PayU to buy payments firm BillDesk for $4.7 bn

‘Retail market grew 80% over 2 years’

Dutch tech investment firm Prosus on Tuesday said its subsidiary PayU had agreed to acquire Indian payments gateway BillDesk for $4.7 billion, making this one of the biggest deals in the Indian digital payments sector. The company said that together, PayU and BillDesk would be able to ‘meet the changing payments needs of digital consumers, merchants and government enterprises in India’ and offer ‘state-of-the-art technology to even more of the excluded sections of society, while ‘delivering robust consumer protection’. “Prosus N.V., the global consumer Internet group and one of the largest technology investors in the world, announced today that an agreement has been reached between PayU and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for $4.7 billion,” the company said in a statement.