At Razorpay we want to ensure that the entire money flow in your organisation is made extremely simple, accessible, scalable and secure. We’ll focus on all things money-movement while you focus on what you do best and disrupt the Indian economy with new ideas, new products, first-of-its-kind experiences.  

From enhancing checkout experiences to revolutionising offline payments, streamlining payroll to pioneering advanced payout technologies, and from empowering banks with next-gen infrastructure to simplifying source-to-pay processes, our mission is clear: to empower businesses to drive growth and make every aspect of your money movement simple, swift and seamless. 

The past year has been exhilarating, to say the least, where we introduced over 500 features. 

In this blog, we’d like to take you through some of our marquee product launches and feature enhancements. 

How We Empowered Businesses to Drive Growth and Boost Conversion Rate…

With the magic of Checkout:

• We introduced our Payment Gateway 3.0, revolutionising payment processing with enhanced scalability, flexibility, and security. Razorpay’s checkout is now designed to cover every aspect of your customer’s journey and features solutions like Affordability Widget,  RTO Reduction and Protection, Razorpay Trusted Business Widget and much more. 
• Magic Checkout by Razorpay integrates with Truecaller, simplifying the checkout process and reducing cart abandonment rates in eCommerce, ensuring a seamless mobile number verification experience for users.
• Simplify checkout with Razorpay’s intuitive OTP features, including Auto-Read, Auto-Fill, and Auto-Submit, delivering a smoother, more efficient transaction experience.
• Boost website conversion rates effortlessly with Razorpay’s quick-to-activate e-commerce platform apps, ensuring buyer trust through trusted business widgets, and accelerating checkout with native card and COD payment options on Shopify and enabling seamless payment collection on Drupal, BigCommerce and OpenCart 4. 
• We’ve simplified UPI collect with seamless integration of UPI numbers, boosting user experience and conversion rates. Leveraging numeric digits associated with users’ phone numbers, expect a 20 bps conversion increase post-rollout.
• With Razorpay Direct Credit Cards for Shopify you can easily integrate native credit card payments, enhancing customer satisfaction and streamlining transactions. 

With the awesomeness of UPI and cards

• With pre-sanctioned Credit Line at Banks through UPI, fostering economic growth and financial inclusion with low-ticket, high-volume retail loans.
• With Credit Cards on UPI, Razorpay enables businesses to offer customers the convenience of paying on credit via UPI, eliminating upfront costs and enhancing customer satisfaction.
• Razorpay makes prepaid wallets more accessible by combining wallet experience with the extensive reach of UPI, allowing businesses to accept all wallet transactions without integration hassles and providing customers with unrestricted wallet usage.

By making every purchase affordable 

• Increase Conversion Rates with Razorpay Affordability Suite by providing 24 flexible payment options such as credit and debit card EMIs, BNPL etc. to reduce cart abandonment and boost average order value, ensuring a seamless checkout experience.
• Make high-value purchases more affordable, and increase your average order value by 45% increase in average order value with Discount Whisperer that is part of the Razorpay affordability suite that suggests how much more to shop for to unlock bigger discounts. 
• Enhance the overall EMI payment experience with Razorpay’s upgraded features. Conduct credit pre-eligibility checks, nudge hesitant buyers towards EMIs, recommend tailored EMI plans, and ensure inclusivity for all customer segments. In addition we’ve also streamlined the experience to make it a lot more convenient for your customers. 
• With FlashCredit you can now offer your customers credit approval in less than 10 minutes, leading to a 15% boost in sales, 4x revenue increase, and a 50% rise in average order value, thus reducing drop-offs and increasing purchase intent.

No one likes failed payments, here’s how we help businesses boost success rates

Optimise for success

• Tailored for businesses aiming to scale, Optimizer Pro offers advanced capabilities that makes it the premier choice for enterprise-level payment routing.
• Edge Routing on Optimizer ensures uninterrupted payment processing that guarantees 100% uptime by routing payments to designated backup gateways or aggregators, eliminating the risk of a single point of failure.
• Smart Router empowers businesses with its AI-driven technology, boosting payment success rates by 10% and reducing costs by 5% through dynamic selection of the most suitable payment gateway.
• Simplify the payment process with Optimizer Native OTP by enabling automatic reading and submission of OTPs on a Razorpay hosted page, eliminating the need for unfriendly mobile bank ACS pages.
• With Integration Audit Tool businesses now have a seamless way to audit payment gateway integrations at the touch of a button.
• Single View Recon on Optimizer streamlines reconciliation for businesses managing multiple payments partners by offering a consolidated view.

And when it comes to online commerce, we supercharge it! 

• Magic Checkout elevates your online advertising and analytics with 100% accurate tracking, ensuring crystal-clear data across Facebook Ads, Google Ads, and GA4, enabling precise audience targeting and smarter bidding decisions for higher revenue and conversions.
• Razorpay’s native Coupon Engine within Magic Checkout, lets you offer diverse coupon types, simplified management, and a seamless user experience to drive higher sales and engagement. 
• Reduce payment failures by 30% with Razorpay’s Next Best Action, which suggests alternative payment methods, enabling users to complete successful transactions quickly, boosting merchant revenue.
• Crafted for speed and efficiency, MagicX streamlines the checkout process, delivering a remarkable 40% boost in conversion rates and a 50% reduction in RTO rates, while providing pre-filled information and advanced fraud detection to address cart abandonment effectively.
• Razorpay Magic Checkout introduces RTO Analytics, offering insights into minimising RTO rates, including total successful orders, risky orders, and automatic reimbursement for RTO costs, optimising eCommerce operations.
• Boost brand credibility and reduce drop-offs with Razorpay’s Trusted Business Widget, seamlessly integrated on websites to validate legitimacy and foster brand recognition, creating a secure shopping environment.
• With Pay on Delivery get instant access to last-mile delivery payments offering secure alternatives to cash and slashing logistics costs in half, ensuring a smooth transition to digital payments.
• And, Magic Konnect bridges the gap between brands and customers offering automated marketing campaigns, direct payment acceptance, and personalised customer support via WhatsApp, empowering businesses to enhance visibility, boost conversions, and deliver exceptional customer experiences.

