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

Matthias brings extensive knowledge of business development and partnerships to PayU. He joins the company having spent 12 years with PayPal, latterly as PayPal’s Senior Director of Strategic Partnerships & Business Development EMEA. Prior to that, Matthias worked for Lycos Europe and Bertelsmann. 

In his role as PayU CCO, Matthias will be based in Germany, responsible for leading PayU’s global sales and managing its business development and strategic partnerships. In addition, he will help PayU expand its credit strategy across its key markets. He will act as a sponsor for the company’s Global Layer initiative, which will allow global merchants to serve new customers with next generation API technology.

PayU global CEO, Laurent le Moal said: “Matthias’ experience leading successful business development and partnership teams makes him a great fit for PayU. His understanding of the global payments and fintech industry is similarly impressive and we’re delighted to welcome him to the team.”

Commenting on his appointment, Matthias said: “I’ve always admired the entrepreneurial mindset of the PayU team and the way they approach innovation in high growth global markets. Nobody is more local on a global scale. I’m looking forward to helping PayU continue to grow its presence in the payments industry and take advantage of new opportunities”. 

PayU operates in 16 high growth markets and is part of Naspers, a global Internet and entertainment group and one of the largest technology investors in the world.