Prosus-backed fintech firm PayU buys 43.5% stake in Mindgate Solutions

Prosus-backed fintech firm PayU on Thursday said the company acquired a 43.5 per cent stake in payments infrastructure company Mindgate Solutions for an undisclosed amount.

The deal will allow PayU to expand into the real-time payment processing market, including the Unified Payments Interface (UPI).

“As person-to-merchant (P2M) transactions increasingly dominate the payments landscape, constituting nearly 60 per cent of all UPI transactions in India,