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

EntrackrEntrackr · 16h 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.

PayU acquires 43.5% stake in Mumbai-based Mindgate Solutions

EntrackrEntrackr · 11m 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.

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