At the Razorpay D2C & Retail Summit ’24, we tackled this question with an expert panel featuring Taniya Biswas, Founder of Suta, Ganesh Sonawane, Founder of Frido, Mohit Sadaani, Co-founder of The Moms Co., and Aakash Anand, Founder of Bellavita. 

In this insightful session, the panel shared practical strategies and candid advice on overcoming payment hurdles D2C brands face. The panel discussed how perfecting your secret sauce for checkout involves much more than just optimising the payment process—it requires laying the groundwork across multiple areas. They emphasised that while a frictionless checkout is key, true D2C success is about much more—it’s about mastering every part of the customer journey and going beyond the final step!

Here are 3 key takeaways from the session that will get you thinking: is your secret checkout sauce really just about the checkout, or is there more to it?

1. The Customer is Always King

What are the real problems your customers face? What exactly are you solving for? As a D2C founder, the first step is to deeply understand these issues. Keeping your customers at the heart of your strategy sets the foundation for meaningful success.

The session emphasized the importance of owning the problems your customers face and showcasing them in your campaigns. Highlighting how your product’s features can address these challenges builds a strong connection. For instance, show how your solution can simplify a process or make life easier, rather than getting caught up in technical details. Every part of your funnel should illustrate how your product alleviates their pain points.

Don’t stop there—engage with your customers to gain deeper insights. For example, Suta discovered from conversations with younger customers that they wanted to wear sarees but struggled with draping them. This kind of direct feedback provides invaluable insights that data alone can’t offer. By understanding these nuances, you can better anticipate their needs and remove any barriers to purchase.

“Showcase the problems you’re solving in your creatives. When your audience sees how you tackle their challenges, they’ll start to forge a genuine connection with your brand.” Ganesh Sonawane, Founder of Frido

2. Content is Still King!

Before a customer even reaches the checkout stage, they must first discover your brand in a crowded marketplace. They need to learn about you, explore your catalog, and feel compelled to make a purchase. So, how do you capture their attention and guide them through this journey?

Once you’ve identified the problem you’re solving, the next crucial step is to define your brand identity. What does your brand stand for? What values does it uphold? What is your brand’s language and, most importantly, what’s your story?

Take Suta, for example. They’ve made sure their products stand out for their quality while also highlighting their support for Indian artisans and weavers. This connection makes customers proud to wear Suta and be part of a larger narrative. Similarly, The Moms Co. emphasizes rigorous questioning at every stage of their process to ensure they deliver the best for their users. 

“If you’re authentic, people will remember you. They come back for your products because they trust your quality.” Taniya Biswas, Founder of Suta

In essence, building a great product is crucial, but crafting a compelling brand story is equally important. Content has always been king! It’s through your story and the value you communicate that you build trust, engage your audience, and drive repeat business. 

“Own your content. Own your brand language. Own your story. Make sure people believe in why you’re doing what you’re doing.” Aakash Anand, Founder of Bellavita

3. Mastering the Checkout Experience

Once the first two steps are in place, it’s time to refine your checkout experience. You’ve already laid the groundwork —now it’s about optimizing sales, growing your D2C presence, improving conversion rates, reducing COD orders and RTOs, incentivizing prepaid sales, and ensuring a solid logistics system.

Many customers may add items to their carts without completing the purchase. The easier your checkout, the higher your conversions. Create a touchpoint with your customers after they add to their cart, guiding them through the process. 

One challenge that arises in this phase is managing COD orders, which often account for a large share (around 60-70%) in the early stages as customers build trust. However, a significant portion of RTOs typically stems from COD orders. Adding a small COD fee can create some friction and help reduce these returns, while ensuring faster delivery times can also make a difference.

Additionally, selling across both your D2C site and marketplaces can complement your growth, as long as it doesn’t negatively impact your margins. Offering a 10-15% discount on prepaid orders can incentivize quicker sales, and in marketplaces, converting traffic into actual purchases is crucial to maintaining strong listings and overall profitability.

“Making a mom’s life as easy as possible is our goal. If she can buy more easily from a marketplace, why force her to visit our website? It’s all about solving for the customer.” Mohit Sadaani, Co-founder of The Moms Co.

