CURRENT AFFAIRS

Detailed explanation-1: -Online payment company PayU , a subsidiary of Naspers, has strengthened its business in India with the acquisition of digital payments firm Wibmo for $70 million (Rs 484 crore).

Detailed explanation-2: -NEW DELHI: Digital payments facilitator PayU Friday said it has acquired US-based financial technology firm Wibmo for $70 million (about Rs 484 crore), that will help the company scale-up its business. Under the agreement, PayU and Wibmo businesses will continue to run separately.

Detailed explanation-3: -Best e-Gateway Payment Online with AREION Payment Gateway - Wibmo.

Detailed explanation-4: -India, which is driving the global digital economy, has already clocked about 70 billion digital payment transactions in 2022-the highest in the world.

Detailed explanation-5: -Competitors of Wibmo include Entersekt, Prove, Riskified, Saffe Payments, EverC and 7 more.