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Expanding into Consumer Payments:
PayU, a Naspers-backed fintech, is set to grow its consumer payments sector using the LazyPay app. While merchant payments will remain central, PayU aims to develop a full-stack consumer payments and credit business. -
Building a Consumer Brand:
PayU plans to build a consumer brand around LazyPay, evolving from a B2B model to a B2B2C platform, serving merchants, financial institutions, and consumers. -
Full Stack Fintech Firm:
PayU has transitioned from online merchant payments to a comprehensive fintech entity. Acquisitions like Paysense, LazyPay, and Wibmo have broadened its service offerings in India. -
Unified Branding:
Major sub-brands under PayU, including LazyPay and Wibmo, will eventually be unified under the PayU brand, streamlining operations and brand identity. -
Future Expansion:
PayU is eyeing wealth management and insurance distribution. It holds a 30% stake in the wealthtech startup Fisdom and is exploring cross-border payments through investments in BriskPe. -
Regulatory Developments:
PayU anticipates future regulations that could allow non-bank lenders to tap into credit opportunities on the Unified Payments Interface (UPI). -
IPO Plans:
PayU is working towards a public listing. Although a timeline hasn’t been set, the company has made progress by establishing an independent Indian business with its own governing board. -
RBI Approval:
PayU has received in-principle approval from the RBI to operate in India as an online payment aggregator and is progressing towards full approval.