Razorpay acquires Gurgaon-based fraud prevention AI startup Thirdwatch

Both companies envision a future where AI will help e-commerce firms not just combat fraud but maintain a competitive advantage and significantly improve merchant profitability.

Payments solution company Razorpay said on Monday that it has acquired Thirdwatch, a company that specialise in big data and machine learning for real-time fraud prevention, for an undisclosed amount.

The Gurgaon-based data science company by applying AI to fight fraud at scale has boosted Razorpay’s quest to build and introduce innovative technological solutions to facilitate the transformation of the Indian economy from a cash-driven infrastructure to a less-cash ecosystem. Thirdwatch, now a wholly-owned subsidiary of Razorpay, will be based at the company’s headquarters in Bengaluru.

“This acquisition is a perfect fit. Our war is against cash, hence we want