To Sum Up…

A frictionless checkout experience, backed by a strong brand identity and deep customer understanding, is key to D2C success. It’s about optimising every touchpoint in the customer journey, ensuring they connect with your story and trust your process. When everything aligns, your secret sauce becomes a recipe for growth.

We looked around and found ourselves at the heart of disruption—and it was exhilarating. At the Razorpay D2C and Retail Summit, disruption wasn’t just encouraged; it was celebrated. The sessions were driven by some of the boldest minds in the industry, one of which focused on Engagement: The Challenging Economics of Retention & Loyalty.

The session was hosted by Rahul Kothari, COO of Razorpay, and featured a panel of industry leaders: Rahul Gupta, VP of Product/Tech at Zomato; Avi Kumar, CMO of FnP; Clifton David, VP of Solutions & Sales at Gupshup; and Nakul Kumar, Founder of Cashify.

Every Entrepreneur’s on a Quest for Customer Retention

“Customer retention depends on delivering exceptional service, particularly in high-frequency transactions. At Cashify, we’ve learned that offering robust warranties, reliable repair services, and addressing e-waste concerns are crucial. By focusing on a seamless and trustworthy experience, we not only build customer trust but also foster loyalty and repeat business.” Nakul Kumar, Founder of Cashify

For brands, it’s no longer just about acquiring customers—they want to captivate them, keep their attention, and build lasting loyalty. Now, how to do that? It’s a million dollar question! We found the answers in this session. We had a front-row seat to the secrets of customer retention and growth across various industries. From acquisition and retention to community building, the panel covered the entire customer journey, revealing how each step contributes to a larger win and telling us exactly how to achieve it.

1. Mastering the Balance: Acquisition Meets Retention

Acquire or retain- What should you focus on more? Well, it’s a loop. Acquisition starts the journey by drawing in new customers. As they engage with your brand, Customer Experience becomes crucial—ensuring every interaction is exceptional to keep them satisfied. Next, the focus shifts to Retention, aiming to maintain their loyalty. Data Insights then loop back into the process, refining strategies to enhance both acquisition and retention. 

This creates a continuous cycle where satisfied customers advocate for your brand, attracting new customers and sustaining growth. Integrating these elements achieves a balanced, self-reinforcing growth model where each stage supports and enhances the others.

“Focusing on retention by improving user experience and service reliability helps not only in keeping current customers but also attracts new ones through positive word-of-mouth. It’s a virtuous cycle where happy customers become brand advocates.” Rahul Gupta, VP of Product & Tech at Zomato

2. Keeping It Fresh: Engagement Strategies for Occasional Shoppers

Drawing from his personal experience, Avi Kumar, CMO of Ferns N Petals talked about infrequent customer interactions. For instance, in the gifting industry maintaining engagement requires creative and strategic approaches.

Since customers don’t shop often, brands must find ways to remain relevant and top-of-mind through personalized and timely communications. This could involve sending seasonal reminders, engaging through social media, and gathering feedback to continuously improve. Such strategies help keep the brand in the customer’s consciousness and foster a sense of connection that encourages repeat business. 

“We use quality checkpoints and personalized communication to ensure that our brand stays top-of-mind. By implementing seasonal reminders and actively seeking feedback, we encourage repeat purchases and keep our customers engaged despite the infrequency of their interactions.” Avi Kumar, CMO of Ferns N Petals

3. B2B vs. B2C: Tailoring Your Retention Playbook

Retention strategies need to be customized for B2B and B2C environments due to their distinct characteristics. B2B businesses often benefit from data-driven communication channels like WhatsApp, which help in delivering precise information and support tailored to business needs.

In contrast, B2C strategies should focus on delivering unique features and creating a seamless, enjoyable customer experience. The goal is to address the specific needs and expectations of each segment, ensuring that your approach resonates and effectively builds long-term loyalty. 

“For B2B, leveraging platforms like WhatsApp for data-driven communication allows us to engage customers with relevant information and support. In contrast, B2C strategies thrive on delivering unique features and ensuring a smooth, reliable customer experience to keep consumers coming back.” Clifton David, VP of Solutions & Sales at Gupshup

To sum up

Keeping the conversation with your customers going and really understanding what they need is crucial for success. It’s not just about getting them through the door; it’s about making sure they want to come back. Offering smooth refund processes, personalised vouchers, and tailored experiences can make a big difference.

