PayU, the fintech arm of the South African media and tech conglomerate Naspers has acquired digital payments company Wibmo for $70 million.

Wibmo is a Bengaluru and Cupertino, California based payment security and mobile payment solutions company. It is best known in India for the 3D secure one-time password (OTP) that it generates for almost all major online and mobile payment platforms.

CNBC-TV18’s Syna Dehnugara caught up with Aakash Moondhra, chief financial officer, PayU Global and Govind Setlur, founder and chief executive officer, Wibmo to talk us through the deal and the road ahead.