PayU India Internet Pvt. Ltd, which offers digital payment solutions under the PayUmoney brand, has appointed Sachin Singhal as head of its consumer business, it said in a statement.
Singhal, who previously worked with Bharti Airtel, will be responsible for forming strategies to take the firm’s consumer business to the next level, the company said.
“The consumer business aims at unifying Indian banking services with latest fin-tech innovations by PayU and create a paradigm shift in the way banking and payments are done in India,” it said.
At Bharti Airtel, Singhal led channel marketing and mobile internet operations. He also led initiatives such as One Touch Internet, Airtel Zero and Wynk Movies. An alumnus of IIT Delhi and IIM Ahmedabad, Singhal started his career as a consultant at PricewaterhouseCoopers. He also worked with mobile internet firm One97 Communications Ltd, which runs mobile commerce and virtual wallet property Paytm, and online auction platform Tradus which was acquired by South African media group Naspers in 2007.
PayU India was started in 2011 as a unit of Gurgaon-based Ibibo Group, which is controlled by Naspers. In February 2014, Ibibo hived off PayU India to Naspers for a stake in the global payments business of the Cape Town-based conglomerate.
PayU India recently got the in-principal approval from the Reserve Bank of India (RBI) to set up and operate Bharat Bill Payment System (BBPS). BBPS is an integrated bill payment system, offering multiple payment modes to customers through a network of agents.
PayUmoney’s clients include Goibibo, Snapdeal, BookMyShow, Jabong, Freecharge, Domino’s, redBus and Micromax. It competes with Paytm and MobiKwik, among others.
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