Techosystem

PayU launches new service to advance Nigeria’s cashless economy

On 12 December 2017, online payment solution platform, PayU announced the launch of a new service called PayU Receive. The new product, according to the company, will allow businesses in Nigeria to securely request and receive payments directly from their customers without any hassles.

PayU Receive is a payment solution that facilitates business-to-business and business-to-consumer payments via email or SMS. It allows businesses to make use of PayU’s payment services by allowing them to send payment requests via email or SMS to their customers. Customers then have the flexibility of paying via their bank cards or their bank accounts.

This is another way for businesses to receive payment as all they need is their customers’ email address or mobile phone numbers to which a payment link can be sent. They can also send payment reminders to their customers thereby increasing the efficiency of collections on overdue accounts.

“This payment solution aligns with PayU’s experience in over 16 markets globally, including Asia, Central and Eastern Europe, Latin America, Middle East and Africa, where our technological solutions are changing the payment landscape. We hope to empower more business owners in Nigeria with innovations like PayU Receive which helps improve collection of payments from customers both locally and internationally,” said Juliet Nwanguma, Country Manager, PayU Nigeria.

With PayU Receive, merchants can send local and international payment requests via email or SMS for goods and services to their customers, even if they do not have a website.

These payment requests can be branded with the merchant’s company logo, look and feel. In addition, the payment request can be adapted to a merchant’s type of communication like invoices, email quotes, statements etc.

“We believe PayU Receive is an innovative solution which further encourages cashless payments particularly to merchants that take frequent orders from customers. It allows them to accept prepayment of goods and services instead of accepting cash on delivery,” said Nwanguma.

“PayU Receive is our response to numerous enquiries from merchants asking for a convenient, safe and secure way to receive electronic payments from customers without having a website or the need for integration,” Nwanguma concluded.

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