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Razorpay, Cashfree stop direct integrations with Juspay; Pine Labs to continue partnership

Economic Times

Economic Times · 6m ago

Razorpay, Cashfree stop direct integrations with Juspay; Pine Labs to continue partnership

Razorpay and Cashfree have halted integrations with Juspay as competition in digital payments heats up. This decision follows PhonePe's earlier split with Juspay. Both companies aim to provide direct payment gateway services, enhancing features and support for merchants. Meanwhile, Pine Labs continues partnerships with orchestration services, emphasizing open collaboration. The shift reflects the industry's evolving dynamics, with companies like Razorpay developing their own orchestration platforms amidst rising transaction volumes and payment failures.

Related News

After Phonepe, Razorpay & Cashfree Exit Juspay Partnership, Opt for Direct Merchant Integration

OutlookIndia

OutlookIndia · 6m ago

After Phonepe, Razorpay & Cashfree Exit Juspay Partnership, Opt for Direct Merchant Integration

PhonePe, Cashfree, and Razorpay are transitioning away from partnerships with third-party payment orchestration platforms like Juspay, focusing on direct integrations with merchants. This shift comes in response to the Reserve Bank of India's approval for Juspay as an online payment aggregator, allowing it to compete in the market. Pine Labs, however, continues to support Juspay alongside other orchestration systems. These companies aim to gain greater control over data, compliance, and offer enhanced payment solutions.

PhonePe ends pact with Juspay, stops third-party integrations for merchant payments

Economic Times

Economic Times · 8m ago

PhonePe ends pact with Juspay, stops third-party integrations for merchant payments

PhonePe, a major digital payments company, has ended its partnership with payment orchestration platform Juspay and will directly integrate with merchants instead. This move allows PhonePe to provide a seamless payment experience from transaction origination to settlement. While PhonePe has been offering direct integration for some time, it will now discontinue all third-party integrations. This decision aligns with the trend of payment aggregators building their own payment orchestration systems in-house. Juspay, which recently obtained a payment aggregator license, may now compete with other brands such as Razorpay, PhonePe, and Cashfree.

ETtech Explainer: Why digital payments firms are shutting out third party routers

Economic Times

Economic Times · 6m ago

ETtech Explainer: Why digital payments firms are shutting out third party routers

Digital payment firms like PhonePe, Razorpay, and Cashfree are ceasing third-party router usage due to shrinking revenues, regulatory pressures, and rising competition. Companies prefer direct integrations over platforms like Juspay to streamline operations and enhance control. This shift arises from increased competition and revenue challenges in the expanding digital payment sector. Additionally, firms have developed their platforms to compete with orchestration services and offer lower rates. The debate centers on technology versus financial efficiency for merchants.

JusPay Nears Unicorn Status With $150 Mn Fundraise Amid Payment Gateway Exodus

OutlookIndia

OutlookIndia · 6m ago

JusPay Nears Unicorn Status With $150 Mn Fundraise Amid Payment Gateway Exodus

JusPay, a SoftBank-backed fintech infrastructure firm, is set to raise $150 million, nearing unicorn status with an approximate $1 billion valuation. This upcoming funding round, involving SoftBank and WestBridge, will increase JusPay's total fundraising to over $237 million. The move follows multiple payment gateways like PhonePe and Razorpay severing partnerships with JusPay, as these firms shift towards direct merchant integrations to enhance control over client data and payment solutions.

