PayU partners with PayPal to enhance cross border payments for Indian merchants

Current Context: On Tuesday, April 9, 2024, PayU, a leading online payment solutions provider, announced its partnership with the US-based fintech company PayPal.

• The purpose of this partnership is to enhance the cross-border payment experience for Indian merchants by integrating PayPal’s ISU 2.0 API into PayU’s services.
• This integration will provide customers with a variety of payment methods at checkout, including PayPal, PayPal Pay later, and various local Alternative Payment Methods (APMs) from customers outside India.
• The improved merchant onboarding process and a fully integrated payment journey for customers are expected to improve success rates, potentially leading to increased revenue for PayU’s extensive global merchant network.

Question:

Q.1 What is the purpose of the partnership between PayU and PayPal?
a. To enhance the cross-border payment experience for Indian merchants
b. To launch a new digital wallet
c. To create a new cryptocurrency
d. To compete with other payment solutions providers