Shailaz Nag resigns as managing director and co-founder of PayU India : Sources

PayU launches new platform 'PayUnow'
PayU launches new platform 'PayUnow'
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Shailaz Nag, managing director and co-founder of PayU India has resigned from his post, reported yourstory, citing multiple sources.

Nag’s resignation comes merely a week after Jitendra Gupta, PayU India’s other managing director, and co-founder of Citrus, leaves the global digital payments company to start up again in India’s fintech landscape.

Also read: Jitendra Gupta leaves PayU India as managing director

“India is the largest market for PayU globally and we have ambitious plans to strengthen our leadership in the region. After building a clear leader in the payment space, we are heading towards the next phase of growth in India: creating a full regional fintech ecosystem. This is why we are in the process of on-boarding new expertise and talent. We will be making further announcements on this soon,” PayU India stated.

PayU is a fintech-based digital payments startup, emerging from Netherlands, founded in 2002 by group of people. It provides payment technology to online merchants. Also, it allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications.

Whereas, earlier in March 2019, Citrus Pay Co-founder Amrish Rau also moved on from his position as PayU India CEO to leading financial technology partnerships and investments for Naspers, PayU’s parent company.

Further, in February, Naspers-owned PayU officially announced the appointment of Anirban Mukherjee as Chief Executive Officer of PayU India, reporting to Laurent Le Moal, CEO, PayU Global.

At present, PayU Global is planning to disburse credit and financial services for underserved populations in high-growth markets.

Besides, other major players in the digital lending space includes Lendingkart, MoneyTap, LenDenClub, Faircent, and among others.

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