The Types of Payouts and How Businesses Can Simplify Them

Razorpayx payouts

A structured financial management system is the pillar of any well-heeled business strategy. As much as a business would like to focus on great cash inflow, making payouts is also an equally crucial task.

And, leveraging out-of-the-box technology to streamline the process is what every business should do.

Let’s take a step back.

What is a payout?

A payout is a taxable payment made by a business to its stakeholders from the company’s current or retained earnings. In traditional business banking, the methods using which a company can process payouts are IMPS, NEFT, RTGS, and UPI.

What are the different types of payouts?

types of razorpayx payouts

Vendor payouts –  payments made by a business to a vendor (supplier) for the goods or services provided

Partner payouts – a business pays a commission to another business or a contractor for cross-selling products or services

Employee payouts – a business pays its employees for their services

Customer payouts – Cashback, rewards, and refunds made by a business to its customers

Common problems with payouts

Have you ever had to make a crucial payment to your vendor or customer, but you couldn’t process it because of fixed banking hours? Delayed payouts often lead to interrupted service. Not to mention, they’re just embarrassing.

But it can happen more often than not for many reasons.

  • You can only process payouts via NEFT and RTGS, and only within banking hours
  • Uploading contacts in bulk to make a bulk payout is very complicated because of complex file formats
  • There’s a hold-up upon adding a contact for a payout
  • You can’t verify the validity of a bank account before making a payout
  • Limitations on bulk payouts when made via UPI and IMPS
  • A low cap on TPS
  • No easy way to track and identify errors because of complicated and vague error codes
  • Reconciliation can be very difficult in the case of refunds and failed transactions

So, how can this process be made simple so that businesses don’t have to go through these setbacks? 

Let’s introduce to you, RazorpayX Payouts

razorpayx payouts

Imagine solving your payouts problem in just a matter of minutes, and further simplify all of your business banking operations! That’s exactly what RazorpayX Payouts can do for your business.

Whether you’re making a bulk payout or just a one-off, RazorpayX helps you move money seamlessly, without you having to worry about banking hours. RazorpayX Payouts is that one single platform that automates your business banking operations to such an extent that you don’t have to worry about making any manual effort.

How does RazorpayX simplify your payouts process?

  • Make payouts, disbursals, and refunds via UPI, IMPS, RTGS, and NEFT, at any time of the day, instantly
  • No hold-up upon adding a contact; transact immediately
  • Upload any number of contacts in one go, without dealing with confusing file formats
  • Create payouts in bulk via APIs or directly from the dashboard
  • Offer 24*7 instant refunds to your customers and vendors etc., without any manual intervention
  • Add multiple team members with access control and secure payments with 2-factor authentication
  • With intelligent error code mapping, identify errors without any trouble
  • Reconcile refunds and failed payments in ease
  • Track, automate, and accelerate money movements and make impactful business decisions

How to make a payout via RazorpayX?

You can make payouts on RazorpayX in five simple steps.

  1. Signup and activate RazorpayX account
  2. Add funds to your business account
  3. Create contact
  4. Add fund account to the contact
  5. Create payout

What kinds of payouts can RazorpayX handle?

Bulk payouts You can make your payouts in bulk, all at once. Simply upload all your contacts, sit back, and relax. RazorpayX will take care of all your outflow.

Payouts queue – If you need to make a payout and your account is low on funds, RazorpayX will queue your payouts that go over balance, and process your payouts when you add funds to your account.

Scheduled payouts (coming soon) We’re working on helping you schedule your payouts well in advance, so you don’t ever have to worry about delayed payouts.

Payouts, simplified!

Like we said before, making payouts are as important as cash inflow. Never worry about delinquent or delayed payouts ever again! Make fast, effective payouts to your customers, vendors, employees, and partners, and track all forms of money movement with RazorpayX.

What You Need to Know About Banking as a Service (BaaS)

banking as a service BaaS

Banking as a Service (BaaS) is yet another fintech innovation that is enabling bank and fintech collaborations. The tickler is, many of these innovations are confused for another.

We’re here today to clarify what Banking as a Service is and what it isn’t.

The banking sector has gone through somewhat of a metamorphosis in the last few years. With fintech players entering the market, this transformation has become unstoppable. Financial services are changing in a way that they’re creating new products, channels, partnerships, and opportunities. Banking as a Service plays a significant role here, at the core of it all.

What is Banking as a Service?

BaaS is an end-to-end approach that facilitates fintech companies and other third party organisations to connect with a bank’s system employing APIs.  This helps organisations build innovative financial services upon the provider bank’s regulated infrastructure while enabling open banking services. Banking as a service BaaS

How is Banking as a Service different from traditional banking?

To understand this, let’s break down the functions of a bank – holding money, remittance, and payment processing. For banks to support these functionalities, they need to put in a ton of investment and constitute the necessary infrastructure. 

The processes, along with the complex infrastructure, end up creating gridlocks. And these gridlocks are what have created an immense thought and application for fintech companies and non-bank organisations towards building financial services — partnering with banks instead of building these financial services from the ground up.

How does Banking as a Service work?

Banking as a Service allows third party organisations to draw off of the existing banking services through APIs that communicate between banks and third parties. These APIs allow the use of these banking services by fintech companies, programmers and developers, and other non-financial companies.

This allows them to build their own features as a layer on top of the existing banking services.  In simple words,

  1. Fintech company/individual pays to use BaaS
  2. Bank/financial institution which is a BaaS platform opens its APIs 
  3. Fintech company/individual builds innovative financial services using these APIs

Banking as a service BaaS

[ Also read: The New Age Ways of Business Banking ]

What are the factors influencing BaaS?

While fintech is growing and revolutionising the way financial services work today, there are a few key aspects that have led to the emergence of BaaS.

