PayU has been at the forefront of the BNPL trend in a variety of markets, offering a range of BNPL payment options via PayU Credit – including installment payments, credit card installments, and credit or cash loans in selected markets – depending on the local market’s requirements and the popularity of the payment method among consumers. Our offer is diversified and relies on both partnerships and direct offerings.
Central and Eastern Europe
Representing a combined consumer population of nearly 60 million people, Poland, Romania, and the Czech Republic are three of Europe’s most compelling growth markets for e-commerce. With offices in all three countries, PayU is deeply rooted in the Central and Eastern European region.
PayU Credit is the biggest online credit broker and distribution platform on the Polish e-commerce scene, facilitating nearly $1 billion in credit volumes processed and over 2,500 merchants using PayU Credit solutions. We’ve partnered with a network of leading consumer finance and BNPL providers to create multiple consumer credit options through a single API.
In the Czech Republic, PayU offers BNPL through an integration with local provider Twisto, which allows merchants to offer the option at checkout. Consumers receive an instant credit decision, and if approved, the order can be paid with a standard grace period of 30 days (extended up to 45 days for Twisto account users). PayU pays out the merchant the next day, and they assume responsibility for collecting payment from customers.
PayU’s innovative BNPL product offering is also available to Romanian shoppers using the eMAG platform. Bucharest-based online retailer eMAG is the first partner to offer its customers the possibility to either postpone a payment or to pay in four installments for all categories of products either in its own offer or for products sold by sellers active on the eMAG Marketplace. This facilitates greater diversity of payment choices and supports eMAG partners to grow their sales.
BNPL services are gaining a lot of traction across Africa driven by the combination of a digitally-savvy population, a mobile-first commercial mentality, and persistently high unbanked populations. BNPL offers merchants an opportunity to reach more population segments, such as the approximately 57% of Africa’s population (95 million people) who don’t have a traditional bank account.
In Africa, PayU can help merchants integrate BNPL through the payment methods offered via our payment gateway. Payflex, the first and largest BNPL player in South Africa, is one of many alternative credit payment methods offered by PayU in Africa, next to other names including Mobicred, Lulalend, and RCS.
Thanks to our partnership with Payflex, consumers in South Africa can now pay in four equal and interest-free installments, creating greater access to funding and autonomy on how consumers pay.
PayU’s recent launch of MoreTyme in partnership with Tyme Bank also allows customers of Tyme Bank to pay in three equal, interest-free installments. The checkout experience is simple, fast and frictionless since consumers don’t need to add their details. All they need to do is scan a QR code with their Tyme Bank app to complete the payment.
In addition to PayU’s payments business in India, we recently consolidated credit operations under our LazyPay brand, a direct consumer lender that offers a range of credit products from BNPL to personal consumer loans.
By introducing the ability to tap into innovative, accessible, and popular payment methods, PayU’s customers can provide a more streamlined and inclusive experience in their online shops.
These solutions were designed to give more consumers the opportunity to participate in e-commerce, while providing both local and global businesses with an opportunity to increase their reach and build customer loyalty.