Ezetap, one of sides known Indian Fintech Startups, has acquired FortunePay, a Bengaluru-based startup that offers payment switching infrastructure to banks. This move will help Ezetap to grow and expand its payments technology to aware people about it and its services. This is not the acquisition made by Ezetap for expansion and they are still targeting more companies for acquisition.
Abhijit Bose, CEO of Ezetap spoke on the development that “We want to be a single payment solution for merchants, be it physical cards, UPI or mobile wallets. To do that, we need the infrastructure, which is why we decided to acquire FortunePay, which has a next-generation switching infrastructure for the mobile internet world, this acquisition will help us work with more banks and give more value to merchants. If the switch of one of our partner banks is down, we can process the transactions using our switch and minimize the downtime for merchants.”
In 2014, Ezetap had acquired Clinknow and after two years they acquired FortunePay and still looking for more is the clear indication of expansion and to increase the service and connect more people with the startup across the world.