Know what your customers want, solve their problems when they come up, and reward their loyalty with perks that matter. By focusing on these elements, you not only meet but exceed their expectations, turning satisfied customers into loyal advocates who keep coming back for more.

Developed by the NPCI, WhatsApp Pay is an in-chat UPI-based payment method that seamlessly enables users to execute transactions with their contacts safely, and directly via WhatsApp chats.

WhatsApp Pay is a payment feature that enables users to send and receive money directly through the WhatsApp chat interface. It’s powered by BHIM UPI and processed by payment partners in India.

Uses of WhatsApp Pay?

WhatsApp Pay officially debuted in India in February 2018, partnering with ICICI Bank for a trial run.

How Do WhatsApp Payments Work?

You must first link your bank account to the app and choose the recipient contact to send money using the WhatsApp payment feature. To complete the transaction, you must enter the amount and UPI PIN.

How to Activate WhatsApp Pay?

Step 1: Open WhatsApp on your phone or tablet

Step 2: Go to ‘Settings’ and select ‘Payments’

Step 3: Tap on ‘add new payment method’ and select your bank from the list of options.

Step 4: Verify your number and allow WhatsApp access to your bank details

Step 5: Finish the process of WhatsApp payments by tapping ‘Done’.

How to Send Money on WhatsApp Pay?

STEP 1: Open your WhatsApp chat with the person you want to pay.

STEP 2: In the bottom right corner, you’ll see the ‘₹’ icon.

STEP 3: Select and enter the amount.

STEP 4: Verify the payment by entering your UPI PIN.

STEP 5: A message will confirm the payment.

How to Receive Money on WhatsApp Pay?

Features of WhatsApp Payments

• Seamless transactions of money securely within chats.
• Transfer funds to friends and family members.
• Pay bills for services, shopping, and utilities easily via the app.
• Split expenses and request group members to pay their share.
• Secure and easy-to-use interface without needing to switch apps to make payments.

Benefits of WhatsApp Payments

• Fast and Easy: Send and receive money instantly to and from contacts within your chats.
• Secure Platform: Assurance and reliability by using UPI for secure transactions.
• Cashless Convenience: Cashless transactions with no extra costs and ease of managing finances.

What Are the Modes of Transaction in WhatsApp Pay?

To facilitate seamless financial operations, every WhatsApp pay user can use their unique UPI ID to send and receive payments through the linked bank account or a QR code. WhatsApp Pay offers several modes of transactions, such as credit cards, debit cards, UPI, etc.

WhatsApp Integration with UPI: The Power Behind the Pay

The National Payments Corporation of India created UPI to help people send and receive money. When you pay someone using WhatsApp money transfer, UPI moves the money between your bank account and the recipient. This integration comes with robust security measures, such as two-step authentication and end-to-end encryption, to ensure secure transfers.

Introducing in-app payments on WhatsApp Business with Razorpay 

At Razorpay, we have never stopped innovating in our quest to make life easier for businesses and their customers. Today, we are delighted to announce the launch of an embedded payment solution for WhatsApp that will transform the way Indian businesses and their customers interact with the platform.

With Razorpay Payment Gateway, Indian businesses can now offer their customers a native payment experience inside WhatsApp. 

This means that businesses and their customers can sell and buy entirely on a WhatsApp chat thread without having to open another app, visit a website, or make a payment by other means. Consumers will have access to a wide range of payment options directly on WhatsApp. 

From browsing a new catalog of products to buying one, from receiving a bill to paying it, and from requesting an appointment to booking one with advance payment – customers can now complete the entire journey on WhatsApp.  

This opens up a range of commercial opportunities for businesses – recovering abandoned carts, upselling, collecting advance payments, securing COD orders, and so much more.

Categories of all types, including travel, utilities, education, financial services, telecom/OTT, professional services, and e-commerce will be able to make the most of Razorpay payments on WhatsApp. 

Recovering abandoned carts, upselling, collecting advance payments, or securing COD orders – brands can create multiple commerce opportunities on the WhatsApp Business platform with this feature.

