Leading online payment services Razorpay and Cashfree have announced that they have decided to end their operations with payment platform Juspay.

The partnership between PhonePe and Juspay was terminated in December 2024. A few months before the end of PhonePe, there were indications that many payment gateway companies were considering moving away from the Juspay platform.

15% of PhonePe's payment gateway volume is processed through Juspay. The exit of Razorpay and Cashfree is likely to have a significant impact on Juspay's business.

Juspay is a payment technology company backed by Softbank. Juspay also supports offline payments through some of its own flagship products.