  • Banks are trying to catch up to the speed of fintech companies. Or, banks are partnering with fintech companies to innovate financial services
  • Startups and SMEs are starting to leverage easier and effective business banking
  • The digital transformation and mobile-first approach that has soared over the recent years has played a phenomenal role in influencing BaaS
  • Business architecture of banking is evolving to a much more modern system that is inclusive of newer tech and methodologies
  • Banking regulations have seen an evolution that has further promoted a healthy growth of industrialisation

How do businesses benefit from BaaS?

  • BaaS helps creates new sources of revenue for businesses by enabling cross-selling capabilities because of API driven facilities
  • With BaaS, businesses can compartmentalize business logic and data, and reduce time to build and ship apps
  • Businesses innovate much more by means of capitalizing on APIs of their own, along with third parties
  • Building products and services using API ecosystems can drastically increase Customer base

Banking as a Service vs open banking

The BaaS model is often confused with open banking since both models involve the use of APIs to communicate among banks and fintech companies. But in reality, both models serve completely different objectives. 

Banking as a Service: Businesses integrate complete banking services into their products

Open Banking: Businesses use only data for their products

Industry impact of Banking as a Service

BaaS has created quite a trend in the fintech industry. Many countries around the world have seen a rise in the latest fintech buzzword – neobanks. 

[ Suggested reading: What is a Neobank? Everything You Should Know ]

Neobanks help businesses manage their entire financial operations by providing more transparency and options, along with real-time capabilities. RazorpayX has enabled businesses like Cure.fit, MPL, Dunzo, and more, to make payouts at scale while keeping the costs low.

RazorpayX Current Accounts takes business banking further by including all standard banking services like debit cards, accounting statements, cheque books, and more.   

Many neobanks and challenger banks looking for an alternate source of revenue have also opened their doors for other non-financial companies to use their APIs. 

More than just creating a source of revenue, BaaS has also enabled legacy banks to grow a relationship with emergent as well as fintech giants. This further helps legacy banks to catch up to what some of the fintech companies are doing. 

Xperience the future of banking

Understanding the New Age Ways of Business Banking

business banking

Banking is the most fundamental form of managing finances. Whether your use is personal or official, you rely on banking and its services. And, if you have a business of your own, you definitely know the importance of business banking. Today, we’ll take a look at business banking and understand the new age forms of using these services. 

What is business banking?

Business banking is the process of a third party managing your company’s finances by providing loans, credit, savings, and current accounts that are especially designed for businesses instead of individuals.

Business banking helps keep your funds safe while providing you with a clear view of your business’s financial health. You also get additional perks that you won’t receive with a personal account.

Methods of business banking

Business banking can be carried out in a few ways.

A physical branch – This is the traditional way of business banking where are your transactions will be processed at a branch.

Online banking – This method of banking has become increasingly popular because of the ease it provides to the customers.

In online banking, neobanking and open banking have opened up a whole new avenue of services that primarily focus on experience while providing your business with the best possible solutions for money management. Let’s take a closer look.

What is neobanking?

It is a type of digital bank that does not have any physical branches. Unlike a traditional bank that has a branch at a specific physical location, a neobank is entirely digital and online.

Think of a neobank as a cluster of financial service providers who cater to today’s tech-savvy consumers. Without a license of its own, a neobank leans on bank partners to provide bank licensed services to its customers. 

How does neobank help with business banking?

Often, businesses have to deal with tedious, never-ending processes that involve disbursals and payments. These processes result in hours and hours of manual efforts due to buggy software, complex infra systems, and many other reasons. This complexity may further grow into fiddly money movement views. 

Business banking via neobanks helps solve all these problems.

  • Account creation is a breeze since neobanks are completely online; they don’t have a storefront. All it takes are a few minutes and a couple of simple steps on a smartphone
  • With friendly UI, you can provide the best user experience to your customers
  • Business banking with neobanks helps take your business to any part of the world
  • Neo-apps help manage your finances by providing you with an overview of your expenses and a savings goal that matches your needs
  • You can save 10x time because of reduced manual effort and instant payouts
  • Make, track, control, and analyse all forms of money movement, all from a unified platform
  • You can also track and manage money movement to vendors, customers, employees, and more, with the in-depth Financial CRM 
  • Use APIs that are easy to deploy and integrate banking into payments and accounting infrastructure
  • Make informed, impactful business decisions with off-the-shelf analysis on payouts mode 

Neobanks also provide current accounts since they support higher volumes of transactions. 

Read more: Everything You Should Know About Neobanking

What is open banking?

Open banking involves sharing financial information digitally and securely, with customers’ approval. The use of APIs enables third-party developers to build services and applications around a financial institution. This drives speed while keeping costs low when compared to traditional systems. 

A combination of rich bank data and disruptive fintech results in financial products that provide both businesses and customers with the best of both worlds.

How can you improve your business banking with open banks?

The utilisation of APIs by banks has become very progressive all around the world, and for good reasons. With API banking, innovators have more flexibility to provide the best features and services to streamline financial services, thereby creating a surge of competition and innovation in fintech products.

Use cases for API banking

The most common use-case for API banking is payouts.

Lending: In the last year, the consumer lending industry saw a meteoric rise. And, with increased competition, the speed at which loads are processed became a top priority.

Today, RazorpayX has helped many lending companies reduce the average time to process a loan from 3 hours to 30 seconds.  

Gaming: Gaming is an industry in which instant gratification reigns supreme – winners want to claim their prize instantly. 40% of the real-money gaming industry in India uses RazorpayX to disburse winnings to their users.

Open banking provides solutions for all your business banking needs.

