PayU, backed by Naspers, has partnered with Amazon Pay Later to provide Indian shoppers with instant digital credit access. Through this partnership, Amazon Pay Later is now integrated into PayU’s checkout system, allowing online merchants to offer customers an instant credit line, which is expected to boost business revenues.
Key Highlights:
- Partnership Integration: Amazon Pay Later is incorporated into PayU’s infrastructure, enabling merchants to offer instant credit during checkout.
- Benefits for Merchants: The partnership is set to improve merchant outcomes by providing a seamless payment experience that encourages sales.
- Offers Engine Platform: PayU will also feature Amazon Pay Later on its offers engine, allowing merchants to create customized discounts across payment modes.
- Regulatory Approval: Recently, PayU received in-principle approval from the RBI to operate as a payment aggregator, allowing it to onboard new merchants.
- Revenue Growth: PayU’s India revenue rose by 11% in FY 2024, reaching $444 million, with payment services contributing significantly.
In addition, Amazon is reportedly exploring the possibility of spinning off its payments arm, Amazon Pay, into a standalone app to compete with major players like PhonePe and Google Pay.