The platform provides single API integration functionalities for cross-border commerce payments. Merchants can have access to 2.3 billion potential new customers in markets across Asia, Central and Eastern Europe, Middle East, India, Africa and Latin America.
The platform’s architecture enables integration with PayU’s regional and local payments processors. Furthermore, through PayU Hub, merchants will be able to accept a wider variety of payment methods, which will increase their card approval rates.
According to the company’s CCO, the cross-border market is expected to grow from USD401 billion in 2016 to USD994 billion in 2020, Asia and Latin America driving two thirds of this growth.
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