PayU India

The layoffs were undertaken to realign the teams locally

"We are excited to welcome Arvind to our leadership team," said Prosus-owned PayU India in a statement

These include products like smartphones, wearables, large appliances, smart televisions, and washing machines

BillDesk, founded in 2000, is an Indian success story and one of the leading payment businesses in the country

Mastercard said it worked with 45,000 merchants, 34 issuing banks, 10 acquiring banks, and 30-plus token requestors (including all major payment aggregators) to create 90 million tokens

PPIs are instruments that facilitate the purchase of goods and services, conduct of financial services, enable remittance facilities, etc., against the value stored in them

In September last year, PayU agreed to acquire payments gateway BillDesk in an all-cash transaction of $4.7 billion

Launched in 2020, indiagold offers gold-backed loans, gold savings, and gold locker services to over a million consumers in India

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The firm reported a loss of Rs 148 core in FY18

Both the brands to acquire new merchants & gain wider acceptance as a payment option

Aimed at those who transact digitally for amount between Rs 500-2,500 and is an option to pay later