Razorpay said this investment and partnership will make an impactful contribution to the industry and drive adoption and financial growth for underserved small businesses in the next twelve months
Digital transactions have continued to grow at a strong pace in the country with increasing acceptance in tier II and III towns, a report by fintech firm Razorpay said
It is Razorpay's third acquisition in almost three years and follows its foray into Business to Business lending.
TERA Finlabs is a Bengaluru-based startup that provides technology, risk and capital solutions.
To help banks comply with RBI directive and provide convenience to banks' customers, Razorpay and Mastercard have partnered to launch MandateHQ, new recurring payment interface, after RBI's new rules
The platform saw a growth of over 200 per cent from March last year to May this year in transaction volume done by MSMEs.
Microblogging platform Twitter on Thursday said it has added an Indian payment gateway Razorpay for its Tip Jar feature that allows users to send and receive money.
After introducing Tip Jar that allows people to send and receive support with cash gifts, Twitter said that it is adding an Indian payment gateway, Razorpay, as an additional payment provider to it.
The move comes as it enables iOS and Android users in India to send money or 'tip directly to their select favourite accounts with substantial followers
Razorpay becomes one of the most valuable B2B fintech start-ups
Tier-2 & 3 cities and towns continued to contribute over 50% of all online transactions
The others in the consortium are Financial Software and Systems (FSS), Zoho, Zerodha, Razorpay, Ujjivan Small Finance Bank, and Airpay
The tie-up aims to drive digital payments acceptance by small businesses and start-ups in the country
The Tiger Global- and Sequoia-backed firm is recruiting to help it work towards servicing the next 5 million businesses by 2022
The firm announced plans to hire 650 employees across technology, product and business teams in the next 10 months
Razorpay plans to invest heavily in strengthening the security and fraud analytics infrastructure
The rise was driven by strong adoption of digital transactions in tier II and III cities, according to a report by fintech firm Razorpay
Due to lack of trust, new merchants usually see 30% higher cart abandonments on the checkout page as compared to established merchants; Razorpay is aiming to change that
Fintech major Razorpay also launched new products
The partnership will make international payments seamless and safer, reducing wait time from days down to minutes