In a strategic move to expand its footprint in the digital payments sector, PayU, the fintech arm of Prosus, has acquired a 43.5% stake in Mindgate Solutions, a leading provider of real-time payment technology. The deal is expected to bolster PayU’s position in India’s digital payments market while enabling Mindgate to scale its global presence. Notably, Mindgate’s founders will retain majority ownership.

The partnership comes at a time when India’s Unified Payments Interface (UPI) continues its rapid expansion, with the National Payments Corporation of India (NPCI) setting a target of processing 100 billion transactions per month by 2030.

Mindgate, which powers real-time payment infrastructure for major Indian banks, will play a crucial role in enhancing PayU’s digital payment capabilities, both in India and internationally. Anirban Mukherjee, CEO of PayU, stated that the investment aligns with the company’s strategy to scale Indian payment technologies for global markets.

“Mindgate’s expertise in real-time payments complements our mission to enhance digital transaction infrastructure for banks, merchants, and consumers worldwide,” Mukherjee said.

Mindgate processes over 8 billion transactions monthly and provides payment solutions to banks across India, the Middle East, Southeast Asia, and Europe. A key player in UPI’s development, the company has been instrumental in handling high-volume transactions and ensuring seamless digital payments.

George Sam, Co-founder of Mindgate, emphasized that the partnership will accelerate Mindgate’s global expansion and strengthen its role in developing secure and scalable payment solutions.

With PayU operating under RBI regulations in India and serving over 500,000 businesses, the acquisition aligns with its broader fintech strategy. As digital payments evolve, the PayU-Mindgate collaboration is expected to drive innovation in real-time payments, empowering banks and businesses to meet growing consumer demands.