  • Have more transparency, knowledge, and options when it comes to managing your finances, and find a tailored solution that fits your business case 
  • With real-time capabilities, get enhanced visibility of cash flow, cash position, and more, across currencies
  • Reduce administrative hurdles with regard to managing your finances like applying for a business loan, checking your creditworthiness, and more
  • Be in control of your data as you decide how to use it or who gets to access it
  • Set targets on savings and expenditure, ration your finances logically while being able to account for each and every financial activity
  • Have a single view of all your finances while being able to control, track, and analyse all financial movements, all in one place

RazorpayX – business banking experience like never before

With RazorpayX, businesses can manage their entire financial operations and make timely payouts using our sleek dashboard or robust API.  Businesses like CureFit, MPL, Dunzo, and others use RazorpayX to make payouts at scale via API while keeping costs low.

This also helps them ensure their customers and partners are happy. RazorpayX Current Accounts takes business banking further by including all standard banking services like debit cards, accounting statements, cheque books, and more.

Conclusion

Surely, you’d want to manage your business’s money better, with more control and efficiency. Neobanking and open banking can help streamline and automate your business banking at scale.

The Fingerhold of Recurring Payments in India

Lately, India has seen an unparalleled expansion of online businesses. With the online commerce industry penetrating the Indian market by 74%, close to 329.1 million people are projected to buy goods and services via online stores by 2020. While consumers have a mountain of options to choose from, the need for more innovative consumption models also arise.

Why?

  • Convenience dictates consumer behavior. The ease of simply tapping a button to buy anything from anywhere, at anytime, is simply not beatable
  • Consumers prefer “accessing” something over “owning” it
  • Each consumer wants unique and personalised offerings, where they can tailor their experience
  • Consumers demand flexibility, not only “what” to consume, but also “how”

This has led us to where we are now with recurring payments.

The recurring payments model has a far reaching impact. It creates opportunities for product differentiation, taps consumer segments, and improves customer loyalty. And so, it’s no surprise that its growth is catapulting.

subscriptions data india razorpay recurring payments

Based on recurring payments on the Razorpay platform, here are a few highlights.

subscriptions data india razorpay recurring payments

Earlier in FY18-19, recurring payments began to gain popularity. Based on transactions on the Razorpay platform, there was a 78% growth in Q1 as many businesses got onto the bandwagon. What started out with standing instructions on credit cards soon got extended to debit cards, and in some cases, to netbanking as well. Physical NACH got transformed to eNACH.

All of this led to recurring payments receiving an even better response in FY18-19 growing by 96% in the second quarter of that year. By FY19-20, recurring payments have gained strong ground in India. Although Q1 and Q2 seem to show a smaller growth percentage, the growth is still significant because by then, most businesses were already using a recurring payments model.

Now, we anticipate recurring payments to sprout on all cards and UPI as well, which will further fuel the growth of this mode of payment.

“India is a key part of our international subscription growth.”

– Reed Hastings, CEO, Netflix

subscriptions data india razorpay recurring payments

Government initiatives have also been helping businesses move to the recurring payments model.

RBI opens up recurring payments on cards – A step ahead for digital payments

In September 2019, RBI turned out with a circular to engender the utilization of cards in making recurring payments. The circular says that starting September, buyers will have the option to utilize their cards to make recurring payments to businesses through e-mandate.

The e-mandate and additional factor of authentication (AFA) should be done just once at the hour of the principal transaction. All transactions taking place, later on, will be completed consequently without the prerequisite of rehashed AFA.

RBI has set a cap of ₹2,000 for such transactions and notified that they will be permitted on debit and credit cards, and prepaid payment instruments (PPI) including wallets.

This will empower consumers, just as traders, to significantly profit by getting rid of the issue of authenticating transactions on numerous occasions.

The RBI circular likewise specifies that consumers will be given the aid to set recurring payments for a predefined fixed value or a variable value. To guarantee that the cardholder is protected, they will have the option to determine the maximum transaction value as well.

Further, to defend the interests of the consumers, RBI said that they will get a notification through SMS or email a day prior to when the recurring transaction is to be completed. This notification, carrying details regarding the amount, date and purpose behind the transaction, will enable cardholders to drop the exchange, on the off chance they wish to do so. Obviously, the cardholder can pull back the e-mandate anytime too.

This facility will go far in further advancing digital transactions in the nation. All the more so, consumers won’t be required to pay any additional charges for setting an e-mandate for recurring payments through their cards.

eMandate for netbanking and debit cards

In April 2019, NPCI received final approval by RBI for the full-fledged implementation of eMandate for netbanking and debit cards. NPCI informed all the banks to take immediate steps and implement both eMandate variants within June. While the limit for each eMandate is set at Rs 1 lakh, the organisation is to review the limit.

This facility will allow businesses to greatly improve the customer experience while solving collection-related problems at the same time since eMandate will allow them to take a one-time consent from the customer to debit them subsequently.

UPI 2.0 with overdraft facility

The launch of UPI 2.0 in August 2018 was expected to bring many benefits to the payments landscape. In addition to current and savings accounts, consumers could have also linked their overdraft account with UPI to instantly make their transactions while the benefits of an overdraft account are retained. While the launch has not happened yet, it will be a gamechanger for recurring payments, given the immense popularity garnered by UPI in recent times.

What’s in store for recurring payments

“We believe that the recurring payments model will benefit not only customers, but businesses as well. With rapidly evolving consumer needs, this model will be a game changer for the Indian economy. Benefits like reduced transaction costs, convenience of upgrading or downgrading and reduced amounts of waste from unused assets will drive the adoption of recurring payments.”

– Harshil Mathur, CEO, Razorpay

Razorpay offers a full range of payment solutions for Recurring payments which include – recurring on cards, on bank account via eMandate or eNACH and Physical Mandate.

Interesting use cases for recurring payments on the Razorpay platform

 

recurring payments subscriptions trend data razorpay

Explore Razorpay Subscriptions.

Build Your Own Online Store with Razorpay Payment Pages

razorpay payment pages build your own online store

Today, most Indian consumers rely on online stores to make their purchases. With online commerce penetrating the Indian market by 74%, close to 329.1 million people are projected to buy goods and services via online stores by 2020.

