Payment service providers, Computop and PayU, have announced a partnership that provides retailers with payment products for high-growth markets worldwide such as India, Latin America, Central and Eastern Europe, Russia and Africa, according to a joint press release.

"In order to efficiently and cost-effectively capitalize on the myriad of opportunities in emerging markets, retailers require the ability to successfully process payments online and offer payment solutions that match consumer behaviors in each of these markets," said Mark van der Sluis, director of partnerships for PayU. "We enable more than 160,000 companies around the world to do just that. We are excited that through our partnership with Computop, Paygate customers are now able to offer all of the payment options that consumers in these rapidly growing regions desire, while benefiting from the local support and deep knowledge we offer along with the security and fraud prevention they trust from Paygate."

PayU has a presence in 16 markets across the world. The company offers more than 250 payment options relevant to these markets and their collective consumer base of more than 2.3 billion people, including credit cards, bank transfers, cash payments and e-wallets, according to the announcement.

Computop’s Paygate is a PCI-certified payment platform that provides multi-channel retailers, banks and other industries with secure payment solutions and efficient fraud prevention for international markets. With this partnership, PayU's solution will be integrated into Computop Paygate, enabling Paygate customers to extend their reach into new countries.

"To be successful globally, the payment solutions that retailers offer need to address the specific needs of local consumers in their target markets," said Andre Malinowski, head of International Business at Computop. "We have a long, established track record of helping retailers successfully grow their businesses in Europe, North America and China. Through our partnership with PayU, we are able to offer our customers the opportunity to expand further into new, emerging markets by offering the payment options that consumers in these markets prefer and trust. Computop Paygate now provides retailers access to over 250 secure payment methods and acquirers worldwide, in addition to top-notch fraud prevention functionality, to safely conduct business on a truly global scale."