Why digital payments firms are shutting out third party routers
Digital payment companies are facing three big challenges--a shrinking revenue pie, increased regulatory scrutiny and increasing competition.
Budget with ET
India's aviation sector has wings, but airlines can't fly high
Change the game of trade as Trump returns to US throne
Income tax payers' wishlist: More benefits in new tax regime, higher HRA & more
The industry executives ET spoke with said these are the three major reasons for players like PhonePe, Razorpay and Cashfree to encourage their customers to stop using payment orchestration platforms like Juspay and instead push for direct integration.
On Monday, both Razorpay and Cashfree issued statements that they will stop working with third-party routers while processing digital payments for their merchants. PhonePe had made a similar move in December last year.
Responding to the developments, Juspay said it enables merchants to work with multiple payment gateways, so if some payment companies stop third-party integrations, they will lose out, affecting not just the merchant but the broader payments ecosystem.
Amrish Rau, chief executive officer of Pine Labs, has come out in support of third-party payment routers like Juspay. Vishwas Patel, chief executive officer of CCAvenue, said that supporting interoperability, his firm will continue working with third-party platforms like Juspay.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of
