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Bucharest
August 11, 2022
BUSINESSBUSINESSCOMPANIESECONOMY

PayU is launching a new way to finance online shopping on the eMAG platform

  • Clients now benefit from additional payment and convenience options
  • New payment options for fast and easy online purchases with your stored card: Buy Now Pay Later- buy now, pay in 30 days with no additional costs; SLICE IT- buy now, pay in four instalments with zero interest.

PayU, a provider of online and fintech payment services in the fast-growing emerging markets, has today announced that a new innovative credit payment solution, developed by PayU, is available for Romanian buyers. The eMAG online retailer is the first partner to offer its customers the opportunity to either postpone a payment or to pay in four instalments for all categories of products either in its own offer or for products sold by sellers active on the eMAG Marketplace.

PayU’s credit solution is available to Romanian shoppers in two separate options: Buy Now, Pay Later (BNPL), where the shopper postpones the payment for 30 days without any additional costs, and payment in four monthly instalments (SLICE IT), where the first instalment is paid at a transaction date and the rest across a three-calendar month period.

The payment methods are currently available in Beta version for eMAG customers with a history of trading and payment.

In order to use these payment methods, customers must save their payment card in their eMAG account and opt for one of the new payment methods upon completion of their purchase at checkout.

By the end of this year, PayU aims to offer these payment methods to all interested eMAG customers, through a simple enrollment and approval process that requires a minimum of information on their behalf. PayU plans to offer this credit payment solution to all its partners in Romania, in due course, , once it will complete the implementation of the pilot project with eMAG.

Elena Gheorghe, Country Manager PayU said: “PayU’s focus has always been on providing merchants and their customers with multiple payment methods to meet their need to have more options for completing an online purchase. In the context of constantly growing number of online consumers, who reached 9 million Romanians in 20211, the launch of a new payment solution that also involves financing is a natural step for PayU. Through the two payment options with credit, which we offer through the eMAG platform, we aim to facilitate access to simple, fast and secure online shopping for all Romanians who do not have immediate possibilities, thus encouraging, once again, local e-commerce.”

The new credit payment solution launched by PayU offers online shoppers in Romania easier access to financing and autonomy in terms of how they pay, making the purchasing process more accessible to them and improving purchasing power.

Martyna Szczepaniak, PayU’s Head of Consumer Credit, EMEA added: “We believe that the PayU credit offering will transform the lives of the Romanian shoppers. The greater accessibility to funds will provide many with the convenience of knowing that they can purchase what they want, when they want it. eMAG was the partner of choice for the pilot phase, due to its skills in ​​technology, its openness to testing and its desire to offer new services to its customers. It is a trusted platform that has years of experience in the retail space, and we look forward to seeing PayU credit products helping supercharge growth even further.”

Tudor Manea, CEO of eMAG said: “We have all experienced at some point times when we needed something badly, but we were short on money, and I am sure we remember how frustrating this may be. With PayU credit offering, eMAG customers no longer have to wait, because now they can buy whatever they want and whenever they want and repay the instalment in a transparent and convenient manner.”

 

 

 

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