Financial news

PayU’s GPO business provides advanced e-commerce payment solutions for global merchants in over 30 countries across Latin America, Central and Eastern Europe, and Africa. 

The business contributes around 30 per cent of PayU’s overall revenues. In FY23, total payment volumes for GPO grew 12 per cent year-on-year to $34B. It is around 3x growth in 5 years.

Rapyd: Provides digital payment processing

Rapyd is a digital payment processing and infrastructure company that delivers end-to-end products covering the entire payment spectrum from e-commerce payments acceptance to complex financial solutions, including payouts, FX, white label wallets, and card issuing. 

This transaction will help Rapyd to significantly scale and market its presence in Central and Eastern Europe and Latin America, and also gaining access to relevant underlying licenses and payment processing infrastructure.

PayU: Fintech and e-payments business of Prosus

PayU is a financial services provider in global growth markets. 

It claims to deliver innovative technology that enables billions of people and millions of merchants to buy and sell online. As an online payment service provider, it deploys more than 300 payment methods and PCI certified platforms to process approximately 10 million payments daily.

PayU is one of the biggest investors in the fintech space with investments totalling over $1B to date.

Laurent le Moal, Chief Executive Officer of PayU, says, “As we focus our investment on the Indian market, this is an exciting time for Prosus’s Payments & Fintech segment. PayU’s payments business is one of the largest, fastest growing and most profitable businesses in India among non-banking players, delivering 42 per cent year on year growth in the last year alone.” 

“Overall, India’s digital financial services opportunity continues to be large and under-penetrated, offering healthy growth for the PayU India business. In areas like lending and digital credit products, where PayU India already supports 2m customers and over 450,000 merchants, we see strong growth potential for the future.” adds Moal. 

Bob van Dijk, Chief Executive Officer of Prosus and Naspers, says, “PayU’s GPO business has grown considerably in recent years, with payment volumes growing more than 300% in the past five years alone. The business occupies a strong position in the global fintech space as a result of the investments made in building an exceptional local payments business, with global scale.”

“We are now fully focused on the huge fintech opportunity in India, where PayU is the leading payments service provider and is rapidly expanding its credit offering. Innovation and progressive regulation are driving rapid change within the digital payments industry in India, and we see many new opportunities to further expand our business there. As one of the fastest-growing major economies in the world, we strongly believe in digital India and are excited about the next phase of growth for PayU in India,” adds van Dijk.