Boston based private equity firm, TA Associates, has acquired a minority stake in online payments provider BillDesk for an undisclosed amount. TA Associates is said to have acquired shares from one of the existing investors in the company who has exited the firm. Early investors in BillDesk include Clearstone Venture Partners, State Bank of India, Bank of Baroda and National Venture Fund For Software & IT Industry but it remains unclear as to which firm exited. BillDesk, which is a part of Ltd was founded in 2000 by three ex-Arthur Andersen professionals, and offers online payment services for utility bills, credit card, depository account charges and ISP charges.

BillDesk has 45 banks and financial institutions as its clients, 250-300 large billers (all major telecom operators),  20 electricity companies, 30 insurance firms, key travel companies and large, pure play e-commerce platforms.

Other online payment services

Though BillDesk claims to be India’s largest e-payment processing service, there are other competitors that also offer similar solutions. Recently, Global online payment provider Paypal displayed its intention to enter the domestic payment service market. Other companies that offer similar services include mChek, Itz Cash, and Citibank’s easy bill payment service. Apart from that, BillDesk also competes with payment gateways like  CCAvenue and