Payment solution firm Razorpay acquires Gurgaon-based Thirdwatch

Payments solution company Razorpay has made its first acquisition as it takes over Gurgaon-based Thirdwatch, a company that specialises in big data and machine learning for real-time fraud prevention. The firm did not disclose the financial details of the transaction.

Razorpay said the acquisition would augment the work it had been doing in artificial intelligence (AI), machine learning and big data as it looked to improve payment experience and avoid fraudulent transactions.
The company said the acquisition of Thirdwatch was aligned with its long-term strategy of building core-competencies in big data and AI.