Juspay acquires LotusPay to strengthen recurring payment offerings

Friday 9 February 2024 11:09 CET | News

India-based payments infrastructure company Juspay has bought LotusPay to strengthen its offerings to the BSFI segment and merchants, with a focus on recurring payments.


Juspay, an Indian payments infrastructure company, has acquired LotusPay in an all-cash deal. Juspay provides robust payments solutions for companies in various sectors such as BFSI, ecommerce, travel, fintech, airlines etc. This acquisition augments Juspay’s offerings to BFSI segment and merchants, with a particular focus on enhancing its recurring payment capabilities.

Juspay has bought LotusPay to strengthen its offerings to the BSFI segment and merchants, with a focus on recurring payments.

LotusPay, established in 2016, is a pioneer in NACH Debit technology, offering cloud-based software for merchants and banks. Utilising NPCI's NACH Debit system, LotusPay facilitates recurring payments collection for various services like loans, insurance, and subscriptions. Serving major Indian banks, NBFCs, and tech firms, LotusPay streamlines payment processes across diverse sectors.

Commenting on the deal, officials from Juspay said that LotusPay’s NACH solutions add strength to their existing recurring payment offerings. They can now serve their enterprise clients (banks, merchants, NBFCs) with a complete suite of recurring payment options with a single integration. Most importantly, LotusPay’s approach to product and technology has seamlessly aligned with Juspay’s tenets. Joining hands, they look forward to serving their customers in this growing market of recurring payments.

Officials from LotusPay stated that they are happy to see LotusPay joining forces with Juspay, one of the most innovative payments companies in India. Their journey at LotusPay has been driven by a mission to simplify recurring payment collection for merchants. With this partnership, they aim to take LotusPay NACH Debit to even greater heights. They’re happy to have played a part in India’s digital payments revolution.

Going forward

Juspay will integrate LotusPay NACH into Juspay’s HyperCheckout and Express Checkout products, and continue offering it as a standalone service. Juspay processes 100+ million transactions daily, worth USD 500 billion TPV on an annualised basis. This acquisition represents a significant advancement in India’s payments landscape, offering businesses enhanced recurring payment solutions and bolstering the digital payment ecosystem. The collaboration brings together the credibility and expertise of Juspay and LotusPay, further strengthening India’s position in the global payments arena.

What does Juspay do?

Juspay is a Indian payments innovator specialising in providing payment solutions to businesses of all sizes. Since its establishment in 2012, Juspay has crafted diverse products and solutions to improve the customer experience and make payments frictionless. With over a decade of experience, Juspay has become a trusted partner for companies across various sectors like BFSI, ecommerce & quick commerce, travel, fintech, airline etc. The company is known for its cutting-edge technology, robust security, and augmented customer support. Juspay handles over 100 million transactions daily while maintaining uptime, reliability, and performance.

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Keywords: acquisition, recurring payments, ecommerce, fintech, travel payments
Categories: Payments & Commerce
Companies: Juspay, LotusPay
Countries: India
This article is part of category

Payments & Commerce




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