Friday, 23 December 2016

PayPal may buy 25% minority stake in Freecharge

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The online payments industry is at its peak, all thanks to the banning of high denomination notes of Rs 500 and Rs 1000. Payment platforms are in full force to encourage people to use their services and driving the move towards a cashless economy. Heating up competition, global payments platform PayPal Holdings is in the final stages of closing a deal to take a significant minority stake in domestic digital payments platform Freecharge. 

Jasper Infotech is the parent company of Freecharge and online retailer Snapdeal. The deal could see the sale of a 25 percent stake for around USD 200 million, two people aware of the development said on condition of anonymity.

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