{"id":4094,"date":"2022-08-18T09:51:42","date_gmt":"2022-08-18T09:51:42","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=4094"},"modified":"2023-04-25T10:36:51","modified_gmt":"2023-04-25T10:36:51","slug":"razorpay-forays-into-offline-payments-with-the-acquisition-of-leading-pos-company-ezetap","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/razorpay-forays-into-offline-payments-with-the-acquisition-of-leading-pos-company-ezetap\/","title":{"rendered":"Razorpay Forays Into Offline Payments with the Acquisition of Leading POS Company, Ezetap"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">With this acquisition, Razorpay will be one of the few companies globally with a significant online and offline presence in payments<\/span><\/i><\/li>\n<\/ul>\n<p><b>INDIA, BANGALORE &#8211; 18th August 2022: <\/b><span style=\"font-weight: 400;\">Taking a crucial step towards its vision of becoming India\u2019s Leading Full-Stack Financial Services Company for Businesses, <\/span><a href=\"https:\/\/razorpay.com\/\"><b>Razorpay<\/b><\/a><b>, announced its foray into the offline payments world with the acquisition of <\/b><a href=\"https:\/\/corp.ezetap.com\/\" target=\"_blank\" rel=\"noopener\"><b>Ezetap<\/b><\/a><b>, a Universal Payments Platform.<\/b><span style=\"font-weight: 400;\"> Founded in 2011, Ezetap is India\u2019s leading offline POS company that was founded with the aim to simplify the in-person offline payments experience. <\/span><b>With this acquisition, Razorpay will be one of the few companies across the world with a significant online and offline presence in payments. <\/b><span style=\"font-weight: 400;\">This marks Razorpay\u2019s sixth and biggest acquisition thus far.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While digital penetration is growing across India, offline payments remain a vital part of the ecosystem. <\/span><b>Over the years, Ezetap, an industry payments leader, has transformed the way offline payments are done.<\/b><span style=\"font-weight: 400;\"> The company provides software for financial technologies, including Point Of Sales (POS) solutions, billing, loyalty solutions among others, enabling businesses to accept payments in-store and on-delivery. The company currently serves over 500,000+ touchpoints, including the likes of Amazon and BigBasket, works closely with India\u2019s largest banks including SBI, HDFC, ICICI and Axis, among others and processes over $10 Bn in annual transactions on its platform.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the last two years, businesses have adopted a hybrid approach to reach their customers after the pandemic. Today, it is not enough to offer both online and offline payments but to marry the two seamlessly for a truly omnichannel experience.<\/span> <b>This partnership with Ezetap will empower Razorpay to become India\u2019s largest omnichannel payments solution for all businesses.<\/b><span style=\"font-weight: 400;\"> A \u201cHybrid\u201d or \u201comnichannel\u201d payment experience has a huge potential to redefine customer experiences and as a result help businesses retain their customers. It is therefore pertinent for those businesses seeking sustainable growth to make the \u2018omnichannel payment experience\u2019 a default option for their customers.<\/span><\/p>\n<p><b>Commenting on the announcement of a new journey, Harshil Mathur, CEO &amp; Co-founder of Razorpay said, <\/b><i><span style=\"font-weight: 400;\">\u201cWe are thrilled about this new move and excited to welcome Ezetap to the Razorpay family <\/span><\/i><b><i>as we take our first step together in transforming India\u2019s omnichannel payments experience. <\/i><\/b><i><span style=\"font-weight: 400;\">There is a huge opportunity in redefining omnichannel payments that this acquisition offers. We believe that the businesses of tomorrow will not distinguish between physical and digital channels and will expect a unified payment experience through a single integrated platform, both in the offline and online world. And we are excited that the upcoming new innovations through this acquisition will deliver just that &#8211; a seamless, hassle-free, secure omnichannel payment experience, bringing businesses much closer to their customers.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">He added, <\/span><b><i>\u201cWith Ezetap on board, we believe we are well-poised to create a similar disruption as done in online payments and simplify in-person payments with the same passion and effort we have devoted to online payments. <\/i><\/b><i><span style=\"font-weight: 400;\">We are excited that with this acquisition, we will be one of the frontrunners in this change of omnichannel payment revolution.\u201d<\/span><\/i><\/p>\n<p><b>The fintech giant, Razorpay believes that the acquisition of Ezetap will take the company closer to offline businesses, understand their needs &#8211; regardless of size, nature, or location <\/b><span style=\"font-weight: 400;\">\u2013 and help businesses enjoy access to simple yet powerful payment and banking solutions that can help them achieve limitless growth.