By Emma Ujah, Abuja Bureau Chief

The cashless economic policy of the Central Bank of Nigeria (CBN) has received a boost with the entrance of PayU, a global payment group into the Nigerian market.

The payment gateway,  according to  PayU’s  Country Manager, Ms. Juliet Nwanguma, provides a simple payment processing for Nigerian merchants and consumers.

She said that the company’s strategy “is to look at the needs of merchants in the country and see how to make online payment simple for buyers of their goods.”

Ms. Nwanguma said that PayU’s comparative advantage is based on the technology it provides which enables the operators to develop superior products and innovative payment solutions.

“We have products that make it easy for customers and merchants to come online immediately, we have solutions that make it easy for merchants to receive payments with or without websites.

“PayU” offers simple and secure online payment services to merchants enabling them to accept payments for goods and services using debit and credit cards from their customers and other alternative payment methods as well.

“Our objective is to provide simple and secure online payment solutions to merchants and consumers. This objective is in response to the growing market and regulatory needs to take cash payments online and digitise the economy, whilst at the same time ensuring financial inclusion for all,” she told journalists in Abuja, at the weekend.

According to the Country Manager, PayU is staffed by a strong team of experts who are experienced in the payments solution who look at the needs of the merchants and prepare relevant payments strategy to meet their needs, to enable them concentrate on their core businesses.