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PayU provides online payment services for individuals and businesses, acting as a payment gateway that lets merchants accept multiple methods—cards, bank transfers, e-wallets, and cash options—through a single integration. It works by localizing its payment options for each country and using machine learning to detect and block fraudulent transactions, helping merchants reach customers and reduce risk. PayU differentiates itself with deep regional coverage and local payment partnerships (like UPI in India, OXXO in Mexico, and Boleto in Brazil) to match local preferences and regulations. Its goal is to help merchants of all sizes accept payments easily and securely in developing markets, improving conversion and enabling cross-border commerce.
Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$612M
Headquarters
Amsterdam, Netherlands
Founded
2002
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Total Funding
$612M
Above
Industry Average
Funded Over
2 Rounds
Hybrid Work Options
Flipkart, Axis Bank and PayU roll out biometric card payments to replace OTPs in India. Flipkart, Axis Bank and PayU have introduced biometric authentication for card payments on Flipkart, allowing users to approve transactions via fingerprint or Face ID on supported Android and iOS devices instead of entering a one-time password. The service is initially enabled for Axis Bank cardholders through issuer-level biometric verification, positioning Flipkart among the first major Indian e-commerce platforms to roll out biometric authentication for card payments. According to the companies, the new flow is designed to reduce friction in digital payments by replacing SMS-based OTPs with a faster mechanism that mirrors how consumers already unlock and use their smartphones. The partners say the feature is backed by device fingerprinting and additional security checks aimed at lowering the risk of SIM-swap and OTP-related fraud. Under the arrangement, PayU manages merchant-side infrastructure, including device security and authentication flows, while Axis Bank uses Wibmo, a PayU company, to handle biometric verification on the issuer side. The launch comes against the backdrop of a sharp rise in digital payment fraud in India, with fraud values reported as having increased more than fivefold to exceed ₹1,400 crore in FY 2024, based on Reserve Bank of India-linked data. It also aligns with the RBI's "Authentication Mechanisms for Digital Payment Transactions Directions, 2025," which explicitly encourages the industry to adopt biometric and risk-based authentication in place of SMS OTPs. Flipkart, Axis Bank and PayU frame the initiative as consistent with this regulatory direction, arguing that it can strengthen security, improve transaction success rates and support a more resilient payments ecosystem. Executives from the three companies describe the rollout as part of a broader push to embed safety and trust into digital payments while meeting expectations for quicker, more seamless checkouts. They characterize device-bound biometric card authentication as a step in India's transition away from OTPs and as a model for the next generation of secure digital transactions.
8B and PayU open payment corridor india-central Asia. 8B and PayU announce a strategic partnership to make Indian means of payment, including UPI (Unified Payments Interface), accessible to traders in Central Asia. The initiative allows Indian tourists and consumers to pay in several countries in the region with their domestic payment habits, while providing local traders with direct access to Indian infrastructure. As tourism and commercial exchanges intensify between these two economies, this approach thus inaugurates the first foundations of a unified architecture. Titan offers a cut AI for banking requirements.
PayU advances CSR in 2025 with digital safety and sustainable livelihoods. MUMBAI (India CSR): As part of its steadfast commitment to advancing India's digitization mission, and further driving financial inclusion agenda, PayU, a leading fintech platform, executed a host of Corporate Social Responsibility (CSR) initiatives in 2025. Designed to bridge the digital divide and empower underserved communities nationwide, PayU's multi-faceted programs have directly benefited over 50,000 rural beneficiaries and over 140 women across key villages in states like Maharashtra, etc. and about 450 students and educators in India since 2024. To drive this mission forward, PayU partnered with the key organizations including partnerships with the Data Security Council of India (DSCI), NeevJivan NGO, etc. "PayU's commitment to social impact goes beyond financial inclusion - we're building digitally safe and economically empowered communities from the ground up," said Richa Mukherjee, Senior Director - Corporate Affairs and Public Policy. "These programs represent our belief that technology and entrepreneurship can transform lives. When we see rural students mastering cybersecurity concepts or women launching sustainable businesses, we're creating lasting change that supports the Digital India mission." Pioneering digital safety education. In partnership with the Data Security Council of India (DSCI) for its Cyber for Youth Program, PayU revolutionized cybersecurity education in rural Karnataka. Through engaging activities such as interactive quizzes, poster competitions, and live demonstrations conducted in local languages, covering critical topics including cyberbullying prevention, social media safety, and digital payment fraud awareness. The program's impact was validated through rigorous pre- and post-assessments, with students showing knowledge improvement rates ranging from 62.5% to 82.3% across different schools. Empowering women entrepreneurs through sustainable livelihood programs. By collaborating with NeevJivan NGO, PayU implemented its 'Model Village Program' focused on empowering women entrepreneurs in the Nashik, Dahanu, and Jawhar regions of Maharashtra. The initiative introduced sustainable livelihood projects including bee-keeping, mushroom farming, poultry farming, and vermicomposting, providing women with viable alternate income sources. The program provided comprehensive support including 30-45 days of entrepreneurship training and strategic branding assistance, with products like "Madhu" for honey and "Mastshroom" for mushrooms. The initiative successfully established 14 sustainable projects, with every participating household gaining access to new income-generating opportunities, demonstrating PayU's commitment to economic empowerment through innovation. Leadership-Driven educational impact. PayU further strengthened its educational commitment through a strategic partnership with Teach for India. PayU's senior leaders engaged directly with over 450 students and educators through extended mentorship sessions, facilitating knowledge sharing and providing real-world insights into technology, entrepreneurship, and career development. This initiative reinforced PayU's belief in leadership-driven social change and the power of direct engagement in shaping young minds. All these initiatives build upon PayU's established track record of impactful CSR programs. Last year, the company successfully implemented two major initiatives: the Village Adoption Program under RBI's framework, which brought digital payment literacy to 5,000 beneficiaries across five villages in Uttar Pradesh under the theme 'Har Payment Digital' and the Digital Vans initiative in partnership with MeITY's CSC, which delivered financial and digital literacy training to over 50,238 citizens in remote areas around Bengaluru, Mumbai, and Gurugram. These programs demonstrate PayU's consistent commitment to bridging the digital divide and advancing financial inclusion across India's rural landscape.
PayU has received "integrated authorisation" from the RBI to operate as a payment aggregator for online, offline, and cross-border transactions. This approval allows PayU to onboard merchants and process payments, enhancing its cross-border payment capabilities. The company, part of Prosus, has postponed its IPO plans to 2026 to focus on business improvements. The approval comes amid increasing competition in the payment aggregator space and follows RBI's new regulations for payment aggregators.
Wibmo | PayU to showcase cutting-edge payments and fraud prevention solutions at Seamless Payments & Fintech Africa 2025.
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Industries
Data & Analytics
Enterprise Software
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
Acquired
Total Funding
$612M
Headquarters
Amsterdam, Netherlands
Founded
2002
Find jobs on Simplify and start your career today