The “Hype” is Real in Luxury Mobility

Hype Luxury Mobility

Fast, flashy and chic luxury cars, among all the other machines, are a part of our genetic make-up, which makes them unavoidable. 

I mean, who wouldn’t love to drop a gear and disappear, right? Most of us would, but the option of renting a luxury car was only available to only a few. 

Dealing with unknown vendors, non-transparent pricing, safety issues, and poor customer experience was a perpetual problem, says Raghav Belavadi, CEO, Hype – Luxury Mobility.

Hype – Luxury Mobility was founded in 2017 to eradicate the above problems faced by people. The company offers self-drive luxury car rentals, chauffeur-driven and long-term rental services.

With over 2,800 luxury cars in 7 cities of India, Hype provides the most extensive fleet size with the broadest range of selection to premium customers.

As a tech company selecting a competent tech-driven partner was our primary focus.

Razorpay offered excellent technological innovation, price model, security to Hype’s high-value transactions and customer management. 

The multi-level payment process, updated Github code, and the ability to choose many functions like security deposit, wallet partners, EMI, and Pay Later immensely helped Hype’s customers. 

Later, the company piloted it’s high-value transactions on Razorpay for 30 days and observed 100% efficient systems and 0% downtime on their national and international transactions. 

Razorpay payment gateway

The integration was flawless and boosted our transaction speed by 40%, POD efficiency by 23% and reduced the pricing overhead by 72%.

Hype has grown over 6X in 2019 and expects to expand its operations in two more countries by 2022. The company aims to become the largest luxury mobility company on land, water and air globally. 

Q&A with Raghav Belavadi, CEO, Hype – Luxury Mobility

What was the idea behind your company’s inception? 

Hype was founded in 2017, Bengaluru to address the perpetual problem associated with luxury car rental. People who wanted luxury cars for specific occasions got tangled with various issues like renting from unknown vendors, non-transparent pricing and zero customer service.

Luxury cars have always been eye candy for people, but everybody cannot own a luxury car. Also, there was no option for luxury car rental or self-drive. 

 Tell us about Hype’s offerings. 

Hype offers car rentals in self-drive, chauffeur driven and long-term rental options. With over 2,800 luxury cars in seven cities of India, Hype provides the broadest range of selection to premium customers.

We have started a new luxury yacht rental service in Goa and plan to expand to other regions like Mumbai and Kerala. One hundred twenty thousand hours of rentals, 465 crores of assets driven, and zero incidences reflect the supreme technology-driven operations management of Hype.

Why did you choose Razorpay as your payment service provider?

We are a technology company at the core, and selecting a competent and tech-driven partner is always the focus of our operations. 

There’s a small story behind it, too. One fine day, Harshil Mathur, CEO and Co-founder, Razorpay rented a sports car from Hype. And as a happy customer, he talked to me about the advantages of partnering with Razorpay. 

The timing was right! Excellent technology innovation, price model, customer management and easy integration made Razorpay our natural selection. 

Power your payments with Razorpay Payment Gateway

Healthifying Your Fitness and Weight Loss Goals


From being primarily a services company that provided access to nutritionists and fitness trainers anywhere-anytime, HealthifyMe has evolved into a pure-play product company.

With over 10 million users and a consistent 4.6-star rating, India’s largest and most-loved health and wellness app, HealthifyMe has continued to grow beyond the Indian subcontinent.

HealthifyMe needed a payment solution that made two things happen – seamless user experience and the ability to experiment fast. As a universal app, HealthifyMe has already proven to be successful in Singapore and Malaysia.

As we spread our wings across more countries, we are sure that Razorpay is going to be an integral part of that journey as well.

How HealthifyMe uses Razorpay

Razorpay enabled a flawless integration, and the growth engine of HealthifyMe now extensively uses Razorpay as the only gateway. The web vertical is a significant space for HealthifyMe. 

We went back to the web because we have a lot of users who we cannot reach through our regular channels of marketing. Razorpay powers 100 percent of our web payments.


Razorpay as the payment gateway powers purchases directly from HealthifyMe’s Facebook and Google ads. The company has noticed a massive increase in conversion rates and has been able to iterate and experiment to learn and fail quickly. 

We are hoping that Razorpay will power over 30% of our revenue by March, next year. We are sure that this is one partnership that will last for a long time to come.

