PayU buys 43.5% stake in Mumbai-based Mindgate Solutions

PayU, the payments and FinTech business of Prosus, has acquired a strategic stake in Mindgate Solutions, an expert in real-time payments technology. The move is in line with PayU’s plans to expand its presence in India’s real-time payments sector while leveraging Mindgate’s expertise in driving digital payment innovations globally.

As part of this deal, PayU will acquire a 43.5% stake in Mindgate, while the company’s founders will retain majority ownership.

This investment enables PayU to contribute to the ongoing revolution in India’s digital payment landscape, driven by instant payment systems like UPI, developed by the National Payments Corporation of India (NPCI). As NPCI continues to expand UPI both domestically and globally, with a vision to process 100 billion transactions per month in India by 2030, Mindgate plays a vital role by providing the end-to-end real-time payment infrastructure stack and expertise for several leading banks in India.