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PayU ties up with analytics firm Equifax; questions, questions

Naspers-backed PayU has partnered with analytics firm Equifax to study users' transactional behavior. Both the companies said that this association would "enable financial institutions to get an insight into their consumers’ transactional behavior" but do not specify if this data would only be provided to PayU and/or other companies. MediaNama was unable to get a clarification from PayU on the nature of the tie up, the sort of analytics and other queries despite repeated attempts to contact the company. We will update this story when we hear from PayU. Equifax provides data analysis to financial institutions while looking at new-to-credit customers. This will help PayU India speed up its consumer credit business, an area it has recently ventured into. Earlier in September, it secured an NBFC license from the RBI, and set up a new vertical 'PayU Credit'. PayU India earns only 2% of its revenues from its lending business, even though it accounted for 47% of PayU's total payments revenue in FY18 (pdf, see pg 15).  In FY18, PayU India reported an 84% year-on-year jump in total payments value (TPV) in India. PayU processed 650 million transactions globally with a TPV of $25 billion. However, the company did not specify number of transactions carried out in India. Also read: PayU reported over 400 million transactions in FY17 PayU India metrics PayU claims to cover 60% of the airline business payments, and 90% of ecommerce payments It claims to process payments of Rs 90,000 crore annually Counts Amazon, BookMyShow and Ola as clients…

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