Payment Aggregators cutting ties with Payment Orchestrators

Payment gateways move away from third-party payment orchestrators to gain complete control and improve the security of transactions conducted via their apps and platforms. In December 2024, PhonePe announced its decision to offer direct integration with merchants, thus signalling the end of its association with Juspay. In January 2025, Razorpay and Cashfree announced the same.

Juspay enjoyed a monopoly in the third-party payment orchestration market for many years. It is currently in the middle of a $150 million funding round that could propel it to the ‘unicorn’ status.

Payment orchestrators route transactions across different payment aggregators or gateways depending on the latter’s commission rates, transaction success rate, and mode of payment.

Merchants need a licensed payment aggregator to allow digital transactions using modes like UPI, debit or credit cards, buy now pay later, or net banking. Many merchants relied on Juspay to integrate with different payment aggregators.

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