PayU teamed up with mobile-first blockchain ecosystem

This integration would allow almost half a million of PayU’s merchants to accept Celo’s stablecoin, cUSD

PayU

PayU teamed up with mobile-first blockchain ecosystem. Source: shutterstock.com

PayU has announced its collaboration with Celo, an open-source blockchain ecosystem focused on making DeFi accessible to anyone with a smartphone.

In addition to a purchase of CELO, PayU has partnered with payment infrastructure company First DAG and Celo’s Alliance For Prosperity to offer stablecoin payments.

According to the press release, the move will open the doors for people in emerging markets who are underserved by traditional financial institutions to easily pay for goods at participating merchants.

This move aligns with our vision of a world without financial borders where everyone can prosper. We strive to equip merchants and their customers with the latest payments solutions and this drive has led us to invest in CELO and purchase tokens, in addition to integrating the stablecoin offering for our clients and partners. As digital transactions become the norm, it is important that we equip merchants and customers with the latest payments solutions. Working with First DAG and Celo to offer a new payment option creates new opportunities for e-commerce merchants and creators, and will open new doors for users to transact freely
Mario Shiliashki, CEO of PayU Global Payments Organisation

Using First DAG’s platform, PayU’s merchants can accept stablecoin payments without integrating additional blockchain components. First DAG’s payment platform manages the processing rail and custodial wallet in the background, so merchants can integrate stablecoins with no additional setup.

We’ve reported that Shopify partnered largest independent Customer Data Platform.

SEE ALSO: