Fintech giant PayU has recently made a significant business move by selling its Global Payments Organisation (GPO) business to the fintech-as-a-service startup Rapyd for a whopping $610 million in an all-cash transaction. This strategic decision is aimed at allowing PayU’s fintech arm to concentrate its efforts on the vast payments and fintech potential in India. PayU has already established itself as the leading payments service provider in India, catering to more than 450,000 merchants and serving over 2 million credit customers.

According to Bob van Dijk, the CEO of Prosus, the Dutch investor overseeing PayU’s operations, this move aligns with their vision of focusing on the tremendous fintech prospects in India. Given India’s status as one of the world’s fastest-growing major economies, Prosus firmly believes in the potential of digital India and is eagerly looking forward to the future growth and success of PayU in the Indian market.