Paytm to discontinue Juspay-routed transactions from April

Entrackr

Entrackr · 4m ago

Paytm to discontinue Juspay-routed transactions from April

Paytm to discontinue Juspay-routed transactions from April Fintech company Paytm has stopped using third-party platforms like Juspay to manage its payments and will now handle transactions directly. In a communication to its partners, Paytm Payments Services Limited (PPSL) said that it will stop supporting transactions routed via Juspay, effective April 1. The Noida-based company added that the move aligns with PPSL’s commitment to offering a more seamless and reliable payment infrastructure to its merchant base. “To ensure uninterrupted payment service, we request you to start accepting payments directly through PPSL,” the company noted in the email. Highlighting its capability, PPSL said it supports more than 100 payment sources and is equipped to handle peak loads efficiently. This strategic shift comes as PPSL continues to strengthen its position as a leading payment solutions provider, focusing on direct integration for enhanced performance and reliability. PhonePe became the first fintech to cut ties with Juspay in December. Soon after, Cashfree and Razorpay also followed suit.

Pine Labs gets NCLT nod to reverse flip Singapore entity

Economic Times

Economic Times · 4m ago

Pine Labs gets NCLT nod to reverse flip Singapore entity

Pine Labs has received approval from the National Company Law Tribunal (NCLT) to merge its Singapore entity with its Indian entity, effectively reverse flipping its parent company back to India. This aligns Pine Labs with other fintech firms like Groww and potentially Razorpay making similar moves. With all statutory and regulatory approvals in place, Pine Labs plans to list on Indian stock exchanges. The company, valued at $5 billion, aims for a billion-dollar IPO despite market uncertainties.

With licences in, payment aggregators gear up for rising demand from merchants

Money Control

Money Control · 1y ago

With licences in, payment aggregators gear up for rising demand from merchants

The Reserve Bank of India (RBI) has authorized seven companies, including Razorpay Software and Cashfree Payments, to operate as payment aggregators (PAs), after a year-long wait. These companies are now preparing their tech infrastructure and banking partnerships to onboard new merchants. The approval has come as a relief to the payment gateway companies, as they can now compete with other players like Billdesk, Pine Labs, Infibeam, PhonePe, and Amazon Pay for new merchants. This move is expected to accelerate revenue growth and compensate for business lost over the past year.

PhonePe launches payment gateway, targets MSME merchants

Money Control

Money Control · 2y ago

PhonePe launches payment gateway, targets MSME merchants

PhonePe, a popular digital payment platform in India, has introduced a payment gateway to cater to micro, small, and medium-sized enterprise (MSME) merchants. The gateway enables businesses to accept online payments seamlessly and offers features like instant settlements and fraud prevention mechanisms. PhonePe's move aims to support the digital transformation of MSMEs and expand its presence in the merchant ecosystem. The space is presently dominated by Razorpay, Cashfree, CCAvenue, Pine Labs, and PayU. One97 Communications Limited, the parent company of Paytm also launched its own payment gateway in 2012.

Juspay, Zoho, Decentro secure RBI nod for payment aggregator business

Economic Times

Economic Times · 1y ago

Juspay, Zoho, Decentro secure RBI nod for payment aggregator business

Fintech startups Juspay and Decentro have received licenses to operate as payment aggregators from the Reserve Bank of India (RBI). Joining the likes of Razorpay, Cashfree, and Zomato, Juspay and Decentro will now be able to offer financial services such as lending and KYC verification. This comes amidst the RBI's tightening control over the fintech industry, with more players expected to receive licenses in the coming months. Zoho, a Software as a Service (SaaS) startup, also obtained the payment aggregator license, becoming the first enterprise SaaS player to do so.

Pine Labs Partners Emirates NBD To Offer Solutions In UAE

Inc42 · 1y ago

Pine Labs Partners Emirates NBD To Offer Solutions In UAE

Pine Labs has partnered with UAE-based banking group Emirates NBD to provide digital payments solutions. Emirates NBD will utilize Pine Labs' Credit+ platform to expand its offerings and deploy merchant acquiring processing solutions for its corporate and institutional clients. The collaboration will initially be introduced in the UAE, with plans to expand it to Saudi Arabia and Egypt. This partnership will boost Pine Labs' revenue and extend its presence in the Middle East. In its latest financial year, Pine Labs experienced a significant increase in net loss but saw a 37% rise in operating revenues.

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