With that being said, we can all agree with the fact that there’s a massive rise in online stores in the e-commerce industry today. But, we simply cannot put aside the problems these stores face. Amongst choosing the right niche and profitability, most small online businesses face trouble with infrastructure. 

From building a solid, functional website, hosting it, all the way to integrating the right payment gateway, online businesses fall back on these basics that can really help them click. 

It’s also difficult to understand complex documentation with off-the-shelf e-commerce plugins or to find alternate solutions as they can be very pricey and time-consuming.

If you run an online business trying to set up your online store, or if you’re a freelancer trying to build your website so you can sell your products and services, then you know what we’re talking about. 

So, how do we make this process effortless? 

Razorpay Payment Pages – collecting online payments just got easier!

No need to build your website and host it. No need for a payment gateway integration.

Payment Pages is specifically designed to accept payments from your customers, even if you don’t have a website. You can easily create a storefront for your online store in less than 5 minutes and start accepting payments from your customers from all over the world, in 100 international currencies. And, this requires absolutely no coding experience or support.

Razorpay Payment Pages build your own online business

In just about six months, Payment Pages took off and skyrocketed, enabling payments for numerous small and medium-sized (SME) businesses. The response we received was truly overwhelming. While being so, our customers also made multiple requests for a small tweak here and there so that Payment Pages would be an absolute match for their business use-case. 

  • In just about two months, more than 5000 businesses started using Payment Pages
  • By the end of 6 months, we saw a 114% uptick, powering over 11,000 online businesses
  • 89% of businesses said it significantly brought down their tech efforts
  • 63% of freelancers said accepting payments became much easier
  • 84% of businesses without a website said Payment Pages helped them retain their brand image
  • 93% of businesses also said their customers had a seamless payment experience 

At Razorpay, we believe we can empower businesses to meet their fullest potential. While Payment Pages was already contributing towards our belief, we knew we could help these online businesses so much more.

Although the use-cases are different from one business to another, we tried accommodating as many requests as we could.  

What’s new with the updated Payment Pages?

With the update, Payment Pages is now much more functional than ever! The new power-packed features enable your online store to collect payments seamlessly, while you focus on providing your customers with brilliant user experience.

Multiple listings

List any number of products/services you wish to sell on your Payment Page, along with images and descriptions for each one of the items you list.

Smarter purchase controls

Have control over the minimum or a maximum number of products your customers can buy, set a minimum amount your customers can donate, and more.

Razorpay payment pages

Reordering input fields

Move the input fields/items on your Payment Page to arrange newer items or frequently purchased items higher by simply dragging them up or down in your list of items.

New input fields

Select from the many input fields supported by Payment Pages to capture customer data. From alphanumeric input fields and email address to PAN number and PIN code, select the right input field to ensure proper validation. 

build your pwn online store with Razorpay payment pages

Intuitive reporting

Get detailed insights for each item sold, based on real-time transactions from the dashboard to help you make better business decisions.

razorpay payment pages

Dynamic mobile experience 

Provide your customers with a dynamic, on the go mobile payments experience while giving them the option of choosing from many payment modes.

build your online store with Razorpay Payment Pages

Embeddable Payment Request button

If you already have a website but no Payment Gateway integration, simply embed the Payment Pages CTA button where you want to call for action. On click, your customer will be taken to the respective Payment Page.

Redirecting your customer

While you can customize the text on the CTA, you can also redirect your customer to your merchant page. Or, you can simply show a custom message to let them know the payment was successful.

How to build your Payment Page

Step 1: Login to your Razorpay Dashboard and navigate to “Payment Pages”

Step 2: Click on “+ Create Payment Page

Step 3: Choose your template from the ones that are already available, or create your own

Step 4: Fill in the details of your product/service/event and add pictures and videos of the same

Step 5: Click on “Add social media share icons” to enable social sharing

Step 6: In the “Payment Details” section, add the required input fields, product, and images, and customize them. You can also reorder the fields by dragging them wherever you need

Step 7: Click on “Save and publish

Share your online store’s Payment Page on various channels

Payment Pages can be shared with your customers on Facebook, Instagram, Messenger, WhatsApp, Twitter, and more!  Let’s take a look at how most online businesses and freelancers share Payment Pages on various channels.

razorpay payment pages online store

How online businesses use Payment Pages – popular use cases

Although the use cases for Payment Pages are many, tickets and events, donations, fee collection, and online product sales have been the predominant ones.

razorpay payment pages

Learn how you can

See it to believe it!

Experience how your Payment Pages powered online store works! Check out the demo.

What our customers have to say

online store razorpay payment pages

The upshot

Razorpay Payment Pages has truly stood up to our tagline: #PoweringDisruptors. Forget the hassle of going through with building and maintaining a website when we will do it for you!

Payment Pages boasts of over 11,000 customers as of October 2019, with the likes of Swiggy, Decathlon, BloombergQuint, Goonj, Brigade Homes Group, and Innov8, among others. 

 

Ready to Start Accepting Payments Online?

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

How to Choose the Right Payments Solution for Your Business

razorpay how to choose the right payments solution

Choosing the right payments solution that supports your unique business case can be quite difficult and demanding. And, this is especially true if you have more than one use-case for your business. So, without further ado, let’s talk about the different payments solutions that you can opt for from the Razorpay product suite. To get there, let’s go through some basics.

What is a payments solution?

A payments solution (payment gateway and related products) is a service that receives an online payment request from your website. It further validates the payment details of your customer and checks for sufficient funds in their account for them to make the purchase.  Then, the transaction is authenticated, and the funds are transferred from your customer’s account to your merchant account.

[Suggested read: What is a Payment Gateway and How Does it Work]

What is the need for a payments solution?

If you’re an online business, you know for a fact that you have to accept payments from your customers. In today’s time and age where cash is simply not the best option; choosing the right payments solution is your way to go. And, it comes with a multitude of advantages.

Provide good payments experience

Most consumers are getting exceedingly comfortable with online payments. If they’re getting a cab ride or going to the movies, online payments have pretty much disrupted e-commerce to a great extent. And, the payment process is quite simple too. Consumers prefer cards, UPI, EMI, and other payment modes over cash to make their online purchases. 

Most payments solutions provide multiple payment options for consumers to choose from. By choosing a payments solution, you provide a good payments experience to your customers by allowing them to pay online, using the payment mode they’re most comfortable with.  

Accelerate the process

When your customer chooses to pay online, you don’t have to wait a long time to start processing their purchase. This also confirms that they’re a legitimate buyer who’s interested in your product, and not conning you by simply placing an order.

Your customer need not wait too long to receive their purchase. Their transaction takes a few seconds to go through, resulting in a quick confirmation of their purchase. A payments solution also helps improve cash flow for your entire business.

Make informed business decisions

Using a payments solution allows you to have complete control over the customer data you’d like to capture, to better assess your business strategy. Further, you can manage all your payments, refunds, transfers, subscriptions, webhooks, invoices, and more, all in one place (dashboard).

Based on the transactions and captured customer data, you’ll be able to receive key statistics based in real-time. You also get access to insights that can help you make better business decisions.  With different views, you can easily generate customizable settlement and reconciliation reports. 

Open your business to the international market

Accepting payments not only locally, but internationally also becomes a cakewalk with the right payments solution. This helps you open revenue streams from many countries, helping improve cash inflow. 

A good payments solution also supports transactions in many different currencies, while converting payments into your base currency. All the payments you receive in foreign currencies are also settled in your base currency. 

[Suggested read: How to Choose the Best Payment Gateway for Your Business

Razorpay’s payment solutions for your business case

Alright, now that we’ve gone over the fundamentals, let’s jump right into understanding the different payments solutions, and how each one of them can apply for your business case.

Razorpay is the only converged payments solution company in India that allows your business to accept, process, and disburse payments via its product suite. With Razorpay, you have access to all payment modes, including credit and debit cards, UPI, and popular mobile wallets.

No matter what your business case is, Razorpay has a payments solution for you. Ideally, you’d want to choose the payment solution that supports your business case.

Payment Gateway – All payments on website and app

payment gateway - Razorpay payments solution

Razorpay Payment Gateway works best to accept payments on your website or app. The PG easily integrates with your system while providing you with a completely online onboarding experience. 

Features

Accept all payment modes – From domestic to international, Razorpay supports the most extensive set of payment modes. Credit cards, debit cards, UPI, EMI, mobile wallets, and netbanking. You name it. We got it!

Checkout and global card saving – Say goodbye to asking your customers over and over to provide their payment details. 

Developer friendly – Razorpay PG offers robust, clean, and developer-friendly APIs, with plugins and libraries for all major languages and platforms.

Learn: Boost your conversions with Flash Checkout Provide your customers with a seamless payments experience with Razorpay Payment Gateway.

Payment Links – Create & send links to accept payments without integration

Businesses sometimes face the problem of upfront money collection and delayed payments from their customers. This can severely affect cash liquidity. Razorpay Payment Links is your way to go to steer clear of this problem.

Features

Batch upload – Create and share Payment Links for hundreds of your customers in one go by uploading a .csv or .xlsx file with customer and payment details. Save time and effort in issuing Payment Links with reduced manual errors.

Partial payments – Provide your customers with the flexibility to make payments in parts against large orders, as an upfront token amount or an advance payment instead of making the entire payment at once.

Create Payment Links on the go – Razorpay’s free browser extension helps you create and share Payment Links via email, Whatsapp, Facebook Messenger and other online channels with ease.

Tidbit: Payments fail for various reasons. And, Payment Links works best to help your customer go over the transaction again. Simply create and send the Payment Link over SMS or email.

[Suggested read: Why do Online Payments Fail?]

Learn:

Getting paid is simply a Link away!

Payment Pages – Customized, hosted pages to collect payments

payment pages

Offering online payments to your customers can sometimes be daunting. Creating a website, hosting it, integrating a payment gateway may consume too much of your time and resources. Razorpay Payment Pages is specifically designed to accept payments online, even for a business that doesn’t have a website or an app.

You can effortlessly create a Payment Page in less than 5 minutes, go live and start accepting payments from your customers, without any support. Create your own Payment Page from scratch or choose from one of the templates that are already available to you.

You can customize this Payment Page to suit your branding by including your logo and your brand colors.

Learn: How Razorpay Payment Pages can enable your business

See it, believe it — Payment Pages demo

A few use-cases for Payment Pages

To further help you understand how Payment Pages can be used, here are some use-cases.

1. Events and tickets – Our hosted Event Registration Payment Page is a quick and efficient way to register event attendees online. 

Learn: How to Sell Event Tickets Online Without a Website

2. Accept donations – Razorpay’s hosted Donations Page is the way to go if you’re raising money for a good cause. This saves you valuable time, allowing you to focus on the cause. 

Learn: Accept Donations the Easy Way

3. Sell products – Take orders around the clock using our Online Order template.

Learn: Sell Online Without a Website

4. Fee collection – Collect fees within seconds with our hosted form, without any paperwork. Let’s worry about simplifying payments for you!

Subscriptions – Collecting recurring payments made easy

subscriptions Many companies are turning towards subscription models to reduce periodic collection cost, increase monthly recurring revenue, reduce churn, and offer a better user experience.  With Subscriptions, you can offer your customers plans with automated recurring transactions on many payment modes.

[Suggested read: Subscription Economy: Business Impact of Rapidly Changing Consumer Needs]

Features

Run on autopilot – Link your customer to a plan, create a subscription, and leave the rest on autopilot to work best for you.

Easy ReportingTrack all your subscriptions and make informed decisions using dashboard reports.

Handle edge casesRazorpay takes care of all scenarios such as declined card, retries on a failed transaction, change of card, etc.

