Payments solution company Razorpay has acquired Thirdwatch, an AI-driven company specializing in big data and machine learning for real-time fraud prevention. The acquisition is expected to boost Razorpay’s ability to build and introduce innovative technological solutions that facilitate a less cash ecosystem. Thirdwatch will now be a wholly-owned subsidiary of Razorpay. The acquisition is aligned with Razorpay’s long term strategy of building core-competencies in big data and artificial intelligence by bringing in disruptive minds that can solve unique business problems in the industry. Harshil Mathur, CEO and co-founder of Razorpay, said this acquisition is a perfect fit for the company in its war is against cash and this acquisition will help the company empower businesses across industries to digitally transform and disrupt, by improving their response and redressal mechanisms of combating fraud.
