PayU

So it was very insightful.

There was PayU and then of course now there was in fact the PayTM in some particular format at that point in time, which had similar business models.

There were immense players, but it is always survival of the fittest.

So I think that is exactly what has happened now.

I mean, the level of financial inclusion that has occurred as a consequence of the rise of fintechs, of real-time networks, of many other things across the emerging world is phenomenal.

We've now entered a phase, and this is interesting, where I think many of the companies, companies like ours, companies like Mercado Pago, PicPay in Brazil, all the Indian fintechs, Razor, PayU, et cetera, and the same happens market by market, begin to become systemically relevant.

You have billions of consumers globally whose access to financial services has come not from a traditional bank, but through a fintech.

So now the regulators are understanding that they do need to start bringing all of these companies, many of which have graduated to be sizable companies, increasingly under more stringent regulatory oversight.

Uh, you pay 664, you get around 820 of Tencent, and then you get everything else.

iFood, uh, uh, Jet, OLX, PayU, all of those bits, free.

Just Eat Takeaway, that's Jet.

When I say Jet, Just Eat Takeaway.

Uh, it's tough, but they're still the dominant player there, so they'll be fine.

iFood's also diversifying non-food delivery, uh, growing almost 50% and 40% of revenue.

And the rest of portfolio, OL- O- OLX, which is their, uh, uh, classifieds gr- growing profitably, uh, Despegar growing 20%, PayU profitable scaling.

So Process is consciously trading short-term profitability for growth in, in Jet, uh, Just Eat Takeaway, and iFood.

Apple is rolling out Apple Pay in India, initially supporting Access Bank Visa and MasterCard credit cards.

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