Own customer experiencePersonalise the customer experience by communicating the subscription status and prompting the next steps.

More benefits of Subscriptions

You can onboard subscribers for your services from all around the world. Razorpay’s Subscriptions supports 100 currencies!

  • Offer your customer the option of a trial period with a subscription plan that automatically starts charging at the end of the trial period
  • Charge your customers a one time fee at the time of creating subscription before the actual billing starts
  • Add charges easily for any overhead expenses, extra services used etc. in the billing cycle
  • Allow your customers to upgrade or downgrade their subscription plans anytime they want, with proration
  • Offer your customers a variety of payment methods to choose from for the subscription. Subscriptions supports credit cards, debit cards, e-mandate, and more.

 Keep your customers coming back for more with Razorpay Subscriptions.

Smart Collect – Automate NEFT, RTGS, IMPS payments

Razorpay smart collect payments solution

Does Your Business Collect NEFT/RTGS Payments? If so, you’d know that reconciliation is a huge problem – it’s manual, tedious, time-consuming and error-prone, leading to poor accounting of cash flows. 

Razorpay Smart Collect is a powerful system to easily automate reconciliation for NEFT/RTGS payments through a real-time virtual account and Virtual UPI ID system. Create as many virtual accounts as you want and receive one or many payments per virtual account. Easily customize these as per your business use case.

Features 

One time payments – Accept a single, large payment from a customer via NEFT, RTGS or IMPS. Close the account as soon as you receive it. 

Regular payments – Create dedicated virtual accounts for each customer and easily keep track of each incoming payment.

Event-based payments – Create unique virtual accounts for each campaign, efficiently segregating the incoming payments for maximum control and visibility. 

Seamless Refunds – Send out full or partial refunds to customers via Dashboard & API and your customers will receive it directly in their bank accounts. 

Custom Account Numbers – Create account numbers the way you want. Highlight your company name or assign account numbers specific to customer IDs or any other custom fields.

Benefits of using Razorpay Smart Collect

  • Generate Virtual Accounts and Virtual Payment Addresses on-demand and accept payments via bank transfers or UPI
  • Create unique VA and VPA tagged to individual customers
  • Manage payments through Merchant Dashboard or via API
  • Real-time payment notifications via Webhooks
  • Instantly refund payments. Improve customer experience and trust by cutting down refund period from 3 business days to a few minutes

Popular business use cases

  1. Fee Collection – Accept payments with multiple payment modes to a virtual account
  2. Loan Repayment – Accept multiple loan repayments 
  3. Payments for Investments Plans – Receive payments towards investment plans
  4. Insurance Payments – Accept payments of insurance premiums periodically

Invoices – Get paid on GST compliant invoices 

razorpay invoices payments solution

Let your customers know what they are charged with a detailed breakdown of the expenses, including price, taxes, and discounts. Provide your customers with accurate information and yourself faster access to funds through online payments.

Razorpay Invoices provides customers with a seamless buying experience through beautifully designed invoices that speak your brand language.

Features

GST compliant – Add GST, discounts and shipping details, all in an invoice and let our invoicing solution do the calculation for you.

Partial payments – Enable partial payments for your customers at the time of invoice creation directly from the dashboard

One time effort – Save time and effort on entering the same line item again, instead, save it as a template and use it across invoices

Download Option – Let your customers save and download a .pdf version of invoices for future reference. With Invoices, you can create and send GST compliant invoices that your customers can pay online instantly.  Get paid faster and improve your cash flow.

What more?

If your business has a very unique use case, you can try a combination of products to help you meet your goal. All you have to do is let us know and we’ll figure things out for you.

[Suggested read: 7 Reasons why Razorpay is Right for You]

End of the road

And, there you have it! All of Razorpay’s payments solutions to accept payments from your customers, broken down to understand what kind of product you would essentially use for your use case. What are you waiting for? Get started now!

Ready to Start Accepting Payments Online?

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

What is a Neobank? Everything You Should Know

neobank

Lately, Neobanking has become a buzzword in the fintech community. The term has gained momentum since it’s been taking the spotlight on the news and media. But do we know what it’s all about?

Neobanks are taking over the fintech industry by a storm, on a global level. We see a new player on the market every day whose primary intention is to simplify financial services to a greater extent. Let’s understand what it truly means.

What is Neobank?

A neobank is a kind of digital bank without any branches. Rather than being physically present at a specific location, neobanking is entirely online.

It’s a wide umbrella of financial service providers who beseech today’s tech-savvy customers. Neobanks can be called fintech firms that provide digital and mobile-first financial solutions payments and money transfers, money lending, and more.

Neobanks don’t have a bank license of their own but count on bank partners to provide bank licensed services. 

As the financial landscape is shifting towards customer experience and satisfaction, a gap has developed from what the traditional banks offer to what customers expect. And, Neobanks are making an attempt to fill that gap.

Most traditional banks are bogged down by their legacy-based infra. So, they crumple when it comes to aiding SMEs with financial services like providing a payment gateway, an invoicing software, multiple views of cash management, among others. 

This disparity, along with the explosion of mobile technology, it only makes sense that banking services can coalesce with other financial services.

Why Neobank?

In recent years, we’ve seen a massive drift in the finance industry. With over 2000 fintech players in the country, digital payments are embraced at such a large scale. Customers are moving away from physical banks and physical cash, and more towards online banking and wallets. 

In our recent report, we talked about how India is moving towards an era of rising fintech. We talked about how Indian consumers transact digitally, and the numbers are growing on a rapid scale. More and more people are getting comfortable making online payments through Google Pay, Paytm, PhonePe, and more, now more than ever.

If we think about these numbers, we can see the potential neobanks have in the country. Neobanks provide the fluidity that traditional banks don’t. They can easily sustain themselves and turn out to be profitable.   

How does a neobank work?

