Payu India
Prosus plans to list Indian digital payments, lending firm 'PayU' in 2025
PayU has had plans to list since late 2023, at a $5 billion to $7 billion valuation. It recently emerged from a 15-month regulatory ban on enlisting new merchants
 "Prosus plans to list Indian digital payments, lending firm 'PayU' in 2025")
PayU gets RBI's in-principle nod to operate as payment aggregator
Fintech firm PayU has received an in-principle approval from the Reserve Bank to operate as a payment aggregator, the company said on Wednesday. In January 2023, RBI had returned applications of Prosus Group firm PayU and asked it to resubmit them within 120 days. With in-principle approval in place, PayU can now onboard new merchants to provide them digital payment services. "This license is pivotal in our mission to establish a globally renowned digital payment infrastructure rooted in India. Aligned with the government's Digital India initiative and the RBI's forward-thinking regulations, we are dedicated to driving digitisation and financial inclusion, particularly for small merchants," said Anirban Mukherjee, Chief Executive Officer (CEO), PayU.
 "PayU gets RBI's in-principle nod to operate as payment aggregator")
PayU gets RBI's in-principle approval to operate as payment aggregator
The company said it can start onboarding new merchants on its platform with the in-principle approval
 "PayU gets RBI's in-principle approval to operate as payment aggregator")
Prosus-backed PayU's India playbook: Focus driven by fintech opportunity
PayU CEO Anirban Mukherjee said the company was adopting an 'India-centric' approach, which was driven by the inherent advantages the country offered compared to other markets
 "Prosus-backed PayU's India playbook: Focus driven by fintech opportunity")
PayU's PSP revenue up at $211 mn in H1FY24 on growth in existing merchants
The company added that India was one of its largest markets in the PSP business, contributing a share of around 48 per cent of its revenues
PayU India CEO Anirban Mukherjee elevated to global CEO position
PayU's GPO business contributes around 30 per cent of its overall revenues
 "PayU India CEO Anirban Mukherjee elevated to global CEO position")
Prosus to sell part of PayU to Rapyd for $610 mn, retain India business
Prosus-backed PayU to focus on the large payments and fintech in India
 "Prosus to sell part of PayU to Rapyd for $610 mn, retain India business")
Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus
Swiggy's core restaurant food delivery business, Prosus said, recorded GMV growth of 26 per cent, while Instamart -- its quick commerce vertical - grew its GMV by 459 per cent
 "Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus")
PayU gives pink slip to 150 employees, no plans of 'major downsizing'
The layoffs were undertaken to realign the teams locally
 "PayU gives pink slip to 150 employees, no plans of 'major downsizing'")
Former Nykaa CFO Arvind Agarwal joins PayU India as chief financial officer
"We are excited to welcome Arvind to our leadership team," said Prosus-owned PayU India in a statement
A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner
These include products like smartphones, wearables, large appliances, smart televisions, and washing machines
 "A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner")
CCI clears PayU's $4.7 billion BillDesk acquisition after a year
BillDesk, founded in 2000, is an Indian success story and one of the leading payment businesses in the country
 "CCI clears PayU's $4.7 billion BillDesk acquisition after a year")
Mastercard enables 200,000 merchants for card-on-file tokenisation
Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens
 "Mastercard enables 200,000 merchants for card-on-file tokenisation")
Decoded: The tizzy over RBI's ban on loading PPIs from credit lines
PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them
 "Decoded: The tizzy over RBI's ban on loading PPIs from credit lines")
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
indiagold to raise $12 mn in funding round led by PayU, AWI Fund
Launched in 2020, indiagold offers gold-backed loans, gold savings, and gold locker services to over a million consumers in India
 "indiagold to raise $12 mn in funding round led by PayU, AWI Fund")
Top headlines: PayU to acquire Billdesk; JLR warns of lower Q2 volumes
Business Standard brings you the top headlines of the day.
 "Top headlines: PayU to acquire Billdesk; JLR warns of lower Q2 volumes")
PayU pares losses by 28% at Rs 120 cr in FY19 on back of rising revenues
The firm reported a loss of Rs 148 core in FY18
 "PayU pares losses by 28% at Rs 120 cr in FY19 on back of rising revenues")
Mswipe to acquire PayU's offline POS business operations
Both the brands to acquire new merchants & gain wider acceptance as a payment option
 "Mswipe to acquire PayU's offline POS business operations")
PayU launches online deferral payment facility LazyPay from Rs 3K to Rs 10K
Aimed at those who transact digitally for amount between Rs 500-2,500 and is an option to pay later
 "PayU launches online deferral payment facility LazyPay from Rs 3K to Rs 10K")
