The deal is expected to be valued at $50 Mn-$60 Mn
Wibmo offers digital payment technology solutions
PayU is doubling down on emerging fintech markets
Naspers-owned fintech company PayU is looking to dominate the entire payments process as it is in talks to acquire Bengaluru and Cupertino-based Wibmo that specialises in processing online payments.
The deal is reportedly expected to be at $50 Mn-$60 Mn. Led by Govind Setlur, Wibmo offers its digital payment technology solutions and payment security in multiple countries including India. The company also offers 3D secure process of digital payments, which is the page where customers are asked to punch in their passwords or one-time passwords (OTPs) to authenticate digital transactions.