Prosus said in its annual report that PayU’s top line growth was fuelled by continued growth in enterprise and SME businesses, as well as diversification into newer segments
PayU’s revenue growth slowed in FY23 compared to over a 40% jump it saw in its revenue in FY22
On a consolidated basis, PayU’s revenue grew 32% to $903 Mn in FY23 globally
Prosus-owned PayU India registered a 31% year-on-year (YoY) rise in total revenue to $399 Mn in FY23, as per the annual report of the investment arm of South African multinational Naspers.
Prosus said in its annual report on Tuesday (June 27) that PayU’s top line growth was fuelled by continued growth in enterprise and small and medium-sized businesses, as well as diversification into newer segments, including government merchants, omnichannel and other non-MDR (merchant discount rate) products.
However, it must be noted that the growth was slower compared to over a 40% jump in revenue that the…