IndusInd Bank has partnered with PayU for redefining the digital experience for Indian consumers. This will bring the entire range of consumer banking products online and power them via payment innovations and online eco-systems by PayU. The association is going to lead to a shift in the way banking and payments are done in India. It will also bridge the gap between conventional banking world and the new age online payment systems.
Elaborating further, the Co-founder of PayU India, Shailaz Nag, COO stated,“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.”
The collaboration appear to be very promising as it brings along a wealth of opportunities. It also allows for the creation of co-branded digital consumer banking products for revolutionising the way digital banking and payments have transformed till now. The integration is going to carry InduSind Bank’s ‘OntheGo’ digital banking proposition to the next level via PayU’s advanced technologies including One Tap, express checkout browser etc. and is also going to attract new customers across demographies.
InduSind Bank as well as PayU have signed an MoU that will cover this joint strategic vision, Announcements regarding the new products and services under this partnership is going to be done in the next 4-6 months.