Why Razorpay on WhatsApp is best for your business

Fewer drop-offs: You can close the entire discovery-to-payment loop directly on a WhatsApp chat thread, thereby reducing drop-offs

Frictionless checkout: With the power of Razorpay’s industry-leading technology, offer your customers 100+ payment methods, including EMI and pay-later options, saved cards and native OTP

All this adds up to a great purchase experience for your customers and increases their preference for your brand! 

Related read: Types of payment fraud and how to prevent them

How to enable Razorpay on WhatsApp Business

The entire process can be completed in a few steps. All it takes is: 

1. Integration with WhatsApp Business API
2. An active Razorpay account

We have enabled all major BSPs in the country to offer this integration with just a few clicks, significantly reducing your effort.

If you do not have an active Razorpay account, have not integrated with the WhatsApp Business API, or your BSP doesn’t yet have the integration available, please reach out to us today

Conclusion 

WhatsApp is not just the most popular chat app in India but also the most preferred channel for consumers to interact with brands. The speed and convenience of this seamless, new payment experience on WhatsApp will delight customers and businesses in equal measure. All you have to do is download WhatsApp and activate WhatsApp Pay today to experience effortless payments. Now that you know what is WhatsApp payment, you can use the feature better and make payments without any hassle.

The Razorpay solution for WhatsApp is set to revolutionize digital commerce in India and is a chance for you to unlock enormous growth!

So be where your audience is, and turn all your customer chat into sales!

Frequently Asked Questions (FAQs)

1. Are WhatsApp payments safe?

Yes, WhatsApp payments are end-to-end encrypted, which ensures secure transactions on the network.

2. Where do I find the payment option on WhatsApp?

You can find the payment option in the bottom right corner, along with the other shortcuts.

3. What is the maximum amount of money that can be transferred via WhatsApp Pay?

The government of India has imposed a threshold limitation of ₹1 lakh for transfers using WhatsApp UPI.

4. How much does WhatsApp charge for payments?

WhatsApp payments in India are absolutely free to use.

5. Do WhatsApp payments work internationally?

Meta is reportedly working on the launch of an international payment feature that will allow customers in India to send money directly to selected global merchants, with their banks having enabled international UPI services.

6. What are the disadvantages of WhatsApp payments?

WhatsApp payments may not be suitable for high-value transactions as there is a transaction limit of ₹1 lakh.

7. Do WhatsApp payments give cashback?

Yes, when you send money to friends or family via WhatsApp for the first time, you get ₹35.

10 Best Practices to Safeguard to Follow

1. Comprehensive Identity Verification

Start by verifying the identity of your customers through robust processes, including phone number verification, email verification, and KYC (Know Your Customer) checks. This should be done both at the time of booking and during check-in to ensure the authenticity of each transaction.

2. Confirmations on Check-in & Check-out

Send confirmation emails and SMS messages during check-in and check-out. This step helps verify customer contact information, ensuring that your records are accurate and that the right person is using the service.

3. Transaction Monitoring

Closely examine every transaction for potential fraud indicators. This includes checking the type of credit card used, the geolocation of the transaction, and the velocity (frequency) of transactions. Monitoring these aspects can help you spot suspicious activities early.

4. Vendor and Partner Screening and Reviews

Conduct thorough background checks and vetting processes for all vendors and partners. Regularly review and audit their performance to ensure compliance with contractual agreements and maintain high standards across your network.

5. Transparent Pricing

Clearly list all prices, including applicable taxes, convenience fees, and surcharges. Avoid hidden fees by providing a detailed breakdown of all costs upfront, which helps in building trust with your customers.

6. Detailed Receipts and Confirmations on Booking

Provide detailed receipts and booking confirmations that include a clear breakdown of costs and services. Ensure that these are shared via email and SMS, giving customers a complete record of their transactions.

7. Clarity and Transparency in Itinerary

A well-detailed itinerary should provide clear information about the travel plans, including dates, times, locations, and activities. This transparency reduces the likelihood of chargebacks and enhances customer satisfaction.

8. Bankruptcy and Embargo

In the unfortunate event of bankruptcy, strikes, or regulatory embargoes that lead to the cancellation of travel plans, merchants are responsible for informing customers and providing refunds or alternative arrangements promptly.

9. Unforeseen and Uncontrollable Events

Clearly communicate policies related to Force Majeure events, such as natural disasters or pandemics. Ensure that your customers understand the refund policies and alternative arrangements available in such circumstances.