Unlike a traditional banking system, neobanks have a completely different business model altogether. But, like traditional banks, neobanks do make money marginally between money inflow and lending. 

And, since there isn’t a physical location and that they’re completely online, the customer fees are slashed by a significant amount. Because Neobanks are customer-centric, they provide personalized services to their customers that are fired up via technology. 

Data-driven decisions drive the decision-making process of a neobank. Since their platforms are also very modernized, it becomes easier for them to collect and analyze data and understand how their customers behave in the neobanking ecosystem. Based on these observations, they create cohorts of customers based on their actions rather than merely sticking to one or two data points. 

What are the advantages of neobanking?

Since neobanks are completely digital, they open up a wide window of advantages to a customer. Here are some key points that may interest you into moving towards a neobank.

Hassle-free account creation

We’re all fully aware of the pain we need to go through to create an account in a traditional bank. The process may not be as elaborate as before, but the hiccups aren’t completely gone. This tedious process is completely eliminated while creating an account with a neobank. 

Neobanks don’t have a storefront like we discussed earlier. So, you don’t have to go anywhere to create an account. You can do it in a couple of simple steps, right at the comfort of wherever you are, and on your phone!

And, you’ll have the account ready in just a couple of minutes!

Seamless international payments

In the case of traditional banks, it isn’t always that we get a debit card that can be used anywhere in the world, or transact internationally. We may have to ask for an upgrade, make a request, and finally have an international debit card.

You don’t have to worry about any of that if you have an account in a neobank. You can use your card to make purchases, or transact while you’re abroad, with current exchange rates.

User-friendly interface

Neobanks are all about providing an excellent customer experience. This also means you don’t have to work through a glitchy netbanking site anymore. You don’t have to worry about a mobile app that isn’t very responsive.

Neobank apps are very crisp, clean, and user-friendly. They’re highly responsive and well-designed to suit the needs of a customer. The ease of use is what makes the app such a hit amongst its customers.

Smart reporting

Transactions made via neobanks are immediate. The transaction details are populated instantly providing you with an up-to-date balance on your account, at all times. All of your transactions and payments appear on your app and, you don’t have to go anywhere else for this information. 

The neo-app also provides you with an overview of your expenses, along with a savings goal which can be customized to best suit your needs. This helps you manage your finances in a much better and informed manner.  

Neobanks are great for businesses, too!

So far, we talked about how much customers can do with neobanks. Now, let’s understand how businesses can make the most of neobanks.

If you’re a business, you often have to deal with long, tedious processes involving payments and disbursals. Often, you end up spending hours and hours on manual efforts every month because of multiple buggy software and complex infra systems.

Money movement views can also be super tricky because of complexity. Oh, and let’s not forget that you’ll receive no insight on payouts to make impactful business decisions.  

With a product like RazorpayX, you get to simplify, accelerate, and supercharge every aspect of your financial operations! From accepting payments and managing cash flow to reconciling transactions and flexible payouts.

  • You end up saving 10x time because of instant payouts with reduced manual effort  
  • You provide a superior customer experience 
  • You’ll have access to a unified platform that helps you make, control, track, and analyse all forms of money movement from its powerful dashboard.
  • You also manage and track money movement to vendors, customers, employees, etc. through in-depth Financial CRM.

The result, you ask? You make informed, impactful business decisions with off-the-shelf analysis on payouts mode! And, there you have it, some light on the buzzword “neobanks!”

7 Reasons Why Razorpay is Right for You

Razorpay is the only converged payments solution company in India that allows your business to accept, process, and disburse payments via its product suite. With Razorpay, you have access to all payment modes, including credit and debit cards, UPI, and popular mobile wallets.

The most crucial quality of a payments solution is the ability to scale itself to meet your growing demands. At Razorpay, we are devoted to making sure you have the best payments infrastructure in place.

[ Suggested read: How We Evolved into India’s First Converged Payments Solution ]

Read on to see if you identify with these objectives.

#1 You want to easily add payments to your website or app, with a seamless checkout experience

Razorpay’s Payment Gateway is a system designed to handle end-to-end payments.

Have we told you how easy it is to integrate our Payment Gateway? You can go live in minutes, especially because our Payment Gateway is built for developers. The APIs, plugins, and libraries are very dev-friendly.

Razorpay’s Payment Gateway supports the most extensive set of payment modes. From domestic and international credit/debit cards to UPI and mobile wallets, we’ve got you covered. 

#2 You need a wide range of payment solutions and services to support your versatile business

How would you reduce periodic collection cost, increase monthly recurring revenue, reduce churn, and offer better user experience to your customers, all at the same time?

With a subscriptions model, of course! 

Offer your customers plans with automated recurring transactions on many payment modes.

With Razorpay’s Subscriptions, you can onboard subscribers from all around the world! Subscriptions also supports multiple billing models. Which means –

  1. You can automate your fixed price recurring charges to your customer around a fixed schedule 
  2. You have the flexibility to charge your customer based on number of users or quantity per billing cycle 
  3. You can charge your customer only for what they consume in a billing cycle

Let’s say you’re dealing with a one-off use case where you wish to accept payments from your customers. Could be something like a workshop or even raising funds for charity. Would you build a whole new eco-system for this?

Nope!

Create a Razorpay Payment Link or a Payment Page and share with your customers via email, text message, or social media, without creating a separate integration!

With either one of Razorpay’s products, you get to accept payments from 100 currencies from all over the world!

#3 You want to target your efforts towards specific areas of your business based on data and insights

Decision making is a crucial aspect of any business. And, data plays a huge role in this process since it enables you to form business contingency, as you can predict future trends and optimize your current efforts.

Razorpay’s dashboard is the most comprehensive, data-driven, and an analytical dashboard that serves your purpose. 

The dashboard helps you evaluate real-time data and draw insights from the extensive reports, so you make better and informed business decisions.

