Thu. Mar 28th, 2024
BillDesk

Domestic payment gateway BillDesk yet again entered the market scanning for customers after its promoters tried to sell it unsuccessfully a couple of years ago. However, this time, all the BillDesk promoters are striving to sell-off the whole business in a concern of a fast-growing competition in the country’s digital payment services space and flourishing e-commerce industry.

As per some internal sources, it has been confirmed that at least eight investment bankers have been invited by BillDesk promoters and the company’s single largest shareholder General Atlantic for negotiations on shortlisting a suitor.

BillDesk was established in 2000 by M.N. Srinivasu, Ajay Kaushal and Karthik Ganapathy.

The payment services industry has drastically emerged over the past year with consumer-facing opponents like PayTM, Google Pay, PhonePe, MobiKwik, JioPay and other UPI-based digital payment businesses viciously competing with each other by not only offering online payment facilities but also a wide range of e-commerce services.

Bill Desk acquires its value from its comprehensive roster with over 80 billers, which the company has designed in two decades. The firm manages over $60 billion worth of transactions every year and is the largest payment gateway company in India.

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