Q&A with Anjaan Bhojarajan, VP, Growth and Head of Product, HealthifyMe

HealthifyMe is one of the largest and most loved health and wellness apps in India. Could you tell us more about your product and business model? 

In terms of product lines, HealthifyMe is a premium app. The business model can be compared with Tinder and Linkedin, who have done well in the freemium model business. 

If you go premium, you get access to fitness trainers, workout plans and many more. This is our core business model. We don’t run Ads in our app.

Generally, people work with a nutrition and fitness trainer for 6-12 months. The business has grown, we have built credibility around it over the last five years, probably the only app in India or around the world that has scaled to this level. 

The free version of our app has calorie counting. With our workout-tracking, you can check your calorie burns, intake, weight and water consumption, which makes sure that you are hydrated enough. 

Tell us about your AI nutritionist Ria. Do premium subscribers get access to this classic coach model? 

Ria is our knowledgeable AI nutritionist and has been in existence for the last three years. As part of the coaching plan, Ria helps us with real-time analysis. The feedback from Ria keeps our premium subscribers on track and makes sure they are eating healthy and stay fit. 

Meanwhile, Ria learned from the behaviours of trainers and became powerful enough to launch its plans. Courtesy of Ria, our Smart Plan is an AI-powered offering. 

We have 10 million users across the world and about 1 million from South East Asia because we went local in Singapore and Malaysia last year. 

Why did you choose Razorpay as your payment service provider?

Razorpay has helped us build a whole new business line. The payment service provider powers 100 percent of our web payments. 

Razorpay has a great checkout mechanism, helped us educate users about our plans, and the new conversion ratio has been through the roof after the integration. 

Integration was flawless. You have the best inline checkout page. Business point of view Razorpay has done wonders for us. 

Power your payments with Razorpay Payment Gateway today.

Why Are Payment Gateway Settlements Not Instant?

Every business or enterprise expects its customer’s transaction to reflect in their account directly. But even today, in the era of digital-first platforms, these settlements are not instant. To give you more clarity on the payment gateway settlement process, let us show you what happens behind the scenes. 

Settlement process: A business’s perspective

Settlements is a process through which a business receives a certain amount paid by their end-users via online transactions for a particular product or service.

In this case, an individual pays via a payment gateway on the business’s website or app, and that amount is transferred to the business’s account by the payment gateway. 

Here’s what a typical settlement process looks like:

Step 1: The cardholder inputs their bank account or card details on the Razorpay checkout form to pay for a product or service 

Payment Checkout

Step 2: After successful authentication via OTP or 3D secure, the money is debited from the cardholder’s account, and the individual receives a confirmation notification for the same

Payment Checkout

Step 3: The transaction amount is routed via the card networks to Razorpay’s acquiring banking partners

Payment Checkout

Step 4: Once Razorpay receives the amount, it is settled to the seller’s bank account after the deduction of a specific fee

Payment Checkout

Why don’t payment gateways settle instantly? 

Payment settlements may look like a very straight-forward process, but they are not. The primary reason why settlements are not instant is that money movement at every step of the process is not immediate.

Also, the underlying complexities of reconciliation is an additional challenge that stands in the way of instant settlements. 

Well, reconciling transactions can be a nightmare for accountants, and here’s why:  

  • Every bank has or offers a different settlement cycle. Hence, the time-frame for the acquirers can vary. For example, Bank A may usually settle within a day, whereas Bank B may take two days to pay. Keeping track of these timelines and consolidating it all in a single sheet does take time
  • Bringing along a whole new level of complexity are refunds and chargebacks. In case of refunds, a customer expects them immediately. But refunding the money without reconciliation puts the business at risk
  • The business owner can end up paying back an amount that was never received. Also, it would be a disaster when the bank statements and reconciliation documents would fail to show a clear picture

When does Razorpay settle a business?

For every business on the Razorpay Payment Gateway, we define a settlement schedule–the time from the date of payment capture to when the business should receive the due amount.

As per the schedule established for the business, the settlement is created only for captured payments and refunds requested for the captured payments. 

Earlier, the complete process used to consume T+3 business days for domestic transactions (T being the date of payment capture).

Today we are glad to announce that customers can unlock faster settlements at no additional costs. Yes, the settlement cycle has been upgraded from T+3 to T+2 by default. 

Note: Razorpay doesn’t schedule settlements on weekends.

Here’s the Razorpay T+2 settlement chart:

Razorpay Settlements

Note: Maximum settlement time – four days

To settle this

Settlements usually depend on the multiple intermediary hops. In the case of cards, the acquiring bank, card network and issuing bank are involved.

In case of a payment method like UPI, along with the acquiring and issuing bank, NPCI also plays a role. This is why the amount of time taken to process the settlements also depends on the mode of payment used to make the transaction. 

The entire money movement process in online payments happens via nodal accounts. This means that payment gateways cannot earn interest from the money they hold or move on behalf of their customers.

At Razorpay, we are genuinely devoted to providing the best payment experience, not just for the businesses that work with us, but also for their end customers.

We truly believe that if online payments have to replace cash, then it has to provide the same ease of use, which is what we strive to achieve. 

To make settlements even smoother, and to help businesses manage their working capital requirements efficiently, we also provide 24x7x365 On-Demand Instant Settlements. Read about that here.

Click here to accept payments with Razorpay Payment Gateway.

Rang De – Uplifting Rural Entrepreneurs Across India

Rang De was started to address the huge unmet need for affordable credit for livelihood to overcome poverty. The inspiration for Rang De came from Muhammad Yunus and his contributions at the Grameen Bank. In its earlier avatar, Rang De has successfully reached out to 65,000 entrepreneurs and helped them build sustainable livelihoods.

“Our unique model leverages technology to connect social investors to rural unbanked entrepreneurs.”

Since their inception in 2008, they’ve been persistent in providing credit at affordable interest rates to credit-starved communities–early-stage or new entrepreneurs from low-income households.

Razorpay has helped Rang De in serving thousands of rural entrepreneurs across India with affordable credit by helping them raise social capital online from social investors. They have just relaunched Rang De as an NBFC-P2P. They are now regulated by RBI and are excited to be working with Razorpay in their new avatar.

“Rang De’s rural entrepreneur network is growing at 50% month on month and Razorpay has played a critical role in enabling this.”

Rang De uses a key Razorpay feature called Smart Collect (Virtual Payment Account) to receive repayments from their borrowers across India. Smart Collect makes their operations super efficient and also cost-effective.

Razorpay smartcollect

All of Rang De’s repayments from their borrowers are powered by Razorpay Smart Collect. 

They plan to serve 1 million low unbanked entrepreneurs with affordable credit across the country in the next 5 years, Razorpay’s Smart Collect is going to save them 100s of man-hours every month in doing this.

“Integrating our core product was quite easy with Razorpay. Two weeks off the block, and we were able to migrate most of our social investor’s credit balances from Rang De’s older platform into our new NBFC-P2P platform.”

That’s a lot of saved manual effort since all of their repayments now come through Razorpay and are reconciled in real-time. 

Rang De wanted a unified payment gateway for web and mobile, which passed the high-security standards mandated by RBI. With Razorpay, they got more than they asked for.

The story of Rang De

We asked, Ramakrishna NK, Co-founder and CEO of Rang De, to tell us more about the birth of Rang De and the way forward for it.

1. What are your company’s vision and goal?

By reaching out to underserved communities and offering them credit at affordable interest rates, our vision is to make poverty history in India.  

Started in 2008, Rang De is a pioneering peer-to-peer lending platform. Our mission is to reach out to early-stage, first-time entrepreneurs from low-income households and provide them access to venture debt at affordable interest rates. 

Our unique model leverages technology to connect social investors (lenders) to rural entrepreneurs, Rang De has been able to reach out to 65000 entrepreneurs with credit at really affordable interest rates and helped them build sustainable livelihoods and create jobs. 

Recently, we have transitioned into an NBFC P2P and are on a mission to provide credit to 10 million credit-starved entrepreneurs across India.

2. What was the idea behind the birth of Rang De? 

The idea behind Rang De emerged in 2006, the same year when Muhammad Yunus won the Nobel Peace Prize for his work in the field of microcredit. We felt that credit could be a powerful tool to help people fight poverty.

However, the interest rates that borrowers were being charged were exorbitant. We felt something had to be done about it. That’s how Rang De was born – to connect individuals who needed access to credit with Individuals who could lend small sums of money.

