In an exclusive interview with Mint Magazine, Laurent le Moal, Global CEO of PayU, shares the company's plans to build a data-based platform and digital ecosystem in India, partnering with a wide range of stakeholders to provide payments, credit, and digitally-led financial services. The interview is set against the backdrop of the rapid growth of digital payments in India under the government's policy of promoting a cashless economy.Laurent also talks about PayU's global footprint, the proliferation of digital services and about Lazypay. :- www.deekpay.com

In an exclusive interview with Mint Magazine, Laurent le Moal, Global CEO of PayU, shares the company's plans to build a data-based platform and digital ecosystem in India, partnering with a wide range of stakeholders to provide payments, credit, and digitally-led financial services. The interview is set against the backdrop of the rapid growth of digital payments in India under the government's policy of promoting a cashless economy.Laurent also talks about PayU's global footprint, the proliferation of digital services and about Lazypay.

"We are building an ecosystem, which in our context means payments, credit and digital-led financial services. This system consists of a group of providers working together in different forms to fulfil the needs of consumers and merchants in these three areas. It's not something we do alone; we work closely with banks, other financial institutions, fintechs and other partners to create this ecosystem. We're just coordinating it all," Laurent le Moal said when asked about PayU's future plans.

"To create a platform, we have to be open from the start. That's easier said than done. But that's the way we think about credit platforms. Any large wallet in India, we are happy to be their credit platform. When building an ecosystem, we also need to think around the consumer. Consumers have different payment providers for different needs - wallets, banks, apps for investing in mutual funds and so on. They present themselves differently to each provider. By working with different providers, we want to give them access to our platform, which has a lot of consumers, merchants and their data, and vice versa. We have access to their data as well, which gives us a specific perspective on the consumer to round out the whole picture. The more I know about you and your needs and wants, the better I can improve my offerings and develop new ones that fit your needs. If we have this data, we can customise products for consumers and accelerate innovation. This will also drive financial inclusion. Data can take the risk of providing credit and financial services to populations that banks can't serve because they can't manage those risks. One way to do this is to make small investments in partnerships with different providers. That's what we're starting to do now to accelerate the ecosystem," he added.

To read Laurent le Moal's full interview in Mint magazine click here. With over 450,000 merchants, PayU is India's leading full-service payment solution. Now enjoy the best payment gateway experience and grow your business with ease.