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Naspers arm PayU buys fintech startup Wibmo in $70 million deal

Naspers arm PayU buys fintech startup Wibmo in $70 million deal

  • Bengaluru: PayU, an online payment service provider and Naspers' fintech arm, on Friday announced the acquisition of Wibmo, a Silicon Valley startup that works on digital payment security and payment enablement on smartphones.
  • Post acquisition, Cupertino-based Wibmo will continue to operate and serve all its clients as a wholly owned subsidiary of PayU.
  • Founded in 1999 by Setlur and Veena Mistry, Wibmo provides digital payment security technology in India and other emerging markets.
  • PayU, on the other hand, provides payment gateway services and other digital payment enablement services to both consumers and businesses.


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