10. Customer Support, Refund & Cancellation Policies

Offer robust customer support through multiple channels. Clearly outline your refund and cancellation policies to manage customer expectations and enhance their trust in your business.

To sum up… 

By adhering to these best practices, you not only protect your travel business from fraud but also strengthen the trust and confidence of your customers. A proactive approach to security is essential in today’s competitive marketplace, and we at Razorpay are here to support you every step of the way. If you have any questions or need assistance in implementing these strategies, don’t hesitate to reach out to us.

At Razorpay, we’ve embarked on a mission to unlock this potential. We delved into the science of frictionless conversions, analyzed customer behavior, and prioritized security to craft a revolutionary checkout experience: the brand-new Razorpay Checkout. This isn’t just about shaving seconds off checkout; it’s about redefining the checkout as a strategic touchpoint that fosters trust, boosts conversions, and strengthens your brand identity.

Engineering a Blazing-Fast Checkout Experience

The brand-new Razorpay Checkout is built upon the core principle of one-click checkout simplicity. We’ve harnessed the power of pre-filled addresses and streamlined workflows to reduce the checkout process to a mere 9 seconds. This lightning-fast checkout experience minimises drop-offs, keeps customers engaged, and ultimately leads to increased conversion rates.

But speed is just one piece of the puzzle. We’ve also prioritized fostering trust and security, two pillars essential for a successful checkout experience. Here’s how the brand-new Razorpay Checkout tackles these challenges:

India’s Most Trusted Checkout

First-time shoppers are often hesitant to share their information online. The new Razorpay Checkout integrates seamlessly with the Razorpay Trusted Business Badge, instantly signalling reliability and putting new customers at ease.

Effortless Checkout with Automatic Data Pre-Fill

There’s no need for manual input. Email addresses, phone numbers, shipping details, and payment information, including OTPs for new customers, are all automatically pre-filled. This simplifies the checkout process, makes it 5x faster, and boosts the conversion rate by 40%. 

Gamified Promotions

Who doesn’t love a good deal? The new Razorpay Checkout allows you to personalize and gamify promotions by offering targeted coupons and discounts directly at checkout. This not only increases customer engagement but also boosts your average order value by 47%.

Your Brand, Reflected in Your Checkout

A seamless checkout experience shouldn’t come at the cost of your brand identity. The new Razorpay Checkout empowers you to customize the entire checkout flow with your brand colours, fonts, and logos. This ensures a consistent and cohesive brand experience, from product browsing to successful purchases, with our lightning-fast checkout experience. 

Intelligent COD (Cash on Delivery)

Cash on Delivery remains a popular payment method in India. However, it can be susceptible to fraudulent orders. Our intelligent COD system utilizes sophisticated algorithms to proactively identify and intercept fraudulent orders at checkout, saving you time, money, and the hassle of managing disputes.

Effortless Checkouts, Soaring Sales: The Razorpay Checkout Advantage

The new Razorpay Checkout isn’t just a product; it’s a strategic investment in your business’s future. By prioritizing speed, security, and brand consistency, you can transform your checkout process from a hurdle to a conversion catalyst.

New to Razorpay? Click the link below to join the future of effortless shopping.

Customers hate waiting, and long lines are often the top reason they avoid coming back. This problem intensifies during peak festive seasons when customers flock to stores for their festive needs. Studies show that shoppers are more likely to head to a competitor’s store if they believe the checkout process will be quicker. This isn’t just a hassle for customers; it hits businesses hard. 

For retailers like you, this leads to not just lost sales but also a tarnished reputation. Shoppers queuing to pay for a product is often cited as the worst part of an in-store experience, significantly impacting customer satisfaction and loyalty. Negative shopping experiences, like long waits, cost retailers around $71 billion annually in abandoned sales globally.

Introducing Q-Zap: Say Goodbye to In-Store Queues

Razorpay POS tackles these issues head on with Q-ZAP, a comprehensive suite designed to revolutionize in-store payments. Q-ZAP offers solutions that go beyond the traditional billing counter, making the payment process smoother and faster.

Why Q-Zap & Why Now? 

