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A hair away from unicorn status, but Juspay just can't catch a break

Feb 17, 2025

This discussion reveals the rollercoaster journey of Juspay as it inches closer to becoming a unicorn. The company faces a challenging landscape, having lost crucial partnerships with notable fintechs like Phonepe, Razorpay, and Cashfree. Merchants are caught in a dilemma: stay loyal to Juspay or switch strategies? The stakes are high, with potential ripple effects on the entire payments industry. Additionally, there's a strategic challenge posed to business leaders, highlighting the fierce competition within quick commerce and payment orchestration.

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Quick takeaways

Juspay is on the verge of unicorn status with potential $150 million funding, yet faces partner losses threatening its market position.

The shift to direct integrations by competitors like Razorpay and Cashfree is reshaping the payments landscape, challenging Juspay's reliance on orchestration services.

Deep dives

Shifts in Payment Aggregator Relationships

JustPay, a leader in payment orchestration, has faced significant challenges as key partners like PhonePay, Razorpay, and Cashfree have cut ties with the company. This shift began when PhonePay announced its decision to discontinue support for third-party payment orchestration platforms, which posed a direct threat to JustPay's dominating position. As these aggregators opt for direct integrations with merchants to maintain closer relationships, the landscape is at a crucial turning point that could affect JustPay's standing in the industry. Merchants now find themselves in a dilemma; the choice they make could reshape the payments ecosystem and determine which aggregator they rely on for their business operations moving forward.

JustPay's Struggle for Dominance in Payment Orchestration

6min

Navigating the Competitive Landscape of Payment Solutions

6min

It has been a confusing year so far for the payment processor, Juspay. On the upside, it is one step closer to unicorn status thanks to a possible 150 million dollar funding round. But at the same time, it has also been getting the cold shoulder from several fintechs that once were a core part of its business.

It all began just a few months ago, in December, when the Walmart-owned payment aggregator Phonepe said it would discontinue support from all third-party payment orchestration platforms. Soon after, Razorpay and Cashfree followed suit and severed ties with Juspay.

So now merchants have to decide – do they stay the course with Juspay or jump ship? The stakes are at an all time high. Because their decision could reshape the very structure of the payments industry.

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