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PayU GPO partners with 4fund.com

Tuesday 29 August 2023 15:21 CET | News

Payment service provider PayU GPO has announced a strategic partnership with 4fund.com as the latter’s payment operator within the EU. 

The 4fund.com platform is available to EU users, who can both donate or initiate their own fundraisers, allowing individuals and organisations to raise funds for charity, business projects, and life events. The new platform is part of Zrzutka.pl, a Polish crowdfunding and licenced payment processor, which will allow 4fund.com to monitor all financial operations independently, including Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. Through this, the need for third parties is eliminated, as well as the use of the platform is free of charge for both the online collection’s organisers and donors. 

Payment service provider PayU GPO has announced a strategic partnership with 4fund.com as the latter’s payment operator within the EU.

 

More information about the partnership

PayU GPO will guarantee payment and withdrawal security, offering 3DS authentication and PCI DSS Level 1 compliance. After the conclusion of a fundraiser, withdrawals can be seamlessly processed under the payment institution licence. Moreover, by integrating PayU GPO’s payment platform, 4fund.com has made donations and withdrawals more easily accessible and secure for all users. Transfers of funds to a Mastercard or Visa card can be requested at any time and the funds will be available immediately, including on weekends.

Officials from PayU GPO have stated that during their five-year collaboration with Zrzutka.pl, they have seen the platform’s evolution and growing popularity of crowdfunding platforms in Europe, increasing the potential of 4fund.com to have an impact on the market. Moreover, the cross-border capabilities of PayU GPO will also aid in the development of the platform.

4fund.com also provides several payment methods, including Apple Pay, Google Pay, and card payments. Donations can be made from abroad, regardless of currency, as the funds are automatically converted by the bank and will go to the fundraiser in Euros. 

Crowdfunding market growth

According to Mordor’s analysis, the crowdfunding market size is expected to reach USD 2.69 billion in 2028, compared to USD 1.30 billion in 2023, with a CAGR of 15.70% during the forecast period. Recently, crowdfunding has been seen as an opportunity for entrepreneurs and startups that encounter challenges in obtaining funding from traditional methods.

Moreover, more than USD 215 million was invested in startups on equity crowdfunding platforms by the end of May 2023, an increase from USD 200 million in the same period of last year, as per Aurora Project’s statistics.

The COVID-19 pandemic accelerated the development of crowdfunding, as entrepreneurs were faced with challenges when in need of raising money to fulfil their objectives. The European crowdfunding market is expected to increase, as governments set rules and regulations for the model. Allegedly, the EU nations are also going to impose laws that allow crowdfunding sites to operate, as technology advancements and surging businesses in Europe have established new opportunities in real estate, banking, and other industries. 

About PayU GPO

At the beginning of August 2023, fintech company Rapyd acquired PayU GPO to accelerate its expansion across emerging markets in Central and Eastern Europe, as well as Latin America. Through this, Rapyd’s objective is to improve its services and expedite its expansion in multiple areas globally.

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Keywords: partnership, crowdfunding, AML, KYC, online payments
Categories: Payments & Commerce
Companies: PayU
Countries: Europe
This article is part of category

Payments & Commerce

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