#Payment gateway firm Razorpay | Explore Tumblr Posts and Blogs

indicpays · 2 months

Text

Empowering Businesses: The Top 10 Payment Gateways in India, Featuring IndicPay

Boosting Enterprises: India's Top 10 Payment Gateways, Including IndicPay

Payment gateways have become essential tools for enterprises in the quickly changing Indian commerce market, allowing for smooth online transactions and fostering e-commerce growth. The growing acceptance of online shopping and the growing popularity of digital payments have increased demand for dependable and effective payment gateway solutions. The payment gateway industry in India is booming, with a plethora of solutions that each offer special features and advantages to meet the various needs of businesses throughout the nation.Of these, IndicPay stands out as a frontrunner, offering cutting-edge and intuitive payment gateway solutions that enable companies to prosper in the digital era. Let's investigate the top 10 payment gateways in India, concentrating on IndicPay specifically, and examine their attributes, advantages, and contributions to the Indian business environment.

IndicPay: With its dedication to dependability, security, and client pleasure, IndicPay stands out as the market leader in the Indian payment gateway industry. With a full feature set that includes customizable checkout options, sophisticated reporting capabilities, and strong security measures, IndicPay gives companies the ability to optimize their payment procedures and improve customer satisfaction. IndicPay offers customized solutions to suit the specific requirements and preferences of businesses of all sizes, regardless of their size, from small startups to major corporations.

Razorpay: Known for its smooth integration capabilities and user-friendly interface, Razorpay is a well-known player in the Indian payment gateway business. Razorpay gives companies the ability to swiftly and securely accept payments both online and offline with a large selection of payment choices and cutting-edge features like smart routing and rapid settlements.

PayU: One of the top Indian suppliers of payment gateways, PayU provides a full range of services catered to the need of companies in different sectors. PayU improves the whole consumer experience and streamlines the payment process for retailers with its user-friendly interface, wide range of payment alternatives, and strong security measures.

Instamojo: For small and medium-sized enterprises searching for straightforward and reasonably priced payment options, Instamojo is a well-liked option. With capabilities like online store creation and invoice production, as well as a fast setup process and transparent pricing, Instamojo enables businesses to start accepting payments online with less trouble.

CCAvenue: With a variety of services and payment choices, CCAvenue is among the most reputable and established payment gateway providers in India. With its wide range of partner banks, strong security protocols, and support for several currencies, CCAvenue offers businesses a dependable and safe payment processing option.

PayPal: Due to its ability to process payments internationally, PayPal is a well-known payment gateway that has grown in popularity among Indian companies. PayPal's extensive acceptance and smooth integration with e-commerce platforms allow firms to reach a global client base and increase their global footprint.

Paytm Payments Gateway: Known for its mobile wallet and payment options, Paytm is a well-known brand in India. With features like rapid settlements, QR code payments, and seamless interaction with the Paytm ecosystem, the Paytm Payments Gateway provides businesses with a simple and safe online payment solution.

MobiKwik is a well-known player in the Indian payment gateway industry that provides a variety of options for companies of all kinds. Businesses may easily accept payments with MobiKwik's focus on innovation and customer convenience across a variety of channels, such as websites, mobile apps, and physical stores.

HDFC Payment Gateway: For companies searching for a dependable and secure payment processing solution, HDFC Payment Gateway is a reputable option. HDFC Payment Gateway helps businesses flourish by improving their online payment experience and supporting a wide range of payment methods. Its powerful security features and seamless integration capabilities further contribute to this.

Atom Technologies: With a variety of features and services catered to the requirements of companies in a range of industries, Atom Technologies is a top supplier of payment gateway solutions in India. With its cutting-edge technology, extensive feature set, and committed customer service, Atom Technologies enables companies to securely and effectively accept payments, spurring expansion and success.

To sum up, the top 10 payment gateways in India offer a wide range of choices for companies looking to improve customer satisfaction and expedite their payment procedures. Businesses may feel secure knowing that they are in capable hands while they handle the challenges of the digital era since IndicPay is at the forefront of the industry because to its creative solutions and steadfast dedication to customer satisfaction. Various payment gateways, such as Razorpay's easy-to-use interface, PayU's wide range of payment choices, and Instamojo's cost-effectiveness and ease of use, offer distinct advantages that enable businesses to prosper in the current competitive market.

#qr code services #b2b services #qr code #aadhar service #b2bmarketing #b2b payments #payment gateway #gateway

0 notes

paytel · 4 months

Text

Best Payment Gateways in India

Paytel is the best Payment Gateways in India

Introduction :

Definition of Payment Gateway

A payment gateway is a secure online service that facilitates the authorization and transfer of funds between a customer's bank and a merchant's account during a financial transaction. It encrypts sensitive information, ensuring a safe and efficient electronic payment process for e-commerce and other online transactions.

Importance of Choosing the Right Payment Gateway

Selecting the appropriate payment gateway is essential since it has a direct effect on the financial transactions of a firm. Customer trust is increased when secure, easy, and rapid payment processing is ensured via a dependable gateway. In addition to preventing fraud, supporting a range of payment options, and offering a satisfying user experience, it also helps businesses succeed and expand overall.

Factors to Consider:

Transaction Fees

Believe about how transaction costs from payment gateways will affect your profit margins. Examine the fee schedule, taking into account setup, recurring, and transaction expenses. Strike a balance between these and the functionality, dependability, and customer service of the gateway to maximize affordability and improve the general effectiveness of your online payment processing.

Integration Ease

Give preference to platforms with easy-to-use documentation and straightforward APIs when evaluating how easy it is to integrate payment gateways. Errors are minimized, development time is cut down, and customers have an easy checkout process when there is easy integration. Select a gateway that will work with your technological setup and offer a simple integration process for increased operational effectiveness.

Security Features:

Give priority to payment gateways that have strong security measures in place to protect sensitive client information. Seek for tokenization, end-to-end encryption, and adherence to industry requirements such as PCI DSS. In order to ensure confidence and reduce the risk of fraud and data breaches, advanced methods for identifying fraud and secure authentication techniques provide an additional layer of security.

Customer Support:

Consideration for payment gateways should be given to quick and dependable customer service . Addressing transaction issues requires prompt issue resolution, easily reachable help, and informed support personnel. Select a gateway with outstanding customer service to guarantee quick help in the event of technical issues or questions about payments, promoting a good merchant and consumer experience.

Technical Assistance

Sort payment gateways according to technical support, giving priority to those who offer timely customer service, thorough documentation, and easily accessible resources. Quick and dependable support guarantees smooth transition, reducing the risk of technical issues.

Top Payment Gateways in India:

Paytel

Paytel stands out for its easy integration and support for various payment options, making it suitable for businesses.

Razorpay

With its user-friendly interface and competitive pricing, Razorpay has gained popularity among businesses of all sizes.

CCAvenue:

CCAvenue boasts a robust platform, supporting multiple currencies and offering advanced security features.

PayU:

PayU excels in providing a seamless payment experience and offers a range of customizable options for businesses.

Comparison of Payment Gateways:

Transaction Charges

Examine transaction fees, such as startup fees, monthly charges, and per-transaction rates, closely when comparing payment gateways. Think about the total effect on the profitability and financial stability of your company. Select a gateway that best suits your demands in terms of cost-effectiveness by matching your transaction volume with one that offers an open fee policy.

User Interface

Based on the functionality and ease of use of the UI, compare payment gateways. To ensure a simple online transaction experience for both customers and merchants, use an interface that is clear and easy to use.

Customization Options

Examine payment gateways for alternatives for customisation to match certain business requirements. Take into account gateways that provide branded checkout pages, adjustable payment forms, and flexible API connection. Select a solution that will improve user experience overall and meet your business needs by enabling customized branding and simple website integration.

Supported Payment Methods:

Based on the range of accepted payment options, including bank transfers, digital wallets, and credit cards, compare payment gateways. Select a gateway that can handle a range of payment methods to increase client accessibility and boost conversion rates.

Benefits of a Good Payment Gateway:

Fast transactions with Zero downtime An effective payment gateway facilitates quick transactions with no downtime, which builds customer happiness, confidence, and operational efficiency. These factors result in higher sales and long-term business success.

Enhanced Security

A trusted payment gateway offers improved security, protecting confidential information and lowering the possibility of fraud. It also fosters client trust by guaranteeing safe transactions, which is essential for maintaining a company's credibility.

Better User Experience

A high-quality payment gateway improves consumer happiness and trust, which boosts business success by providing easy transactions, simple interfaces, and fast processing.

Easy Integration

A good payment gateway allows easy integration, reducing development time and effort. Quick implementation is guaranteed by smooth integration with several platforms, which improves enterprises' overall operational efficiency.

Challenges in Choosing a Payment Gateway:

Challenges in Choosing a Payment Gateway

Selecting a payment gateway requires careful thought to ensure easy integration and effective transaction processing, as choosing one can present compatibility problems.

Technical Support Concerns

Choosing a payment gateway presents issues with technical support, requiring careful consideration for prompt assistance and problem solving.

Legal and Compliance Factors:

Legal and regulatory considerations present difficulties when choosing a payment gateway, necessitating careful consideration to guarantee compliance with rules and guidelines.

Downtime issues:

The moment selecting a payment gateway, downtime concerns must be taken into account. Reliability and smooth operation are essential for avoiding transaction delays.

Tips for Integrating Payment Gateways:

Smooth Integration of Websites

Ensure smooth integration of payment gateways by understanding platform compatibility, following comprehensive documentation, testing thoroughly, and seeking professional assistance if needed, optimizing website performance for efficient transactions.

Mobile App Compatibility:

Payment gateways can be easily integrated into mobile apps by selecting mobile-friendly providers, using software development kits (SDk) to make integration easier, conducting extensive testing across a range of devices, and making sure the user experience is excellent.

Regular Updates and Maintenance:

Update and maintain compliance on a regular basis to guarantee smooth integration of the payment gateway. Keep yourself updated about upgrades, test frequently, and resolve problems quickly to ensure smooth transactions on your website.

Future Trends in Payment Gateways:

Blockchain Integration

Blockchain integration is a trend for payment gateways in the future since it offers increased efficiency, security, and transparency. The payments industry is about to change, and open ledger technology promises to bring into a more smooth and safe transaction experience.

Enhanced Biometric Security:

Improved biometric security is one of the payment gateway trends of the future, guaranteeing a more secure and easy user experience. It is projected that biometric authentication techniques—like fingerprint and facial recognition—will develop.

AI-driven Personalization:

AI-driven personalization, data analysis to optimize user experiences, and customization of payment procedures to individual preferences are some of the upcoming developments in payment gateways that will boost productivity and satisfy customers.

How to Choose the Best Payment Gateway for Your Business:

Assessing Business Needs

Evaluate your company's demands and select the best payment gateway based on security, supported payment methods, transaction volume, and security features. Give top priority to a supplier who meets your unique needs.

Understanding Customer Preferences

Selecting the best payment gateway for your company means taking into account what your customers want. To improve consumer satisfaction, give priority to solutions that enable easy user experiences, secure transactions, and consistency with popular payment methods.

Future Scalability

Make sure the payment gateway you've selected has scalability options to accommodate future business expansion. Go for solutions that can expand services to meet changing business needs and easily handle higher transaction volumes.

Security Measures in Online Transactions:

SSL Certificates

SSL certificates provide online transaction security. To protect yourself against cyber risks, make sure that private information, such as credit card details, is secured. Updating certifications on a regular basis will keep your security architecture strong.

Two-Factor Authentication

Use Two-Factor Authentication (2FA) to increase the security of your online transactions. Demand that users use both a password and a backup method—such as a one-time code or biometric authentication—to confirm their identity. This improves overall cybersecurity for your transactions and adds one more layer of defense against illegal access.

PCI Compliance

Secure processing of credit card information during online transactions is ensured by PCI Compliance. To safeguard confidential data and stop unwanted access, it requires encryption, regular security audits, and compliance to industry standards.

Tokenisation

Simply providing unique tokens for important information, tokenization improves the security of online transactions. Because these tokens have little value to hackers, there is reduced chance of hacking into information and safe financial transactions.

Frequently Asked Questions (FAQs)

What is a payment gateway?

A payment gateway is an internet-based service that makes it easier for customers' web browsers and merchant websites to securely transmit payment information. It encrypts sensitive information, like as credit card numbers, and serves as a conduit between the merchant and the customer's bank. The payment gateway protects financial information from fraud and illegal access by authorizing and processing transactions, guaranteeing safe and easy electronic payments for online purchases.

How do transaction fees vary among payment gateways?

Payment gateway transaction fees fluctuate based on the extra services provided, amount of transactions, and price structure of the supplier. Some impose a fixed fee, some take a percentage of the transaction amount, and some combine the two. Merchants should select a gateway with affordable terms after taking into account their company's necessities.

Can I integrate multiple payment gateways on my website?

It is feasible to incorporate more than one payment gateway into your website. This makes it possible for you to provide clients with a range of payment choices and can help with redundancy and uninterrupted transactions. But when you integrate multiple gateways, the level of difficulty of the implementation increases, and you need to properly handle security and user experience.

Are there any hidden charges with payment gateways?

Payment gateway hidden fees can vary, thus it's important to thoroughly read the terms and conditions. Certain gateways could charge extra for particular services, setup fees, or monthly fees. Before choosing a payment gateway, merchants should make sure they completely understand the pricing structure, including any potential hidden costs, to maintain transparency as well as avoid additional costs.

What should I do if I face issues with a payment gateway?

Get in touch with a payment gateway's customer service right away if you're having problems. Describe the issue in detail and ask for help. A great deal gateways provide 24/7 support. If the problem continues, think about contacting the company that runs your website or e-commerce platform for more assistance or looking into different payment gateways.

0 notes

stpaulscollegebangalore · 5 months

Text

CORPORATE JOBS AT YOUR DOORSTEPS!! 10 STARTUPS/COMPANIES HIRING BCom GRADUATES IN 2023

Have you ever felt like working in the corporate world? Does reading about the famous CEOs and their work excite you? There are so many opportunities open to BCom graduates in 2023. The past few years in India have been revolutionary for the startup culture. These start-ups and established companies offer more than 10 lakh jobs to freshers every year. In this article, we will tell you about some famous companies that hire Bcom graduates so that you don’t miss out on opportunities.

Deloitte

Deloitte is a global name for auditing, insurance and consultancy services. They offer jobs to Bcom graduates who are skilled in accounting and are well versed with insurance policies. You can join their off-campus drives or apply directly to land a job in this esteemed company.

KPMG

KPMG is a renowned company that offers tax, audit and treasury services. They are always on the lookout for Bcom students that can provide accountancy services. You can apply to their firms directly or can get a job via campus placements.

Digital Lending business

In recent times startups like SlicePay, and KreditBee have seen massive growth in active users. They have made getting loans more straightforward and easier. These companies need commerce graduates to handle accounts and tallies. Interested candidates can apply to these companies.

FintechCompanies

Fintech companies like Paytm, BharatPe, GPayand PhonePe have changed the economic ecosystem of our country. They collectively account for 40% of jobs for commerce graduates. These companies hire Bcom graduates assessing their skills and previous work experience.

Accenture

Accenture is an Irish company well known for its IT and consultancy services. They hire people from both IT and accounts backgrounds. If you are someone who enjoys working with clients and handling accounts, go ahead and apply at Accenture.

Ernst and Young Private limited

EY is famous for providing consulting, tax benefits and assurance services. They have job vacancies at regular intervals. In big cities like Mumbai and Bangalore, they hire Bcom freshers. They offer both on and off-campus placements.

Private Banks

Private banks like HDFC, ICICI and AXIS banks hire most Bcom graduates. They offer consultancy services, insurance policies etc. Working under these banks gives students the required work experience and exposure.

PWC(Pricewaterhouse coopers)

Pwc is an international professional service network of firms and consulting agencies. This is one of the big 4 for hiring in the economic services sector. They hire Bcom students with exceptional academics and a keen interest in the field.

Small case

Small case is an Indian startup that works closely with the stock trading companies. It is mainly famous for making stock baskets and is used by more than 10 million people. If you are someone who knows stocks/shares and stock exchange, you will enjoy working at small case.

Razorpay

Razorpay is a payments service platform used by various e-commerce websites to handle their payment gateway. It leads the charts of payment services. Razorpay also hires Bcom students via off-campus drives.

HOW CAN ST PAULS COLLEGE, BENGALURU HELP YOU GET THESE JOBS

As a BCom graduate, you need to keep in mind that landing a job in these companies is not easy. You need to have excellent academic records and extra skills to land a decent job in these companies. St Paul’s Bangalore, we’re the Best UG College in Bangalore offering BCOM Degree with the best excellence of academics and understood the latest job trends and trained our students accordingly. Experienced faculty members guide students. We have various competitions where students can gain exposure. We have a placement cell that will guide the students in their careers. Last year more than 30 companies visited our campus, and many Bcom students were placed in reputed companies. For more information on these companies and startups, you can check their websites and see where your interest lies.

For more information about our courses, you can check St Pauls College website or read other articles to clear any further doubts regarding your career.

0 notes

websamp · 7 months

Text

The Truth About Earning Cash Rewards Through Surveys

In an age dominated by the internet, making money online has become a pervasive and attractive concept. The prospect of generating income from the comfort of your own home is nothing short of tantalizing. One of the most popular and accessible ways to do this is through online surveys. But the question that has lingered in the minds of many is: Are online surveys legitimate? Can you genuinely make money by sharing your opinions on the web? In this comprehensive blog, we will delve into the world of online surveys and unravel the truth behind their legitimacy.

The Proliferation of Online Surveys

The digital era has witnessed an explosion in the number of online survey platforms. Companies are eager to gather consumer insights, and they're willing to compensate participants for their time and opinions. This burgeoning industry has given rise to countless survey websites, each claiming to offer a simple way to earn money. But not all that glitters is gold. Let's break down the essentials.

1: Online Survey Basics

To answer the question of whether online surveys are legitimate, it's vital to understand the fundamentals. Online surveys are questionnaires that gather data and opinions from individuals on various topics. These surveys are conducted by companies, market research firms, and even academic institutions to gain valuable insights into consumer preferences, behavior, and trends. Participants are often rewarded with cash, gift cards, or other incentives for their participation.

2: The Legitimacy Conundrum

Online surveys have gained a mixed reputation over the years. While some individuals have successfully earned money and rewards by participating in these surveys, others have encountered scams or platforms that promise much but deliver little. The key to deciphering their legitimacy lies in distinguishing the genuine opportunities from the dubious ones.

3: Identifying Scams

Beware of survey websites that promise unrealistic earnings with minimal effort. Legitimate online surveys offer reasonable compensation for your time and opinions, but they don't promise overnight riches. Scam websites, on the other hand, often lure people with grandiose claims, only to leave them disappointed and empty-handed. If it sounds too good to be true, it probably is.

4: Websamp - A Legitimate Opportunity

One survey platform that has gained recognition for its legitimacy is Websamp. Websamp invites participants to take part in market surveys through its app for global clients. The company ensures that participants are compensated fairly and securely through RazorPay, a trusted payment gateway.

5: Earning Extra Rewards

A standout feature of Websamp is its referral program. If you refer a friend to join Websamp, you'll earn extra points, boosting your earnings. This innovative approach not only benefits you but also expands the community of survey participants, enhancing the overall quality of data collected.

6: Evaluating Legitimacy

To evaluate the legitimacy of an online survey platform, consider the following factors:

1. Payment Method: Legitimate platforms offer reliable and secure payment methods, such as Websamp's partnership with RazorPay.

2. Transparency: Look for platforms that provide clear information about how the survey process works and how participants are compensated.

3. Privacy and Data Protection: Ensure that the platform respects your privacy and safeguards your data.

4. Reviews and Ratings: Research the platform's reputation by reading reviews and checking its ratings on trustworthy review websites.

5. Red Flags: Be cautious if a platform asks for upfront fees or personal information beyond what's necessary for the surveys.

The Legitimacy of Online Surveys

So, are online surveys legitimate? The answer is a resounding yes, but with a caveat. There are indeed legitimate opportunities to earn money by participating in online surveys. Websamp, for instance, stands as a credible and trustworthy option, offering compensation through RazorPay and additional rewards through its referral program. However, it's imperative to exercise caution and discernment when navigating this terrain, as there are still scams and unreliable platforms out there.

In the quest for legitimate online survey opportunities, Websamp shines as a beacon of trustworthiness and reliability. The app provides a platform for individuals to participate in market surveys for global clients and receive cash rewards via RazorPay. Furthermore, the referral program adds an extra layer of excitement, allowing you to earn even more by inviting friends to join. So, if you've ever wondered if online surveys are legitimate, the answer is a resounding "yes." Websamp is a prime example of a reputable platform that turns your opinions into tangible rewards, making the digital age a more rewarding one.

#websamp #earn money online #survey

0 notes

spinvestmentfund · 9 months

Text

Payment Platform Razorpay Acquires Curlec, Expands to Malaysia

Southern California-based SP Investment Fund LLC oversees a full range of investments that include the acquisition, renovation, and management of low- income housing. SP Investment Fund LLC also has over forty holdings in early-stage technology and biotechnology start-ups, one of which is the India-based omnichannel payments processor Razorpay, now in the process of expanding to the Malaysian market.

Already a leading Malaysian FinTech firm, Curlec was acquired by Razorpay in 2022 and transformed into a comprehensive payment gateway that can be conveniently used by companies of all types and sizes. The result, following an app-based model now employed by 10 million Indian businesses, is to automate and seamlessly facilitate diverse transactions. Razorpay meets a distinct market need, as it bridges the gap between local banks with limited transactional capacities, and global banking entities that do not offer a sufficiently localized platform to securely and rapidly verify and process everyday transactions.

Curlec, now serving around 600 businesses, has plans to expand the reach of its full-stack “Curlec by Razorpay" payment product to 5,000 businesses by 2025. If successful, this will generate around $2 billion in transaction value processing, significantly expanding Razorpay’s global footprint.

#SP Investment Fund

0 notes

newslobster · 2 years

Text

Razorpay Says Funds Not Frozen by ED, Firm Cooperating With Agency

Payments solution provider Razorpay, which was raided by the Enforcement Directorate recently, in a statement said that it has cooperated with the agency and its funds have not been frozen. “This recent visit by the ED is part of the ongoing investigation against a few suspicious entities who conducted illegal business through multiple payment gateways/banks,” the company said in a statement on…

View On WordPress

0 notes

squarwell-breakingnews · 2 years

Text

Crackdown on Chinese loan apps: ED raids Paytm, Razorpay, Cashfree - Times of India

Crackdown on Chinese loan apps: ED raids Paytm, Razorpay, Cashfree – Times of India

NEW DELHI: Payment gateways Paytm, Razorpay and Cashfree were raided on Saturday by the Enforcement Directorate (ED) in connection with on-going probe against illegal Chinese loan apps. ED said searches were conducted at six premises in Bengaluru, including the three fintech firms. Funds worth Rs 17 crore kept in “merchant IDs and bank accounts of Chinese persons-controlled entities” have been…

View On WordPress

0 notes

ultimateketomealplan · 2 years

Text

Hackers Steal Rs 7.38 Crore From Payment Gateway Firm Razorpay

Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company. In his complaint to the South East Cyber Crime Cell lodged on May 16, Razorpay’s Head of Legal Disputes and Law Enforcement Abhishek Abhinav Anand said…

View On WordPress

0 notes

indicpays · 2 months

Text

IndicPay and Beyond: Exploring the Top 10 Payment Gateways in India

Examining the Top 10 Payment Gateways in India with IndicPay and Beyond

Payment gateways are the foundation of smooth online transactions in the rapidly growing Indian commerce market, enabling companies and consumers to exchange products and services. There is an unprecedented need for dependable and effective payment gateway solutions due to the explosive rise of e-commerce and digital payments. India is home to a thriving payment gateway ecosystem, with each gateway providing special features and advantages to meet the various demands of businesses around the nation. Among them, IndicPay stands out as a pioneer because to its creative and approachable payment gateway solutions, which enable companies to prosper in the digital era. Let's examine the characteristics, advantages, and contributions made by the top 10 payment gateways in India—including IndicPay—to the country's business environment.

Leading the pack is IndicPay, a reputable brand in the payment gateway solutions industry. As a leading option for companies looking for easy payment processing solutions, IndicPay has established a solid reputation for dependability, security, and client satisfaction. With a wide range of capabilities, including configurable checkout options and sophisticated reporting tools, IndicPay may help you simplify payment operations and improve your customers' overall experience.

Another well-known player in the Indian payment gateway industry is Razorpay, which is renowned for both its strong security measures and user-friendly UI. Razorpay gives businesses the ability to securely and swiftly collect payments both online and offline thanks to its extensive payment options and easy integration features.

PayU: One of India's top providers of payment gateways, PayU provides a variety of options to suit the requirements of companies of all kinds. PayU streamlines the payment process for businesses and consumers alike with its user-friendly interface and multitude of payment alternatives, fostering expansion and financial success.

Instamojo: For small and medium-sized enterprises searching for straightforward and reasonably priced payment options, Instamojo is a well-liked option. Instamojo makes it simple for businesses to begin collecting payments online with its upfront cost and simple setup process.

CCAvenue: With a variety of services and payment choices, CCAvenue is among the most reputable and established payment gateway providers in India. A dependable and secure payment processing solution is offered to businesses by CCAvenue thanks to its wide network of partner banks and strong security protocols.

Paytm Payments Gateway: Known for its mobile wallet and payment options, Paytm is a well-known brand in India. With features like fast settlements and QR code payments, Paytm Payments Gateway provides businesses with a simple and safe online payment solution.

MobiKwik is a well-known player in the Indian payment gateway industry that provides a variety of options for companies of all kinds. MobiKwik makes it easy for businesses to take payments through a variety of channels by emphasizing innovation and client convenience.

HDFC Payment Gateway: For companies searching for a dependable and secure payment processing solution, HDFC Payment Gateway is a reputable option. Businesses may improve their online payment experience with HDFC Payment Gateway's strong security features and smooth integration capabilities.

Atom Technologies: Atom Technologies, a top supplier of payment gateway solutions in India, completes the list. Modern technology and an extensive feature set from Atom Technologies enable companies to securely and effectively take payments, fostering expansion and success.

In conclusion, companies looking to improve customer satisfaction and expedite payment procedures have an abundance of solutions available to them in the Indian payment gateway industry. Of these, IndicPay stands out as a pioneer, offering cutting-edge and approachable solutions that enable companies to prosper in the digital era. With its dedication to dependability, security, and client happiness, IndicPay is paving the path for a time when businesses in India and abroad will typically process payments with ease.

#b2b services #qr code services #aadhar service #qr code #b2b payments #payment gateway #gateway #b2bmarketing

0 notes

paytel · 4 months

Text

Best Payment Gateways in India

Paytel is the best Payment Gateways in India

Introduction :

Definition of Payment Gateway

Importance of Choosing the Right Payment Gateway

Factors to Consider:

Transaction Fees

Integration Ease

Security Features:

Customer Support:

Technical Assistance

Top Payment Gateways in India:

Paytel

Paytel stands out for its easy integration and support for various payment options, making it suitable for businesses.

Razorpay

With its user-friendly interface and competitive pricing, Razorpay has gained popularity among businesses of all sizes.

CCAvenue:

CCAvenue boasts a robust platform, supporting multiple currencies and offering advanced security features.

PayU:

PayU excels in providing a seamless payment experience and offers a range of customizable options for businesses.

Comparison of Payment Gateways:

Transaction Charges

User Interface

Customization Options

Supported Payment Methods:

Benefits of a Good Payment Gateway:

Enhanced Security

Better User Experience

A high-quality payment gateway improves consumer happiness and trust, which boosts business success by providing easy transactions, simple interfaces, and fast processing.

Easy Integration

Challenges in Choosing a Payment Gateway:

Challenges in Choosing a Payment Gateway

Selecting a payment gateway requires careful thought to ensure easy integration and effective transaction processing, as choosing one can present compatibility problems.

Technical Support Concerns

Choosing a payment gateway presents issues with technical support, requiring careful consideration for prompt assistance and problem solving.

Legal and Compliance Factors:

Legal and regulatory considerations present difficulties when choosing a payment gateway, necessitating careful consideration to guarantee compliance with rules and guidelines.

Downtime issues:

The moment selecting a payment gateway, downtime concerns must be taken into account. Reliability and smooth operation are essential for avoiding transaction delays.

Tips for Integrating Payment Gateways:

Smooth Integration of Websites

Mobile App Compatibility:

Regular Updates and Maintenance:

Future Trends in Payment Gateways:

Blockchain Integration

Enhanced Biometric Security:

AI-driven Personalization:

How to Choose the Best Payment Gateway for Your Business:

Assessing Business Needs

Understanding Customer Preferences

Future Scalability

Security Measures in Online Transactions:

SSL Certificates

Two-Factor Authentication

PCI Compliance

Tokenisation

Frequently Asked Questions (FAQs)

What is a payment gateway?

How do transaction fees vary among payment gateways?

Can I integrate multiple payment gateways on my website?

Are there any hidden charges with payment gateways?

What should I do if I face issues with a payment gateway?

#payment gateway

0 notes

kimgates07 · 4 years

Link

Startups in India are on the rise, with many earning accolades of praise and appreciation all over the world and growing to become unicorns and decacorns even within a few months of being founded at times.

With so many startups and the demography of the youth in India being at an all-time high, choosing whom to work for and deciding where they might find their peak and continuous growth as well can be a bit confusing. To make this process easier, we have created a compilation of the fastest growing startups in India.

What are some of the best startups to work for in India?1. OYO homes and hotels

One of the world’s largest hotel chain, OYO homes and hotels was founded by Rishabh Agarwal as an 18 year old in 2013. Amongst several such awards, OYO has also received Startup of the Year, Financial Express, 2015. OYO has come a long way, from being a start-up, to becoming a unicorn and to now being a decacorn. It is aiming to become the world’s largest hotel chain by 2023. It currently manages 515,000 rooms in 10 countries. OYO offers a range of employee benefits for a satisfactory work experience, such as –

Competitive Market Compensation

Financial Security

Healthcare

Time Off

Childcare

Employee Stock Options

2. Cure.Fit

A mobile app, Cure. Fit, has brought together the various aspects of healthy living – from physical fitness to nutrition and home delivering food to mental well-being on a single platform in a manner that makes it fun and practical.

Cure. Fit has adopted a revolutionary work system that makes working there a unique, and fantastic experience. Some of those are –

No hierarchy – their belief in action instead of position creates a work environment that affords a satisfactory amount of freedom to employees to work and lead on projects that drive them.

No ‘leave policy’ – because mental and physical wellness is their mantra above all

Perks such as food allowance and certain privileges over their own services and products for all employees.

Flexible working hours – employees have the freedom to decide time and duration for their working hours as best suited to them.

3. TapChief

This is a system to empower professionals to interact and learn from experts in their domain. They can also work with businesses and organizations across the world and aggregate their personal brand online. It is a simpler and more effective way to network, work and learn online. Employment perks at TapChief

Unlimited vacation days

Pet-friendly HQ and an open to all pantry to boot

Growth and learning opportunities with skilling sessions and monthly meetings with experts from TapChief community.

4. Razorpay

Founded in 2014, Razorpay is a payment gateway in India integrating several payment modes like debit cards, credit cards, net banking, UPI and prepaid digital wallets. Employee benefits –

Flexible working hours

MacBooks for everyone

Food and snacks

10 lakhs accident insurance (employee)

5 lakhs medical insurance (family floater)

5. Bounce

Based in Bengaluru, a bike renting app, Bounce is the perfect app for the introverts, the recluses and the ones feeling generally non sociable for it has done away with the keys as well as the interaction with humans. Download the app, pick a location and a bike, ride to your destination and move on. No keys. No responsibility. No communication. Within a few months of launching dockless scooters in Bengaluru, the firm has completed over five million rides, covering 30 million km. The founders of Bounce – HR Vivekananda, Varun Agni and G Anil – who started with bikes, bicycles and kick scooters are now looking to convert their entire fleet of vehicles into electronic vehicles.

