According to an ANI report: Singhal will be responsible for designing effective business strategies and bring in growth by taking the company’s plans to diversify the consumer business to the next level.
The inception of the consumer business category roots back to the recently announced partnership between PayU and India’s leading bank IndusInd, to redefine the digital experience for Indian consumers, by bringing the full suite of consumer banking products online and powering the same through payment innovations and online eco-systems enabled by PayU, says the ANI report.
The Consumer Business category would aim at unifying Indian banking services with latest Fin-tech innovations by PayU and create a paradigm shift in the way banking and payments is done in India.
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.
Commenting on the new appointment, CEO and Co- Founder PayU India, Nitin Gupta was quoted by ANI as saying, “At this stage of our growth in our business, it was imperative to bring on board someone with a vision and entrepreneurial passion. Sachin brings valuable industry knowledge and experience to PayU India which will help us design effective business strategies and more innovative solutions for our consumers and help PayU grow its presence.”
“I am looking forward to expanding the existing consumer base of PayU’s business in the country by leveraging PayU’s innovative product range and strong tech abilities. We will continue to build strong relationships with banks and bring out products which will largely impact the Indian online payment space,”Singhal was quoted by ANI as saying.
Sachin joins PayU India with over a decade long experience in business and technology. During his last stint with Bharti Airtel, he led the channel marketing and mobile internet growth. He also led some of the major innovations in Mobile Internet at Airtel, like One Touch Internet (which won MWC GSMA 2015 award for best consumer mobile application), Airtel Zero (sponsored data platform), Wynk Movies.