The Digital Payment Provider: Anirban Mukherjee, CEO, PayU Its payments business is one of the largest, fastest growing and profitable businesses in India among non-banking players
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
PayU is India's leading online payment solutions provider, aiming to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers (merchants, banks, and consumers) through technology. It provides payment gateway solutions to online businesses through its cuttingedge and award-winning technology.
So far it has empowered 5 lakhs+ businesses, including leading enterprises, e-commerce giants and SMBs. Its payments business is one of the largest, fastest growing and profitable businesses in India among non-banking players.
Delving on the strategy front, Anirban Mukherjee, CEO, PayU says, "We are strategically diversifying our credit business, expanding into mid and small business payments, and outlining plans to expand our Third- Party Service offerings on a global scale. Our expansion framework is grounded in three pillars: Grow Core, Build New, and Invest or partner to construct a comprehensive and diversified business model that not only fosters high growth but also maintains healthy profitability margins. We anticipate significant opportunities to contribute to Digital India initiatives, particularly in areas such as credit on UPI, crossborder payments, and merchant lending, aligning seamlessly with our overarching strategic objectives."
India's financial services sector is poised for remarkable growth, with industry forecasts indicating a substantial expansion in the total addressable market (TAM) for digital payments and lending. By 2030, the TAM for digital payments is expected to grow 4X, while for lending, it is forecasted to grow 7X. Capitalizing on this promising outlook, PayU's expansion strategies are deeply rooted in India's thriving fintech ecosystem, leveraging the country's significant growth potential in financial services.
Talking about future plans, he says, "PayU's diversification strategy focuses on building an interplay between our Payments, PSP, and Credit businesses, requiring patience and a commitment to long-term execution plans."
Factsheet:
Year of inception: 2011
No. of employees: 3000+
