PayU teams up with Silverflow to support PSPs with card acquiring process

By Megha Bhattacharya

FinTech PayU today announced a partnership with cloud-based payments processing startup, Silverflow in a bid to offer Payment Service Providers (PSPs) globally with a new card acquiring process. PayU will combine its acquiring capabilities with Silverflow to transform processing and settlement within the card acquiring process.

Mario Shiliashki, CEO of Global Payments Organisation at PayU, said, “We’re excited to be partnering with Silverflow and their unique solution. By combining their offering with our deep expertise and experience in the domain as well as our state of the art acquiring platform and its capabilities, the combined product is uniquely positioned in the market to enhance and even replace PSP legacy systems and make them more suitable to the needs of today’s data-driven world.”

Silverflow’s platform will enable PSPs to instantly add new functionality, streamline quality data flows and significantly reduce costs. This will help in reducing the complexity and cost of managing a network of card processing solutions. PayU’s unique compliance expertise and Acquiring Licences streamline the process further, saving valuable time and resources for PSPs.

Anne Willem de Vries, Co-founder and CEO of Silverflow, said, “Today’s card payment infrastructure is based on 30 to 40-year old technology which hasn’t evolved with the payments landscape. Partnering with PayU, we have the potential to change this. PayU’s global connections and experience with Acquiring Licenses coupled with our cloud-native platform, we can make a demonstrable difference; reducing the time, money and resource the current card processing technology requires. We ultimately believe our platform will facilitate more innovation for the whole card payments system.”