Ezetap, Payment Solution Company, has earned FortunePay which is a Bengaluru-based startup. It mainly caters banks an infrastructure for payment switching and it will help Ezetap in its mission to fortify its payments technology.
This is the second acquisition of the company
This is the second acquisition by Ezetap and the company representative made an announcement that they are looking for further acquisition of more companies as they wish to cover the entire mode of payment.
Earlier acquisition of the company
Ezetap had also acquired Clinknow, loyalty platform in 2014. It offers PoS devices & solutions. It also comprises of UPI and a solution of universal wallet acceptance.
What the CEO of the Ezetap said on the acquisition
Abhijit Bose, CEO at Ezetap, said 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 minimise the downtime for merchants”.
FortunePay was established by entrepreneurs P Shashidhar and Manju Murthy in 2011.
Murthy talk about amalgamation of offerings
Murthy said that, “The acquisition brings together Ezetap’s differentiated mPoS offering and enterprise integration with FortunePay’s processing infrastructure to enable unified payments at scale and lower cost”.