In­dusInd-PayU deal gives new-age bank­ing a fil­lip

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In a bid to re­de­fine the dig­i­tal ex­pe­ri­ence for In­dian con­sumers, In­dusInd Bank has part­nered with on­line pay­ment so­lu­tion leader PayU. The bank will bring the full suite of con­sumer bank­ing prod­ucts on­line and pow­er­ing the same through pay­ment in­no­va­tions and on­line ecosys­tems en­abled by PayU.

Com­ment­ing about the as­so­ci­a­tion Shailaz Nag, COO and co-founder, PayU In­dia, said, “The on­line pay­ment and bank­ing sec­tors are go­ing through a tran­si­tion phase across the world. In In­dia, where the de­mog­ra­phy makes it even more chal­leng­ing, the tran­si­tion is at many lay­ers. In­dian con­sumers have ac­cepted on­line pay­ment sys­tems and seam­less modes of on­line pay­ment like Mo­bile wal­let, with open arms. How­ever the trust they have on the In­dian Bank­ing sys­tem in the past few decades, still re­mains un­matched. With this part­ner­ship, we are bring­ing the cut­ting edge on­line pay­ments tech­nol­ogy and a bou­quet of con­ven­tional bank­ing ser­vices to­gether for one of its kind in the his­tory of Dig­i­tal Bank­ing.”

“While the coun­try is al­ready wit­ness­ing a dig­i­tal era, this one-of-its-kind step, has all the po­ten­tial to be­come an­other mile­stone of ‘Dig­i­tal In­dia’ move­ment and could firmly es­tab­lish the fi­nan­cial sec­tor in the next or­bit,” added the PayU In­dia co-Founder.

The two part­ners have signed an MoU cov­er­ing this joint strate­gic vi­sion, and an­nounce­ments about the new prod­ucts and ser­vices un­der this part­ner­ship in will be made in next 4-6 months’ time.

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