PayU Acquires Strategic Stake in Mindgate Solutions to Boost Real-Time Payments

PayU, the fintech arm of Dutch investment firm Prosus, is acquiring a 43.5% stake in Mindgate Solutions. This move aims to enhance PayU's presence in India's real-time payment sector and leverage Mindgate's expertise to drive global digital payment innovations. Mindgate founders will retain majority ownership.

PayU, a part of Dutch investment firm Prosus, is set to acquire 43.5% of Mumbai-based Mindgate Solutions, signaling a strategic move into India's real-time payments market. The acquisition, announced on Thursday, aims to expand PayU's influence and enhance digital payment solutions worldwide.

Despite this significant investment, Mindgate Solutions' founders will continue to hold the majority ownership. PayU's decision underscores its dedication to reinforcing 'Made in India' payment technologies on a global level, according to a statement by PayU CEO Anirban Mukherjee.

Mindgate Solutions, known for processing over 8 billion transactions monthly, offers seamless payment solutions to leading Indian banks. This strategic acquisition aligns with PayU's initiatives to support and invest in the Indian fintech ecosystem, propelling homegrown innovations to international stages.

(With inputs from agencies.)