New Delhi, Aug 18 : Fintech services platform Razorpay announced on Thursday that it had acquired offline payment services provider Ezetap which makes it one of the few companies in the world with an extensive presence both offline and online in payments. According to reports, the size of the deal is estimated at $150-200 million.
This is the sixth and most significant acquisition to date.
The Ezetap Team of around 300 employees will join Razorpay and function as an autonomous business unit.
“We believe that companies of the future will not be able to distinguish between digital and physical channels and will demand to have a single payment experience via one platform that is integrated,” said Harshil Mathur Co-founder and CEO of Razorpay.
Ezetap offers software for financial technology including points of sales (POS) solutions and billing solutions, loyalty solutions, as well as other solutions that allow businesses to accept payment in-store and at the point of delivery.
It currently has 500 million touchpoints, including Amazon and BigBasket and is in close collaboration with banks such as SBI, HDFC, ICICI and Axis among others, and processing more than 10 billion dollars in annual transactions through its platform.
“We join Razorpay’s collection of products to provide companies the best-in-class, omni-channel payment experience.
We are thrilled by the endless possibilities that both companies are looking at in the world of omnichannel payment,” said Byas Nambisan Ezetap’s CEO.of Ezetap.
Prior to that, Razorpay acquired fintech startup IZealiant Technologies, Malaysia-based Curlec, TERA Finlabs, Opfin and Thirdwatch.
With a total payment of $80 billion value (TPV) as of April, Razorpay is eyeing a 10-12 million merchant base by the end of next year.
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