3. What is the problem(s) your company is solving?

Our idea was to leverage the power of the internet to connect individuals who want to make a difference sustainably, by creating sustainable livelihoods to thousands of individuals who are either denied or not offered credit. 

By tapping into the power of many, and decentralizing the source of funds, we have been able to significantly reduce interest rates on our loans to change the lives of potentially millions of credit-starved individuals across the country.

4. How do you see your company growing in the coming years?

We see credit as that financial opportunity that could help people overcome poverty. In the next five years, we would like to reach out to 10 million individuals across the country and provide them with access to need-based customized credit.

ZopRent: Finding the Zen in Self-rental Business

Zoprent payments

ZopRent strives to provide a complete holiday experience to its customers. ZopRent is an affordable, efficient solution for the first mile, last mile, short distance and long-distance commute to its customers. 

The company aims to standardize service levels and deliverables to the customers and provide a unique platform to give all a level playing ground when we talk of service & deliverables.

We are currently present across 25+ cities in India with more than 10000+ vehicles registered on the platform. Avinash Mohanty, Head of Sales & Marketing, ZopRent

How ZopRent uses Razorpay

To uphold their vision successfully, one of the essential things in consideration was, of course, a flawless payment experience. Because traditional banks were a no-go when it came to diverse payment options. 

We wanted to offer our customers a seamless booking experience and its not possible without an excellent payment gateway which provides a lot of payment modes without any hassles. Banks were offering the same but did not give the option to pay through other methods – Thus Razorpay. Avinash Mohanty, Head of Sales & Marketing, ZopRent

After the integration with Razorpay, ZopRent saw a significant jump in payment-related data like payment source options, day-wise breakups, settlements, charges. 

Zoprent saw a spike in sales, fewer cancellations/no-shows, organized payment schedules, zero cash mishandling at HUBs, round the clock payment collection, prompt refunds, smooth integration of other vendors APIs and many more. 

Q&A with Avinash Mohanty, Head of Sales & Marketing, ZopRent

What is the idea behind the birth of ZopRent?

When you talk about mass mobility, India is still at a nascent stage. Getting people to reap maximum experience at the tap of a button is the fuel that keeps us going. 

How do you see your company growing in the coming years? 

We are using a unique Hybrid (An amalgamation of B2B & B2C) model, which will help the company to grow in the coming years. We have just launched our operations in Thailand with close to 2000+ vehicles across various HUBs, and are currently growing at 300% Y-O-Y and aim to expand to other geographies soon.

Why did you choose Razorpay? 

Excellent customer support, of course! 

The team that managed our queries were prompt and well versed with the product. This piqued the interest in Razorpay while constant vendor engagement and innovation have helped us to continue with them. ZopRent shares its passion with the world using Razorpay. 

We’re growing now, faster than ever, and we’re glad to have Razorpay on our side, taking care of our payments for us. The rest, as they say, is history. Avinash Mohanty, Head of Sales & Marketing, ZopRent

Explore Razorpay Payment Gateway for Your Business

Manage Working Capital Efficiently with 100% Visibility in Settlements


Working capital is more than just a financial metric. It is the fuel that allows companies to run their day-to-day business operations. Its management, or mismanagement, can have a very direct impact on a company’s financial health and operational success.

For businesses that accept payments online, working capital is a function of incoming settlements from their partner payment gateways. As a result, a lack of visibility in settlement timelines can end up creating a plethora of  challenges for companies. Some of these include:

  1. Lack of clarity around settlement timelines: Wondering when their payments will get processed can keep businesses worried and make it difficult for them to manage working capital efficiently
  2. Expected settlement amount: Knowing how much they are going to be paid is a crucial piece of information for companies to plan their day-to-day operations
  3. Settlement status on the transaction page: It is important for businesses to know which transactions have already been paid for and which are still pending
  4. International payments: Answers to questions regarding the settlement cycle of their international payments and service fees on the same are crucial for businesses
  5. Route settlements: Companies organized in a parent/child network or partner network should not find it very difficult to keep a track of how much each entity will be paid and by when

Settlement UX changes

To equip our merchants with the armor to handle these challenges, we’ve made the following UI/UX enhancements on the Razorpay dashboard:

