“Can a payments orchestration and checkout infrastructure company built on India's UPI ecosystem expand into a global open-source payments OS that competes with proprietary orchestration layers?”
Founded in 2012 as a checkout and payments SDK company for Indian e-commerce, Juspay expanded from mobile checkout SDKs into full payment orchestration infrastructure, becoming the backend for major Indian apps including Amazon India, Swiggy, and Flipkart. The company pivoted globally around 2022–2023 with Hyperswitch, an open-source payments orchestration platform targeting international merchants and competing with Stripe and Adyen at the orchestration layer. Simultaneously, Juspay deepened its India-specific embedded finance stack with UPI infrastructure (HyperUPI), embedded lending (HyperCredit), and global payouts — positioning itself as a full-stack payments infrastructure provider for both India and global markets.