PayU: Acquires digital payments company Wibmo for $70 million

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PayU: Acquires digital payments company Wibmo for $70 million

  • Strategic acquisition combines  PayU’s strong merchant network
  • Wibmo, an innovative digital payment company partners and deeply integrates with banks in over twenty countries to offer payment authentication
  • The acquisition of Wibmo enable PayU to build a robust digital payment ecosystem
  • PayU and Wibmo together will be able to work with merchants and financial institutions to offer targeted payment solutions
  • Acquisition help PayU accelerate its credit business by leveraging big data to power credit on various online and offline merchants in partnership with leading lending players
  • PayU will draw upon its presence in other high growth markets to drive the expansion of Wibmo’s payment security