Transparency on upcoming settlements 

  • The amount and date for your next settlement will now be visible on your Home page, Transactions page & Settlements page
  • This is the go-to metric for businesses of any size to quickly assess when their next settlement will happen and how much will they be paid

Settlement cycle in the ‘My Account’ section

  • New to Razorpay and want to check what your default settlement schedule is? This information is readily available on the dashboard. No need to reach out to the support team
  • Want to start accepting international payments? Check your international settlement schedule through your dashboard to better manage your cash flow


Settlement status for each and every transaction

  • No more confusion on which transaction you have received payment for and which is still pending
  • This feature also provides visibility on service fees paid to Razorpay

The above changes will significantly enhance visibility on settlements and provide our merchants with the information they need to efficiently manage their working capital. 

An essential quality of a payments solution is the ability to scale to meet the growing demands for our customers. Transparency in settlements is another endeavour by us to give you the best payments infrastructure.

Are you ready to simplify the way you accept online payments? Sign up on Razorpay if you haven’t and leave all your payment worries to us!

How to Make Your Payouts More Efficient

Automated Payout

A payout is the transfer of funds from your business account to a contact’s fund account. You need to have sufficient balance in your business account to process a payout. The various methods available for a payout are IMPS, NEFT, RTGS and UPI

Are those payouts instantaneous?

Although IMPS and UPI payouts are near-instant, the other modes work only during banking hours. But we live in a world of ‘We want it now’, where sometimes the cooker explodes and everybody feels the heat. For instance, let’s say you had a significant business transaction to make, and you realise that the bank working hours are over. What do you do? Apart from the banking hours, there are other limitations like: 

  1. Limitation on bulk transfer (IMPS and UPI)
  2. Cooling period on adding beneficiaries 
  3. One cannot verify bank account before transferring 
  4. Complex infra systems 

There it goes, your ship is under attack. So what do you do?


Whether you are making a one-off payment or processing a batch of hundred, move money seamlessly with RazorpayX, a platform to accelerate disruptors by making their financial operations intelligent, automated, and business-focused. Regardless of who you are, SME or enterprise, new age or incumbents.  For every payout, you need to specify the amount, the contact and the purpose of the payout. The payout amount and the payout charges are deducted from your business account balance every time a payout is made. These appear as a debit against the business account on the successful creation of a payout. In case a payout fails at any stage of its processing, a reversal is created, which results in a credit to your business account. Payout process

A diagrammatic overview of the payouts process in RazorpayX

By integrating with our flexible APIs and dashboard tools, customers can: 

  1. Accept and manage payouts via NEFT, RTGS, IMPS, UPI and more
  2. Upload contacts in bulk and share payouts in one go
  3. Track, automate and accelerate money movements for informed and impactful business decisions 

For example, Medlife, one of India’s fastest growing healthcare firm, wanted a solution to settle their million+ customers’ payouts from their closed wallets to bank accounts. RazorpayX helped Medlife offer a one-click payout to the customer’s bank account without requiring any human intervention. Results: 

  1. Instant payouts from customer wallets
  2. Increased flexibility on the usage of wallet
  3. A new stream of revenue via wallet linked loyalty offers

Secure, fast and cost-effective payouts are very critical to enhance customer experience, and one of the key element to increase business success.  So, what does efficiency mean for you? 

What are Automated Payouts and How Are They Helping SMEs?

“We regret the inconvenience. We are trying to clear the process from our end. You can expect the transactions to be cleared by tomorrow.”  “We haven’t received your invoice. Your cheque is in the post. The person who authorises your payment is not in the office today.“

If you are familiar with the above excuses, you should also know that they come with consequences. Unexpected delays in payments can hurt businesses that have little or no cash reserves or credit to rely on. Especially in a traditional small business, every individual wears many hats and deals with myriads of stakeholders. He or she strives to manage relationships while maintaining a high level of efficiency. And, it becomes very difficult if a business sticks to a manual process for paying vendors, customers, suppliers, etc. 

Here’s how the end-to-end payment process for most organizations (SMEs) looks

A user logs in to the respective banking platform and enters transaction details for every payment done. Now, to authenticate each transaction detail and ensure everything is in order, you require another hand to oversee the security process. Piece of cake, isn’t it? 

It’s all pink skies and blue unicorns when you are getting started–manually inputting and routing every single payment sounds feasible. But what will you do when the scale and the sheer volume of transactions grows? Automate your financial ecosystem.

