IndusInd-PayU deal gives new-age banking a fillip

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.