June 12 (SeeNews) - Mogo Romania, the fintech financing purchases of used vehicles, said on Monday that it has partnered with the Netherlands-based payment service provider PayU to streamline online loan instalment payments.
Mogo customers will now be able to access the recurring payment option instantly through PayU's platform, the two companies said in a joint press release.
Thus far, 800 Mogo users have activated their debit cards on the PayU platform and enrolled them.
The partnership came in response to the needs of Mogo Romania customers for access to an efficient process through a greater diversity of payment methods, according to the press release.
PayU is a global provider of payment services for companies in over 50 countries, controlled by South Africa-based Prosus technology group.
Mogo was established in 2017 and since has provided financing to over 12,000 customers. The company registered a net loss of 3.61 million lei ($783,830/728,925 euro) in 2022 on a turnover of 2.51 million lei, according to the latest data from the finance ministry.
(1 euro=4.95673 lei)