NEW DELHI: Payments infrastructure company Juspay on Tuesday announced the acquisition of LotusPay in an all-cash deal. The financial details were not disclosed.
Juspay provides payments solutions for leading companies in various sectors such as banking, financial services and insurance (BFSI), e-commerce, travel, fintech and airlines, etc.
The acquisition, said the company, will strengthen its offerings to the BFSI segment and merchants, with a particular focus on enhancing its recurring payment capabilities.
“LotusPay’s NACH (national automated clearing house) solutions are the best in the market, and they add strength to our existing recurring payment offerings. We can now serve our enterprise clients (banks, merchants, NBFCs) with a complete suite of recurring payment options with a single integration,” said Sheetal Lalwani, Co-Founder and Chief Operating Officer of Juspay.
Founded in 2016 by Atma Krishna and backed by Y Combinator, LotusPay is a pioneer in NACH debit, and…