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The proposed acquisition will make PayU one of the bigger online payment providers globally with some $147b in payment volume annually. But the proposed all-cash deal is not only a significant consolidation move in the world of payments: it also underscores Prosus’ continuing focus on developing markets and specifically India.
“Payments and fintech is a core segment for Prosus and India remains our number one investment destination,” said Bob van Dijk, group CEO of Prosus, in a statement. PayU — formed out a combination of various interests in fintech and payments that Naspers (and then Prosus) had acquired over several years, is currently active in some 20 markets.
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