PayU, the Dutch unit of Naspers Ltd, has acquired Indian payment services provider BillDesk for $4.7 billion in cash in its largest acquisition. With this new move, Prosus will now look to augment its payment business in India. Not many know but Mumbai-based BillDesk is one of the biggest payment aggregator gateway platforms in India. If estimates are to be believed, BillDesk and PayTm together controlled a massive chunk of India’s payment gateway traffic. According to Prosus, the acquisition of BillDesk will give a massive boost to PayU in India and expects the post-deal entity to handle 4 billion transactions annually.
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