August 19, 2022
1 min read

Razorpay buys Ezetap

The Ezetap Team of around 300 employees will join Razorpay and work as an independent business unit…reports Asian Lite News

Fintech services platform Razorpay on Thursday announced it has acquired offline payments services provider Ezetap, becoming one of the few companies globally with a significant online and offline presence in payments.

According to sources, the deal size is around $150-200 million. This marks Razorpay’s sixth and biggest acquisition to date.

The Ezetap Team of around 300 employees will join Razorpay and work as an independent business unit.

“We believe that the businesses of tomorrow will not distinguish between physical and digital channels and will expect a unified payment experience through a single integrated platform,” said Harshil Mathur, CEO and Co-founder, Razorpay.

Ezetap provides software for financial technologies, including point of sales (POS) solutions, billing, loyalty solutions among others, enablingAbusinesses to accept payments in-store and on-delivery.

It currently serves over 500,000 touchpoints, including Amazon and BigBasket, and works closely with banks like SBI, HDFC, ICICI and Axis, among others, processing over $10 billion in annual transactions on its platform.

“We join Razorpay’s suite of products to collectively offer businesses the best-in-class omni-channel payments experience and are excited at the limitless possibilities that together both the companies are looking to explore in the omnichannel payment world,” said Byas Nambisan, CEO of Ezetap.

Prior to this, Razorpay acquired fintech startup IZealiant Technologies, Malaysia-based Curlec, TERA Finlabs, Opfin and Thirdwatch.

With a $80 billion total payment value (TPV) as of April, Razorpay is eyeing a 10-12 million merchant base by next year.

ALSO READ: India’s demand for yellow metal rebounds

Previous Story

Indian, Malaysian Navy Chiefs discuss maritime security

Next Story

India develops new face recognition system

Latest from Business

India’s Millionaire Wealth Surges

Strong equity markets and investor optimism around artificial intelligence (AI) played key roles in bosting returns and overall wealth creation India recorded a robust 8.8 per cent rise in high-net-worth individual (HNWI)

IMEC Touted as Game-Changer for India’s Growth

The event brought together experts from the governments, academia, industry and private businesses across the globe…reports Asian Lite News The India-Middle East-Europe Economic Corridor (IMEC) has the potential to be a “game-changer”

Accel Puts India’s AI Power in the Spotlight

Under the theme “Engineering India’s AI Advantage,” the exclusive, invite-only event will bring together leading AI founders, researchers, tech CXOs, policymakers, and global investors….reports Asian Lite News Global venture capital firm Accel
Go toTop

Don't Miss

DRC to set up battery council to promote cleaner energy

The Democratic Republic of Congo (DRC) is to set up

Motorola launches new affordable ‘moto g42’ in India

The smartphone is available in a single 4GB RAM+64GB storage