<\/span><b>\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The<\/span><b> CEO of Ezetap, Byas Nambisan<\/b><span style=\"font-weight: 400;\"> said,<\/span><i><span style=\"font-weight: 400;\"> \u201cIt\u2019s an exciting time at Ezetap. Over the last eleven years, we have strived to build a robust payment ecosystem for thousands of offline businesses so that they can accept any mode of payment from their customers, across every touch point. Today we have reached greater heights only because of the trust of our customers, investors, partners and our phenomenal team. We thank you for believing in our vision, we couldn&#8217;t have done it without you!\u201d<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">He added, \u201cAnd now we are truly excited about our next adventure &#8211; our next phase of growth as a part of the Razorpay Family. We share Razorpay\u2019s vision of simplifying payments and banking for Indian businesses, being available wherever their customers are, and being a one-stop payment and banking platform across channels. And this step takes us at Ezetap closer to achieving that dream. <\/span><\/i><b><i>We join Razorpay\u2019s suite of products to collectively offer businesses the best-in-class omni-channel payments experience and are excited at the limitless possibilities that together both the companies are looking to explore in the omnichannel payment world.<\/i><\/b><i><span style=\"font-weight: 400;\">\u201d\u00a0<\/span><\/i><\/p>\n<p><b>Razorpay believes that Ezetap\u2019s tech stack will now further the company\u2019s mission towards creating a single unified platform <\/b><span style=\"font-weight: 400;\">that powers transactions across both, brick and mortar and online storefronts. The entire Ezetap Team of around 300 employees will be joining Razorpay Family and working as an independent business unit within Razorpay.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prior to this, Razorpay acquired<\/span><b> IZealiant Technologies, <\/b><span style=\"font-weight: 400;\">a leading Fintech startup that provides payments technology solutions for banks in March 2022 and before that the company acquired <\/span><b>Malaysia-based Curlec,<\/b><span style=\"font-weight: 400;\"> a leading recurring revenue platform in February 2022, announcing its expansion into South-East Asia. The other previous acquisitions include <\/span><b>TERA Finlabs,<\/b><span style=\"font-weight: 400;\"> (AI-based risk tech SaaS Platform) in 2021, <\/span><b>Opfin<\/b><span style=\"font-weight: 400;\"> (Payroll &amp; HR management solution) in 2019 and <\/span><b>Thirdwatch<\/b><span style=\"font-weight: 400;\"> (Fraud Analytics AI-platform) in 2018.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the last 8 years, Razorpay, trusted by over 8 Mn businesses, has repeatedly disrupted the process of accepting payments and managing banking operations for online businesses. With a $80 billion TPV as of April 2022, the company is now eyeing a 10-12 Million merchant base by next year. <\/span><span style=\"font-weight: 400;\">The Fintech Unicorn is at the forefront of India\u2019s digital financial revolution building the central nervous system for Digital India, with clear dominance in digital payments and its fast-growing business neo banking arm, RazorpayX.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">***<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With this acquisition, Razorpay will be one of the few companies globally with a significant online and offline presence in payments INDIA, BANGALORE &#8211; 18th August 2022: Taking a crucial step towards its vision of becoming India\u2019s Leading Full-Stack Financial Services Company for Businesses, Razorpay, announced its foray into the offline payments world with the<\/p>\n","protected":false},"author":14,"featured_media":4095,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[27],"tags":[46,47,33,48],"class_list":{"0":"post-4094","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corporate","8":"tag-ezetap","9":"tag-offline-payments","10":"tag-razorpay","11":"tag-razorpay-acquires-ezetap"},"modified_by":"Anu Saraswat","_links":{"self":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/comments?post=4094"}],"version-history":[{"count":2,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4094\/revisions"}],"predecessor-version":[{"id":4278,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4094\/revisions\/4278"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media\/4095"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media?parent=4094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/categories?post=4094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/tags?post=4094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}