Naspers’ PayU acquires payment and security firm Wibmo for $70 million
PayU has acquired payment and security firm Wibmo for $70 million, the firms said today. Wibmo helps banks in over 20 nations with payment authentication.
- Online payment service PayU has acquired California-based payment and security firm Wibmo for $70 million.
- Wibmo helps banks in over 20 nations with payment authentication and risk-based decisions across "billions of online and mobile payment transactions," it said in a statement.
- In recent years, PayU has focused on growing its business in emerging markets such as India and its bet has largely paid off.
- Last year, Wibmo acquired Mypooling, an Indian payment startup backed by Accel Partners, Qualcomm Ventures, and Rajan Anandan, among others