According to employee reviews, Bounce is a fun place to work at offering free healthcare, pension and mentorship

6. Playment

Founded by IIT KGP/Guwahati 2013 grads, Playment is a data labeling platform which helps machine learning engineers build high quality ground truth datasets for training and validating machine learning models. Of the perks of working at Playment, some of them are –

Flexible working hours

Office parties

Sports events

Competitive salary

7. Rivigo

Rivigo provides express surface logistics all over the country. The startup was founded in 2014. Logistics unicorn Rivigo was recently granted patent rights by the United States Patent and Trademark Office for its relay truck model, which allows truckers to drive 4-5 hours at a stretch and return home the same day. Benefits at Rivigo according to employee (current and former) reviews –

Health care and Insurance

Disability insurance

Stock options or equity

Maternity and Paternity leave

Sick leave

Bereavement leave

Job Training and Tuition

8. ACKO

Founded in 2016, ACKO is India’s first InsurTech company. ACKO makes buying and using insurance a seamless, safe and hassle-free process.

Employee reviews acclaim benefits such as free lunch and breakfast, work from home options and great working environment.

9. Mfine

This startup is an AI powered online doctor platform that provides instant online access to doctors from the best hospitals. Employee reviews attribute great learning experience to working here.

10. InterviewBit

This is a platform that teaches you most of everything you need to know for a technological job. It is one of the leading interview preparation websites. Some of the many employee attested benefits of working at InterviewBit are – Healthcare and life insurance, sick leave, free lunch or snacks and reduced or flexible working hours with work from home option as well.

11. UDAAN

This startup is a network centric business that brings buyers and sellers from across the country easily accessible on a single platform. Some of the job benefits according to several employee reviews are – Healthcare and Insurance, pension plan, stock or equity options, performance bonus, maternity and paternity leave, work from home options, child care facilities, sick leave, bereavement leave and free lunch or snacks.

12. Little Black Book

It is India’s biggest platform to shop and discover independent brands and retailers. Based in Delhi, there workforce is 65% women, and 60% of the leadership is constituted by women. Media, Communication, Marketing and sales form their largest job functions with digital marketing, social media marketing and creative writing as their most common skills.

Client reviews have attributed benefits such as free coffee and the opportunities to learn, grow and meet high end clientele.

13. Dunzo

This Bengaluru based, google backed concierge service platform prides itself in its super quick deliveries, from groceries and pet food to medicines and most of whatever else you may need delivered. Programming languages such as SQL, C ++ and C form its core skills in operations, engineering and sales. They offer wellness camps, medical coverage, monthly Dunzo cash on the app, Parental leave for mothers (6 months) as well as fathers (15 days).

14. upGrad

A further education online platform especially curated for working individuals, upGrad with its expanding business, is on the lookout currently to hire more than 150 employees. It is focusing on education, engineering and business development. The skills most likely to get picked up are SQL, JAVA, Analytics for jobs in sales, marketing and career support.

Employee reviews suggest job benefits such as – work from options, flexible environment, learning opportunities, great company culture and work-life balance, Healthcare and Insurance, free snacks and maternity and paternity leave.

15. Nineleaps

True to its name, Nineleaps enables businesses to take the leap into technological advancement and re-invent. They help the company become increasingly productive and advance in terms of their technological usage in the company’s processes. They welcome freshers and interns and experienced workers alike. To add fun moments and break the monotony of a regular day of work, they sometimes hold hackathons, sports tournaments and various such activities. Women are even offered a cab service from the company. Java, SQL and JavaScript are skills they are looking for in their employees

16. Simpl

An online payment platform, Simpl markets itself ‘anti-wallet’ having enabled online purchases with options such as ‘pay later’. It boats of 2 million transactions in a month with big wig clients such as Zomato and Swiggy. With their largest job functions being in engineering, operations and marketing the skills they most commonly scout are SQL, Analytics and JavaScript among others. They also offer perks such as free lunch or snacks, employee assistance programs and vacation and paid time off.

17. Meesho

Meesho is one of the fastest growing e-commerce companies in India. From homemakers, teachers, and students to boutique owners, professionals and businessmen and women can resell on Meesho. Resellers get the opportunity to earn margins more than 25,000 monthly, get bonus upto 6000 weekly and earn commission upto 5000 per referral. They also cover various insurance plans, offer maternity and paternity leave, work from home options as well as a free lunch or snacks.

18. Digit Insurance

They call themselves ‘the simplifiers’ for how easy and user friendly they make the process of getting an insurance. Their largest job functions are in business development, finance and engineering. Their most common skills are SQL, Business Analysis and Java.

Employee reviews attribute benefits such as onsite parking, gym and creche, coverage of brokerage/relocation costs if moving to job location, healthcare and life insurance, pension plan and performance bonus, employee discount as well as free lunch or snacks.

19. Karza Technologies

Based in Mumbai, Karza Technologies specializes in Banking Applications, Credit Assessment, Loan Monitoring, Fraud Analytics, Big Data Analytics, Business Intelligence. They have no fixed time for their employees nor a minimum number of days to clock in just as long as they get their job done. Their required employee skills are most commonly Python, SQL and Java with largest job functions in engineering, research and business development. Employee review has avouched working at the start up to be a great learning experience.

20. StashFin

A privately held company in the financial services, StashFin is a digital lending venture with its headquarters in New Delhi. The company’s most common skills are SQL, MySQL and Web Development with their largest job function in Engineering, Information Technology and Business Development. They offer perks such as Job training and tuition and performance bonus.

Accreditation and Awards for best companies to work for

The merits of a company and their standard of quality are accredited every year through the means of several professional awards decided by a panel of experienced businessmen and big wig companies of the corporate world. These awards are especially bolstering for start ups since it can raise their credibility and also earn them visibility in the corporate world of corporate function. They also serve as morale boosters for the employees and affords individual recognition to the exceptional workers. Mentioned below are few such nationally and internationally acclaimed awards.

A List of awards that identify good companies to work at

1. Best Company Award by Small Business BC Awards

This is given to the company that displays applaudable leadership. One that empowers its employees, motivating them and making them efficient with innovative HR practices, as well as showing a proven track record of growth profitability for at least the last to fiscal years and must have less than 50 employees.

2. Employees’ Choice Award

Winners for the 2019 Top CEOs and Top CEOs at Small & Medium Companies determined using Glassdoor’s algorithm indicate how good a business is to work for an employee by displaying the approval ratings of existing employees of the company on their CEO.

3. 50 best workplaces in India.

Identified by Global management consulting and research firm Great place this compilation represents the 50 best places to work for in India. The businesses taken into consideration constitute between 100 to 500 employees

4. LinkedIn Top Companies

Where India wants to work now. They take into consideration three things – job application, engagement and employee retention.

5. 100 Best Companies for Women in India

The AVTAR Group and Working Mother joined forces to select the 100 best companies that are facilitating women in thriving at both, work as well as home life. workforce profile, flexible work, women’s recruitment and retention, benefits, paid-time off, company culture and safety and security, as provided by the applicant companies.

