BillDesk to acquire Worldline India payment businesses

Mumbai: Digital payments company BillDesk has entered into a definitive agreement to acquire the India payment businesses of French payments firm Worldline, the company said in a statement on Tuesday.

This comes nearly 10 months after Mint exclusively reported that Worldline had initiated a process to explore a potential sale of its India operations as part of a broader global restructuring.

The company had mandated its bankers to evaluate strategic options, including a divestment, amid efforts to exit non-core geographies and improve profitability following muted global growth and repeated profit warnings.

Billdesk did not disclose the size of the transaction.

The transaction also aligns with a broader consolidation wave in India’s fintech sector.

Mint earlier reported, citing Kotak Investment Banking, that fragmented markets and weak profitability are pushing venture-backed fintech firms toward mergers and acquisitions to achieve scale and sustainable margins.

BillDesk said the deal will merge its online aggregation business with Worldline India’s offline merchant network and bank switching infrastructure.

The combined entity will offer integrated payment services across digital transactions, recurring mandates, cross-border payments, and in-store acceptance through point-of-sale terminals and QR-based systems, the company said.

The acquisition is expected to deepen BillDesk’s presence in regional markets and strengthen merchant distribution, particularly among mid-sized businesses expanding their digital payment adoption.

“This transaction is a forward-looking investment in India’s payments ecosystem,” said M.N. Srinivasu, co-founder of BillDesk, in the statement, adding that the integration would help deliver a more connected payments experience for banks, enterprises and merchants.

Mint had earlier reported that an acquisition of this nature could help the acquirer gain scale.

The transaction is subject to customary regulatory approvals and closing conditions. Law firm Shardul Amarchand Mangaldas & Co. acted as legal counsel to BillDesk, while EY served as diligence advisor.

Global turnaround

Worldline's new chief executive officer (CEO), Pierre-Antoine Vacheron, said at an earnings call in April that the company would exit non-performing geographies and segments to revive growth, without sharing details.

"We need to be more selective, given the investment required to address innovation and compliance requirements. This will mean exiting from segments or geographies inherited from past acquisitions and considered as non-core," he said.

Founded in 1970, Worldline is a publicly listed solutions provider for payments companies operating across the globe, including Europe, India, Japan, and the US.

It launched the turnaround plan in February, focusing on tightening cost controls, pruning its portfolio, and emphasizing free cash flow improvements.

Worldline has also appointed banking advisors to sell its Mobility and e-Transactional Services (MTS) business, Reuters reported in November 2024. In December that year, Reuters reported that the company was attracting early-stage takeover interest from private equity firms, including Bain Capital. However, Bain later denied evaluating Worldline.

The company's erstwhile CEO, Gilles Grapinet, stepped down in September 2024, as it issued its third profit warning within a year. Vacheron was later appointed as CEO, from 1 March.

In the March quarter of 2025, Worldline's revenue stood at €1,068 million, down 2.3% year-on-year. It reported muted growth in 2024, with revenue of €4,632 million, up 0.5% year-on-year in organic terms, and a net loss of €297 million. It follows the calendar year as the financial year.