PayU acquires strategic stake in payments platform Mindgate

Payment service provider PayU has acquired a strategic stake of 43.5 per cent in digital payments platform Mindgate Solutions to expand its presence in real-time payments space in India. As per the deal, the majority ownership of Mindgate will remain with the company’s founders including Guhan Muthuswamy and George Sam. With the current investment, PayU aims to leverage Mindgate’s payment solutions for banks, government institutions, merchants, and corporates to strengthen its focus on real-time payments.