At Razorpay, we’ve always been driven by one fundamental question: How can we improve the payments experience for our partner businesses and their end-consumers? We constantly work to find solutions within. At times, we also look outwards, for meaningful partnerships that will simplify money movement for our partner businesses. Today, we have embarked on another such collaboration. We are pleased to announce the acquisition of IZealiant Technologies, a leader in developing innovative payments solutions for banks.
Founded in 2015, Pune-based IZealiant provides software products and services to banks and financial institutions to enable electronic payments. This acquisition will help us pursue state-of-the-art payment banking technologies that can not only meet evolving business needs but also tackle some of the financial industry’s most complex challenges.
Banks are key stakeholders in the payments ecosystem. Over the last few years, our Banking Solutions Arm has been working closely with them, building innovative payment technology solutions.
For its part, IZealiant has enormous banking expertise in creating mobile-first, API-enabled, and cloud-ready payment processing products for banks and financial institutions across the globe. The ZealPro product suite has been deployed in over 50 banks across 18 countries, processing millions of transactions.
This acquisition, therefore, represents the combining of two strong forces with hugely positive consequences. With our payments capabilities and with IZealiant’s knowledge and expertise, we will be able to build industry-first solutions for banks that will in turn create a world-class payments experience for our businesses and their customers.
Prashant Mengawade, CEO, IZealiant believes our joining hands is a radical move. “We are delighted to join hands with Razorpay and be part of their growth journey together. The timing couldn’t have been better as financial institutions are increasingly looking to adopt advanced, flexible, and secure solutions to meet ever-evolving customer needs. At IZealiant, we are extremely proud of our customer-centricity, and high-performing digital payments solutions that we have built for leading financial institutions across the world. With Razorpay’s market-defining innovation and leadership in technical expertise, I’m confident that our combined forces will be a game-changer for pioneering modern payments solutions for banks,” he says.
Our acquisition of IZealiant will enable us to support banks with great tech infrastructure that will enhance the payment experience for end-users. It is another effort to answer that question that always keeps us on our toes: How can we improve the payment experience for our partner businesses and their end-consumers?