How can SMEs benefit from automated payouts?

For example, a small scale business uses cheques as a form of payment. Here we go again, it’s paper! And the risks of cheques getting lost in the mail is equivalent to an extended waiting period known as “We’ll get back to you soon.” 

It isn’t always the form of payment, blame the process of tracking payments too. Companies can lose money and damage relationships with vendors by missing deadlines, or even issuing a refund to the wrong person. It’s tough to track them if you are on your own and rely on traditional payment systems. 

Traditional banking systems are often difficult to operate, due to clunky, outdated systems and technology. Most banks grapple with legacy infrastructure and are unable to deliver products and services with ease and agility.

Customers using banking solutions are often faced with a range of problems like:

  1. Lengthy approval processes
  2. Heavy UI, complicated user flows
  3. Outdated systems that are not integration-friendly
  4. Poor customer tech support for queries

An automated payout system can help you avoid late payments, issue instant refunds to your customers, and help pay your vendors. Most importantly, the CRM serves as an eagle eye (control and visibility) for your financial operations.


For businesses small or large, new age or incumbents, we offer you RazorpayX–a platform to accelerate disruptors by making their financial operations intelligent, automated and business focussed. 

By integrating with our flexible APIs and dashboard tools, customers can

  1. Accept and manage payouts via NEFT, RTGS, IMPS, UPI and more
  2. Upload contacts in bulk and share payouts in one go
  3. Track and analyze money movements for informed and impactful business decisions

Traditional Business Banking Vs RazorpayX

                Traditional Business Banking                              RazorpayX
Countless hours of manual effortsBetter customer experience with instant payouts  
Glitchy software and complex infra systemsControl, track and analyze all types of money movements from a single dashboard
Complex and non-flexible money movement viewsManage and track money movements from vendors, customers, and more
No insights on payouts Off-the-shelf analysis of payouts made


Automation is the need of the hour for India’s large SME sector. With the right technology, business owners can focus more on customers, and let the technology take care of processes. It eliminates drudgery, avoids the troublesome situations. The result, efficiency becomes the epitome of your business. 

Ready to Start Accepting Payments Online?

  • Quick Onboarding
  • Saved Card Database
  • Razorpay Checkout
  • 24×7 Support

Subscription Economy: Business Impact of Rapidly Changing Consumer Needs

Technology has summoned a change that has enabled people to decide what, how and when they want a specific service or product. And, also dictate how they want to consume and pay for it.  

With the advent of intelligent customers, hard-selling has become a thing of the past. From Xennials to Millennials, everybody loves the flexibility, convenience and personalisation that technology has to offer.

Today, customers prefer access without ownership, flexible, just-in-time consumption of products and services are preferred over heavy, long-term investment models. One size fits all’ is no more a mantra that works for customers. Unique, personalised offerings are what works, where every customer is empowered to tailor his/her own experience. 

These factors have led customers to lean towards new consumption models like Subscriptions instead of traditional purchase models. 

All about subscriptions

Subscriptions is a business model where the customer decides to consume goods or services on a periodical basis and not as a one-time event. The payment for subscription plans is also made regularly. Subscriptions plans are tailor-made to meet customers consumption preferences. 

Primarily, there are three forms of subscription models: 

  • Access-based: Follows a periodical fee (monthly, quarterly, yearly) to obtain access to products or services based on individual needs 
  • Curation-based: These consist of curated or personalised items, meant to help customers discover and sample products. Curated products are sold as ‘subscriptions boxes’, and popular categories include beauty, fashion, food, and learning
  • Replenishment-based: A model that allows customers to automate their consumption of everyday consumables, like razors, milk, etc

Surprisingly, the history of subscriptions dates back to the1800s, where newspapers and magazines made their sales through subscriptions. Since then, subscriptions through its unique distribution model has paved the way for innovation across diverse industries.

Learn how to start your subscription business.

Subscriptions economy in India

It took a while for the subscription model to gain a foothold in India. But the success of brands like Amazon Prime and Hotstar has proven that there is a massive market for subscription businesses in the country.

With the internet, online commerce and digital payments, the subscription business model in India is now moving online. The earliest player to leverage online subscriptions in India were media and publication businesses. 

