Daybreak How a well-timed offensive crippled Juspay’s $150 million fundraise
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Jun 3, 2025 Dive into the cutthroat world of India's fintech landscape, where payment aggregators like Phonepe and Razorpay are vying for supremacy. Discover the intense rivalry that unfolded when Juspay, the 'aggregator of aggregators,' aimed for a payment aggregator license. The fallout from this daring move has not only strained partnerships but also left merchants scrambling to adapt. Join the discussion on the implications of this power struggle and what it means for the future of online payments in India!
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Juspay's Key Market Role
- Juspay is an "aggregator of aggregators" helping merchants coordinate payments across multiple aggregators efficiently.
- It processes about a third of all digital transactions in India, serving over 500 major internet companies.
Juspay's License Disrupts Payments
- Juspay disrupted industry norms by obtaining a payment aggregator license itself in early 2024.
- This move upset existing payment aggregators who then launched a campaign against Juspay.
Aggregators Boycott Juspay
- Major payment aggregators including PhonePe, Razorpay, Cashfree, and Paytm ceased working with third-party orchestrators like Juspay.
- This collective boycott led to a significant reduction in Juspay's planned fundraising and business difficulties.