South Africa’s PayU launches SME-relevant payment service

Mergers, Acquisitions and Financial Results

South Africa’s online and mobile payment service provider PayU has launched EasyMerchant, a payment solution targeted at enabling small to medium sized enterprises (SMEs) to perform credit card payment transfers.

 EasyMerchant will give SMEs prompt access to online payment services, saving them time in addition to simplifying transactions for e-business operations.

The system also helps in marketing businesses online leading to increase in sales, according to PayU.

PayU’s chief executive Mark Chirnside said startups and SMEs should be aggressive and consider taking their businesses online to benefit from PayU’s EasyMerchant .

“The platform allows one to have an EasyMerchant account which makes e-business simpler, increase sales, cut paperwork and reduce the risk by authorising credit card purchases, processing and deposit into your account. It’s simple,” he said.

According to the 2012 SME report by World Wide Worx, close to 410,000 SMEs in South Africa have a website, with some 63 percent representing active formal SMEs.

Chirnside commented that e-business has sustained more than 150,000 SME business in South Africa and that entrepreneurs are plunging into it “at an alarming rate”.

The Internet is important in searching for a service provider, which makes it impossible for businesses to sell their products and services without it, he said.