PayU purchases CredibanCo's Ding

Wednesday 13 April 2022 15:18 CET | News

The PayU payment gateway has closed an agreement with CredibanCo to acquire Tecnipagos SA, which operates under the Ding brand, a company specialised in deposits and electronic payments, according to Forbes.

The parties did not disclose the value of the transaction, but it is known that Tecnipagos has assets of USD 14.2 billion, below Dale! of Grupo Aval, Pagos GDE, and Movii, other entities supervised by the Financial Superintendence that operate under that figure.

With this acquisition, PayU, which is present in more than 50 markets globally, aspires to include complementary financial services to its online payment offer, where it has a significant market share amid growing competition.

The closing of the transaction is subject to the respective approval of the relevant Colombian authorities in matters of financial supervision and competition, among other usual conditions.

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Keywords: acquisition, payment gateway, online payments
Categories: Payments & Commerce
Companies: CredibanCo, Ding, PayU
Countries: Colombia
This article is part of category

Payments & Commerce






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