PayU Eyes Digital Payments Dominance With Plans To Acquire Wibmo
11 March 2019 9:50 PM GMT
PayU is expected to value the deal to acquire Wibmo at $50 Mn-$60 Mn.
- Naspers-owned fintech company PayU is looking to dominate the entire payments process as it is in talks to acquire Bengaluru and Cupertino-based Wibmo that specialises in processing online payments.
- Led by Govind Setlur, Wibmo offers its digital payment technology solutions and payment security in multiple countries including India.
- The company also offers 3D secure process of digital payments, which is the page where customers are asked to punch in their passwords or one-time passwords (OTPs) to authenticate digital transactions.
- The company is certified by Mastercard, Visa, RuPay as well as PCI DSS and can therefore, process all forms of digital payments from cards to mobile based transactions.
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