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PayU

From EverybodyWiki Bios & Wiki


PayU
File:PayU corporate Logo.png
Private
ISIN🆔
IndustryFintech, Payments Service Provider
Founded 📆2002
Founder 👔
Number of locations
17
Area served 🗺️
Key people
Laurent Le Moal (CEO)
Members
Number of employees
1500
ParentNaspers
🌐 Websitepayu.com
📇 Address
📞 telephone

PayU is a fintech company that provides payment solutions to online merchants.[1][2] The company was founded in 2002[3] and is headquartered in Hoofddorp, Netherlands. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications.[4][5] As of 2018, the service is available in 17 countries including, India, South Africa, Russia, Mexico, Brazil and others.[6] PayU is owned by the Naspers Group.[7][8]

History

PayU is the result of multiple payment gateways in various regions of the world that have all been acquired and brought into the PayU group.[9][10] In 2014, all online payments companies that were part of Naspers started operating under the PayU brand.

Investment and acquisitions

  • Acquired Zooz for $50 million, an Israeli startup that provides an API to merchants for accepting a variety of payments depending on the market.[11]
  • Acquisition of Indian payments services provider Citrus Pay in September 2016 for $130M.[12][13]
  • Investment of €110M in German fintech company Kreditech, which provides digital consumer credit using machine-learning based underwriting.[14][15]
  • PayU led funding round of $115M in Seattle-based Remitly, a remittance company with services across UK, US, Canada, Africa, South America and Asia.[16][17]
  • Series A investment of $3.7M in consumer finance for online purchases provider ZestMoney.[18]
  • Alongside Naspers Fintech and Nexus Venture Partners, PayU invested $5.3M in Paysense in May 2017[19]
  • Investment of R$60M in online credit platform Creditas (ex-BankFacil)[20][21]
  • 2011, PayU acquired Romanian online payments company GECAD ePayments[22][23]

Operations

Europe

In November 2006, PayU SA was established and Platnosci.pl was merged into the group. Over the years, PayU grew in Poland and added new products to its portfolio.[24] In 2010, the company expanded to the Czech Republic. In 2011, began its operations in Russia, Turkey, Slovakia and Hungary.[25]

Latin America

In 2010, PagosOnline sold a majority stake to Buscapé, which was a part of the Naspers Group.[26] And in 2011, Naspers, via Buscapé, acquired the majority stake in DineroMail.[27] In 2013, Naspers acquired the rest of shares of DineroMail[28] and PayU also began operations in Panama and Peru.[29] During the course of 2013 and 2014, PagosOnline and DineroMail were rebranded to PayU.[30][31] In 2016, BCash and PayU, were merged under the PayU brand in Brazil.[32]

Africa

PayJar was founded in South Africa in 2010 as part of the Naspers group to help other Naspers companies process online payments. In 2011, PayJar was rebranded to PayU.[33] In 2015, PayU expanded its operations to Nigeria.[34][35]

India

In 2011, Ibibo in conjunction with co-founders Nitin Gupta and Shailaz Nag, rolled out payment gateway, PayU, in the Indian market, to permit websites to integrate e-commerce transactions through online payments.[36][37]

Products and Services

PayU is a regulated financial institution. It holds licenses from national banks and local regulators. PayU’s products include a PCI-DSS certified payment gateway,[38] an anti-fraud system and an online Visa/MasterCard acquirer.[39][40][41]

