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PayU reported over 400 million transactions in FY17

Naspers has said that its payments business PayU recorded over 400 million transactions during the financial year ending 31st March 2017, processing a total payments volume (TPV) of over $16 billion, up 36% year on year. Six of the 17 markets where PayU is operational reported "operational growth of over 50%", Naspers said in its annual report. PayU claims over 300,000 merchants globally. The company hasn't released India specific data in the report. Average daily transactions for the company grew to 1.6 million from 0.9 million, up 72% overall, due to the addition of Citrus Pay to the business in September 2016. Without Citrus Pay, average daily transactions for the company would have grown by 49%: we calculated, and that's around 1.341 million per day, without Citrus Pay. Thus, it seems that the Citrus Pay acquisition added around 0.259 million transactions per day to the business, though the numbers from Citrus being taken into account are only from November 2016 to March 2017. PayU had bought 100% stake in Citrus Pay last year for a total of $112 million, with an additional $18 million as "employment-linked prepayment". The purchase price allocation, according to Naspers: "net debt $1 million; net working capital $2 million; intangible assets $ 15 million; deferred tax liability $5 million and the balance of $105 million to goodwill. The main classes of intangible assets recognised in the business combination were trademarks, customer bases and technology." With Citrus, PayU recorded a revenue of $186 million for the year, up…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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