From Jarvis to Siri and now to your payments stack, we bring you the power of AI

• RAY is your ultimate 24/7 on-demand assistant, powered by AI, that is going to be a game-changer for your business. Boost productivity with trend monitoring, proactive interventions, and personalised recommendations available on WhatsApp, Razorpay Dashboard, and the Razorpay Mobile App.
• Revolutionise the way you access information with Docs AI, our groundbreaking chatbot, powered by AI. From product details to integration guides, Docs AI provides accurate, relevant responses in real-time, ensuring seamless communication and comprehensive coverage of all things Razorpay.
• With our AI-powered Dynamic Router you can now get industry-leading payment success rates. Our advanced models, trained on millions of data points, recommend optimal terminals, boosting success rates, reducing transaction costs, and enhancing customer experiences.

Raising the bar of seamless payments, here’s how we give you a 10/10 experience 

• Razorpay’s Dashboard is designed to be your own dynamic financial cockpit, empowering you with detailed insights and seamless management of all your payments. From checkout conversion to POS device management, track payments and settlements across time zones and payment modes, improving performance and enabling rapid business growth.
• Redefine financial data management with our AI-powered Recon platform, offering intelligent automation, predictive analytics, and easy onboarding for businesses seeking efficiency and accuracy in their financial processes.
• Access critical payment insights in real-time with unprecedented speed, on Razorpay LiveData. Empower swift, informed decision-making and transform data into a strategic asset.
• With Razorpay’s Downtime Detection Service you can continuously monitor the payments ecosystem in real-time, generating signals for merchants to take preventive actions and ensure high success rates, enhancing reliability and performance.
• Ensure over 99% of QR payments are confirmed in less than 5 seconds, minimising payment confirmation latency and optimising customer experience using UPI QR Status Check API on Razorpay. 
• Prevent direct payments to VPAs from UPI apps on Razorpay QR Codes, reducing payment disputes and ensuring successful transactions by linking payments to specific order IDs.
• Streamline UPI payments dispute resolution with Razorpay’s UDIR, eliminating tedious processes and providing businesses and consumers with efficient fraud management and enhanced visibility.

And when it’s time to go global, we’ll be your wings

• With our Risk Engine ensure that all your international transactions are secure with the Risk Engine analysing over 10k data points, ensuring the highest level of security and reliability for your business.
• Learn how to defend against chargebacks and protect your business with our comprehensive Shield Chargeback Protection solution, safeguarding your revenue and reputation.
• Start accepting payments in INR via UPI and Rupay without the need to set up an Indian entity, enabling international businesses to expand their reach seamlessly with Razorpay Payment Gateway. 
• Unlock lost revenue for travel and education businesses by accepting digital LRS payments via Razorpay, maximising revenue potential and enhancing customer satisfaction.
• Experience the ease of receiving international payments with India’s first Smart account, designed exclusively for Indian exporters, offering compliant solutions and streamlined processes.
• Razorpay International Payments Cards stack lets you enjoy a 2x advantage with our comprehensive cards stack, featuring superior security, support for over 160 currencies, industry-leading pricing, and Shield protection, ensuring seamless transactions for your business.
• Enhanced and automated chargeback management that helps you improve win rates, reduce resolution times, and ensure efficient resolution of disputes.

Empowering businesses with the best payments tech without a line of code

• Simplify payment collection with your personalised Razorpay.me link, eliminating the need for multiple payment links and streamlining the payment process for your customers.
• Boost conversion rates with our Failed Payment Recovery solution, which automatically sends payment links to customers for failed transactions, providing a second chance to complete sales without the need for additional integrations.

Powering the payments infrastructure for the future of payments in India

Here’s how we help banks:

• Leverage next-gen Cloud-first technology to build an end-to-end UPI stack, offering scalable and reliable infrastructure, superior performance leading to higher success rates, and faster go-to-market for new features.
• EvolveHQ by Razorpay revolutionises payments infrastructure with a comprehensive solution tailored for Indian banks, augmenting existing payment stacks with cutting-edge innovations. By integrating powerful payment methods like UPI and cards, EvolveHQ empowers banks to improve success rates, enhance customer experiences, and drive revenue growth economically and technically.

Here’s how we help businesses: 

• Razorpay’s UPI Switch gives you an end to end UPI stack. With features like 5x faster access to innovations, 5000+ TPS, and <100 MS latency, it enables businesses to offer a scalable, reliable, and agile experience on UPI payments, freeing them from dependencies on multiple intermediaries.
• Say goodbye to legacy systems and launch your UPI App fast with TPAP Pro. Integrate in under a month, reach millions with visibility on our checkout, and ensure seamless payments with real-time routing among multiple banks. Focus on your business while we take care of your infrastructure.

Redefining retail and revolutionising offline payments 

Here’s how we unlock POSsibilities! 

