PayU’s acquisition of BillDesk gets CCI approval
<img src="” title=”PayU’s acquisition of BillDesk gets CCI approval” />
The Competition Commission of India (CCI) has approved the acquisition of payment gateway BillDesk by Prosus NV to complement its own payment aggregation service platform, PayU. The regulatory body made the announcement via a post on Twitter where it said, “Commission approves acquisition of 100% of the equity share capital of http://IndiaIdeas.com (BillDesk) by PayU Payments.”
Commission approves acquisition of 100% of the equity share capital of https://t.co/X3WJSGTZO8 (BillDesk) by PayU Payments pic.twitter.com/nOz35P53KM
— CCI (@CCI_India) September 5, 2022
PayU India primarily provides payment aggregation services that enables merchants (and other entities) to receive payments from their customers across various digital payment methods. The shares of PayU India are indirectly held by Prosus.
IIL, on the other hand, is an unlisted public limited company that uses the name ‘BillDesk’ for providing its payment aggregation services in India that enables merchants and other entities to receive payments from their customers across
various digital payment methods.
It is worth noting that Prosus first moved to acquire Indian payments platform BillDesk back in August 2021. At the time, the company had agreed to buy BillDesk for a whopping $4.7 billion (Rs 34,380 approximately) to strengthen its own payment aggregation platform, PayU.
“Consumers now rely on fintech services in so many ways: to pay their bills, to buy products and services, to send money, to invest and to take loans. Together, BillDesk and PayU can support the rapid growth of digital financial services and focus on innovating to enable our clients to serve their customers better in a rapidly changing world,” BillDesk had said while announcing the proposed acquisition at the time.
“As we join forces with PayU, we are committed to evolving and enhancing our solutions, expanding to new segments, and doing everything we can to drive your digital transformation. We are convinced that our ‘complementary combination’ will extend leadership and value for you in the years to come,” it had added confirming that the acquisition will be subject to regulatory approvals in India.
Now, a little over a year later, the Competition Commission of India has given its nod to the acquisition.
The post PayU’s acquisition of BillDesk gets CCI approval appeared first on BGR India.
<img src="" title="PayU’s acquisition of BillDesk gets CCI approval" />
The Competition Commission of India (CCI) has approved the acquisition of payment gateway BillDesk by Prosus NV to complement its own payment aggregation service platform, PayU. The regulatory body made the announcement via a post on Twitter where it said, “Commission approves acquisition of 100% of the equity share capital of http://IndiaIdeas.com (BillDesk) by PayU Payments.”
Commission approves acquisition of 100% of the equity share capital of https://t.co/X3WJSGTZO8 (BillDesk) by PayU Payments pic.twitter.com/nOz35P53KM
— CCI (@CCI_India) September 5, 2022
PayU India primarily provides payment aggregation services that enables merchants (and other entities) to receive payments from their customers across various digital payment methods. The shares of PayU India are indirectly held by Prosus.
IIL, on the other hand, is an unlisted public limited company that uses the name ‘BillDesk’ for providing its payment aggregation services in India that enables merchants and other entities to receive payments from their customers across
various digital payment methods.
It is worth noting that Prosus first moved to acquire Indian payments platform BillDesk back in August 2021. At the time, the company had agreed to buy BillDesk for a whopping $4.7 billion (Rs 34,380 approximately) to strengthen its own payment aggregation platform, PayU.
“Consumers now rely on fintech services in so many ways: to pay their bills, to buy products and services, to send money, to invest and to take loans. Together, BillDesk and PayU can support the rapid growth of digital financial services and focus on innovating to enable our clients to serve their customers better in a rapidly changing world,” BillDesk had said while announcing the proposed acquisition at the time.
“As we join forces with PayU, we are committed to evolving and enhancing our solutions, expanding to new segments, and doing everything we can to drive your digital transformation. We are convinced that our ‘complementary combination’ will extend leadership and value for you in the years to come,” it had added confirming that the acquisition will be subject to regulatory approvals in India.
Now, a little over a year later, the Competition Commission of India has given its nod to the acquisition.
The post PayU’s acquisition of BillDesk gets CCI approval appeared first on BGR India.
<img src="” title=”PayU’s acquisition of BillDesk gets CCI approval” />
The Competition Commission of India (CCI) has approved the acquisition of payment gateway BillDesk by Prosus NV to complement its own payment aggregation service platform, PayU. The regulatory body made the announcement via a post on Twitter where it said, “Commission approves acquisition of 100% of the equity share capital of http://IndiaIdeas.com (BillDesk) by PayU Payments.”
Commission approves acquisition of 100% of the equity share capital of https://t.co/X3WJSGTZO8 (BillDesk) by PayU Payments pic.twitter.com/nOz35P53KM
— CCI (@CCI_India) September 5, 2022
PayU India primarily provides payment aggregation services that enables merchants (and other entities) to receive payments from their customers across various digital payment methods. The shares of PayU India are indirectly held by Prosus.
IIL, on the other hand, is an unlisted public limited company that uses the name ‘BillDesk’ for providing its payment aggregation services in India that enables merchants and other entities to receive payments from their customers across
various digital payment methods.
It is worth noting that Prosus first moved to acquire Indian payments platform BillDesk back in August 2021. At the time, the company had agreed to buy BillDesk for a whopping $4.7 billion (Rs 34,380 approximately) to strengthen its own payment aggregation platform, PayU.
“Consumers now rely on fintech services in so many ways: to pay their bills, to buy products and services, to send money, to invest and to take loans. Together, BillDesk and PayU can support the rapid growth of digital financial services and focus on innovating to enable our clients to serve their customers better in a rapidly changing world,” BillDesk had said while announcing the proposed acquisition at the time.
“As we join forces with PayU, we are committed to evolving and enhancing our solutions, expanding to new segments, and doing everything we can to drive your digital transformation. We are convinced that our ‘complementary combination’ will extend leadership and value for you in the years to come,” it had added confirming that the acquisition will be subject to regulatory approvals in India.
Now, a little over a year later, the Competition Commission of India has given its nod to the acquisition.
The post PayU’s acquisition of BillDesk gets CCI approval appeared first on BGR India.
