It is often the case that in certain economical turbulent times, companies often involuntarily suppress the launch of new products and development in the market. At the same time, the same scenario often acts as a springboard to the growth of the company. This is based on the vision and the technology that a company uses to be a game changer in the market.
Considering this, the global payment platform PayU has emerged successful in its journey toward a high-growth market. Mario Shiliashki, the company’s CEO, has reflected on the investments that will act as a game changer on a timeline of three years for its clients.
Engaging in investments that have the nature to change and upgrade constantly might come with a lot of risk in an unsettled time when the world economy is going through considerable amounts of tumult. Most people emerge confused about where to invest in this scenario that is not fixed. This makes people step back and shift their focus on the core and basics of business.
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But PayU, instead of pulling back, moved forward in redefining the local payment methods, strengthening the infrastructure to keep the fees and approval rates optimal. It also focuses on a rapid improvement in monitoring transactions and detecting fraudulent activities, which helps reduce false positives. It thrives to become the most trusted global provider that will offer the best services worldwide.
Shiliashki also reflected on their scheme of going through the yearly planning process. The company centrally focuses on two aspects, one of which is the core business which revolves around the use of investments for the betterment of the data and analytics both inside and out, and on managing fraudulent activities, while on the other hand aspiring for the expansion of new products in new geographies. This might be done through a partnership or organically.
Apart from making its core strong, PayU simultaneously works on improving services. Shiliashki highlighted on the face of BNPL that the company had launched partnerships in various markets that offer credit for more sales. The company has also picked this opportunity to expand its market and target its customers worldwide.
At the same time, Cross-border too is not out of their whiteboard. Talking about the oeuvre of crypto, it is important to find out new connections and leverage them in place of the existing ones that would implement on-the-spot settlements. They are constantly thriving to carry out several experimental operations that would be scaling.
The CEO also reflected on the company’s growth in 2023, extending a global reach to their services and providing merchants with all their desired services on a regional and global basis by using a single integration method to entertain a variety of services.
For this, they will use local experts who will be delving deep into the complexities of the market, including the issues concerning tax and offer relevant solutions. By appointing local experts to the various sectors, the company envisions running a successful eCommerce business, expanding its reach to all parts of the world.
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