Payu

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

Prosus posts $80-million loss on investment in PayU India

Technology investor Prosus on Wednesday reported widening of its consolidated trading loss to USD 80 million, about Rs 654 crore, on account of investment in PayU India business during first half of the current fiscal. The Netherlands-based investor firm, however, registered a 59 per cent growth in total payments volume (TPV) at USD 28 billion, about Rs 2.29 lakh crore, in India. PayU revenue increased to USD 183 million, about Rs 1,497 crore. "Consolidated trading losses expanded to USD 80 million, as we continued to invest in growing our credit operations in India. In India, our largest payments market, TPV grew 59 per cent to USD 28 billion, and revenue increased 48 per cent to USD 183 million, following increased digitalisation in e-commerce, financial services and bill payments, and a rebound in post pandemic travel," the company said. The Prosus group's overall trading loss widened to USD 1.4 billion during the reported period from USD 2.8 billion a year ago. The revenue of

A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner

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

No break-up fee from Prosus after termination of deal with BillDesk

PayU's expansion plans which it had charted out based on the acquisition have been put on hold for over a year

Naspers-owned Prosus terminates $4.7 billion deal to acquire BillDesk

Prosus has been a long-term investor and operator in India, putting in close to $6 billion in Indian technology companies since 2005

Todays Top Headlines: India's 5G spread, Prosus-BillDesk M&A deal, and more

Global telecom gearmaker Ericsson's senior vice-president Nunzio Mirtillo believes that India will see one of the fastest 5G adoptions in the world

Top headlines: PayU calls off BillDesk buy; Adani Group stocks crack

The Adani Group stocks had been major outperformers so far this calendar year, hence the current selling can be attibuted to profit-taking at these counters

DotPe raises $58 mn in series B, plans entry into financial services

The firm currently serves over 7.5 million brands including McDonald's, 24 Seven and Taco Bell

CCI clears PayU's $4.7 billion BillDesk acquisition after a year

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

CCI clears Prosus-backed PayU's $4.7-bn acquisition of BillDesk

The deal is slated to become the second largest acquisition in the Indian digital space, after Walmart's $16-bn buyout of e-commerce behemoth Flipkart in 2018

$4.7-bn BillDesk deal: Prosus-backed PayU gets show-cause notice from CCI

Changes to deal structure possible, say experts

Mastercard enables 200,000 merchants for card-on-file tokenisation

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

IFC, PayU invest Rs 114 cr in Vayana Network to boost trade credit to MSMEs

Vayana Network as part of its Series C round had already raised Rs 283 crore from new and existing investors

LazyPay joins cards bandwagon, targets 1 million customers this year

The BNPL platform said it is on track to grow three-fold in monthly disbursals to Rs 300 crore in January on a year on year basis.

PayU launches 'PayU Token Hub' to help businesses comply with RBI norms

Solution has been built by PayU and Wibmo, a PayU-owned full stack global PayTech firm, in partnership with major card networks such as Visa and MasterCard, and top issuing banks

Newsmakers: Meet BillDesk founders MN Srinivasu, A Kaushal & K Ganapathy

In a span of a day M N Srinivasu (Vasu), Ajay Kaushal and Karthik Ganapathy have become the latest demi-gods of Indian entrepreneurial story

We will be more active in fintech ecosystem: PayU's Anirban Mukherjee

'We want to build a platform that can be used by others as well', said Mukherjee

PayU aims to provide full-stack financial services to its customers

So far, the company has disbursed about $300 million in credit and it now wants to add new products