6. SHRM India HR Excellence Awards

This award recognizes businesses that put people first. Businesses that recognize the importance of employees in the achievement of their goals.

7. Mercer-NDTV Employer Excellence Awards

Award introduced in collaboration with Mercer and NDTV, this award recognizes the businesses that put considerable effort in making their workplaces diversity friendly, encourages a healthy work life balance and puts their people first. This award is given out in 10 categories – Excellence In Work Life Balance, Employee Recognition, Capability Building, Digital HR, Workplace Diversity, Connected Organization, Career Development, Innovative Hiring, Employee Well-Being, Innovative Benefits

8. Employer Branding Awards

Businesses that realize the importance of creating a proper brand experience for the employees just as much as the customers are the ones recognized through this award. Companies that are contributing to the ‘Talent Management, Talent Development and Talent Innovation’ are who form part of the employer branding status.

9. India’s Best Companies To Work For

Several companies apply to Great Place to Work® Institute in order to get their companies assessed and benchmarked for their workplace culture. They also recognize – Best Companies To Work In Employee Wellness, Best Companies To Work In Employer Branding, Best Companies In Utilizing Analytics To Drive Great Place To Work® Initiative, Best Companies in Workplace Transformation Case Study Competition and Developing People Managers etc.

10. The Aon Best Employers Study and Award

This is one of the most prestigious awards in the corporate world. The companies are finalized on the basis of characteristics – Engagement, Leadership, Performance Culture, and Employer Brand.

#startups in India #best startups

0 notes

vsplusonline · 4 years

Text

Digital payments slip 30% on Covid-19 curbs

New Post has been published on https://apzweb.com/digital-payments-slip-30-on-covid-19-curbs/

Digital payments slip 30% on Covid-19 curbs

BENGALURU | MUMBAI: Shut shops, cancelled airline tickets and slower discretionary spends by consumers on dining out and movies are starting to hurt the country’s fast-growing digital payments sector. With industries across the board seeing a sharp slowdown, the digital payments sector is estimated to have registered a decline of around 30% in transaction value over the past few weeks, industry executives told ET.

Digital transactions processed by leading firms, both online and offline, are bearing the brunt due to restrictions in place to prevent a Covid-19 outbreak. It has especially impacted the air travel, hospitality and retail sectors.

“The hit is larger in metros for now, not India-wide,” said a top executive at a payments firm.

While customer traffic on digital channels are still high, the value of transactions has significantly declined, leading payment companies told ET.

“Considering the current situation in India, there is no denying the fact that the daily routine of the consumers has been impacted,” said Kush Mehra, chief business officer of Pine Labs, a Point-of-Sale (PoS) terminals player. “As Indian consumers start to limit their physical footprint in stores, it is too early to assess the actual impact on the offline transactions across all merchant categories,” he added.

Online payment solutions provider Razorpay and payment gateway platform CCAvenue said transactions processed in the travel segment – which accounts for over 25% of all online spends – have reduced by nearly 35% to 40%. Meanwhile, offline aggregators and service providers, such as Pine Labs and merchant acquirer BharatPe, said that shuttered shops in India’s leading metros will drag down daily volumes.

BharatPe, a QR-code based payments startup, said transactions on the platform have reduced by nearly 10%-15%. “To the extent that markets are getting shut, stores are not opening, and our merchants are not able to do businesses especially in metros like Mumbai. We have seen a nearly 10% contraction in digital transactions processed over the last few weeks,” Ashneer Grover, CEO of BharatPe, told ET.

Meanwhile, online transactions or payments which are digitally checked out, have come under scanner due to travel restrictions and slump in miscellaneous spends. “Aviation, which contributes nearly one-fourth of all online digital transactions, has seen a fall of nearly 40% due to cancellations and refunds because of restrictions on international travel,” said Harshil Mathur, CEO, Razorpay. “At the same time, we have seen increased online spending in segments such as utility, groceries and food delivery services,” he said.

March to May traditionally attract the highest travel-related spending by Indian consumers. This could change this year if the situation persists, executives added. “March and April see customer demand for travel. This (virus) posts a cloud on future transactions through the sector which brings nearly 30% of the payments for the online payments industry,” said Vishwas Patel, CEO, CCAvenues.

Demand for new tickets has slumped 35%, Patel added.

A Paytm spokesperson said, “We have been witnessing 20% growth in digital payments as compared to the regular days… There has been a massive surge in repeat transactions for various use-cases like fuel stations, utility payments among others. Offline payments have grown by 12% owing to more people preferring Paytm over cash.”

if(geolocation && geolocation != 5 && (typeof skip == 'undefined' || typeof skip.fbevents == 'undefined')) !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', 'https://connect.facebook.net/en_US/fbevents.js'); fbq('init', '338698809636220'); fbq('track', 'PageView');

Source link

#Technology

0 notes

techsciresearch · 4 years

Text

Retail Segment to Dominate India Payment Processing Solutions Market in Terms of Growth Rate During Forecast Period- TechSci Research

Growing initiatives by the government for the promotion of digital and online payments is expected to drive the growth of India payment processing solutions market

According to TechSci Research report, “India Payment Processing Solutions Market By Payment Method (Credit Card, Debit Card, E-wallet), By End User Industry (Retail, Hospitality, Utilities, Telecommunication, Others), By Region, Competition, Forecast & Opportunities, 2025” the India payment processing solutions market is expected to grow at a formidable during the forecast period owing to the increased promotion and strategies adopted by various government and non-government authorities to promote digital payment methods. Additionally, growing usage of online payment methods since they provide convenience and easier transactions are further propelling the market in the country. Furthermore, the increased use of mobile commerce that includes monetary transactions completed with the help of a mobile device or a mobile app is anticipated to spur the market during forecast years. However, concerns pertaining to cyberattacks and data privacy associated with the digital payment methods can hamper the growth of market during forecast period. Additionally, non-availability of standardizations and regulations to carry out international transactions can further restrict the growth of market during forecast period.

Browse market data Tables and Figures spread through Pages and an in-depth TOC on " India Payment Processing Solutions Market"

https://www.techsciresearch.com/report/india-payment-processing-solutions-market/4524.html

The India payment processing solutions market is segmented based on payment method, end user industry, company and regional distribution. Based on payment method, the market can be categorized into credit card, debit card and E-wallet. The E-wallet segment is expected to be the fastest growing segment during forecast period owing to the increasing use of mobile phones and tablets for shopping activities. Based on end user industry, the market can be fragmented into retail, hospitality, utilities, telecommunication and others. The retail industry is expected to register the highest growth during the forecast period. This can be attributed to the rise in demand for instant payment settlements from retailers and merchants and growing trend for online shopping. Additionally, digital payments provide a competitive edge to retail businesses as these payments are faster and cheaper as compared to conventional payment methods.

