---
title: "To Tap into Offline Payments Razorpay had Purchased Ezetap for $150 Million"  
description: "India's Razorpay has mentioned that it had bought offline payments firm Ezetap and offers payment gateway services for online merchants."  
author: "Siddhi Shaw"  
published: 2022-08-18  
canonical: https://www.mindstick.com/news/1898/to-tap-into-offline-payments-razorpay-had-purchased-ezetap-for-150-million  
category: "technology"  
tags: ["technology", "india", "payment gateway integration service"]  
reading_time: 2 minutes  

---

# To Tap into Offline Payments Razorpay had Purchased Ezetap for $150 Million

**India's Razorpay** has mentioned on **Thursday** that it had bought offline payments firm **Ezetap**, which marked the **Sequoia Capital-backed** firm's latest bet on the payments industry within a deal, one of the sources with knowledge of it has mentioned was worth of **$150 million**.

```
HIGHLIGHTSRazorpay offers payment gateway services for online merchantsShashank Kumar has stated Ezetap that it would help it to develop in this areaRazorpay serves 8 million businesses and processed payments value $80 billion
```

Razorpay, that would be valued at over **$7 billion** and offers [payment gateway](https://answers.mindstick.com/qa/113305/what-is-a-payment-gateway) services for online merchants has mentioned in a statement that the [acquisition](https://www.mindstick.com/news/2246/following-elon-musk-s-acquisition-gm-suspends-its-twitter-advertising) was its biggest till date.

It has mentioned that the deal would boost efforts to tap the offline market that would still accounts for a bulk of electronic payments in **India**. Ezetap was the one whose products which would include point-of-sale machines and processed over **$10 billion** in annual [transactions](https://www.mindstick.com/news/1118/online-card-transaction-through-tokenisation-new-rbi-rules-from-july-1-2022) in India.

Razorpay co-founder **Shashank Kumar** has stated Ezetap that it would help it to develop in this area. '**There was a large portion of offline payments and in-person payments that we do not cover**.'

As per the source, Ezetap would still operate individually even after its acquisition, adding to it that the deal would involve a **$150 million** payment to Ezetap, with another possible **$50 million** [connected](https://www.mindstick.com/articles/12941/link-building-and-search-engine-rankings-how-are-they-connected) to its performance over next year.

Therefore, Kumar has mentioned in an interview that the deal would facilitate Razorpay cross-sell its services, along with loan offerings, to offline businesses, adding to that Razorpay presently serves over **8 million** businesses and processed payments value **$80 billion** since it was originated about **eight [years ago](https://yourviews.mindstick.com/view/81912/humans-lived-in-america-more-than-30000-years-ago)**.

The acquisition would come as [solution providers](https://yourviews.mindstick.com/story/3914/best-5-erp-solution-providers) in [India](https://www.mindstick.com/news/1671/tokenisation-new-payment-system-in-india) which had attempt to secure a good grip on both the online and offline payments.

**India's Pine Labs**, that has been focusing on offline payments for years, but it has started [processing](https://www.mindstick.com/blog/254/background-processing-in-android) [online transactions](https://answers.mindstick.com/qa/105281/how-is-ai-used-in-fraud-prevention-in-online-transactions) from last year itself, a business from which it has been targeting **$4-5 billion** in monthly transactions in last **two years**.

Also Read: [WhatsApp Gets Permit to Expand Indian Payments Service to 100 million users-sources](https://www.mindstick.com/news/1563/whatsapp-gets-permit-to-expand-indian-payments-service-to-100-million-users-sources)

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Original Source: https://www.mindstick.com/news/1898/to-tap-into-offline-payments-razorpay-had-purchased-ezetap-for-150-million

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