PagosOnLine

PagosOnLine established itself as a significant player in the Colombian e-commerce landscape, specializing in online payment processing and fraud prevention. The company was founded in 2002 by José Fernando Vélez, a systems engineer from Universidad EAFIT. Before venturing into entrepreneurship, Vélez accumulated experience in the technology sector in the United States, which provided him with the insights to identify the nascent opportunity for online payments in Latin America upon his return to Colombia.

The firm provided a payment gateway solution that enabled businesses of all sizes, from small enterprises to large corporations, to accept electronic payments for goods and services. Its platform was designed to offer a secure and reliable way for customers to make purchases online, addressing the critical need for trust in digital transactions. The business model centered on transaction fees, charging a commission for each payment processed through its system. A key differentiator for PagosOnLine was its advanced anti-fraud technology, which was a critical component of its service offering, given the security concerns prevalent in the early days of e-commerce.

After a decade of operation and growth, PagosOnLine captured the attention of the international market. In 2013, the company was acquired by the South African multinational, Naspers, and subsequently became part of its PayU division. This acquisition marked a major milestone, integrating PagosOnLine's local expertise and client base into PayU's global payment services network. Following the acquisition, the PagosOnLine brand was gradually transitioned to PayU Latam, expanding its reach and service capabilities across the region.

Keywords: payment gateway, e-commerce, fraud prevention, online payments, transaction processing, fintech, Colombia, PayU, electronic payments, payment solutions