PayU Joins Mindgate as Strategic Investor to Accelerate Global Innovation in Real-Time Digital Payments

PayU, the fintech arm of Prosus, has acquired a strategic 43.5% stake in Mindgate Solutions, a leading real-time payments technology firm. This partnership aims to enhance Mindgate's existing partnerships with banks and improve merchant payment solutions, leveraging Mindgate's expertise in processing over 8 billion transactions monthly. The deal values Mindgate between $180 million to $250 million, contingent on revenue and profit milestones. Majority ownership remains with Mindgate's founders, ensuring continuity in strategy and operations. This collaboration will drive digital payment innovations globally, supporting India's evolving UPI landscape and expanding PayU's presence in real-time payments.

 

Source Name: IBS Intelligence, CNBC TV18, Moneycontrol