The two companies will work together to create the leading, global standard payments infrastructure of the future. As part of this vision they will build a modular and flexible ‘Payment OS platform’ that can support evolving merchant and broader payment industry needs. The platform’s expected features include fraud management and real time reporting or smart routing, to aid global merchant growth.
The deal follows a recent partnership which gave PayU merchants such as access to 2.3 billion new customers across high growth markets via the ZOOZ-designed PayU Hub platform. It leverages PayU’s payments infrastructure and ZOOZ’s technology to open up access to new markets for merchants with global aspirations and sets a new standard for payments across borders.
The acquisition is for an undisclosed amount and is due to close in the following months of 2018.
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