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IndusInd Bank, PayU to Bring Together Conventional and digital banking

IndusInd Bank, PayU to Bring Together Conventional and digital banking
Shailaz Nag, COO and Co-founder, PayU

IndusInd Bank has partnered with online payment solution leader PayU to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU.

This partnership is aimed at bridging the gap between conventional banking world and the new age online payment systems announced the press release.

Elucidating further on the alliance, Shailaz Nag, COO and Co-founder, PayU India, commented, “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.”

“While the country is already witnessing a digital era, this one-of-its-kind step, has all the potential to become another milestone of digital India movement and could firmly establish the financial sector in the next orbit,” added Nag.

Commenting on this announcement, Romesh Sobti, MD & CEO, IndusInd Bank, said, “With digital banking and payments gradually becoming the heart of customer relationships, we are investing to build strategic alliances in the digital world to deliver online banking and payment experiences that are simple, non-intrusive, rich in contextual content, and are truly cross-channel, covering social and commerce platforms. Through this tie-up, the bank’s experience as a leader in shaping financial products through innovative offerings will be leveraged to tap and redefine the rapidly growing digital financial space for both retail and business customers.”

The two partners have signed an MoU covering this joint strategic vision, and announcements about the new products and services under this partnership in will be made in next 4-6 months’ time.

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