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Paytm to discontinue Juspay-routed transactions from April

EntrackrEntrackr · 10m ago
Paytm to discontinue Juspay-routed transactions from April
Medial

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.

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PhonePe dominates UPI ecosystem with 49% market share in April

EntrackrEntrackr · 1y ago
PhonePe dominates UPI ecosystem with 49% market share in April
Medial

Digital payments platform PhonePe has continued to be the number one player in the unified payments interface (UPI) ecosystem with a market share of close to 49% in April 2024 across P2M (person to merchant) and P2P (person to person) transactions. PhonePe has maintained the leadership position in the overall UPI transactions for more than 40 months (since November 2020). As per the data issued by the National Payments Corporation of India (NPCI), PhonePe clocked 6.5 billion transactions via UPI out of the total transactions of 13.3 billion in the last month. This roughly translates to 48.87% market share in the UPI ecosystem which also includes players like Google Pay and Paytm, among many others. UPI transactions declined in volume in April by 1% to 13.3 billion from 13.44 billion in March. The total transaction value in the same period also fell 0.7% to Rs 19.64 trillion from Rs 19.78 trillion in March. While PhonePe and Google Pay registered 6.5 billion and 5 billion transactions respectively in March as well as in April, Paytm’s transactions slipped to 1.11 billion from 1.21 billion during the last two months. As of April, Google Pay and Paytm controlled 37.5% and 8.3% market share in the overall (P2M and P2P transactions) UPI ecosystem. Value wise, PhonePe had close to 51% market share followed by Google Pay and Paytm with 35% and 5% share respectively. For Paytm, this is the third consecutive decline in terms of monthly transactions in 2024. The trend can be seen below: In January, RBI had imposed restrictions on Paytm due to compliance concerns. This appears to be the primary reason behind the fall in UPI transactions for the Vijay Shekhar Sharma-led fintech major. The firm also saw a sharp fall in active users after January this year. Entrackr exclusively reported the development in April. Paytm later received permission from NPCI to participate in UPI through the third-party application provider (TPAP) under the multibank model. In April, CRED became the fourth largest UPI-enabled app which processed 138 million transactions. This was followed by Amazon Pay and Fampay with 64.33 and 46.64 million transactions, respectively. Government- promoted BHIM recorded 25 million transactions while WhatsApp reported over 34 million transactions in the last month. Significantly, NPCI is reportedly planning to review its decision to implement a 30% cap on the market share of UPI apps by the end of 2024.

Juspay raises $50 Mn from WestBridge Capital at $1.2 Bn valuation

EntrackrEntrackr · 9d ago
Juspay raises $50 Mn from WestBridge Capital at $1.2 Bn valuation
Medial

Juspay raises $50 Mn from WestBridge Capital at $1.2 Bn valuation Bengaluru-based payments infrastructure firm Juspay has raised $50 million in a Series D follow-on round from WestBridge Capital through a mix of primary and secondary transactions. Avendus Capital acted as the financial advisor to Juspay on this transaction. Juspay said the latest funding round pegged its valuation at $1.2 billion, compared to around $900 million in the previous round. With this, the company has become the first unicorn of 2026. The primary capital will be used to support global expansion and product development, while the secondary portion will provide partial liquidity to early investors and employees holding ESOPs. This is the second liquidity event facilitated by the company in the past year. The fundraise follows continued operational growth. Juspay said its annualised total payment volume (TPV) has crossed $1 trillion, with the platform processing over 300 million transactions daily. The company serves enterprises and banks across sectors such as ecommerce, travel, food delivery, insurance and financial services, and has expanded its presence across Asia-Pacific, the Middle East, Latin America, Europe, the UK and North America. Founded in 2012, Juspay builds payments infrastructure with a focus on open-source, interoperable and modular systems. Its offerings include payment orchestration, authentication, tokenisation and core payments infrastructure for banks. The company is also investing in artificial intelligence-driven tools aimed at improving merchant experience and internal operations. The latest round adds to Juspay’s recent funding history. In April 2025, the company raised $60 million in a Series D round led by Kedaara Capital, with participation from SoftBank and Accel. That round also included a secondary component. Earlier, in December 2021, Juspay raised $60 million in a Series C round led by SoftBank Vision Fund 2, with participation from Wellington Management and VEF, at an estimated valuation of about $460 million. Prior to that, the company raised a Series B round in 2020 led by VEF, following its early institutional backing from Accel in 2016. Headquartered in Bengaluru, Juspay works with over 500 enterprises and banks globally and operates with a distributed workforce of more than 1,500 employees across India, the US, Europe, Latin America, Southeast Asia and the Middle East. For the fiscal year ended March 2025, Juspay reported operating revenue of Rs 540 crore and a profit of Rs 62.28 crore.

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