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PayU expands to Israel through ZOOZ

PayU, the leading financial services provider in global growth markets, announced the acquisition of ZOOZ, the payment technology platform that operates in Israel. The transaction supports the continued expansion of PayU in emerging markets and targets the 994 billion USD opportunity for cross-border payments.

2018-07-24 16:00:58

The value of the ZOOZ acquisition is undisclosed, but it brings the total amount of investments and PayU's global fintech purchases to over 350 million USD since the company began a series of global strategic moves in 2016 to open access to financial services. "The acquisition comes after a productive partnership between PayU and ZOOZ, which has already benefited traders selling their products in Romania.

Closer cooperation will help improve the PayU Hub and will continue to support online stores that want to expand in Romania and beyond the country," says Marius Costin, country manager of PayU Romania.

The ZOOZ and PayU teams will work together to create the world's most important global payment infrastructure for the future. As part of this vision, they will develop the ‘Payment Platform', a modular and highly flexible payment platform that can support the evolution of online commerce and the expanding needs of the payment industry. The first features include fraud management and real-time reporting or smart routing to further help develop global merchants.



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