The deal, pending regulatory clearances from the Competition Commission of India (CCI) as well as a provisional nod from the Reserve Bank of India (RBI), will mark the consolidation at a time when more Indians are using online modes of payment triggered by the ongoing pandemic.
BillDesk handles 50-60 per cent of billing transactions in India, according to industry estimates. After the acquisition, the combined entity of BillDesk and PayU will emerge as an online payment provider both globally and locally with an annual total payment volume (TPV) of USD 147 billion.
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