See also

References

  1. ↑ "PayU: On the money | Forbes India". Forbes India. Retrieved 2018-07-18.
  2. ↑ Sharma, Samidha. "GETS 20% - Naspers' PayU may invest in lending startup ZestMoney". Timesofindia.com. Retrieved 2018-07-18.
  3. ↑ "Martin Schrimpff - Endeavor". Endeavor. Retrieved 2018-07-18.
  4. ↑ ANI (2018-05-10). "UPI-based transactions on PayU up 200% between September, March". Business Standard India. Retrieved 2018-07-18.
  5. ↑ "PayU to provide credit for online purchases eyes NBFC licence - Times of India". The Times of India. Retrieved 2018-07-18.
  6. ↑ "4 payment aggregators to use in Russia | Practical Ecommerce". Practical Ecommerce. 2018-02-18. Retrieved 2018-07-18.
  7. ↑ "Naspers-owned PayU India raises Rs 802 crore". The Financial Express. 2017-04-11. Retrieved 2018-07-18.
  8. ↑ "Hamburg-based Kreditech expanding to India". www.hamburg-news.hamburg. Retrieved 2018-07-18.
  9. ↑ "Digital payments gateway PayU eyes acquisitions to enter lending segment". @businessline. Retrieved 2018-07-18.
  10. ↑ "Naspers' PayU leads investment in US digital money transfer platform". Retrieved 2018-07-18.
  11. ↑ "PayU acquires Zooz to take on international payment services". Techcrunch. 2016-09-14. Retrieved 2018-07-24.
  12. ↑ "Naspers' PayU buys Citrus Pay for $130M in cash to expand in India". TechCrunch. Retrieved 2018-07-18.
  13. ↑ "PayU to acquire Citrus Pay for $130 mn; Sequoia gets 4x returns". VCCircle. 2016-09-14. Retrieved 2018-07-18.
  14. ↑ "Kreditech raises €110M from Naspers' PayU in strategic financing partnership". TechCrunch. Retrieved 2018-07-18.
  15. ↑ "PayU Infuses $119 Mn In German Fintech Startup Kredtitech; Aims To Increase Credit Access In Emerging Markets - Inc42 Media". Inc42 Media. 2017-05-10. Retrieved 2018-07-18.
  16. ↑ "Remitly is raising up to $115M led by Naspers' PayU to double down on remittances". TechCrunch. Retrieved 2018-07-18.
  17. ↑ "Remitly Tacks On $115 Million for International Remittances". Wall Street Journal. Retrieved 2018-07-18.
  18. ↑ "PayU leads $6.5 mn round of funding in ZestMoney". Techcircle. 2017-02-15. Retrieved 2018-07-18.
  19. ↑ Reporter, B. S. (2017-05-18). "Paysense raises $ 5.3 mn from Jungle, Naspers". Business Standard India. Retrieved 2018-07-18.
  20. ↑ "BankFacil receives Series A investment of USD $3 million". Accion. 2015-08-04. Retrieved 2018-07-18.
  21. ↑ "IFC Leads R$60m Series B in Creditas (formerly BankFacil) (em português)". LAVCA | Latin American Private Equity & Venture Capital Association. 2017-02-20. Retrieved 2018-07-18.
  22. ↑ "Entrepreneur Radu Georgescu makes new exit, selling Axigen to a group of Romanian entrepreneurs - Business Review". Business Review. 2014-03-11. Retrieved 2018-07-18.
  23. ↑ "Radu Georgescu (Founding Partner, GECAD Group)". www.startupgrind.com. Retrieved 2018-07-18.
  24. ↑ "PayU and iwoca launch SME partnership in Poland - AltFi News". AltFi. Retrieved 2018-07-19.
  25. ↑ "PayU expands to Russia, Ukraine and Turkey - Business Review". Business Review. 2012-05-22. Retrieved 2018-07-19.
  26. ↑ Reporter, Staff. "Naspers buys Brazilian e-commerce company". The M&G Online. Retrieved 2018-07-19.
  27. ↑ "El sitio de pagos DineroMail pasa a manos sudafricanas" (in español). Retrieved 2018-07-19.
  28. ↑ "BuscaPé Inc acquires controlling stake in Latin America online payments platform DineroMail". LAVCA | Latin American Private Equity & Venture Capital Association. 2011-03-01. Retrieved 2018-07-19.
  29. ↑ "Naspers culmina compra de DineroMail y lanza PayU Latam". iProfesional. Retrieved 2018-07-19.
  30. ↑ "La llegada de PayU al mercado latinoamericano de los pagos online | Ebanking News". www.ebankingnews.com (in español). Retrieved 2018-07-19.
  31. ↑ "Pagosonline se convierte en PayU Latam". Blog Comercio Electronico (in español). 2013-08-21. Retrieved 2018-07-19.
  32. ↑ "Naspers funde empresas de pagamentos online PayU e Bcash - TeleSíntese". www.telesintese.com.br (in português). Retrieved 2018-07-19.
  33. ↑ M, Swathi P. "PayU India Rebrands PayU Enterprises And PayUmoney As Independent Entities". www.nextbigwhat.com. Retrieved 2018-07-19.
  34. ↑ "PayU to expand Nigerian online payment market | IT News Africa – Africa's Technology News Leader". www.itnewsafrica.com. Retrieved 2018-07-19.
  35. ↑ "PayU To Boost Nigerian Online Payments N200B | PYMNTS.com". www.pymnts.com. Retrieved 2018-07-19.
  36. ↑ Sahay, Priyanka (2016-02-24). "Ibibo to raise $250 million from Naspers". Live Mint. Retrieved 2018-07-19.
  37. ↑ "Naspers merges PayU India with global payments business". Techcircle. 2014-02-13. Retrieved 2018-07-19.
  38. ↑ "Refer to these companies for for secure payments | The Siasat Daily". The Siasat Daily. 2018-07-06. Retrieved 2018-07-19.
  39. ↑ "Where is PayU Headed? Follow the Money | Bank Innovation | Bank Innovation". bankinnovation.net. Retrieved 2018-07-19.
  40. ↑ ANI (2018-02-05). "PayU India launches payment collection feature". Business Standard India. Retrieved 2018-07-19.
  41. ↑ Finextra (2017-04-25). "Poland's PayU launches Visa Checkout". Finextra Research. Retrieved 2018-07-19.


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