With the festive season approaching and the surge in online competition, offering a stellar in-store experience is more crucial than ever. Implementing Q-Zap ensures your store is ready for high traffic, keeping customers happy and your sales up.

With Q-Zap, you experience:

• Reduced Billing Wait Time: Decreased by up to 40%, enhancing customer satisfaction and store efficiency.
• Space Optimization: Freeing up to 23% of in-store space, allowing for better product displays and customer flow.
• Cost Efficiency: Lowering annual operating costs by 15-20%, improving your bottom line.
• Fast Implementation: With over 80+ billing partners, Q-Zap can be implemented quickly, cutting down go-live time from weeks to just 4 days.
• Comprehensive Solution: Q-Zap integrates both hardware and software, providing a holistic approach to queue busting.
• Customized Integrations: Offers tailored ERP and front-end app integrations, essential for real-time access to customer information, product pricing, and inventory updates.

While other payment solution providers claim to offer queue-busting solutions, none match the comprehensive nature of Q-ZAP!

How Does Q-Zap Work?

Q-Zap is designed to streamline the payment process with several innovative features:

1. Handheld Devices: Your sales staff can carry these to accept payments from anywhere in the store. They come with long battery life and support both UPI and card payments. Infrared scanners make it easy to scan barcodes and complete transactions on the spot.
2. Kiosks and Vending Machines: These allow for self-checkout, reducing reliance on traditional billing counters and speeding up the process.
3. 3. Plug-and-Play Integrations: With over 80+ billing partners, Q-ZAP can be implemented quickly, cutting down go-live time from weeks to just 4 days.
4. Customized ERP Integrations: These integrations are crucial for queue busting, allowing sales personnel to access customer info, product pricing, and update inventory in real-time.
5. Custom Front-End Apps: Integrated with the merchant’s backend, these apps help in bill generation and payment acceptance seamlessly.

 At Razorpay, we are committed to empowering businesses with tools that ensure seamless payment experiences. Q-Zap, our queue-busting solution, aims to not only eliminate tedious checkout lines for customers but also to free up in-store staff’s time so they can be available to customers and provide them assistance, which could include answering questions or facilitating customer checkout.

As India’s consumer market evolves dynamically, so do the needs of businesses. With the market poised for exponential growth, achieving the ambitious $2 trillion target by 2033 requires robust infrastructure. Razorpay prides itself on innovation, constantly developing agile solutions to address key pain points in the entire money movement journey of not just online businesses, but offline too.

Rahul Kothari, Chief Operating Officer, Razorpay

Real-World Success Stories

Don’t just take our word for it. Major brands like Decathlon, Dominos, Airtel, and Carrefour are already reaping the benefits of Q-ZAP. These retailers have seen a significant reduction in wait times and improved customer satisfaction, driving higher foot traffic and boosting sales. For instance, Decathlon reported smoother operations and happier customers post-Q-ZAP implementation, while Carrefour saw a noticeable uptick in sales and customer retention.

Experience a New Era in In-Store Payments with Q-ZAP by Razorpay POS

In today’s competitive retail environment, a hybrid approach to customer engagement is vital. As we embrace this omnichannel future, Razorpay POS has not just changed but revolutionized how businesses handle in-store payments.

Q-ZAP represents a significant milestone in retail payments, bringing forth unparalleled efficiency, reliability, and customer satisfaction. With Q-ZAP, you can transform the in-store experience, making long queues a relic of the past. Razorpay POS empowers businesses to deliver seamless and quick payment experiences, ensuring customers leave your store happy and eager to return.

Upgrade to the future of in-store payments with Razorpay POS!

Learn More!

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.

However, amidst this flourishing ecosystem, the specter of failed transactions looms large. For every Indian shopper, the frustration of encountering a failed transaction is all too familiar. Whether it’s during a crucial purchase or an impromptu shopping spree, the sudden disruption can lead to cart abandonment, resulting in lost revenue for online retailers.

According to industry data, approximately 25% of checkout payments fail, with only a fraction of customers successfully navigating the retry process post-failure. In such a scenario, the need for a proactive solution to address payment failures and recapture lost revenue becomes imperative.

Introducing Razorpay Intelligent Payment Retry

Razorpay Intelligent Payment Retry is a groundbreaking solution designed to revolutionize the way online stores handle payment failures. Leveraging advanced technology and extensive integration with financial and technical partners in the payment ecosystem, Razorpay Intelligent Payment Retry goes beyond traditional retry mechanisms to provide a superior failure-handling experience compared to any other checkout product in the market.

How Does Razorpay Intelligent Payment Retry Work?

When a payment fails during checkout, Razorpay Intelligent Payment Retry springs into action, utilizing a sophisticated next-best action algorithm. This algorithm takes into account a myriad of data indicators, including user preferences, error messages, merchant categories, offers, platforms, devices, and instrument downtimes. Based on this comprehensive analysis, Razorpay Intelligent Payment Retry provides clear, relevant, and practical suggestions to users, guiding them through the payment recovery process with ease.

Benefits of Razorpay Intelligent Payment Retry

• Enhanced Customer Experience: By proactively assisting users when a payment fails, Intelligent Payment Retry enhances the overall customer experience, fostering loyalty and trust.
• Increased Revenue: With its superior failure handling capabilities, Intelligent Payment Retry helps online stores recover failed payments, boosting revenue and maximizing sales opportunities.
• Streamlined Operations: By automating the payment recovery process, Intelligent Payment Retry streamlines operations for online stores, reducing manual intervention and improving efficiency.
  

Also Read: Reclaim Lost Sales: Introducing Razorpay Failed Payment Recovery

Embrace the Future of Payment Recovery

In conclusion, Razorpay Intelligent Payment Retry represents the future of payment recovery in the e-commerce industry. With its advanced technology, comprehensive data analysis, and customer-centric approach, it offers online stores a powerful tool to address payment failures effectively and maximize revenue potential.

Are you ready to revolutionize your payment recovery strategy? Get in touch with us today to learn more about Intelligent Payment Retry and discover how it can benefit your business. Don’t let payment failures hinder your growth. Try Razorpay Intelligent Payment Retry and unlock the full potential of your online store.

Manually entering OTPs can be a cumbersome process for customers, often causing delays and frustration during online transactions. However, there’s a solution on the horizon: Razorpay OTP Assist. Designed to streamline the authentication process, Razorpay OTP Assist automates the retrieval, filling, and submission of OTPs, eliminating the need for manual entry. This innovative solution enhances the overall transaction experience for customers and businesses alike, ensuring smoother and more efficient online transactions.

How Razorpay OTP Assist Works

Razorpay OTP Assist streamlines the authentication process by automating the retrieval and submission of OTPs. Here’s how it works:

Automatic OTP Retrieval: When a customer initiates a transaction, OTP Assist automatically fetches the OTP. 

Effortless OTP Application: The retrieved OTP is seamlessly applied to the transaction, eliminating the need for customers to enter the code manually.

Instant Submission: Once the OTP is filled, OTP Assist swiftly submits it, ensuring a smooth and efficient transaction process.

By automating these steps, OTP Assist significantly reduces the time and effort required for authentication, resulting in faster transactions and improved user experiences.

Benefits for Customers: Improving their Shopping Experience

Razorpay OTP Assist offers a host of benefits for customers, including:

• Convenience: With OTPs automatically retrieved and applied, customers can complete transactions with minimal effort, enhancing convenience and reducing friction during checkout.
• Time Savings: By eliminating the need for manual entry, OTP Assist saves customers valuable time, enabling faster and more efficient transactions.

Benefits for Businesses: Driving Success and Growth

For businesses, OTP Assist delivers tangible benefits that contribute to success and growth:

• Increased Transaction Success Rates: By optimizing authentication processes, Razorpay OTP Assist boosts transaction success rates by 3%, resulting in higher conversion rates and increased revenue for businesses.
• Improved Customer Satisfaction: Let your customers enjoy a 4X faster OTP experience, enhancing satisfaction and loyalty with a smooth transaction process that fosters long-term relationships and repeat business. 
• Enhanced Operational Efficiency: With automated OTP retrieval and submission, businesses can streamline their operations, reducing manual intervention and improving efficiency.

