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PayU appoints Shailesh Paul as CEO of Wibmo

EntrackrEntrackr · 2m ago
PayU appoints Shailesh Paul as CEO of Wibmo
Medial

PayU appoints Shailesh Paul as CEO of Wibmo. Digital financial services provider PayU has appointed Shailesh Paul as the Chief Executive Officer (CEO) of Wibmo, the company’s paytech division. According to Wibmo, Shailesh Paul will lead the company’s strategic vision and execution, driving sustainable growth and innovation. He will be instrumental in forging strategic alliances worldwide, advancing Wibmo’s leadership in authentication, digital identity, and fraud prevention. Under his leadership, it will scale its secure transaction platforms and risk-based decision-making solutions, aligning with evolving market demands and regulatory landscapes. “I’m excited to join the talented Wibmo team and the broader PayU leadership team as we push beyond conventional boundaries and create lasting value through trust, innovation, and excellence,” said Shailesh Paul. Prior to joining Wibmo, Shailesh spent over 18 years at Visa, most recently serving as Global Head of SMB Acceptance and previously as Head of Merchant Acquiring for India & South Asia. Shailesh has held various leadership roles in partnerships, product development and business development with prior experience at Standard Chartered and Mastercard. Wibmo, owned by PayU, operates with entities in India, the US, and Indonesia. It is a global full-stack PayTech company that offers payment security and digital payments in emerging markets. The platform also offers fraud and risk management solutions, digital financial services, prepaid solutions, and a variety of merchant-acquiring services. PayU provides payment gateway solutions to online businesses and claims to have empowered over 5 lakhs businesses, including India’s leading enterprises, e-commerce giants and SMBs.

PayU acquires 43.5% stake in Mumbai-based Mindgate Solutions

EntrackrEntrackr · 3m ago
PayU acquires 43.5% stake in Mumbai-based Mindgate Solutions
Medial

PayU acquires 43.5% stake in Mumbai-based Mindgate Solutions PayU, the payments and fintech business of Prosus, has acquired a strategic stake in Mumbai-based real-time payments tech company Mindgate Solutions. This partnership strengthens PayU’s presence in India’s real-time payments sector while utilizing Mindgate’s expertise to advance digital payment innovations globally. As part of this deal, PayU will acquire a 43.5% stake in Mindgate, while majority ownership will remain with the company's founders, the company said in a press release. This investment in Mindgate allows PayU to contribute to India's evolving digital payment landscape, driven by instant payment systems like UPI, developed by the National Payment Corporation of India (NPCI). As NPCI expands UPI domestically and globally, Mindgate is poised to play a key role by providing real-time payment infrastructure and expertise to leading banks in India. Person-to-merchant (P2M) transactions increasingly dominate the payments landscape, constituting nearly 60% of all UPI transactions in India. This partnership will enable banks and merchants to meet the evolving needs of consumers through enhanced payment options. Mindgate processes over 8 billion transactions monthly and supports major banks. Expanding across MENA, ASEAN, Europe, and the US, its expertise will enhance PayU’s global reach through its paytech business — Wibmo. The development has come at a time when PayU is planning for its IPO. It’s eyeing a public listing during the second half of 2025. In India, PayU acquired fintech company PaySense and merged it with LazyPay in early 2020. The company was also close to acquiring fintech firm BillDesk; however, the $4.7 billion deal fell through due to the non-fulfillment of certain conditions.

PayG secures RBI Payment Aggregator license

EntrackrEntrackr · 1m ago
PayG secures RBI Payment Aggregator license
Medial

PayG secures RBI Payment Aggregator license Payment gateway PayG has been granted the Payment Aggregator License by the Reserve Bank of India (RBI). This represents a major step forward in PayG’s mission to create a secure, inclusive, and innovation-led payment infrastructure for India’s digital economy. With the license in hand, the startup is now fully authorized to continue delivering seamless and compliant digital payment solutions to its expanding network of merchants and consumers, PayG said in a press release. According to PayG, this license solidifies its aim to build a future-ready payment ecosystem that’s inclusive, scalable, and relentlessly focused on empowering India’s economic backbone—its micro, small, and medium enterprises (MSMEs). PayG is laser-focused on transforming the digital journey for MSMEs and retailers. By offering user-friendly, secure, and affordable payment solutions, the platform is helping small businesses—from street vendors to local retailers. The Hyderabad-based startup is also actively advancing its partnership with ONDC (Open Network for Digital Commerce). PayG plans to invest in product upgrades, advanced security frameworks, and feature-rich tools designed specifically for MSMEs and retailers. Its upcoming products include advanced analytics to help merchants make smarter decisions, seamless credit facilitation services, integration with popular business platforms for end-to-end solutions, and an easy-to-use payment experience tailored to small businesses. Founded in 2020, PayG is a payment gateway that claims to have partnered with over 1,000 SMB merchants and more than 50 enterprise clients. It features over 120 payment options which include various banks’ credit cards, debit cards, net banking, and wallets to accept payment easily.

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