PayU acquires Wibmo for USD 70 million

PayU, Digital security and payment facilitator has acquired Wibmo, a US-based financial technology for USD 70 million to assist the company scale-up its business. Under the agreement, Wibmo will continue to serve all of its clients as a wholly-owned subsidiary of PayU. The accession integrates PayU’s strong merchant network and? Wibmo’s ?leadership for digital transaction security solutions to offer payments solutions in India for growth markets.