PayPal, Paytm (One97 Communications), PayU Payments Private Limited, Razorpay Software Private Limited, Atom Paynetz Payment Gateway (FT Group), DirecPay, MobiKwik, EMVANTAGE Payments Private Limited, E-Billing Solutions Pvt Ltd., State Bank of India, HDFC Bank Ltd and others are some of the leading players operating in India payment processing solutions market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, in October 2018, PayPal India partnered with Mumbai Metro for allowing commuters to recharge their metro smart cards easily and digitally.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4524

Customers can also request for 10% free customization on this report.

“India payment processing solutions market is to witness significant growth during the forecast period owing to the accelerating rate of digitization and increase in the investment by payment processing companies. Additionally, the massive population in the country also contributes largely to the high volume of digital transactions along with rising domestic and international investments. Furthermore, the initiatives taken by the Indian government such as the ‘Digital India’ scheme are expected to boost the growth of market during the next five. For instance, in 2016, the "National Payments Corporation of India" (NPCI) launched "Unified Payments Interface" (UPI). During this time, the interface handled 93,000 transactions and by 2018, this number reached 312 million. It is estimated that digital transactions in India would reach around USD 1 trillion annually over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Payment Processing Solutions Market By Payment Method (Credit Card, Debit Card, E-wallet), By End User Industry (Retail, Hospitality, Utilities, Telecommunication, Others), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of India payment processing solutions market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India payment processing solutions market.

Browse Related Reports

India Contactless Payment Market By Component (Solution & Services), By Device Type (Point of Sale Terminals, Cards, NFC Chips, Mobile Handsets & Others), By End User (Retail, Transportation, Hospitality, Healthcare & Others), Competition, Forecast & Opportunities, 2024

https://www.techsciresearch.com/report/india-contactless-payment-market/4257.html

India Digital Banking Platforms Market By Banking Type (Retail Banking & Corporate Banking), By Deployment Mode (On-premises & Cloud), By Banking Mode (Online Banking & Mobile Banking), Competition, Forecast & Opportunities, 2024

https://www.techsciresearch.com/report/india-digital-banking-platforms-market/4211.html

India Mobile Wallet Market By Application (Money Transfer, Recharge, Taxi Booking, Utility Payment, Movie Tickets, Train, Online Food Ordering and Others), Competition Forecast and Opportunities, 2013 – 2024

https://www.techsciresearch.com/report/india-mobile-wallet-market/3796.html

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

#India Payment Processing Solutions Market #Payment Processing Solutions Market #Payment Processing Solutions Market Size #Payment Processing Solutions Market Share #Payment Processing Solutions Market Forecast #Payment Processing Solutions Market Growth

0 notes

un-enfant-immature · 5 years

Text

India’s Razorpay launches corporate credit cards, current accounts support in major neo banking push

India’s RazorPay, one of the largest payments processing firms in the country, today announced a range of new services aimed at startups, businesses, merchants and freelancers as the Bangalore-based firm expands the reach of its financial platform in the nation.

The startup, which raised $75 million from Ribbit Capital and others in June this year, today introduced a new kind of corporate credit card and some banking services for startups and SMEs, and a new payment option for individuals to quickly receive money from their clients.

All of these services are solving some major challenges faced by tens of millions of businesses in the country. Even as startups are increasingly getting acceptance in Indian homes, banks in the nation are still wary of offering some financial services to them. Most “unprofitable” startups today can’t get a corporate credit card from a bank in India, for instance.

For its corporate credit card, Razorpay will assess other factors such as the flows and collections to determine who is eligible, the Bangalore-based startup’s founders — Harshil Mathur and Shashank Kumar — told TechCrunch in an interview.

The new corporate credit card, issued by RBL Bank, will allow businesses to access credit between Rs 50,000 ($700) and Rs 25,00,000 ($34,800). If they are able to pay it back in within 50 days, they will avoid any interest.

Razorpay also announced it is launching current accounts service. “While personal banking ecosystem in India has scaled tremendously in recent years, business banking is still old school,” said Mathur. “Most processes are still manual, and there is no communication among your invoice, payroll, booking systems. People have to deal with spreadsheet files.”

To solve this, Razorpay has built a neo banking platform. “As a business, if you want to create a current account bank with a bank, we take care of it. Everything — your transactions, and payables — happens on Razorpay’s platform and you can manage them through a single dashboard,” he said.

As part of this platform — and also as a standalone offering — Razorpay is offering a payroll management service. “One of the most common challenges in a business is how they handle payrolls. Most of these payrolls work with different systems such as HR and accounting. Again, you have to create spreadsheet files and provide it to the bank which does the processing. What our goal is that we will provide one single platform to manage payments better,” Mathur added.

To work on this service, Razorpay said it has acquired payroll and HR management software firm Opfin for what a person familiar with the matter said “a couple of millions of dollars.” Razorpay founders declined to comment on the amount.

And last, Razorpay has launched a new payment option for unregistered businesses such as mom and pop stores and freelancers. Millions of individuals in India today engage in business with one another, corporate companies, and clients overseas. For them, there exists a very limited set of options to receive payments from others and do it at a real-time pace.

Razorpay may have an answer. The company has launched a service that will allow individuals or businesses to create and send a link through text or email to their clients and receive payment in real-time. When the client clicks on the link, a payment gateway loads up that supports a range of paying options. “We support 100 currencies, so a person can have their money delivered from any country,” Mathur said. Another startup — Bangalore-based Instamojo — offers a similar functionality.

The announcements today illustrate Razorpay’s aggressive expansion into India’s burgeoning financial services market. The startup generates about 70% of its revenue today from its core business of processing payments.

More than 600,000 businesses in India including giants such as airline Indigo, Bombay Stock Exchange, conglomerate Reliance, Sony, ride-hailing service Ola and budget hotel operator Oyo Rooms today use Razorpay’s payments processing service. The two founders said they want RazorPay to be the financial cloud for businesses.

In recent years, the company has launched lending and a range of other services. Together with neo-banking services, Razorpay’s Kumar said he expects to have these generate 40 to 45% of revenue.

Razorpay today competes with a handful of companies including Naspers-owned PayU and legacy firms such as BillDesk. The startup, which focused on payments for the first two and a half years, says that business has grown by 600-700% year-over-year.

“We crossed a billion dollar in payments processing in September 2017. Now we are doing 10 billion,” Mathur said. “Our goal with today’s announcements is to have 20 to 30% of our merchants join and use our current account platform.”

#TechCrunch

0 notes