PayU appoints Arvind Agarwal as CFO for its India Payments Business

PayU announced today that it has appointed Arvind Agarwal to the position of Chief Financial Officer, effective immediately. Mr. Agarwal will be responsible for managing all aspects of PayU’s global accounting, tax, and treasury functions as well as PayU’s India payments business. He joins PayU from one of India’s leading consulting firms, KPMG.

Mr. Agarwal was most recently the Group Financial Controller at KPMG. He also served as a member of the audit committee at KPMG for seven years, during which time he led several significant assignments for clients including ICICI Bank and HDFC Bank. Before that role, he worked as an Audit Manager at PricewaterhouseCoopers (PwC) for over seven years in various industries including IT services and retail finance in India and abroad.

Mr. Arvind Agarwal has been appointed to this position with immediate effect. He will be based in Mumbai and report directly to Mr. Sunil Bharti Mittal, Chairman, and MD of PayU. Commenting on the appointment, Mr. Mittal said: “I am delighted that an experienced professional like Arvind Agarwal has joined our team as CFO. His expertise in the field of finance will be a great asset to us as we continue to expand our operations across the country.”

Agarwal will lead the India payments business, which includes PayU’s retail platform and its mobile wallet service. He has been with PayU since 2007 and most recently served as head of accounting, treasury, and internal audit. The company said that Agarwal’s appointment comes on the heels of its recent expansion into South Asia, including India and Bangladesh. PayU is a digital payments platform that allows users to send money to their friends and family members in the U.S., Canada, Europe, and the Middle East via their smartphones or computers. It also provides a digital wallet for storing cash and cards for use at stores such as McDonald’s and American Express.

PayU, the digital payments company, has today announced the appointment of Arvind Agarwal as Chief Financial Officer of its India Payments business. Mr. Agarwal will be responsible for managing all financial aspects of the business, including forecasting and budgeting. He will also be responsible for ensuring that PayU’s operations are in line with its strategic objectives and global best practices.

Mr. Agarwal was most recently CFO for Flipkart and before that he held various positions at Citibank including Head of Strategic Planning and Head of Human Resources. He has also worked at McKinsey & Company in New York as a consultant on corporate strategy and performance management in retail businesses.

Mr. Agarwal holds an MBA from Kellogg School of Management at Northwestern University in Chicago where he was awarded the prestigious Baker Scholar Award by the class of 2010.” I am excited to join PayU as it continues its growth by offering a better value proposition to customers around India,” said Arvind Agarwal.”PayU is one of India’s most valuable brands and is well positioned to expand further into other parts of Asia,” he added. Agrawal has over 15 years of experience in the payments industry, having worked for Citibank, HDFC Bank, and ICICI Bank. He has also been a member of the Board of Directors at Accenture for five years.