FinTech news in prosus category

The move to terminate the deal has come as a surprise to many direct stakeholders, including BillDesk founders and many of its investors, people familiar with the situation said, who requested anonymity commenting on the failure of India’s biggest payments deal. Prosus indeed now believes the payments market in India has shown cracks in recent quarters and did not wish to go forward with honoring last year’s arrangement, two people familiar with the matter told journalist. The deal would have allowed Prosus, which already owns fast-growing PayU, to dominate the market of payments processing in India. Prosus shares remained largely unchanged on the announcement Monday, indicating that investors don’t think not having BillDesk will materially hurt Prosus.