ACI Infotech Unveils 'ACI-Tech Innovation Labs' in New Jersey, Canada, Hyderabad, Bangalore and Mumbai to Foster Digital Innovation and Transformation for Global Customers and Stakeholders
Wibmo partners and deeply integrates with banks in over 20 countries to offer payment authentication and risk-based decisioning across billions of online and mobile payment transactions.
"This strategic acquisition combines PayU's strong merchant network and Wibmo's leadership in digital transaction security solutions to offer industry-leading payments solutions to merchants and financial institutions in India and other high growth markets," the statement said.
Aakash Moondhra, CFO, PayU Global said: "We will partner with leading banks to enable digital banking, merchants will gain with higher conversion rates and increased sales, and consumers will have a frictionless experience in completing digital payments transactions."
The investment takes PayU's fintech investment total past the $500 million mark, putting the company within the top five leading global fintech investors over the last two years, said the statement.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)