Online Payments Provider PayU Sees Big Growth

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The Turkish online payments provider PayU has seen growth in each of the 16 markets it operates in, with growth ranging from 40 to 80%. Turkey, Russia, India and Colombia were its top 4 growth markets. PayU has attributed the growth to the rise of affordable smartphones, increased understanding of ecommerce and a growing middle class in its target markets. It has said it intends to continue its monumental growth rate by tackling fraud on its platform, improving the user experience and promoting ecommerce education in its target markets. PayU is used by 10 million buyers and 160,000 merchants across 16 countries and supports 250 different payment methods. 

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