PayU & Citrus Pay agree to a $130M landmark deal in Indian fintech. PayU, the global online payment service provider, announced that Citrus Pay, a leading Indian payments technology player, will become part of its Indian operation. PayU’s $130M transaction is the largest ever M&A cash deal in Indian fintech, demonstrating its payments and financial services expansion strategy.
Citrus Payments is leading the revolution towards mobile and digital payments across all spheres of a consumer’s life. As India’s fastest growing fintech company, Citrus provides consumer payments and mobile banking services. It partners with the top airlines, utilities, marketplaces, and 9000 other merchants to enable seamless, secure payments for 21 million consumers. Citrus is known for introducing industry-first payment solutions such as contextual payments, P2P payments, 1-click checkout, wallet for cabs, consumer analytics, native mobile app payments etc. Few of the credible merchants associated with Citrus are Amazon, PVR, INOX, BookMyShow, ShopClues, Jet Airways, Indigo, GoAir, Faasos, Grofers, ZoomCar, Airtel, etc.
Citrus Payment’s leaders and MDs, Jitendra Gupta and Amrish Rau are at the forefront of driving digital transformations in the Indian financial services space.