This Gurgaon-based startup processes half a billion dollars every month

PayUBiz, an Indian payment gateway aggregator has hit a total processed value (TPV) of half a billion dollar per month. It currently has more than 10,000 merchants from multiple industry verticals.

“We have been continuously expanding our industry portfolio such as E-commerce, Airlines, Education, Utilities, etc. which has also been fueled by our strong relationships with resellers and banks,” Rahul Kothari, Business Head at PayUBiz said.

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“Our ambitions go beyond this feat and intend to hit a billion dollar mark in processed value in the next one year. The growth will be organic and will also come from new lines of businesses - offline, payment products, risk solutions and global business”, Kothari added.

PayU has introduced several initiatives in the payment industry including dynamic switching for routing transactions through the healthiest payment gateway for a high transaction success rate, CVV-less transactions, Magic retry and SurePay.

PayUBiz currently caters to 90 of the top 100 ecommerce merchants. Some of itsmerchants include Snapdeal, Jabong, Ola, Bookmyshow, Goibibo, Redbus, Myntra, Foodpanda, Groupon, PepperFry etc.

PayU India was founded in October 2011 and is based out of Gurgaon, India.

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