In a significant move, Anirban Mukherjee, the Chief Executive Officer (CEO) of PayU India, has been promoted to the role of global CEO of PayU. This move signals a strategic shift within PayU to concentrate on its Indian operations and adapt to the rapidly evolving digital payments landscape in the country. Laurent Le Moal, the current Global CEO, will transition to an advisory role within the company.
Anirban Mukherjee will be taking over from Laurent Le Moal, who has decided to step back from the day-to-day operational management of the business. However, Le Moal will continue to be involved with Prosus and PayU in an advisory capacity.
Anirban Mukherjee, New Global CEO
Anirban Mukherjee’s appointment as Global CEO signifies PayU’s commitment to a more India-centric strategy. India’s digital payments sector is experiencing unprecedented growth and innovation, driven by progressive regulatory reforms. With this change in leadership, PayU aims to capitalize on the abundant opportunities presented by this dynamic landscape.
Responsibilities of Anirban Mukherjee as New Global CEO
In his new role as Global CEO, Anirban Mukherjee will be entrusted with the overall business operations of PayU on a global scale. His reporting line will directly lead to Ervin Tu, the interim CEO of Prosus and Naspers, the parent company of PayU. This move signifies a pivotal moment in PayU’s journey as it gears up to shape the future of the global digital payments industry.
PayU’s Presence in India
PayU India claims to serve over 450,000 merchants, work with more than 70 large banks through its paytech platform called Wibmo and provide credit facilities to over 2 million customers in India. The company’s business in India continues to grow and it plays a vital role in the country’s dynamic fintech sector.
Digital India Initiative
PayU sees the Indian government’s Digital India initiative and the forward-thinking regulations of the Reserve Bank of India (RBI) as significant opportunities for its growth. The company aims to build a robust fintech presence in India, capitalizing on these favourable factors.
Prosus, the parent company of PayU, has played a crucial role in the growth of PayU. Anirban Mukherjee, in his role as global CEO, will closely collaborate with Ervin Tu, the Interim CEO of Prosus and Naspers, as PayU enters the next phase of its journey in India and Southeast Asia.
Prosus’s payments and fintech segment has been impressive growth, with a consolidated revenue increase of 52 percent to $903 million in the fiscal year 2023. PayU is also experiencing accelerated growth in Southeast Asia and is excited about the opportunities for further innovation and expansion in this region.