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BillDesk to acquire Worldline’s India payment biz for $70.8 Mn

EntrackrEntrackr · 14d ago
BillDesk to acquire Worldline’s India payment biz for $70.8 Mn
Medial

BillDesk to acquire Worldline’s India payment biz for $70.8 Mn Indian payments firm BillDesk has entered into an agreement to acquire the Indian payment operations of French payments major Worldline SA for an estimated equity value of about $70.8 million. As part of the transaction, Worldline will also enter into a long-term technology and software partnership with BillDesk, under which the Indian payments company will continue to use Worldline’s payment software on an ongoing basis. The deal values Worldline’s India business at an enterprise value of $43.7 million. Worldline said the proposed sale is part of its broader strategy to sharpen its focus on core payment activities in Europe, streamline operations, and optimise resource allocation. The cash proceeds from the transaction are expected to strengthen the group’s financial profile and support capital redeployment towards its core businesses. In May last year, Worldline received approval from the Reserve Bank of India to operate as a cross border payment aggregator in India. The RBI authorisation allowed Worldline’s Indian arm to facilitate online import and export transactions for merchants under the formal regulatory framework. Following the acquisition, BillDesk is expected to benefit from Worldline’s technology capabilities while consolidating its position in the payments ecosystem. According to its consolidated financial statements for FY24, BillDesk’s revenue from operations declined to Rs 2,334 crore from Rs 2,678 crore in the previous year, while profit after tax fell to Rs 121 crore from Rs 142 crore. The company reported cash and bank balances of Rs 930 crore at the end of FY24. Its FY25 results are yet to be announced. Worldline India reported revenue from operations of Rs 694 crore in FY25, while posting a loss of Rs 22.5 crore. Worldline said that the combined net cash proceeds from all its previously announced divestments, including MeTS, Worldline North America, Cetrel, PaymentIQ and its India business, are estimated to be between $637.2 million and $696.2 million, with the proceeds expected to be received in 2026. The closing of the BillDesk Worldline India transaction is expected in the second half of 2026.

Findi acquires BANKIT to boost financial inclusion in rural India

EntrackrEntrackr · 1y ago
Findi acquires BANKIT to boost financial inclusion in rural India
Medial

Findi acquires BANKIT to boost financial inclusion in rural India. This acquisition underscores Findi’s commitment to India’s fintech sector, particularly in enhancing financial access in rural and semi-urban areas. BANKIT, a fintech company focused on financial inclusion, has been acquired by Findi Ltd. through its majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). Co-founded in 2010 by Amit Nigam and Satyajit Limaye, BANKIT aims to empower the Indian financial landscape by offering a wide range of digital and assisted financial services. It enables users to transfer money to bank accounts, pay utility bills, including telecom, electricity, gas, and water, recharge mobile and DTH, make hotel and travel bookings, and more via agent networks. With a network of over 129,000 outlets and services available in 28 states, covering more than 12,000 pin codes, BANKIT has been a key player in providing banking solutions to underserved communities. This acquisition by Findi aligns with its recent acquisition of Tata Communications' White Label ATM business (Indicash), which will facilitate the deployment of ATMs at merchant touchpoints and expand the suite of services offered to underserved communities. Through this collaboration, Findi and BANKIT aim to expand financial literacy, increase banking accessibility, and drive innovation tailored to the needs of rural India. The acquisition is expected to enhance the development of digital banking services, focusing on financial literacy and accessibility for people in rural areas. Together, BANKIT and Findi plan to make banking services more user-friendly and accessible, helping people with savings, credit, insurance, and other essential financial services. Findi is building a Financial Services Marketplace for the underbanked through its merchant network in India. Currently, Findi, via TSI, operates over 7,500 Brown Label ATMs in partnership with major Indian banks and provides financial and payment services through more than 50,000 merchant partners via its brand FindiPay. The company has also recently acquired Indicash, Tata Communications' White Label ATM business, providing it with Payment Switch capabilities and the ability to deploy its own ATMs at merchant partners.

Digital payment via UPI spikes on person-to-merchant transaction growth: Report

Economic TimesEconomic Times · 2y ago
Digital payment via UPI spikes on person-to-merchant transaction growth: Report
Medial

In August, digital payments through the Unified Payments Interface (UPI) exceeded 10 billion transactions, primarily driven by Person-to-Merchant (P2M) transactions, according to a report by Worldline. UPI transactions have seen substantial growth from 151 million in January 2018 to 9.3 billion in June 2023. P2M transactions, accounting for 57.5% of all UPI transactions in June 2023, indicate the future growth of UPI. The report also noted a reduction in the average ticket size (ATS) for UPI P2M transactions, indicating increased use for microtransactions. Electronic Toll Collection (ETC) has seen significant adoption, with 56.5% growth in issued tags and increased transaction volumes and values.

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