Edited excerpts from the Press Release: TA Associates, a leading global growth private equity firm, today announced it has acquired a minority stake in BillDesk,India’s largest online payment services company. Dhiraj Poddar, Director, TA Associates Advisory Pvt. Ltd., will join the company’s Board of Directors. Founded in 2000, BillDesk partners with multiple banks, card issuers, service providers and merchants in providing electronic bill presentment and payment and online payment services in India. Today, BillDesk’s network is used by over 50 of India’s largest banks and by large merchants across diverse industry segments, including utilities, telecom, insurance, mutual funds, travel and e-commerce. “While India is today dominated by paper-based transactions, electronic transactions are quickly gaining favor,” said Naveen Wadhera, Director, TA Associates Advisory Pvt. Ltd.,“There is growing acceptance of online payments by retail consumers, for products and services procured both onl...