SUMMARY
- PayU launched a Push Provisioning Platform to facilitate card tokenisation across banks and merchants, enhancing payment security and convenience.
- The announcement is part of PayU’s strategy ahead of its IPO, following integrations with Amazon Pay Later and Blinkit earlier this year.
- PayU India achieved an 11% YoY revenue growth, amounting to $444 million in FY24, signaling strong market performance.
PayU, a leading digital payments company, has launched a new Push Provisioning Platform aimed at enabling seamless card tokenisation between banks and merchants. This innovative platform allows customers to tokenize their credit and debit cards across multiple merchants and outlets directly through their bank’s portal, ensuring a more streamlined and secure payment experience.
The new platform comes as part of a broader series of announcements from PayU ahead of its anticipated IPO. Earlier this year, the company integrated services like Amazon Pay Later and Blinkit into its app, reflecting its ongoing efforts to expand its digital payment solutions portfolio.
PayU India reported an 11% year-on-year (YoY) growth in revenue, reaching $444 million for the fiscal year 2024 (FY24). The revenue increase highlights the company’s continued expansion in the digital payment space, reinforcing its market position ahead of its IPO.
