PayU, the fintech and e-payments business of Prosus, has announced that it has tied up with Amsterdam-based Silverflow, a cloud-based payments processing startup, to offer Payment Service Providers (PSPs) a new card acquiring process. This partnership comes after Silverflow’s recent €2.6M Seed funding (Oct 2020).
Anne Willem de Vries, co-founder, and CEO of Silverflow believes, “Today’s card payment infrastructure is based on 30 to 40-year old technology which hasn’t evolved with the payments landscape. Partnering with PayU, we have the potential to change this. PayU’s global connections and experience with Acquiring Licenses coupled with our cloud-native platform, we can make a demonstrable difference; reducing the time, money, and resource the current card processing technology requires.”