Citrus Pay
| Private | |
| ISIN | 🆔 |
| Industry | Payment solutions |
| Founded 📆 | 2011 |
| Founders 👔 | Jitendra Gupta[1] Satyen Kothari[2] |
| Headquarters 🏙️ | , , |
Area served 🗺️ | India |
| Products 📟 | Debit cards, credit cards, net banking, and prepaid digital wallets |
| Members | |
Number of employees | |
| 🌐 Website | citruspay |
| 📇 Address | |
| 📞 telephone | |
Citruspay is a financial technology company that provides payment solutions to online merchants in India . Citruspay is headquartered in Mumbai, India. Citruspay allows online businesses to accept and process digital payments through payment modes like debit cards, credit cards, e-wallets,[3][4] net banking, bill payment solutions[5][6], credit underwriting[7] and prepaid digital wallets. Citruspay payment solutions can be integrated by both web and mobile applications.
History
Citrus Pay was founded in 2011[8] by Jitendra Gupta and Satyen Kothari.[9] The company has three business verticals: payment processing, enterprise payment SaaS solutions and consumer payment services. Citrus Pay’s payment gateway is used by companies such as Indigo, Jet Airways and Amazon India.[10] The company has partnership with RuPay and Visa for issuing its own prepaid cards in India [11] along with waiving off any charges for all Government bills in India for a period of 18 months starting in March, 2016.[12]
In 2013, the company acquired a rival payment gateway provider Zwitch for an undisclosed sum.[13] Citrus Pay, have raised around $32 million from investors that include Sequoia[14], Ascent Capital, Beenos, eContext and Paypal co-founder Peter Thiel before it was acquired by PayU.[15][16] PayU[17], an online payments company with a focus on developing markets that is owned by South Africa’s Naspers, acquired Citrus Pay for $130 million in cash in September, 2016.[18][19]
References
- ↑ Hashmi, Sameer (2016-01-19). "Will India go cashless if mobile payments take off?". BBC News. Retrieved 2017-06-27.
- ↑ Ramakrishnan, N. (2013-05-19). "Paying attention to e-commerceblsnm". The Hindu Business Line. Retrieved 2017-06-27.
- ↑ "Meru Cabs goes the Uber way, introduces cashless travel feature - Tech2". Tech2. 2014-10-01. Retrieved 2017-06-27.
- ↑ "E-wallets: Money on the move". The Financial Express. 2015-01-11. Retrieved 2017-06-27.
- ↑ Vishwanathan, Vivina (2014-05-01). "Money". http://www.livemint.com/. Retrieved 2017-06-27. External link in
|work=(help) - ↑ "Citrus co-founder quits to carve out app into new co - Times of India". The Times of India. Retrieved 2017-06-27.
- ↑ Vishwanathan, Vivina (2015-10-25). "We'll give unsecured credit on the go". http://www.livemint.com/. Retrieved 2017-06-27. External link in
|work=(help) - ↑ "Coolest Start-ups in India 2014: What sets Citrus apart from other payment solutions companies?". www.businesstoday.in. Retrieved 2017-06-27.
- ↑ "Use fintech to solve real problems: Cube CEO Satyen Kothari | Forbes India". Forbes India. Retrieved 2017-06-27.
- ↑ "Online payments firm PayU to buy rival Citrus Pay for $130 mn". Techcircle.in - India startups, internet, mobile, e-commerce, software, online businesses, technology, venture capital, angel, seed funding. 2016-09-14. Retrieved 2017-06-06.
- ↑ Bhakta, Pratik (2015-12-07). "Citrus Pay ties up with RuPay, Visa to boost business in payments space". The Economic Times. Retrieved 2017-06-27.
- ↑ Mishra, Digbijay (2016-03-10). "Internet payments processor Citrus Pay to waive charges on government bills". The Economic Times. Retrieved 2017-06-27.
- ↑ Gooptu, Biswarup (2015-10-21). "Citrus Payment Solutions acquires Bengaluru-based payment platform Zwitch for an undisclosed sum". The Economic Times. Retrieved 2017-06-27.
- ↑ Chanchani, Madhav (2016-09-15). "How Citrus Pay made 15 of its staff crorepatis". The Economic Times. Retrieved 2017-06-06.
- ↑ Bhattacharya, Ananya. "A startup sale made this low-level employee into an Indian millionaire". Quartz. Retrieved 2017-06-27.
- ↑ "PayPal founder just invested $25 million in this Mumbai tech startup". Business Insider. Retrieved 2017-06-06.
- ↑ "PayU India wants $100-million in its wallet this fiscal - Times of India". The Times of India. Retrieved 2017-06-06.
- ↑ "In India's consumer internet scene, winning could boil down to meeting SoftBank's expectations | Forbes India Blog". Forbes India. Retrieved 2017-06-06.
- ↑ Lunden, Ingrid. "Naspers' PayU buys Citrus Pay for $130M in cash to expand in India | TechCrunch". Retrieved 2017-06-06.
External links
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