Company type | Private |
---|---|
Industry | Fintech, Payments Service Provider |
Founded | 2002 |
Founder | Jose Velez, Martin Schrimpff, Arjan Bakker, Grzegorz Brochocki, Nitin Gupta, Shailaz Nag |
Number of locations | 17 |
Key people | Anirban Mukherjee (CEO) |
Number of employees | 1500 |
Parent | Naspers |
Website |
corporate |
PayU is a Netherlands-based payment service provider to online merchants. [1] [2] The company was founded in 2002, [3] and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. [4] [5] As of 2018, the service is available in 17 countries. [6] The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent. [7] [8]
PayU is the result of multiple payment gateways in various regions of the world that have been acquired and brought into the PayU group. [9] [10] [11] In 2014, all online payment companies that were part of Naspers started operating under the PayU brand.
In 2022, it fired about 150 employees, approximately 6% of its workforce. [12]
In 2023, PayU sold its global payments business, other than those in its core markets of India, Southeast Asia and Turkey, to Rapyd for $610 million. [13]
In November 2006, PayU SA was established and the Polish firm Platnosci.pl was merged into the group. The company also has a partnership with Iwoca to make financing for SME firms easier. [30] In 2010, the company expanded to the Czech Republic. In 2011, the company expanded to Romania. In 2012, it began its operations in Russia, Ukraine, Turkey, Slovakia and Hungary. [31]
In 2002, Pagosonline was founded in Colombia by Jose Velez, Martin Schrimpff and Santiago Spinel.[ citation needed]
In 2010, PagosOnline sold a majority stake to Buscapé, which was a part of the Naspers Group. [32] In 2011, Naspers acquired the majority stake in DineroMail. [33] In 2013, Naspers acquired the rest of the shares of DineroMail. [34] In 2012, Naspers acquired Pagosonline, replacing the former two with a new payment platform that eventually was rebranded PayU Latam, which begun operations in Panama and Peru. [35] During the course of 2013 and 2014, PayU Latam and DineroMail merged. [36] [37] In 2016, Bcash and PayU, were merged under the PayU brand in Brazil. [38]
PayJar was founded in South Africa in 2010 as part of the Naspers group to help other Naspers companies process online payments. In 2011, PayJar was rebranded to PayU. [39] In 2015, PayU expanded its operations to Nigeria. [40] [41]
In 2011, Ibibo in conjunction with co-founders Nitin Gupta and Shailaz Nag, rolled out a payment gateway, PayU, in the Indian market to permit websites to integrate e-commerce transactions through online payments. [42] [43]
PayU is a regulated financial institution. It holds licenses from central banks and local regulators. PayU's products include a PCI-DSS certified payment gateway, [44] [45] an anti-fraud system and an online Visa/MasterCard acquirer. [46] [47] [48]
Company type | Private |
---|---|
Industry | Fintech, Payments Service Provider |
Founded | 2002 |
Founder | Jose Velez, Martin Schrimpff, Arjan Bakker, Grzegorz Brochocki, Nitin Gupta, Shailaz Nag |
Number of locations | 17 |
Key people | Anirban Mukherjee (CEO) |
Number of employees | 1500 |
Parent | Naspers |
Website |
corporate |
PayU is a Netherlands-based payment service provider to online merchants. [1] [2] The company was founded in 2002, [3] and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. [4] [5] As of 2018, the service is available in 17 countries. [6] The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent. [7] [8]
PayU is the result of multiple payment gateways in various regions of the world that have been acquired and brought into the PayU group. [9] [10] [11] In 2014, all online payment companies that were part of Naspers started operating under the PayU brand.
In 2022, it fired about 150 employees, approximately 6% of its workforce. [12]
In 2023, PayU sold its global payments business, other than those in its core markets of India, Southeast Asia and Turkey, to Rapyd for $610 million. [13]
In November 2006, PayU SA was established and the Polish firm Platnosci.pl was merged into the group. The company also has a partnership with Iwoca to make financing for SME firms easier. [30] In 2010, the company expanded to the Czech Republic. In 2011, the company expanded to Romania. In 2012, it began its operations in Russia, Ukraine, Turkey, Slovakia and Hungary. [31]
In 2002, Pagosonline was founded in Colombia by Jose Velez, Martin Schrimpff and Santiago Spinel.[ citation needed]
In 2010, PagosOnline sold a majority stake to Buscapé, which was a part of the Naspers Group. [32] In 2011, Naspers acquired the majority stake in DineroMail. [33] In 2013, Naspers acquired the rest of the shares of DineroMail. [34] In 2012, Naspers acquired Pagosonline, replacing the former two with a new payment platform that eventually was rebranded PayU Latam, which begun operations in Panama and Peru. [35] During the course of 2013 and 2014, PayU Latam and DineroMail merged. [36] [37] In 2016, Bcash and PayU, were merged under the PayU brand in Brazil. [38]
PayJar was founded in South Africa in 2010 as part of the Naspers group to help other Naspers companies process online payments. In 2011, PayJar was rebranded to PayU. [39] In 2015, PayU expanded its operations to Nigeria. [40] [41]
In 2011, Ibibo in conjunction with co-founders Nitin Gupta and Shailaz Nag, rolled out a payment gateway, PayU, in the Indian market to permit websites to integrate e-commerce transactions through online payments. [42] [43]
PayU is a regulated financial institution. It holds licenses from central banks and local regulators. PayU's products include a PCI-DSS certified payment gateway, [44] [45] an anti-fraud system and an online Visa/MasterCard acquirer. [46] [47] [48]