Juspay buys LotusPay in all-cash deal

Payment infrastructure company Juspay has acquired LotusPay in an all-cash deal, it said in on Tuesday. “This acquisition strengthens Juspay’s offerings to the BFSI segment and merchants, with a particular focus on enhancing its recurring payment capabilities,” it said in a release.

Founded in 2016 by Atma Krishna and backed by Y Combinator, LotusPay specialises in NACH debit, and provides cloud-based software for merchants and banks. LotusPay caters to entities like HDB Financial Services, InCred Finance and IIFL Samasta Finance, and technology companies including StashFin, Pine Labs and Kissht among others.