PayU has announced the acquisition of Israeli payment technology provider ZOOZ, supporting ongoing expansion into high-growth markets.
The move brings PayU’s total sum of investments and acquisitions to more than $350 million since it began a series of strategic moves across the globe in 2016.
The ZOOZ and PayU teams will work together to build a flexible ‘Payment OS platform’ that can support evolving merchant and broader payment industry needs. The platform’s features include fraud management and real-time reporting or smart routing, to better aid global merchant growth.
The deal follows a partnership which gave PayU merchants such as Gett and Kiwi.com access to 2.3 billion new customers across high growth markets via the ZOOZ-designed PayU Hub platform.
Laurent le Moal, chief executive of PayU, said: “By working together to create the first ‘Payment OS’ platform we will advance PayU’s mission to help build a world without financial borders.”
Oren Levy, co-founder and chief executive of ZOOZ, added: “The unique contribution we bring to PayU is an advanced technological layer which not only helps merchants worldwide to upscale their operations and provide a better.”
Latest News
-
Gemini to cut quarter of workforce and exit UK, EU and Australia as crypto slump forces retrenchment
-
Bank ABC’s mobile-only ila bank migrates to core banking platform
-
Visa launches platform to accelerate small business growth in US
-
NatWest to expand Accelerator programme to 50,000 members in 2026
-
BBVA joins European stablecoin coalition
-
eToro partners with Amundi to launch equity portfolio with exposure to ‘megatrends’
Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories