Payu

Infibeam Avenues, PayU receive RBI authorisation to operate as PA-P

Infibeam Avenues, PayU have received RBI approval to operate as physical payment aggregators, enabling them to deploy PoS devices and expand their offline payments footprint

Fintech firm PayU India to invest $120 mn by end of FY26, say senior exec

The credit business is expected to get an investment of $50-$60 million. PayU is considering another $60-$70 million infusion in payments infrastructure firm Mindgate Solutions

PayU rolls out MCP server to integrate AI assistants, payment systems

The MCP server helps AI assistants like Claude integrate with PayU's core APIs to automate tasks like invoicing, payment status checks, and customer onboarding

Groww to acquire PayU-backed Fisdom in $150 mn wealth management push

Groww to acquire Fisdom for $150 million as part of its wealth management expansion; the IPO-bound firm also plans to raise funds from Singapore-based GIC

PayU gets final RBI approval to operate as online payment aggregator

Prosus-backed PayU receives final RBI approval to act as an online payment aggregator over a year after in-principle clearance and corporate restructuring

Prosus-backed fintech firm PayU buys 43.5% stake in Mindgate Solutions

The deal will allow PayU to expand into the real-time payment processing market, including the Unified Payments Interface (UPI)

PayU appoints new risk officer in a streak of new leaderships hires

Rao's appointment follows a streak of leadership changes at the payments technology company

HPZ Token scam: Fintechs deny reports of ED probe, freezing of accounts

The chargesheet has named 298 individuals in what could one India's largest cryptocurrency scams: The HPZ Token scam, operated by 10 Chinese nationals

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

PayU invests $5 million in cross-border payments start-up BRISKPE

BRISKPE will use the funding to improve its product and service offerings, expand its team, and scale its services

PayU receives RBI's in-principle approval for payment aggregator role

PayU can now on-board new merchants and provide them digital payment services

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'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

Prosus-owned PayU targets Feb for filing IPO worth $500 mn, hires bankers

PayU, owned by South African conglomerate Prosus, is a payment gateway that also offers other services including buy-now-pay-later, and competes with the likes of Tiger Global-backed Razorpay

PayU India CEO Anirban Mukherjee elevated to global CEO position

PayU's GPO business contributes around 30 per cent of its overall revenues

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

PayU, AWS India, Chiratae Ventures collaborate to launch fintech program

The cohort will receive training and mentorship sessions, including access to experts from PayU, 'guiding them to scale their business operations and expand their customer base'

Fintech firm PayU lays off 150 employees, says it's realigning teams

6% of total workforce of Prosus-backed firm reportedly asked to go

PayU gives pink slip to 150 employees, no plans of 'major downsizing'

The layoffs were undertaken to realign the teams locally

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