Mumbai based payment-tech firm PayU Finance India, owned by global consumer internet giant Prosus, has announced the acquisition of payment gateway BillDesk for US$4.7 billion, making PayU one of the leading online payment providers globally by total payment volume.
Together, PayU India and BillDesk will be able to meet the changing payments needs of digital consumers, merchants and government enterprises in India and offer a unified state-of-the-art payment technology platform. The acquisition is subject to approval from the Competition Commission of India.
Founded in 2000 by Ajay Kaushal, Karthik Ganapathy and Srinivasu, Ahmedabad based BillDesk provides an integrated payment technology platform and unified APIs to make digital payments easy and accessible.
