With the inevitable “new normal” times of new challenges and opportunities come; That is why at PayU we want to share with our clients, allies, businessmen and the community, a holistic view of the impact that the COVID-19 pandemic has had on electronic commerce in Latin America.
In the first seven months of 2020, PayU processed more than 120 million transactions in more than 25 thousand merchants in addition to having around 21 million buyers, who have found in PayU security and confidence when processing their different payments.
In recent months and due to the state of emergency, the economic environment faced great changes in consumer habits, one of them was a strong migration to electronic commerce, where we evidenced a very positive outlook, thousands of users, both buyers and merchants, have used this channel and have assumed it as a convenient, safe and reliable form of business continuity. At PayU we want to continue contributing our quota to the economic reactivation and together with our businesses continue to build a value offering that helps the rapid recovery of the entire region
Buyers are, without a doubt, the most important asset for any type of company or business. It is a fact that in their hands is the success or failure of the sales, and therefore also the possibility of a future operation. The current pandemic has transformed consumer habits, a transformation that we have seen reflected in the increase in buyers shown by our various clients. These have gone from having 5.1 million monthly buyers on average (February to March 2020 - before the pandemic), to a total of 8.9 million in the month of July.
Comparing this behavior with the first 7 months of 2019, we find that buyers, transactions and sales had growth of over 50% (See graph). This conduct is evidence and testament to the trust that PayU has managed to maintain and cultivate between businesses and buyers.
The growth of our buyers reflects the growth in transactions and sales of our stores.
At PayU we understand the economic impact that the current health crisis has had on community businesses, as well as small and medium businesses. We understand the profound transformation seen in each business and its way of selling, as well as the evolution of consumer habits. Our endeavor is to support this transformation towards increasingly positive and successful commercial modalities, accompanying bakeries, beauty salons, small fashion and footwear companies, and all those local initiatives that generate employment.
We know that these business groups are the engine of the region’s economy and that is why, at present, we bring together in our team more than 20 thousand SMB businesses, which have contributed with sales growth of over 60% compared to last year.
PayU Days is an initiative that will allow you to find everything you are looking for at the best price and without having to leave home!
Discounts on the best brands with just one click. PayU Days Peru, was held from July 29 to August 5, 2020. In a few days PayU Days will arrive to Colombia from September 10 to 16. Write to us at firstname.lastname@example.org
PayU launched its ‘Together We Are Stronger’ program to support companies to innovate and grow during this crisis! Reduction in e-commerce fees, benefits for foundations leading the fight, collective collection campaigns and more were given to several entrepreneurs. To learn more about these benefits.
Support your favorite artists in the fight against COVID-19! PayU joined Spotify in the new Spotify for Artists feature. Come and learn more about this exciting initiative!
This PayU initiative seeks to connect our network of allies with our businesses. We seek to promote mutual aid in the ecosystem.
We know that it has not been an easy time for many companies, that is why we have decided to support more than 100 MSMEs with a 0% rate in Visa payment methods and digital visibility.
This app allows you to increase the sales of your business in person or using social networks, sending a simple link through your cell phone.