More Sales Start Now: Activate Razorpay OTP Assist

mWeb Users (Standard Checkout)

No Action Required: Razorpay OTP Assist is Now Active

We’re excited to announce that Razorpay OTP Assist is now seamlessly integrated and automatically active for mWeb standard checkout users. This means your customers can enjoy a frictionless checkout experience with automatic OTP read and submit functionality. This enhancement will boost your conversion rates by 10%.

mWeb Users (Magic Checkout)

No Action Required: Razorpay OTP Assist is Now Active

Similar to mWeb standard checkout, Razorpay OTP Assist is already live and active for Magic Checkout users. They’ll benefit from the automatic OTP read and submit feature, eliminating the need for manual entry and driving a 10% increase in your conversion rates.

mApp Users (Standard Checkout)

To enable OTP Assist, you’ll need to upgrade to the latest Razorpay Android SDK. If your current version is 1.6.33 or below, upgrading ensures you can leverage the auto-read and auto-submit functionality for a smoother checkout experience.

mApp Users (Custom Checkout)

To activate OTP Assist for mApp custom checkout, follow these steps:

1. Upgrade to the latest Razorpay Android SDK.
2. Once upgraded, click on this link and follow the steps in our comprehensive integration guide: https://razorpay.com/docs/payments/payment-gateway/android-integration/custom/otp-assist/

mApp Users (S2S)

To enable Razorpay OTP Assist for mApp S2S, follow these steps: 

1. Install the latest custom SDK.
2. Once done, click on this link and follow the steps in the integration document- https://razorpay.com/docs/payments/payment-gateway/s2s-integration/features/otp-assist/

Embrace a seamless checkout experience with Razorpay OTP Assist. Start simplifying payments today!

Documentation has always been an essential component of any technology platform. It serves as a reference guide for developers, businesses, and users, providing detailed information about products, integrations, APIs, and more. Traditional documentation, while informative, can often be cumbersome to navigate. Users are faced with lengthy manuals, complex technical jargon, and the tedious task of sifting through pages of information to find what they need. This outdated approach not only wastes valuable time but can also lead to frustration and confusion.

Docs AI: Your Personalised Razorpay Assistant

Docs AI is a groundbreaking chatbot powered by generative artificial intelligence, designed to streamline the documentation experience for Razorpay users. With Docs AI, you can say goodbye to the days of scrolling through endless pages of documentation. Instead, you can access the information you need quickly and effortlessly, all through a simple chat interface.

Key Features of Docs AI

Instant Access to Information: Say goodbye to digging through lengthy documents. Docs AI provides instant access to the information you need, right when you need it. Whether you’re a business owner looking to understand Razorpay’s products or a developer seeking API documentation, Docs AI has you covered.

Intelligent Assistance: Say goodbye to keyword searches and complex queries. Docs AI leverages advanced AI algorithms to understand user queries and provide accurate, relevant responses in real-time. Its natural language processing capabilities ensure seamless communication, making it feel like you’re chatting with a knowledgeable expert.

Comprehensive Coverage: From detailed descriptions of our products and services to step-by-step integration guides and API documentation, Docs AI offers comprehensive coverage of all things Razorpay. No matter what you’re looking for, you’ll find the information you need at your fingertips. 

Personalised Assistance: Docs AI adapts to your unique needs and preferences, providing personalised recommendations and insights tailored to your specific requirements. Whether you’re looking for a specific feature or exploring new possibilities, Docs AI is your trusted companion every step of the way.

Always Up-to-Date: Traditional documentation can quickly become outdated as products evolve and new features are introduced. Docs AI eliminates this problem by continuously updating its knowledge base in real-time, ensuring that you always have access to the latest information.

How Docs AI Works

Using Docs AI is as simple as having a conversation. You can access Docs AI on the Razorpay website and start chatting with Docs AI anytime, anywhere. Simply ask your question, and Docs AI will provide you with the information you need, instantly.

Get Started with Docs AI Today

Ready to experience the future of documentation? Docs AI is now available to all users, empowering you to navigate the world of Razorpay with ease and confidence. Say goodbye to outdated documentation and hello to Docs AI – your ultimate guide to Razorpay, simplified.

In today’s digital landscape, staying ahead of the curve is essential for success. With Docs AI, Razorpay continues to lead the way in innovation, redefining the documentation experience for businesses and developers alike. Say hello to a future where accessing information is effortless, intuitive, and hassle-free – thanks to Docs AI.