The acquisition can help Patym, the Indian e-commerce payment system to further enhancing its user and merchant interfaces.
New Delhi, Jan 20, 2020 (Issuewire.com) - The digital payments company Paytm is in talks to acquire the online payments provider PayWush according to an undisclosed source.
PayWush.com has shown some interest in the acquisition plans but nothing much is officially heard till now, said two people aware of the matter. If the transaction goes through it will be one of the largest acquisition by the Vijay Shekhar Sharma-led company. "The Paytm board is in the process of finalising the contours of the deal," said one among them who said on the condition of being anonymous due to obvious reasons.
"There is still a chance that the deal may fall through as the board deliberates on the pros and cons of the transaction," the person added. However, there has been no official confirmation from any of these companies, and our calls to both of them went unanswered.
PayWush.com has already received investments from different sources and it has plans to expand its operations as well. PayWush has seen 40 to 50% revenue growth in the last year. The company is expected to cross 300,000 transactions per week and users are becoming more reliant on the platform.
The acquisitions seem to be in line with Paytm's strategy of becoming the biggest digital wallet. Paytm is planning to leverage PayWush's expertise in catering intuitive user interface to its customers.
About PayWush.com
PayWush.com is the leading online payment service provider with over a thousand businesses using its intuitive and easy to use payments platform. Built with simplicity, ease of use in mind along with years of research and development shows that the number one reason why people avoid online transactions is that they find the software to be too complex and difficult to use. The platform has already gone through 300,000 transactions and its focus is on empowering people through financial services and creating a world without financial boundaries where everyone can prosper.
For more information, Please visit www.paywush.com
About Paytm
Paytm is an Indian e-commerce payment system and financial technology company based out of Noida, India. Paytm is a company operating a mobile payment and commerce platform. It offers payments, banking, lending and insurance services to consumers and merchants. The Company offers online use-cases like mobile recharges, utility bill payments, travel, movies and events bookings, as well as in-store payments at grocery stores, restaurants, parking, tolls, pharmacies and education institutions with the Paytm QR Code.
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PayWush.com : Payment Gateway Provider
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