Today, PayU announced the launch of its new Employee Value Proposition (EVP) to deepen the brand’s connection with existing and potential employees and build a more rewarding future for them. PayU’s continued growth necessitated a formalized EVP. The EVP was created to give employees a clearer picture of what the company is prioritizing and what initiatives it is undertaking to improve the employee experience. The EVP is based on three pillars: entrepreneurship, collaboration and innovation, which were defined after interviewing more than 1,000 employees and several focus groups. The essence of these pillars is reflected in PayU’s EVP statement: “We are entrepreneurs transforming financial services through cutting-edge technology.
Priya Cherian, Chief People Officer, PayU, said, “PayU takes great pride in being an employee-centric organization, with our colleagues being at the center of everything we do. Our EVP acts as a promise to existing and potential employees to build a more rewarding future for them by investing in their growth, learning, well-being and overall development. We have articulated our 10 PayU Behaviors as part of our Culture Code to guide our vision of creating a workplace where our employees around the world can grow professionally while creating products that have a lasting positive impact on the community. Entrepreneurship, collaboration and innovation are at the heart of PayU’s culture.” Being a dynamic company, entrepreneurship is and will remain an integral part of PayU’s DNA. PayU India’s vision is to create a comprehensive digital financial services platform to meet the financial needs of merchants, banks and consumers through technology. The company believes in the simple mindset of ownership, beyond just planning and executing an idea, which is important to realizing that vision. In a short period of time, a PayU (Payoneer) employee experiences multiple product lifecycles that have a tremendous positive impact on millions of lives. PayU’s unprecedented growth and ambitious vision make it fertile ground for passionate professionals with entrepreneurial qualities who seek to challenge the status quo and do cutting-edge work that transforms the financial ecosystem.
Collaboration is at the heart of PayU’s rapid growth. This includes cooperation and teamwork between more than 3000 PayUneers of 43 nationalities spread over more than 20 locations. It also encompasses an integrated approach between various cross-functional teams, different group entities such as PayU Payments, PayU Credit and Wibmo in India to co-create products; and PayU beneficiary companies to help leverage business synergies. At PayU, every employee has the opportunity to solve complex problems in all facets of the fintech ecosystem – merchant, consumer and bank – while creating a positive impact on the community, making the journey much more rewarding and fulfilling.
Innovation is at the heart of PayU’s history. PayU operates like multiple start-ups within an organization, constantly branching out into segments beyond payments and building new momentum. A great manifestation of this innovation and scale is the fact that 30% of PayU’s revenue today comes from diversifying PayU’s merchant portfolio, and new segments and products such as financial services, omnichannel, affordability, etc. Innovation is the core force that enables PayU employees to overcome challenges, explore new avenues of impact, and create solutions at scale.
Through its EVP, PayU’s goal is to keep its employees at the center of its operations. This is driven by multiple initiatives such as the launch of PayU Behaviors to foster a One PayU culture, conscious benefits curation to enable PayUneers to be “more with PayU”, “Culture as a Conversation”, as well as carefully designed human resources. policies aimed at providing them with the best opportunities to improve their physical, mental, emotional and financial well-being. These include a hybrid working policy and mandatory leave for a healthy work-life balance; and enhanced medical and term insurance coverage for all employees. PayU also introduced a new rewards and recognition program to create a culture where every employee feels valued and recognized. The company has upgraded its employee referral program, with 3 times the referral bonus to shape “One Policy for One PayU” (for PayU Payments, PayU Credit and Wibmo).
Continuing its commitment to the professional growth of employees, PayU has also implemented robust learning plans, mentorship programs, internal mobility opportunities and access to various development programs. The newly launched PayU University offers PayUneers the opportunity to develop their skills in Payments (Domain), Functional and Leadership.
About PayU India PayU is regulated by the Reserve Bank of India and offers solutions to meet the digital payment needs of Indian merchants. It provides online payment solutions for businesses through local payment methods. PayU also developed LazyPay in 2017, an alternative lending platform to provide credit solutions.
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