SA-based technology giant Naspers is expanding its presence in Asia.
PayU CEO Laurent le Moal said the investment was PayU’s “first step towards expansion in the Southeast Asia region”. Naspers said the deal brought PayU’s total investments in fintech, including mergers and acquisitions, to more than $700m over the past three years. PayU agreed to buy Turkish digital payments company Iyzico for $165m in its biggest fintech acquisition to date.
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