Rao will be responsible for overseeing risk management, regulatory compliance and strengthening the organisation’s financial and operational risk framework, the company said in a statement on Wednesday.
Prior to PayU Rao, who has spent close to three decades in banking and the telecom industry, was the fraud management head at Axis Bank. He also held senior positions at Vodafone Idea, Citibank, IDBI Bank, ICICI Bank and HSBC.
“His extensive experience in financial security, regulatory compliance and fraud prevention will be key to enhancing our risk framework and ensuring seamless, secure transactions for our customers,” said Anirban Mukherjee, CEO, PayU.
The appointment comes at a time when PayU has been going through a leadership churn. Senior executives such as Vijay Agicha and Suresh Rajagopalan recently resigned as chief investment officer and CEO of PayU’s group entity Wibmo, respectively.
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PayU has also made several senior level appointments, with Pranav Pandya joining as its chief compliance officer, Dimple Mehta as company secretary and Rahul Bharadwaj as head of operations. It also appointed Ashok Patil as chief risk officer for its credit business.
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The merchant payments company is in the process of emerging as a larger fintech platform with operations across consumer payments, credit and merchant services.
