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IndustryUpdate

Western Union completes Speedpay sale APPOINTMENTS

The Western Union Co. completed the sale of its Speedpay U.S. domestic
bill pay business to ACI Worldwide for approximately $750 million in cash. Indus Insights selects
Speedpay provides electronic bill presentment and payment solutions to Rajit Kavindran
a variety of business sectors in the United States, including utilities, auto
finance, mortgage, consumer finance, insurance, telecommunications and Indus Insights, a provider of
government finance. Additionally, Western Union completed the sale of machine learning and data science
Walletron, a provider of mobile bill presentment solutions, to ACI Worldwide services, hired seasoned financial
for undisclosed terms. services and analytics executive
Rajit Kavindran as senior direc-
tor to lead the company's newly
opened U.S. offices. Some of
America's most innovative fintech
firms, credit card issuers, and alter-
nate lenders have chosen Indus
Insights as their data science part-
ner, the company stated, adding
that the opening up of U.S.-based
delivery centers with Kavindran at
the helm is another step in Indus
Insights' rapid growth.

Lionel van der Walt
joins PayCargo

PayCargo LLC, which operates a
patented online payment system
in the global freight industry that
provides overnight settlement of
invoices, appointed Lionel van der
Walt as its president and CEO The
Americas. A veteran of the air cargo
industry with more than 20 years
of international executive leader-
ship experience, van der Walt will
replace Eduardo Del Riego, who
will become the company's new
Global CEO, effective July 1.

US Capital Global taps
Pankaj Vashisth

Pankaj Vashisth joined US Capital
Global as vice president. US Capital
Global provides debt, equity, and
investment products to lower middle
market companies and investors, using
the latest fintech and regtech innova-
tion. Vashisth brings over 20 years
of experience managing global teams
at Fortune 500 companies and has
a proven track record of combining
insightful business analysis with in-
depth knowledge of strategic planning
and executive leadership, US Capital
noted.

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