Juspay has acquired LotusPay, a recurring payments solution provider, in an all-cash deal. Founded in 2012, Juspay offers a Software-as-a-Service (SaaS) payments platform catering to merchants in various sectors like travel, e-commerce, and fintech, processing over 100 million transactions daily.
With the acquisition of LotusPay, also Bengaluru-based, Juspay aims to enhance its offerings for the banking, financial services, and insurance (BFSI) segment and merchants, particularly focusing on improving its recurring payment capabilities. A key feature of LotusPay, its NACH (national automated clearing house) Debit solution, attracted Juspay. This cloud-based software enables banks and merchants to collect recurring payments for various purposes like loans, insurance premiums, and subscriptions.
Juspay intends to integrate LotusPay NACH into its HyperCheckout and Express Checkout products while also providing it as a standalone service. Sheetal Lalwani, co-founder and chief operating officer of Juspay, highlights that the acquisition enables the company to offer clients a comprehensive suite of recurring payment options with a single integration. Atma Krishna, founder and CEO of LotusPay, expresses shared goals with Juspay in simplifying recurring payment collection for merchants and looks forward to elevating LotusPay NACH Debit through this collaboration.