Public Notice – Proposed Acquisition of Worldline ePayments India Private Limited by IndiaIdeas.com Limited (BillDesk)

This public notice is hereby given jointly by Worldline ePayments India Private Limited (“WEIPL”) and IndiaIdeas.com Limited (“BillDesk”) to the general public, customers, merchants, agents, vendors and all other interested stakeholders pursuant to Paragraph 4 (ii), Annex 1 read with Paragraph 3 (i), Annex 1 of the Direction titled “Requirement for obtaining prior approval in case of takeover / acquisition of control of non-bank PSOs and sale / transfer of payment system activity of non-bank PSO” issued by Reserve Bank of India dated  July 4, 2022 (RBI/2022-23/80 CO.DPSS.POLC.No.S-590/02-14-006/2022-23).

WEIPL, a non-bank Payment System Operator (PSO) holds certificates of authorisation, to operate as a: (a) Payment Aggregator – Online; (b) Payment Aggregator Cross-Border (facilitating Inward & Outward transactions); and (c) Bharat Bill Payment Operating Unit, issued by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007 and conducts business under such authorisations. 

The shareholders of WEIPL (namely, Worldline e Commerce Solutions BV/SRL and Retail International Holding S.A.S. (“Sellers”) have signed a Sale and Purchase Agreement with BillDesk. Under the agreement, BillDesk has agreed to acquire 100% of shares of WEIPL from the Sellers (the “Transaction”).

The purpose of the Transaction is to build robust synergies across payment channels, partnerships, modes and enterprise capabilities between the two entities. Upon consummation of the Transaction, there will be change in control, shareholding, change in composition of the Board of Directors and change in management of WEIPL.

There will be no disruption to the ongoing services provided to existing merchants, customers, or agents. All operations of WEIPL will continue to be managed in strict compliance with applicable laws and regulations.  The Transaction is expected to be completed no earlier than 15 days from the date of this notice.

A copy of this notice is also available on the WEIPL’s website at www.worldline.com/india and on the BillDesk’s website at www.billdesk.com.