PayU wants to give up PPI licences, consumer wallets

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BENGALURU: Naspers-backed digital payment entity PayU is in the process of consolidating all its prepaid payment business under one umbrella and surrender all the other PPI licences it has. PayU wants to position itself purely as a merchant aggregating entity, moving away from the consumer-facing wallet business.

While PayU is returning the licences because of the Citrus acquisition in 2016 which caused them to have multiple licences, the shift towards a pure play merchant busineĀ ..

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