PayU acquires Ding payment platform

By on April 6, 2022 0

Online payment solution provider PayU has agreed to acquire Tecnipagos SA, which operates as a Ding electronic deposits and payments platform, from CredibanCo, expanding PayU’s reach across Colombia and giving it a presence in more than 50 countries around the world.

The acquisition of PayU is subject to the approval of “competent Colombian financial oversight”, among other customary conditions, according to a joint press release on Wednesday, April 6. Spokespersons for both companies say the deal is part of a commitment to support MSMEs and SMEs across Colombia.

“PayU is a company that has accompanied the evolution of online payments in Colombia and is now looking to expand its service offering to increase financial inclusion for small and medium-sized businesses in the country,” said Francisco León, CEO of PayU for Latin America, in the company’s press release.

“This acquisition is part of our growth plan, aimed at meeting the ongoing challenges that a dynamic market with enormous opportunities demands of us,” he said.

The agreement “reflects PayU’s desire to build valuable Internet businesses for merchants and consumers that provide products and services that millions of people use in their daily lives,” said Mario Shiliashki, the division’s global CEO. payments from PayU, in the joint press release. “Payments and fintech is a core segment for PayU, and Colombia is our most important hub in Latin America.”

Related: FinTech PayU deploys credit payments in Romania

In February, PayU launched two credit solutions for Romanian shoppers, with Bucharest-based online retailer eMAG being the first partner to offer customers the option of deferring a payment or paying in four installments across all product categories. via PayU’s buy now, pay later (BNPL), either on its own site or for products sold on the eMAG Marketplace.



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