Payments

PayU receives patent for payments routing and approval tech

December 14, 2021

PayU, the fintech and e-payments arm of Prosus, has received a patent for its payments routing and approval technology. With this patent, PayU aims to position itself as a cutting-edge digital payments platform, according to a press release.

With this technology, merchants can route payments based on the credit card issuer, the geographic area where the payment was made and other configurations. This smart routing engine provides more than 100 configurations to meet merchants' needs.

"PayU has set out to create the most cutting-edge solutions for payment optimization and performance. Our patented routing engine brings together top innovation that allows merchants to enjoy the highest approval rates thanks to an intelligent routing mechanism that gives merchants utmost control and flexibility to adapt their payment stack to their dynamic needs," Ronen Morecki, CTO, PayU, said in the release.