• Transform offline payments with our Razorpay POS. Our Tap & Scan Soundbox revolutionises transactions by embedding QR codes with bill amounts, offering dual functionality for Credit/Debit Cards or QR payments. Powered by AI, automated reconciliation ensures accuracy, while Razorpay BillMe drives engagement with lightning-fast deployment and personalised experiences.
• Provide a seamless in-store payment experience with instant refunds for failed UPI transactions within 2 minutes, compared to the industry standard of 5 to 6 business days. With Razorpay POS device’s automated system, the refund process takes a maximum of 2 minutes, significantly improving checkouts and customer satisfaction.
• DrishtiPay facilitates easy-to-use, innovative Card and UPI payments for the visually impaired. Seamlessly integrating with UPI apps and cards, DrishtiPay operates even without an internet connection, ensuring accessibility and inclusion in financial services.
• Addressing payment challenges head-on, Dynamic Soundbox offers a one-stop UPI solution with audio and visual payment confirmation capabilities. By generating dynamic QR codes directly on the device, cashiers can eliminate manual input, reduce billing time, and enhance efficiency at the point of sale.
• Razorpay POS also has a wide range of QR payment solutions and form factor innovations tailored for enterprise retailers. From Tap & Scan Soundbox to WearPay Smartwatch and Android Mini Smart POS Pro, these innovations revolutionise the payment experience, ushering in a seamless, omnichannel commerce era.
• Harness the power of AI with Razorpay Recon, a game-changing reconciliation platform offering intelligent automation, predictive analytics, and effortless onboarding for businesses seeking efficiency and accuracy in financial data management.

And for all things digital billing…

• Razorpay BillMe has  revolutionised customer engagement and repeat purchases. With digital bills, you can convert paper bills to GST compliant digital bills, enhancing convenience and compliance. Our platform collects, organises, and gains insights from multiple channels, and helps you optimise customer engagement strategies and lets you utilise digital invoices to drive higher retention, increase sales through intelligent targeting, personalised offers, and cross-sell opportunities.
•  Automate data collection and ensure a seamless in-store checkout experience with Auto Fetch on Razorpay POS. Minimise manual errors, achieve best-in-class data accuracy, and enhance targeting and retention for improved customer satisfaction and sales.

We’ve reimagined Payroll for enterprises

• Easy integration of RazorpayX Payroll’s Universal HRMS and seamlessly bridging the gap between HR and finance systems. Enjoy automated employee onboarding and offboarding, along with real-time alerts for employee status changes, with over 25 HRMS integrations including SAP SuccessFactors and Oracle HCM.
• Say goodbye to delayed salaries and compliance issues with RazorpayX Payroll’s cutting-edge technology is tailored for Large Enterprises with 45+ HRMS partners, advanced enterprise features, and customizations to streamline payroll processes and ensure compliance.

Payouts were never this seamless and efficient 

• RazorpayX Payouts Pro launched India’s Only – AI-powered Multi-Bank Router, a breakthrough in the payouts technology. A first-ever smart routing engine backed by state-of-the-art downtime detection algorithm for your Current/Escrow Accounts to offer success rates greater than 99.8%. 
• Simplify operations for NBFCs & Fintechs with RazorpayX’s comprehensive digital lending tech stack. While we handle the tech for you can focus on growing your business. 
• Ensure instant, reliable, and affordable bank account verifications with RazorpayX’s Instant Bank account verification. 

Effortless control over every aspect of source-to-pay 

• We’ve solved expense management headaches for retail chains and businesses with UPI Pettycash+ by seamlessly integrating UPI technology, enhancing operational efficiency, budget compliance, and bottom-line growth.
• Our ERPMaximiser transforms ERP systems by streamlining vendor onboarding, enhancing communication, and unlocking working capital. With seamless integrations and customizable workflows, businesses optimise operations, drive efficiency, and unlock growth potential.
• With the Input Tax Credit Checker we’ve now put GST ITC recovery on auto-pilot, ensuring savings with automated risk identification, credit recovery, and cash flow reconciliation. 
• Vendor Scorecard grades vendors based on multiple parameters to help merchants identify trusted vendors easily. 

And we haven’t forgotten about the next generation of Disruptors

Rize-ing to the challenge 

• Razorpay Rize is a startup program focused on the growth journey of early stage and bootstrapped startups who have raised no more than $5M in funding can be a part of this incubator program designed for the disruptors of tomorrow. Whether you’re just starting out or looking to scale, Rize empowers early-stage startup founders with the right knowledge, unwavering support, and expert guidance. 

To sum up…

Our commitment to supporting the disruptors of today’s business landscape remains steadfast. At Razorpay, we are continuously innovating and expanding our lineup of products to ensure the most seamless payment experiences for businesses and end customers alike. 

As we look ahead to the future, and with India poised to have over 600 million users digitally transacting within the next 5-10 years, we are excited to be a part of this transformative journey, empowering businesses to thrive in a digital economy. 

Together, let’s create a future where payments are effortless, efficient, and accessible to all.

Thanks to R.A.Y., you can ‘Consider it done’!

Razorpay recognised a few challenges

In today’s competitive landscape, businesses must enhance their decision-making capabilities and improve operational efficiency to drive success, while allowing key personnel to focus on critical tasks that matter. However, business teams still spend time on manual tasks that take up significant energy. Here are some of the prevalent issues facing leadership in these organizations, spanning payments and payroll:

Problems in payments:

1. Lack of Efficient Data Management and Analytics: 80% of businesses desire partners to provide detailed insights into their business, such as loyal customers, top-performing offers, and preferred payment methods. 
2. Tedious Routine Tasks: Navigating the onboarding and dashboard has been described by users as “tedious”, with 25% businesses reaching out for assistance, and 70% of these queries are to primarily understand capabilities and status of their account.
3. Less Awareness of Payment Products: This leads them to stick to the first product they use without utilizing the full benefit and ease of collecting online payments.
4. Lack of an Enhanced User Experience: Research confirms that issues like slow processes and unclear information (e.g., ticket closure, payments, settlements) are among the primary reasons for customer churn for businesses.

Problems with Payroll:

1. Insufficient Efficiency: It takes more than 2 days to create a custom payroll report and analysis from Payroll data.
2. Resource Drain: One HR spends over 50 hours per month– just onboarding new employees.
3. Costly Comparison: Compensation Benchmarking requires significant expenditure. We are talking lakhs of rupees!
4. Taxation Trouble: Most employees struggle with tax planning impact company experience.

This is where R.A.Y. comes in as the assistant that helps you analyze data, summarize trends, do tasks and give actionables. It provides a unified voice to Razorpay customers and aims to be the first touchpoint anytime anyone wants to know something. Accessible across WhatsApp, Razorpay Mobile App, and Dashboard, R.A.Y. is there to support you on your preferred platform.

Key benefits for Payments

Transitioning from a reactive to proactive approach, our payment solution offers both predictive insights and on-demand capabilities, empowering businesses to anticipate needs and act decisively.

• Effortless Payment Setup with AI-Driven Solutions: Initiating payment collection has never been easier. Whether it’s payment collection, receiving settlements, managing invoices, or handling recurring billing, R.A.Y. simplifies the entire payment process, saving time and reducing the risk of errors. 

• Proactive Alerting: R.A.Y. diligently operates behind the scenes, delivering proactive notifications regarding downtimes, delays, and insightful analyses, enabling you to make more informed plans and decisions.

• Seamless Monitoring with Streamlined Prompts: Simply inquire, and effortlessly receive transaction updates and daily summaries, ensuring you stay informed and empowered to make well-informed decisions regarding your business performance.

• Personalized Recommendations for Tailored Products: In a sea of options, finding the right products and services can be a daunting task. That’s why you receive personalized recommendations for tailored products, providing you with the tools to succeed—from the best payment solutions and optimized marketing strategies to accessing exclusive offers.
• Exponential Business Growth: With live updates and actionable insights, R.A.Y. keeps you ahead, effortlessly spotting opportunities and risks. Its AI-driven monitoring ensures seamless operations for success.

Key benefits for Payroll

With a comprehensive suite, it caters to everyone from founders to employees, ensuring seamless operations for all involved.

• Actionable Insights: R.A.Y. sources instant insights from Payroll and HR data through simple language interactions to speed up your decision-making process.
• Compensation Benchmarking: R.A.Y. empowers businesses to make informed decisions on salary structures, incentive programs, and overall compensation strategies, ensuring competitiveness in the labor market.
• Intelligent Tax Planning for employees: By analyzing salaries and investments, R.A.Y. recommends the optimal tax regime and provides intelligent tax-saving strategies. 

In Conclusion

With R.A.Y. at the helm, Razorpay empowers businesses to soar to new heights of success, accomplishing more with fewer resources. R.A.Y. signifies a groundbreaking leap in AI for fintech, setting unprecedented standards for efficiency, innovation, and growth. Available round the clock and on-demand, it sets new standards for efficiency, innovation, and growth. Embrace the future of business with R.A.Y., and let’s unlock the full potential of your business together.

Imagine being able to instantly access a pre-vetted pool of reputable vendors, handpicked by RazorpayX experts to match your specific needs. This is the vision behind Vendor Shield, a revolutionary new system designed to simplify procurement for merchants and empower vendors to showcase their credibility.

Key Challenges and User Pain Points

Our research uncovered several key pain points faced by both merchants and vendors:

On the Merchant Side:

• • Manual Vendor Sourcing: Finding the right vendor often involves tedious manual searches and evaluations, leading to wasted time and resources.

• Vendor classification: Getting top/ risky vendors classified based on past records

• Lack of Vendor Credibility Assessment: Evaluating vendor reliability and performance can be challenging, leaving merchants susceptible to poor partnerships.
• Difficulty in Tracking Cost-Effectiveness: Monitoring vendor costs and ensuring budget optimization can be complex, impacting financial stability.
• Compliance Concerns: Onboarding non-compliant vendors can lead to legal and financial risks.

On the Vendor Side:

• Limited Visibility to New Opportunities: Vendors struggle to reach relevant merchants and showcase their capabilities effectively.
• Difficulty Securing Contract Renewals: Demonstrating value and securing long-term partnerships can be challenging.
• Lack of Recognition for Good Performance: Vendors often lack a system to highlight their achievements and differentiate themselves from competitors.

Introducing Vendor Shield: A Win-Win Solution

Vendor Shield tackles these challenges head-on by creating a transparent and collaborative ecosystem for both merchants and vendors. Here’s how it works:

For Merchants:

• Effortless Vendor Discovery: Access a curated pool of pre-vetted vendors categorized by industry, expertise, and performance.
• Data-Driven Vendor Selection: To make informed decisions, use vendor ratings, badges, and performance reports.
• Compliance Assurance: Gain peace of mind knowing all vendors meet Razorpay’s compliance standards.
• Cost Optimization: Track vendor costs and identify opportunities for better pricing through transparent data.

For Vendors:

• Enhanced Visibility: Showcase your expertise, certifications, and achievements to a wider audience of potential partners.
• Increased Trust and Credibility: Earn badges and ratings based on your performance, building trust with potential clients.
• Improved Contract Renewals: Demonstrate your value and increase your chances of securing long-term partnerships.
• Opportunity for Expansion: Reach new merchants and expand your business reach through the RazorpayX network.

Badges and Recognition

Vendor Shield features a tiered badge system based on a comprehensive evaluation of factors like:

• Industry Expertise: Demonstrated knowledge and experience in relevant fields.
• Performance History: Track record of fulfilling orders, meeting deadlines, and exceeding expectations.
• Financial Stability: Strong financial standing and reliable payment practices.
• Customer Satisfaction: Positive feedback and high ratings from past clients.

These badges allow merchants to quickly identify top-performing vendors and give vendors a platform to showcase their accomplishments.

Vendor Shield: Building a Thriving Procurement Ecosystem

Vendor Shield promises a revolution in procurement by streamlining vendor selection, ensuring compliance, and fostering trust. Merchants enjoy greater efficiency, cost savings, and peace of mind, while vendors gain increased visibility, recognition, and business opportunities. This win-win situation empowers both parties to focus on what matters most – building successful partnerships and driving business growth.

Ready to experience the power of Vendor Shield? Stay tuned for further updates on how to join this innovative platform and take your procurement journey to the next level.

What exactly is the GST Input Tax Credit Checker? 

This feature enables you to ascertain the status of your ITC claims against specific vendor invoices with ease. By eliminating the guesswork from the process, you get complete visibility and control over your dues. Monitor the vendor’s GST filing, identify discrepancies, and control the vendor’s payouts accordingly.

Identify risk, recover dues, reconcile and control your cash flow. The GST Input Tax Credit Checker saves you both time and effort by offering the following advantages:

• Packaged in one platform: No more additional tools, single dashboard view, logins and plugins – GST Credit Checker automation is part of RazorpayX’s Source to Pay solution
• Say goodbye to manual processes: Easy error identification saves time and effort from the business’ taxation function
• Identify and work with credible vendors: Enhance vendor discipline and choose to work with vendors who are GST-compliant 
• Easy recovery of ITC dues: Better cash flow management with control over payouts
• Sync with your existing ERP  like Tally, Zoho, SAP and more: Smart and powerful integrations for automatic bill entry, bookkeeping, and reconciliation. 

How does it work?

GST Input Tax Credit Checker is designed for simplicity. It’s created to be user-friendly, even for those who aren’t tax experts. Just input your vendor invoice details (like invoice number and date), and the tool will retrieve the current status of your ITC claim from the official government portal.

Benefits beyond just checking:

This powerful tool goes beyond just status checks. It can also:

• Track your ITC history: Gain insights into past claims and identify patterns for better planning.
• Download reports: Keep organized records for future reference and audits.
• Stay compliant: Stay updated with the latest GST regulations and avoid penalties.

Claim your rightful ITC with confidence!

Don’t let uncertainty about your GST input tax credit hold your business back. Embrace the power of the GST Input Tax Credit Checker and gain complete control over your ITC claims. With this valuable tool at your disposal, you can focus on what matters most – growing your business and achieving success.

So why not seize the moment and ride the wave? Brands have a prime chance to tap into a vast network of cardholders who are actively using their cards to earn points and also, eagerly anticipating opportunities to redeem them. 

Presenting Pay with Points by Razorpay Engage

With “Pay with Points,” businesses can offer consumers the enticing option to pay with their credit card points issued by Banks in India. This innovative product revolutionizes the shopping experience by providing flexibility and savings to customers. They can seamlessly use their accumulated credit card points to offset a portion of their purchase, instantly reducing the total amount due.

By offering customers the freedom to choose how they want to pay and slashing the total bill in the process, businesses not only boost customer satisfaction but also increase funnel conversion, cultivate loyalty and drive repeat business. 

Decoding the Mystery: Why Users Browse but Don’t Shop

The phenomenon of users browsing without making purchases can often leave businesses scratching their heads. But fear not, the answer lies in tapping into the user base with substantial purchasing power, & increasing purchase intent with immediate realization of actual savings that the users can do on the product page itself. 

Users are more likely to abandon their carts if they realize that they can make more savings on a different platform or are faced with cumbersome & limited payment options. By offering instant discount realization at product page and ability to seamlessly pay with points at checkout, businesses can remove the above barriers and encourage users to convert. But the challenge continues. 

Cultivating repeat purchase behavior is essential for long-term success. It’s about fostering a sense of loyalty and connection with customers, encouraging them to return for future purchases.

Razorpay’s Pay with Points doesn’t just solve the puzzle of customer acquisition and retention; it transforms the entire landscape of customer engagement. On every transaction your customers save X% of order value with points and earn accelerated points on remaining card spends. By integrating this innovative solution, businesses not only open a new avenue for acquiring customers but also foster deeper connections with existing ones.

It’s a demonstration of understanding and catering to the needs of the modern consumer—a feat that sets businesses apart in a crowded marketplace.

Feature Arsenal

• Savings displayed on product page

Customers can now easily see their savings directly on the product page itself, empowering them to see the value of their points and make informed purchasing decisions even before reaching the checkout.

• Omnichannel support

Pay With Points offers customers the flexibility to redeem their points seamlessly during both Online and Offline checkout processes, ensuring a convenient and accessible experience tailored to their preferences.

• Plug-and-play functionality

With Pay With Points seamlessly integrated into Razorpay’s checkout stack – Standard, Custom, S2S & Magic Checkout, merchants can easily plug and play, ensuring compatibility across various platforms without hassle.

• Instant settlement

Merchants can enjoy efficient reconciliation with settlement options available on the same day or within T+2, T+7 ensuring prompt processing and providing customers with instant satisfaction and intact margins.

Customers spend more when they save more 

Gain access to a massive pool of 20 million high-spending cardholders from India’s top banks, expanding your customer base and revenue potential.

• Increased Average Order Value (AOV)

Experience a significant 9% higher AOV, indicating enhanced purchasing power and profitability for your business.

• Boosted Conversion Rates

Enjoy a remarkable 6% increase in conversion rates, translating to more sales and revenue growth.

Pay With Points stands out as a catalyst for perpetual savings for customers and redefines business profitability. By seamlessly integrating this innovative solution, businesses can drive conversions, increase average order value, drive repeat purchases and boost customer satisfaction—making it an indispensable solution in today’s dynamic market.

Moreover, offering special pricing is an effective strategy for fostering brand loyalty, as it creates moments of appreciation and adds tangible value to the customer experience. This not only enhances customer satisfaction but also has a direct impact on the bottom line, as satisfied, repeat customers are inclined to spend more over time. 

However, managing offers can often feel like a marathon, particularly when navigating the complexities of co-funded offers and the often chaotic process of reconciliation.

Introducing Razorpay Offers Engine- a one-stop shop to solve all your offer woes.

With goal-based offers that can be customized and collaborated easily with banks, fintech institutions, all your qualms about offers end here.

Simplify, Customize, Analyze, Succeed: How Razorpay Offers Engine Empowers Businesses

1. Customizable Offer Templates: Fuel Every Growth Idea

With Razorpay Offers Engine, choose from over 100+ pre-created offer types & templates, each designed to fuel your growth initiatives. Whether you’re looking to acquire new customers, increase customer lifetime value, or revive dormant accounts, our platform has the perfect template for you.

2. Flexibility in Crafting Tailored Offers

Why leave the customization to only the big players, now you can too. We understand that one size doesn’t fit all when it comes to offers. That’s why our platform empowers you to customize offers to align with your specific business goals. Whether you’re targeting a specific demographic or promoting a new product line, you can tailor offers to suit your unique needs.

3. Real-time Analytics for Improved ROI

With Razorpay Offers Engine, you gain access to real-time analytics that provide valuable insights into offer performance. By tracking key metrics such as redemption rates and customer engagement, you can fine-tune your offers for maximum impact and ROI.

4. Strengthened Partnerships with Banks and Fintech Institutions

Our platform facilitates collaboration with banks and fintech institutions, enabling you to leverage their resources and reach a wider audience. Whether you’re seeking co-funded opportunities or exploring new payment solutions, Razorpay Offers Engine has you covered.

Craft the Perfect Offer Journey with Razorpay Engine

1. Goal-based Offers

Whether you’re aiming to acquire new customers, boost customer lifetime value, or re-engage dormant accounts, our platform provides tailored solutions to meet your unique goals. Our solution is trusted by brands such as Junglee Games, Kotak securities limited, DMI finance pvt ltd, and Capfloat Financial Services Private Limited.

2. Customize Offers

If none of the pre-created templates align with your business goals, you can easily create your own offer from scratch. Define business rules for offer creation, eligibility, and acceptance to ensure that your offers are tailored to meet your exact specifications.

3. Collaboration with Banks and Fintech Institutions

Whether you’re seeking co-funded offers to incentivize purchases or exploring new payment solutions to enhance the customer experience, our partnerships with banks, other businesses, and payment service providers (PSPs) enable you to leverage their resources and expertise to achieve your business goals.

Razorpay Offers Engine isn’t just an offer management platform; it’s your key to unlocking growth. Forget tedious co-funding processes and chaotic reconciliations. Instead, fuel your brand with customizable, goal-based offers, real-time analytics, and powerful partnerships. Take control of your customer journey, boost loyalty, and watch your revenue soar. Start now and experience the power of offers made simple.

Razorpay introduces Wallet as a Service.

With a remarkable 70% reduction in back-office operation costs and approximately 15% growth in customer lifetime value through personalized offers tailored to individual preferences, our Wallet is the ultimate solution for your business. 

Serving as a unified platform for all growth-related needs, this solution under Razorpay Engage simplifies customers’ shopping and payment experiences by providing effortless ways to load funds. By seamlessly integrating loyalty programs into the payment process, Razorpay Wallet not only enhances customer satisfaction but also drives revenue growth and operational efficiency.

In short, it’s all you need to enhance customer loyalty and streamline digital payments!  

Overcoming Business Hurdles: Discounting Dilemmas, Resource Drain and Poor Reward Experience

In the fast-paced landscape of commerce, businesses could grapple with a multitude of challenges. Some of these challenges are:

• Excessive reliance on discounting: When a business notes that a customer has been inactive or not shopped for a while, they’re tempted to offer the customer a discount. However, this tends to train the consumer to buy only during a discount sale and not become a loyal customer. 
• Disjointed online and offline experiences: It is difficult to maintain cohesive customer experiences across various channels due to the fragmentation of reward programs between online and offline platforms. It’s bad for business because it diminishes customer satisfaction and loyalty, potentially leading to decreased sales and brand reputation.
• Resource drain on reconciliation and reporting: Managing and reconciling transactions across multiple channels can be time-consuming and resource-intensive, diverting valuable resources from core business activities. Businesses could end up spending more time tracking their programs and campaigns than actually marketing.

Bridge these Gaps with Razorpay Wallet as a Service 

Razorpay Wallet as a Service is an all-encompassing solution designed to tackle the challenges businesses face, offering seamless omnichannel acceptance across web, app, and POS systems. Manage cash and reward points effortlessly with flexible issuing workflows, while enjoying compatibility with Razorpay Checkout and Shopify API. 

Empower your customers to return time and again with our streamlined shopping and digital payment experience, offering effortless wallet-loading options. With our Wallets as a Service product, you can offer refunds, discounts, rewards, cashback, and gift cards all in one wallet. Easily create custom offers in just minutes, tailoring promotions to suit your unique business needs and customer preferences

All metrics in check with Razorpay Wallet as a Service

Cost savings: By reducing reliance on discounting and streamlining payment processes, businesses can achieve significant cost savings while maintaining profitability.

Increased customer lifetime value (LTV): By fostering customer loyalty and engagement through personalized rewards programs, businesses can increase customer LTV and drive sustainable growth.

Reduced customer acquisition cost (CAC): By retaining existing customers and attracting new ones through targeted rewards and incentives, businesses can lower their overall CAC and improve ROI.

The unique edge of Razorpay Wallet as a Service

Razorpay Wallet as a Service offers a range of features designed to enhance customer loyalty and streamline payment processes, including:

Customized redemption rules: Businesses can tailor redemption rules to suit their specific requirements, ensuring a personalized experience for each customer.

Custom templates: Razorpay Loyalty Wallet provides customizable templates for rewards programs, allowing businesses to create unique offers and incentives.

Omnichannel integration: With seamless integration across online and offline channels, Razorpay Loyalty Wallet ensures a consistent and cohesive shopping experience for customers.

Automated workflows: Razorpay Loyalty Wallet automates key processes such as reward distribution and redemption, saving time and resources for businesses. Furthermore, enjoy automatic reconciliation and settlement for hassle-free financial management.

PPI Wallets: Razorpay Loyalty Wallet supports integration with various PPI wallets, allowing customers to easily load funds and make payments.

To sum up, Razorpay Loyalty Wallet offers your business a compelling solution for enhancing customer loyalty and streamlining digital payments. By tackling critical challenges such as excessive discounting and disjointed customer experiences, our platform enables you to realize cost savings, boost customer lifetime value (LTV), and lower customer acquisition costs (CAC). With its robust features and seamless integration capabilities, Razorpay Loyalty Wallet empowers your business to provide personalized rewards and incentives, fostering long-term customer loyalty and sustainable growth.

Businesses often spend a big chunk of their money—up to 40% of the Average Order Value—just to get customers to transact for the first time. And to keep those customers coming back, they have to keep spending—another 15-20% of what they make. 

These expenses can significantly accumulate, posing challenges for businesses to expand and generate profits. Effectively managing these costs while ensuring sustainable growth in a competitive market is daunting. So, why not let your payment partner take over?

Scratching your head wondering how a payment partner can help? 

Razorpay understands what prompts your customers to complete the transaction. Leveraging that expertise we have built a payment-linked growth marketing stack. 

Presenting India’s First Payments Powered Growth Suite:  Razorpay Engage 

At Razorpay, we’ve extensively analyzed millions of online transactions to gain deep insights into consumer behavior, including buying patterns, offer adoption, and gift card usage. Now, we’re excited to unveil Razorpay Engage —a cutting-edge marketing tech stack that leverages the power of payments to fuel growth. 

We recognize that building lasting customer relationships requires more than just rewards. Brands need to deliver a rewarding experience. With a flexible framework that enables customization and scalability, this full-stack intelligent growth suite ensures that your business remains ahead of the competition.

Powered by Payments: How Razorpay Engage solves for sustainable growth

• Personalized Incentives Creation

Effortlessly create personalized incentives from a vast inventory of over 5,000 options, ensuring maximum impact.

• Efficient Deterministic Targeting

Harness Razorpay Intelligence to refine transaction-based audience targeting for enhanced effectiveness and precision, maximizing the impact of your marketing efforts while minimizing costs.

• New Contextual Distribution & Display Avenues 

Capture customer attention at Moments of High Intent resulting in higher conversions. Augment display touchpoints through owned channels & a 3rd party network of 8 million+ businesses and banks. 

• Extensive Network Partnerships​ with 8 mn Businesses & Banks

Leverage partnerships with brands, financial institutions, including banks, networks, and fintech issuers across ​the Razorpay ecosystem.

• Insightful Customer Behavior Analysis

Gain valuable insights into customer behavior across various channels, including in-store, app, and WhatsApp, with Razorpay Engage.

Suite at a glance- Acquire, retain and revive with Razorpay Engage

• Wallet as a service

This innovative product serves as a centralized hub for all customer rewards, simplifying the user experience by consolidating all things rewards into a single wallet. With effortless loading options, customers can easily top up their wallets, manage their savings, and seamlessly redeem their rewards at their convenience. 

• Offers Engine

At the heart of our growth marketing suite lies the Offers Engine—a dynamic tool that empowers businesses to create customized offers tailored to their unique needs. Gone are the days of one-size-fits-all promotions; with the Offers Engine, businesses can democratize offer creation, making it accessible to businesses of all sizes. 

• Gift Card Platform

The Gift Card Platform within Razorpay Engage Suite revolutionizes the way businesses manage and distribute gift cards. Through automation and simplification, businesses can streamline the process of gift card creation and distribution management, reducing administrative burden and increasing operational efficiency. 

• Rewards Marketplace

Razorpay Engage opens the door to a world of rewards through its exclusive Rewards Marketplace. This curated catalog offers businesses access to a diverse selection and seamless integration with multiple distribution channels of gift cards and offers, catering to the varied preferences and needs of their customer base. 

• Enterprise Loyalty Suite

Building and maintaining customer loyalty is a top priority for businesses, and Enterprise Loyalty Suite provides the tools and capabilities needed to achieve this goal. By enabling businesses to create tailored loyalty programs that resonate with their target audience it empowers businesses to nurture relationships and drive lasting engagement. 

• Pay with Points

With Pay with Points, businesses can tap into the power of credit card points to drive customer engagement and loyalty. By offering customers the ability to pay with their credit card points, businesses can increase affordability and incentivize spending, driving repeat purchases and increasing customer lifetime value. Additionally, by tapping into the market of cardholders, businesses can expand their customer base and unlock new growth opportunities.

• Digital Bill Enabled CRM

Razorpay Engage Digital Bill-enabled CRM transforms the way businesses engage with their customers through digital invoices. By leveraging digital invoices to drive higher retention and personalization, businesses can enhance the customer experience and increase loyalty.

With intelligent targeting capabilities and automated engagement processes, businesses can maximize sales opportunities and drive revenue growth.

