PayU Onboards Former PayPal Senior Director As Chief Commercial Officer

PayU, the global online payment service provider, has announced the appointment of Matthias Setzer as its global Chief Commercial Officer.

Setzer brings extensive knowledge of business development and partnerships to PayU and joins the company after spending 12 years with PayPal, most recently as PayPal’s Senior Director of Strategic Partnerships & Business Development EMEA. Prior to this, Matthias worked for Lycos Europe and Bertelsmann in project management and business development roles.

In his new role Setzer will be based in Germany, responsible for leading PayU’s global sales and managing its business development and strategic partnerships.

In addition, he will be assisting PayU with expanding its credit strategy across its key markets. He will act as a sponsor for the company’s Global Layer initiative, which will enable global merchants to serve new customers with next generation API technology.

Background

PayU currently operates in 16 high growth markets and is part of Naspers, a global internet and entertainment group which is listed on both the Johannesburg and London Stock Exchanges. The service allows users to make a payment online on a computer, tablet, mobile device, e-wallet and offline, providing over 250 payment methods which are designed to make transactions fast, simple and secure.