With the goal of improving payment choices for Peruvian merchants, this action coincides with the introduction of a new suite of payment solutions and integrations, including Yape, Pago Effectivo QR, and Shopify.

The official press release states that a high rate of inflation in the market, difficult regulatory procedures, and restricted access to inexpensive finance are just a few of the challenges small and medium-sized businesses (SMEs) in Peru face as they try to grow. As a result, e-commerce has become an essential channel for companies looking to increase sales and stay competitive, providing a change from antiquated sales models to effective digital platforms.
 

How does the tool for self-onboarding operate?

With the help of PayU GPO's self-onboarding technology, SMEs will be able to enter over 50 high-growth Latin American markets more quickly. Essentially, by offering necessary digital tools, the solution seeks to promote newly founded enterprises' growth, streamline processes, and remove financial obstacles. With a faster self-onboarding procedure, merchants can quickly open accounts and start taking payments, opening up new worldwide sales channels for Peru's large SME sector, which is made up of over 850,000 enterprises.

PayU GPO representatives stressed in the official press release the company's commitment to enabling small companies and entrepreneurs. They also highlighted the relevance of this update in Peru as evidence of their commitment to promoting local progress and inclusion in the digital economy.

PayU GPO has launched Yape and Pago Efectivo QR as payment options designed especially for the Peruvian market in addition to self-onboarding. Conversion rates are anticipated to rise with localised payment choices, supporting Peru's continuous digital transformation initiatives.

In addition, PayU GPO has collaborated with Shopify, a platform for online commerce, to enhance Latin America's online purchasing experience. More than 2,000 firms could profit from this partnership by receiving e-commerce solutions through a single, managed integration. Businesses can test payments, lower abandonment rates, and handle refunds with ease thanks to this cooperation.

PayU Peru representatives discussed how the company's new payment options and e-commerce integrations will play a crucial role in fostering regional growth. PayU GPO aims to equip Latin American merchants with the skills and information they need to overcome economic obstacles and seize new opportunities by promoting inclusion in the digital economy and providing advice and support.