PayU, the payments and fintech business of Prosus, has acquired a strategic stake in Mindgate Solutions, a real-time payments technology.
As a part of this deal, PayU will acquire a 43.5% stake in Mindgate, while the majority ownership will remain with the company’s founders.
Mindgate plays a vital role by providing the end-to-end real-time payment infrastructure stack and expertise for several leading banks in India. This partnership will enable banks and merchants to meet the evolving needs of consumers through enhanced payment options, higher operational efficiency, and increased revenue opportunities.
Founded in 2008 by George Sam and Guhan Muthuswamy, Mindgate processes over 8 billion digital transactions monthly through its partner banks, facilitating payments worth $1 trillion annually. With a strong presence in the Middle East and a growing footprint in Europe, the UK, ASEAN, and the US, Mindgate is a trusted technology partner for leading banks globally.
Mindgate’s expertise will complement PayU’s extensive international network through Wibmo its Paytech business Wibmo, accelerating global adoption of real-time payment technologies. This strategic collaboration will empower banks, businesses, and merchants with innovative, scalable, and secure payment solutions, ensuring a seamless transaction experience for users across global markets.
George Sam, Co-founder & Business Head, Mindgate Solutions said, “Our partnership with PayU is a significant milestone in Mindgate’s India & Global Expansion journey, combining our proven expertise in real-time digital payments with PayU’s extensive market reach. With a strong foundation in powering high-volume transactions and enabling seamless UPI experience, Mindgate is well-positioned to drive the next wave of innovation in digital payments. This collaboration will enhance secure, scalable payment solutions for banks, businesses, and merchants, strengthening our role as a leading player in the evolving global payments landscape.”
“We are thrilled to join hands with PayU, whose global expertise and commitment to innovation align perfectly with our vision. This collaboration is a testament to the transformative work we’ve done and the exciting future ahead,” added Guhan Muthuswamy, Co-founder & Software Architect, Mindgate Solutions.
Anirban Mukherjee, CEO, PayU said, “Through this investment, we are reinforcing our commitment to scaling ‘Made in India’ payment technologies for the global stage. Mindgate’s expertise in real-time payments complements our mission to drive the next generation of digital payment innovations. Together, we will enhance the infrastructure that supports seamless financial transactions, delivering exceptional value to banks, merchants, and consumers worldwide. This investment is also consistent with our efforts to support the Indian Fintech ecosystem by investing in promising founders and helping them build world class platforms.”
