PayU-owned Wibmo is emerging as a key offering for Naspers-backed PayU which is looking to venture deeper into business payments and enter newer markets.
From being an early player offering online payments to internet companies back in 2011, to facing severe competition from new-age startups such as Paytm and Razorpay, to a failed attempt to acquire Billdesk and facing a merchant acquisition embargo from the Reserve Bank of India, PayU has had a chequered history in India.
Source: Official Website
India may soon witness its second-largest acquisition deal in the fast-growing internet-based solutions with Naspers-backed PayU likely to acquire payments gateway major BillDesk,
Moneycontrol.
BillDesk provides a single versatile, scalable payments platform for enterprise-wide electronic payments and collections, related reconciliation and settlement operations, across multiple delivery channels and using a wide range of payment methods.
PayU is one of the multiple suiters who are said to be in the race to acquire BillDesk in a transaction that could take place at a premium valuation of as much as $3.5-4.5 billion. Though nothing has been finalised as of yet.