PayU and Silverflow partner to revolutionise card acquiring process

PayU, a Prosus’ fintech and e-payments business announced a partnership with Silverflow, a cloud-based payments processing startup to provide a new card acquiring process to PSPs (Payment Service Providers) across the world.

Partnership to revolutionise card acquiring process

This partnership combines Silverflow’s direct connection to card networks with PayU’s expansive acquiring capabilities. The partnership will revolutionise processing and settlement within the card acquiring process as well as drive innovation across the payments industry.

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.”

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.”

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Source: PayU and Silverflow partner to revolutionise card acquiring process – UKTN (UK Tech News)