NewsVoir
Mumbai (Maharashtra) [India], September 18: PayU, the payments and fintech business of Prosus, announced today that it is increasing its stake in Mindgate, a pioneer in real-time payments technology, transitioning from a strategic minority investor to a majority shareholder with a total holding of 70%. Both founders will continue to hold a significant minority, together retaining 30% of the company. PayU's additional investment in Mindgate reflects its strong belief in Mindgate's vision and capabilities. It also complements PayU's growth strategy and vision towards driving the next generation of digital payments innovations for better customer experience and accelerating the global adoption of 'Made in India' platforms.
While PayU has deepened its strategic investment, operational control will remain with the founders, ensuring leadership continuity, while customers, partners, and employees can expect business as usual with innovation and service excellence. Becoming a majority shareholder marks a strategic milestone for both PayU and Mindgate. The move will allow both companies to deepen their partnership, enhance product offerings, and further drive innovation in India's rapidly evolving real-time digital payments ecosystem.
"At PayU, we are driven to deliver exceptional value to our merchant and bank partners. Our additional investment in Mindgate underscores our confidence in its strong performance and the vast growth potential in India's real-time payments ecosystem. It further strengthens PayU's role in accelerating the Government of India's Digital India vision and reinforces our commitment to powering India's digital payments through PayU's diversified fintech platform," said Anirban Mukherjee, CEO, PayU.
"Mindgate continues to play a crucial role in the growth journey of India's real-time payments by powering 10 billion+ monthly transactions and providing seamless payment solutions to leading banks. Together with PayU's diversified fintech platform, its extensive network, and increased investment, Mindgate will be well-placed to contribute to the vision of global adoption of real-time payments," said George Sam, Co-founder & Business Head, Mindgate Solutions.
"We are incredibly excited by PayU's deepened commitment to our shared vision of transforming payments infrastructure through innovation. Our success in India is built on the strength of our issuing platform, which has been central to the growth of real-time payments for leading banks and institutions. With PayU's strong merchant stack complementing our capabilities, we now have the combined advantage of addressing the acquiring side of the payments ecosystem," said Guhan Muthuswamy, Co-founder & Software Architect, Mindgate Solutions.
India's digital payments sector continues its remarkable growth trajectory, especially driven by real-time payment solutions like NPCI's UPI, which itself recorded over 20 billion monthly transactions last month. As NPCI accelerates its mission to expand UPI's global footprint, PayU with its increased stake in Mindgate has cemented itself as a leader in digital payments platforms that provides innovative, scalable, and secure payment solutions, ensuring a seamless transaction experience for users across global markets.
Together, PayU and Mindgate are set to take Digital India and fintech's evolution to the next phase by investing in India's UPI infrastructure. They also plan to bring real-time payments solutions to the broader Asia Pacific and MENA regions, which are rapidly moving toward real-time payments-led ecosystems like those in India and Brazil.
PayU is the payments and fintech business of Prosus, a global consumer internet group and one of the largest technology investors in the world. In India, PayU operations are regulated by the Reserve Bank of India and offers advanced solutions to meet the digital payment requirements of the Indian market. PayU India companies aim to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of consumers, merchants and banks through its cutting-edge technology solutions.
PayU provides payment gateway solutions to online businesses through its cutting-edge and award-winning technology and platform. PayU has empowered 5 lakhs+ businesses, including India's leading enterprises, e-commerce giants and SMBs. It enables businesses to collect digital payments across 150+ online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, pay-later, QR, UPI, Wallets, and more.
For more details, visit www.payu.in
Mindgate Solutions, a trusted partner in digital payments since 2008, is headquartered in Mumbai, India, with regional hubs in the Middle East, Southeast Asia, and the UK. The company specializes in developing advanced payment solutions for banks, government institutions, merchants, and corporates, leveraging cutting-edge technologies such as microservices architecture and real-time streaming to ensure scalability, security, and reliability. With a dedicated team of over 1,600 payment professionals and a portfolio of 60+ global marquee clients, Mindgate plays a pivotal role in enabling seamless digital transactions worldwide.
Founded by George Sam and Guhan Muthuswamy, Mindgate has established itself as a dominant force in UPI infrastructure in India, processing over 10 billion digital transactions monthly through its partner banks, facilitating payments worth $1 trillion annually. Mindgate continues to expand its reach across key markets including the Middle East, Europe, the UK, ASEAN, and the US -- enabling leading banks to modernize their digital payment infrastructure. Mindgate's commitment to innovation and excellence has been consistently recognized with prestigious accolades on global platforms, including the MEA Finance Awards, IBS Intelligence Awards, The Asian Banker Awards and most recently, the 1st position in the Digital Payments Award 2024-2025 (TSP Category), conferred by the Ministry of Finance and Department of Financial Services, Government of India.
For more details, visit www.mindgate.solutions
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