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PayU’s operations span some 50 countries, and Prosus is not selling all of these: it is selling what it calls the “Global Payment Organisation” (GPO) and will continue to hold on to PayU’s operations in India, Turkey and Southeast Asia, arguably the three biggest regions for the business. Additionally, the deal underscores Rapyd's ambitions to build out more scale and reach globally for its wider payments operations en route to an IPO.
“With the acquisition PayU GPO, Rapyd will now have 41 licensed or regulated countries we are operating from,” Shtilman said, adding that one important element of the deal is that it enhances Rapyd’s ability to offer a broader range of card acquiring capabilities across Latin America and parts of Europe which complements the over 1,200 local payment methods we can offer our customers globally.
