PayU raises Mindgate stake to 70% as it explores UPI credit for merchants
PayU is deepening its bank-facing UPI infrastructure through Mindgate Solutions while exploring credit lines on UPI and a RuPay credit-card partnership, subject to RBI rules. The company is targeting profitable SMB payments and lending growth across its 450,000-plus Indian merchants.
PayU is exploring UPI credit lines and a possible bank partnership for RuPay credit cards, subject to RBI rules. It raised Mindgate ownership to 70% to deepen bank-facing UPI infrastructure, while targeting profitable SMB merchant payments and lending growth.
Why this matters
The move follows PayU’s reported $18M FY26 operational profit and 25% share of India online payments, alongside $781M revenue that helped Prosus’s India ecosystem reach EBITDA profitability.
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