PayU Group boosts share capital of Romanian branch

PayU Group, part of international media group Naspers, decided to increase the share capital of the company in Romania, from RON 100,000 (EUR 22,000) to RON 1.2 million (approximately 272,000).

This “prepares the ground for a different and innovating strategic business which will bring on the local market new experiences in online payment for products and services,” according to Cristian Herghelegiu, Country Manager for PayU operations in Romania.

Online stores in Romania sold via PayU in the first quarter of 2012 over EUR 40 million (EUR 9 million), posting a growth of 34 percent compared to the similar period last year.

In the CEE, PayU Group has branches in Poland, the Czech Republic, Hungary, Turkey, Ukraine and Russia.

Otilia Haraga

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