Payment service provider PayU's SMB vertical sees 70% jump in revenues

In September last year, PayU agreed to acquire payments gateway BillDesk in an all-cash transaction of $4.7 billion

Powered by over 500,000 small and medium businesses (SMBs) on its platform, payment service provider PayU saw its revenue and transactions from the segment increase 70 per cent and 80 per cent, respectively, in 2021 compared to the previous year. 

“We are looking to onboard 100,000 SMBs on our platform in 2022. At present, we have 500,000-800,000 SMBs. The variance is because an SMB merchant may remain inactive for a while and then return. 

Also, these are seasonal businesses which may sometimes pause and restart after a certain period of time,” says Mohit Gopal, senior vice-president, PayU India.

“When we just compare the