Naspers Backed Payu News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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.

The company recently slashed its issue size to Rs 700 crore from Rs 1,900 crore and refiled the draft papers with SEBI.

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.

Shares of Paytm jumped as much as 20% to INR 669.6 during the early trading hours today, rising for the second straight session

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...