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Citrus acqui-hires payments company Zwitch


Citrus Payment Solutions has acquired Bangalore-based payments company Zwitch for an undiscloded amount. Following the deal, founders Anish Achutan and Mabel Chacko will be joining Citrus Pay along with the core members of Zwitch.

What Zwitch did

Zwitch provides a payment platform called Zwitch.js which allowed developers to to accept mobile and online payments. It also offers mobile SDKs for in-app payments. The company also has a product called Zwitch Buttn where it will allow blogs to accept payments via pasting an HTML code.

At Citrus, Achutan will be launching new initiatives; the company is looking at verticals such as social commerce and hyper- local commerce. Chacko will  handle program launches and initiatives for start-ups and developers, helping them adopt Citrus. She will also be improvising the digital merchant acquisition plan for the company.

Citrus funding

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In October, Citrus confirmed raising Series C funding led by Ascent Capital and existing investor, Sequoia Capital, with participation from other existing investors, Beenos and eContext Asia. It had said it would use the funds to strengthen its technology and build products for mobile payments.

TinyOwl tie up 

Earlier this month, TinyOwl tied up with Citrus Pay to offer a wallet service in the former’s app to make payments and get instant refunds. Harshvardhan Mandad, co-founder and CEO of TinyOwl, said that customers faced ‘major dissatisfaction’ over refund challenges across industries, prompting them to make this move, adding that 30% of its orders were paid for by MyWallet in 4 weeks of launch.

Qwikcilver tie up 

Last month, e-gifting platform Qwikcilver tied up with Citrus Pay to enable its users to pay with the Citrus wallet in online and offline stores across categories like food, travel and entertainment. The wallet, along with Qwikcilver’s existing payment methods, would allow its users to shop across 5,000 offline and online stores via the Woohoo app. Citrus claims to have 17 million users and a merchant network of 6,000 online businesses.

Project Flight for merchants

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In April, Citrus launched Project Flight, a product for third-party merchants, that let online shoppers complete purchases through its platform. E-tailers could embed the gateway for free on their websites or blogs, to enable payments without navigating away. The platform features libraries for popular languages (PHP, JS etc.) and works on the web, iOS and Android.

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© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