According to the press release, by combining Silverflow’s direct connection to the card networks with PayU’s expansive acquiring capabilities, the move will revolutionise processing and settlement within the card acquiring process and drive innovation across the wider payments industry. By allowing direct access to card networks through a single API Silverflow’s platform enables PSPs to instantly add new functionality, streamline quality data flows, and significantly reduce costs.
This means PSPs no longer have to connect to acquirers multiple times over, reducing the complexity and cost of managing a network of card processing solutions. Besides, PayU’s compliance expertise and Acquiring Licences streamline the process further, saving valuable time and resources for PSPs.
PSD2 has encouraged many PSPs to look into improving their acquiring capabilities and becoming acquirers themselves to future-proof their businesses. However, PayU’s global expertise combined with Silverflow’s cloud-native platform creates a cheaper, managed service.
Overall, PayU’s partnership with Silverflow indicates their common goal to drive technological innovation in the global payments industry, creating greater transparency, efficiency, and security to benefit merchants and cardholders.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now