Driven by engaging content and a convenient way to consume, Indians took to OTTs (over-the-top media services) like Netflix, Amazon Prime and Hotstar. According to Pixights, Indians on average spend Rs 295 per month on an OTT platform. Also, about 62% of Indians have subscribed to three or more such platforms. 

Download the full report here.

What is driving subscriptions upheaval in India?

India is in the midst of an e-commerce boom. Over 40% (about 472 million users) of the country’s population is internet-enabled, making India the world’s second-largest user base. This massive internet penetration has put the Indian e-commerce market on an upward growth trajectory. From $38.5 billion in 2017, the market is projected to grow to $200 billion in 2020, surpassing the US to become the second-largest e-commerce market in the world.


Today’s Indian consumer is time-constrained, but resourceful, hence leaning towards quick, convenient and hassle-free shopping and payment experiences. Customer convenience is no more about having a plethora of options; it’s all about getting relevant, curated products and services at the right time and place. This is what subscription businesses fulfil. 

Also read: Payment Method for Generation Now: Cardless EMI

Payment Method for Generation Now: Cardless EMI

cardless emi razorpay

I remember, a couple of years ago, I was window shopping online and came across a limited edition Sega Gamer Boxset. It had everything–a funky console, stickers for laptops, rare collectable items and a limited edition badge to prove my rank amongst my fellow gamers. 

My euphoria, though, was short-lived, till I discovered the price tag. It asked for an arm and a leg. 

The only EMI option available on the product at that time was on credit cards. Unfortunately, I didn’t have a credit card and there were no other options for me to make the console mine.

It wasn’t possible at that time, but today, a business can provide its customers like me with the option to make EMI purchases even if they don’t own a credit or debit card. This is what we call Cardless EMI.

What is Cardless EMI?

Cardless EMI is a checkout payment method that allows customers to convert their payment amount to EMIs. The user doesn’t require a debit or credit card. The payments are made via credits approved by the supported Cardless EMI payment partner. 

To improve online payment flexibility, the Cardless EMI option is available on Razorpay Checkout with custom UI integration methods for web, mobile web and mobile (Android and iOS) platforms.

Cardless EMI is a new form of payment method for consumers of Razorpay merchants where users can complete the payment via approved credits from various EMI payment partners like ZestMoney, EarlySalary and InstaCred.

Customer journey using Cardless EMI

Since this is an alternate payment method to credit/debit card, netbanking, wallets and UPI, the end consumer will be given an option to choose Cardless EMI as a payment option during checkout. 

However, it is vital that a customer is registered with one of the preferred Cardless EMI payment partners, and must have an approved credit limit from the partner.

Here’s how the payment flow works on Razorpay checkout:

Step 1: Enter the required details on the checkout form and select EMI

cardless emi razorpay

Step 2: Select your cardless EMI service provider

cardless emi razorpay

Step 3: Authorise account via the OTP sent to your registered phone number

cardless emi razorpay

Step 4: Select an EMI plan to complete the transaction

cardless emi razorpay

After the payment is completed, the user is redirected to the merchant screen, and Razorpay settles the amount to the merchant in bulk.

Finally, the EMI is deducted on a monthly basis as per the plan selected by the end customer, and the details are shared via email and SMS. 

Cardless EMI – Integration

If you are using Razorpay Checkout, there is no need for any separate integration or change to the existing integration.

But if you are integrating using the Custom UI SDK, after the customer selects the EMI payment method (step 2 – shown above), they are redirected to a Razorpay hosted page where they enter the OTP they received on their registered phone number and proceed to select the desired EMI plan.

Here’s the flow on Razorpay Custom UI/S2S Integration: 

cardless emi razorpay

Benefits of using Cardless EMI

Businesses End Customers
Increases buying capacity for end customers  Flexible EMIs to suit specific consumers 
Reach 5 million+ consumers across India No credit/debit card or credit score required
A success rate of 93% for approved customers Quick loan approval for online shopping
Frictionless payment  Credit limit increases as per transaction history
No restriction on product categories  Instant approval and easy account opening
Increase in average order value No upfront prepayment penalties 

Well, here it is, the dream payment method, which defies every new solution that has emerged to maximise your customer’s shopping experience. And improve your business metrics to boot. 

Also read: 7 Reasons Why Razorpay is Right for You