Backs PayU's Launch of New Cross-Border Payment Solutions

Pat Crawley
Pat Crawley
23 Min Read
mastercard-backs-payu's-launch-of-new-cross-border-payment-solutions

Friday, 30/08/2024 | 13:45 GMT by Jared Kirui

  • This collaboration is part of PayU’s recent partnerships involving Visa and Mastercard to facilitate card tokenization.
  • PayU has also integrated Amazon Pay Later into its checkout system to facilitate online merchants to offer instant credit options.

Mastercard

Netherlands-based payment service provider for online merchants PayU has teamed up with Mastercard to introduce new cross-border issuer authentication solutions. The new service promises to enhance global payments by offering merchants, issuers, and consumers a better payment experience across multiple markets.

According to a report by Inc42, PayU introduced these solutions at the Global Fintech Festival 2024, highlighting a focus on simplicity, convenience, and security for all stakeholders in the payments ecosystem.

Enhancing Cross-Border Transactions

The newly launched cross-border issuer authentication solution is designed to allow issuers to instantly connect to an authentication platform. This enables them to identify and authorize non-3D secure international e-commerce payments.

The system also enhances fraud detection, ensuring compliance with global regulatory standards. PayU’s solution promises to improve the overall security and efficiency of international transactions, benefiting merchants by reducing the complexities and risks associated with cross-border payments.

PayU’s collaboration with Mastercard is part of a broader strategy to enhance its digital payment platform through strategic partnerships. Earlier this week, PayU rolled out 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 aims to increase the security and convenience of online card transactions, further solidifying PayU’s position in the global payments landscape.

Amazon Pay Later

Additionally, PayU has integrated Amazon Pay Later into its checkout infrastructure to enable online merchants to offer instant, flexible credit options to their customers. As PayU continues to expand its global footprint, the company is reportedly exploring options for a public listing in India.

Recently, Mastercard unveiled a new payment passkey service, promising to secure online shopping. According to the company, this offering will first be piloted in India in collaboration with major payment players, including Juspay, Razorpay, and PayU.

Elsewhere, Ecommpay teamed up with Mastercard last month to integrate the Click to Pay solution across the UK and Europe. This partnership aims to offer merchants and consumers a better payment experience by mitigating fraud and improving transaction approval rates.

Click to Pay reportedly eliminates the need for passwords and manual card entry by utilizing user recognition, network tokenization, and global interoperable standards. The partnership with Ecommpay seeks to improve the guest checkout process by allowing customers to complete purchases without being redirected or manually entering card details.

Netherlands-based payment service provider for online merchants PayU has teamed up with Mastercard to introduce new cross-border issuer authentication solutions. The new service promises to enhance global payments by offering merchants, issuers, and consumers a better payment experience across multiple markets.

According to a report by Inc42, PayU introduced these solutions at the Global Fintech Festival 2024, highlighting a focus on simplicity, convenience, and security for all stakeholders in the payments ecosystem.

Enhancing Cross-Border Transactions

The newly launched cross-border issuer authentication solution is designed to allow issuers to instantly connect to an authentication platform. This enables them to identify and authorize non-3D secure international e-commerce payments.

The system also enhances fraud detection, ensuring compliance with global regulatory standards. PayU’s solution promises to improve the overall security and efficiency of international transactions, benefiting merchants by reducing the complexities and risks associated with cross-border payments.

PayU’s collaboration with Mastercard is part of a broader strategy to enhance its digital payment platform through strategic partnerships. Earlier this week, PayU rolled out 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 aims to increase the security and convenience of online card transactions, further solidifying PayU’s position in the global payments landscape.

Amazon Pay Later

Additionally, PayU has integrated Amazon Pay Later into its checkout infrastructure to enable online merchants to offer instant, flexible credit options to their customers. As PayU continues to expand its global footprint, the company is reportedly exploring options for a public listing in India.

Recently, Mastercard unveiled a new payment passkey service, promising to secure online shopping. According to the company, this offering will first be piloted in India in collaboration with major payment players, including Juspay, Razorpay, and PayU.

Elsewhere, Ecommpay teamed up with Mastercard last month to integrate the Click to Pay solution across the UK and Europe. This partnership aims to offer merchants and consumers a better payment experience by mitigating fraud and improving transaction approval rates.

Click to Pay reportedly eliminates the need for passwords and manual card entry by utilizing user recognition, network tokenization, and global interoperable standards. The partnership with Ecommpay seeks to improve the guest checkout process by allowing customers to complete purchases without being redirected or manually entering card details.

Jared Kirui

  • 1184 Articles
  • 15 Followers

Jared is an experienced financial journalist passionate about all things forex and CFDs.

  • 1184 Articles
  • 15 Followers

Finance Magnates Daily Update

Get all the top financial news delivered straight to your inbox. Stay informed, stay ahead.

Keep Reading

More from the Author

FinTech

Elina Pedersen, CRO at Your Bourse, on prop trading

Elina Pedersen, CRO at Your Bourse, on prop trading

Elina Pedersen, CRO at Your Bourse, on prop trading

Elina Pedersen, CRO at Your Bourse, on prop trading

Elina Pedersen, CRO at Your Bourse, shares her views on prop trading at FMPS:24

Elina Pedersen, CRO at Your Bourse, shares her views on prop trading at FMPS:24

Elina Pedersen, CRO at Your Bourse, shares her views on prop trading at FMPS:24

Elina Pedersen, CRO at Your Bourse, shares her views on prop trading at FMPS:24

More Videos

  • Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, Founder of Traderflow, at FMPS:24

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

    Anthony Darvall, the Founder of Traderflow, on speaking on “Trading with AI: CoPilots, Not Advisors”

  • Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, at FMPS:24

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

    Laura Dinneen, Head of Product Marketing at Zodia Custody, on the panel “Digital Assets & Tradfi: An Evolving Market Structure”

  • TradingView’s Sam Grecner at FMPS:24

    TradingView’s Sam Grecner at FMPS:24

    TradingView’s Sam Grecner at FMPS:24

    TradingView’s Sam Grecner at FMPS:24

    TradingView’s Sam Grecner at FMPS:24

    TradingView’s Sam Grecner at FMPS:24

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

    Sam Grecner, Director of Growth (Australia) at TradingView, speaking on the panel “Understanding APAC Markets: Partnerships, Culture, Retention”

  • ASIC’s Rhys Bollen at FMPS:24

    ASIC’s Rhys Bollen at FMPS:24

    ASIC’s Rhys Bollen at FMPS:24

    ASIC’s Rhys Bollen at FMPS:24

    ASIC’s Rhys Bollen at FMPS:24

    ASIC’s Rhys Bollen at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

    Rhys Bollen, Senior Executive Leader of Digital Assets at ASIC sharing his views at FMPS:24

You Might Also Like

Stripe and FreedomPay Collaborate for Enterprise Solutions over 1,000 POS Systems

Former Ticmill and INFINOX Compliance Officer Launches Own FX Company

Cybersecurity Accounts for 63% of Fintech Growth, Study Finds

Cinkciarz.pl Files 1.5 Billion Suit against Polish Banks amid License Row

Revolut Urges Meta to Compensate Fraud Victims on Its Social Media Platforms: Report

TAGGED:
Share This Article
Leave a comment

New Releases

- Advertisement -
Ad image

Trending Stories