On that note…

We are committed to simplifying the complexities of e-commerce while honoring the unique identity of each brand. Razorpay Engage offers a comprehensive solution to meet diverse business needs, empowering brands to thrive in their own distinct ways. 

With our reward points and gift stacks already trusted by industry leaders like Swiggy, Decathlon and FnP, and having engaged 5 million end customers through our beta launch businesses, we strive to ensure that every purchase is both rewarding for customers and profitable for brands. 

It’s a win-win situation that fosters lasting customer acquisition and loyalty and business success. Join us in revolutionizing customer lifecycle and driving growth for your brand with Razorpay Engage.

At the heart of Razorpay’s affordability suite lies a diverse array of payment options tailored to meet the varied needs of consumers. Whether it’s Buy Now Pay Later (BNPL), Equated Monthly Installments (EMI), or other flexible payment plans, customers have the freedom to choose a payment method that aligns with their financial preferences. By spreading the cost of purchases over time, these options enhance affordability and purchasing power, making high-ticket items more accessible to a wider audience.

Unveiling a Wider Payment Landscape

Forget the days of one-size-fits-all payment options. The Affordability Suite empowers you with a diverse toolkit:

• EMI Options: Cater to both credit and debit card holders with 19 credit card EMIs and 5 debit card EMIs across leading issuers. Reach even further with 6 cardless EMI partners, extending affordability to everyone.
• PayLater: Embrace the “buy now, pay later” trend with 4 PayLater integrations. Let customers enjoy their purchases immediately while settling the bill later, often interest-free.
• Targeted Offers: Sweeten the deal with custom discounts, cashback, and other promotions displayed directly on your product pages. Incentivize purchases and boost average order value.

Enhanced Customer Experience

Central to Razorpay’s affordability suite is the focus on enhancing the overall customer experience. From product selection to payment completion, the journey is carefully curated to prioritize ease and efficiency. With intuitive interfaces and user-friendly features, customers can navigate the payment process effortlessly, reducing abandonment rates and increasing conversion rates. Moreover, real-time eligibility checks for offers and instant credit approvals add further convenience, ensuring a seamless transaction every time. Additionally, the inclusion of the affordability widget empowers customers with transparent insights into available payment options and offers, allowing them to make informed decisions tailored to their financial preferences. By providing this valuable tool, Razorpay enhances customer confidence and satisfaction, reinforcing its commitment to delivering a superior payment experience.

The Benefits: From Conversion Rate Magic to Customer Delight

The impact of Affordability Suite goes beyond just adding payment options. Here’s what you can expect:

• Soaring Conversion Rates: Watch cart abandonment dwindle as you cater to budget-conscious buyers with flexible payment plans. Every customer feels empowered to purchase.
• Higher Average Order Value: Break down the perceived cost barrier of bigger-ticket items. By spreading the cost, customers might be more inclined to indulge, boosting your revenue.
• Customer Satisfaction Boost: Transparency and flexibility win hearts. Offering varied payment options shows you understand your customers’ needs, leading to higher satisfaction and loyalty.
• Wider Reach: Unlock new customer segments with Debit Card & Cardless EMI options. Attract buyers who wouldn’t have access to traditional credit card EMIs.

Effortless Integration, Measurable Results

Integration is seamless with Razorpay’s affordability suite, ensuring a frictionless experience for both merchants and customers. Whether it’s an e-commerce platform or a brick-and-mortar store, merchants can effortlessly incorporate Razorpay’s affordability solutions into their existing payment systems. This streamlined integration minimizes disruptions to the shopping experience while maximizing convenience for all parties involved.

The “Affordability” Advantage

In conclusion, Razorpay’s affordability suite represents a paradigm shift in the way we approach payments and finance. By offering flexible payment options, seamless integration, and an enhanced customer experience, Razorpay is redefining affordability and accessibility in the modern marketplace. Whether you’re a merchant looking to drive growth or a customer seeking financial flexibility, Razorpay’s affordability suite has something to offer for everyone. It’s time to unlock new possibilities and embrace a future where financial empowerment knows no bounds.

Here’s how we fight the cart abandonment monster:

1. Pre-Emptive Strike: Eligibility Check (20% Success Rate Boost!)

Gone are the days of failed payments due to ineligibility. The secure phone number based eligibility check instantly reveals relevant credit options your customers can avail, minimizing drop-offs and boosting success rates by 20%!

2. Smart Nudges: Convert Hesitation to “Buy” (No More Last-Minute Abandonment!)

Don’t let hesitation stop purchases! Intelligently nudge customers towards converting high value Credit or Debit Card payments into flexible EMIs, turning potential last-minute drop-offs into conversions and increase your conversion rates.

3.  Personalized Fit: The Perfect EMI Plan for Everyone (Goodbye, Confusion!)

Razorpay’s advanced ML algorithm recommends personalized EMI options tailored to each customer’s preferences and financial profile, ensuring a smooth, hassle-free experience that converts. 

4. 
   

   Sweeteners: No Cost, Low Cost, Discounts, Cashbacks (Boost AOV and Conversions!)

Incentivise customers with attractive offers like No Cost and Low-Cost EMIs, Discounts, and Cashbacks powered by Razorpay offer engine. Don’t just run offers, also highlight them on product pages with Razorpay’s Affordability Widget, Discount Whisperer and easy-to-spot tags on payment checkout to unleash their true power in converting customers and boosting AOV by up to 45%.

5. Frictionless Checkouts: Native OTP for Faster Success (4% Uplift!)

No more redirects and waiting for OTPs! With Razorpay Native OTP, customers can complete their EMI purchases in a jiffy, increasing Credit Card EMI success rates by 4%.

Razorpay EMI Checkout: Deliver a seamless, affordable experience that conquers cart abandonment and unlocks higher conversions!