#4 You want to manage and track money movements to vendors, customers, employees, and more

We understand traditional payments and disbursals can be a pain. With traditional banking, you end up spending many hours of manual labor every month because of multiple buggy software and complex infra systems. 

Money movement views can also be super tricky because of complexity. Oh, and let’s not forget that you’ll receive no insight on payouts to make impactful business decisions.  

Not anymore.

With RazorpayX, you get to simplify, accelerate, and supercharge every aspect of your financial operations! From accepting payments and managing cash flow to reconciling transactions and flexible payouts.

You end up saving 10x time because of instant payouts with reduced manual effort, also providing a superior customer experience.

RazorpayX provides you with a unified platform that helps you make, control, track, and analyze all forms of money movement from its powerful dashboard.

You can also manage and track money movement to vendors, customers, employees, etc. through the in-depth Financial CRM.

The result, you ask?

You make informed, impactful business decisions with off-the-shelf analysis on payouts mode!

Say bye bye to traditional banking with RazorpayX!

#5 You leave no stone unturned when it comes to providing your customers with the best support there is

As your business grows to see new heights, you are definitely in need of highly responsive customer service. What good is a product if the customer support is slouchy?

Your customers’ problems are our problems.

With Razorpay’s remarkable Customer Support, you don’t have to worry about clarifying any payments related setbacks to your customers. We’ll solve all problems for you, and in turn, help you serve your customers better.

Your customers spend less time on hold and have their problems solved at lightning speed.  

Our Customer Support offers live support for you and your customers. And, by that, we mean real people and not bots. 

#6 You want to open up new revenue streams by expanding your business on a global scale

With Razorpay’s International Payments, you get to open an entirely new channel of acquisition and grow your business to a whole new level! 

We understand payments more than anyone, and it only makes sense that we support you when you take your business to the world. 

Give your business state-of-the-art payments infrastructure with Razorpay’s International Payments. 

With over 100 currencies supported on the platform, experience seamless payments from any part of the world with real-time currency conversion!

You can integrate the Payment Gateway in minutes or give your international customers, subscription plans with automated recurring transactions.

You can share payment links via text messages, email, and more or create custom-branded Payment Pages to accept international payments online.

You can also send your global customers invoices that are GST complaint, with item-level details and accept payments through the many many payment modes we support!

#7 You want highly reliable fraud prevention and security

We understand that most people have different security concerns while making online transactions. It’s hard-earned money, after all. With so many people making purchases online, there is a growing need to make sure that all the information they enter is safeguarded.

And, we are highly motivated to provide robust security, so this sensitive info doesn’t fall into the wrong hands. This is where Payments Compliance comes to the picture. 

Created, mandated and registered by the branded cards and Payment Card Industry Security Standards Council (PCI SSC), the Payment Card Industry Data Security Standard (PCI DSS) is the set of rules that makes sure that every transaction is safe and no data is lost.

All of Razorpay’s products are secured by an industry-standard 100% PCI DSS compliant and certified solution.

So, did you nod your way through thinking “yes, I need that!”? Then, get started with Razorpay now!

Everything You Should Know About Facebook’s Libra

Facebook Libra cryptocurrency - all you need to know about it - Razorpay payment gateway

With so much buzz about Facebook’s Libra all over the internet, we wanted to make things easier for you. We made a ton of research on the newest innovation, so you don’t have to!

Let’s jump right in.

Apparently, a couple of years ago, Mark Zuckerberg expressed his interest in cryptocurrencies in an interview in the subtlest manner. Seems like he was earnest about exploring opportunities in the financial services industry.

Facebook revealed Libra, a cryptocurrency, along with a consortium of 27 partners and associations earlier. Libra was conceptualised around a mission – to enable a simple global currency infrastructure that empowers billions of people. 

Let’s slow down and understand what the deal is all about.

What is Libra, exactly?

Facebook’s Libra is not just a cryptocurrency.  It’s a “reliable digital currency” all about delivering “the Internet of money” through an efficient infrastructure. The cryptocurrency is intended to be sent to any part of the world with a bare minimum of a fee. 

How is Libra any different from all the other cryptocurrencies out there? 

We thought you’d wonder. 

Since we’re all familiar with Bitcoin, let’s understand the whats and hows of Libra through painting a contrast.

Although built on the same fundamental axiom as Bitcoin, Libra aims to have a stable value, while it gets backed by a number of currencies. 

And, unlike Bitcoin, which is open in nature, Libra is not going to be so. A bank does not issue Bitcoin or manage it either. You can pretty much download a crypto wallet and get going. But Libra is more like digital money with traits of fiat money, if that makes sense.

Libra is also not as decentralised as the other cryptocurrencies. You can open and download the open source code for free in the case of Bitcoin. There are speculations about Libra having multiple central nodes instead of one centralised node, which can be controlled by a legion of stakeholders.

We all know how secure Bitcoin is because of its decentralised nature. It’s next to impossible to hack, being one among the most secure computer networks ever. We’ve already talked about Libra having multiple centralised nodes. This may create a few loopholes concerning security.

So, what’s the idea behind Libra anyway?

Libra is all about making financial services accessible for everyone, irrespective of their geographical location or financial background. The Libra case study talks about how people with less money end up spending way too much money on financial services. And, this is something that should not go unaddressed. 

With the belief that a low-cost money movement will create better economic opportunities, Libra is to charge a very insignificant amount as the fee for transactions.

Libra is also conceptualised to put an edge on advanced financial inclusion, ethical factors, and the integrity of the ecosystem. 

How does Libra work?

Let’s talk a little about the flow of events. 

Imagine you buy Libra. What happens next?

The money goes into a bank account and stays there. It won’t budge because the idea is to match the value of a Dollar or Euro. When Libra’s value is that of a currency, it’s immediately backed by a Dollar or a Euro in the bank.

Why so?

Because, the account holding of Libra in a bank will generate interest based on value, which can be used to return the initial investors of the cryptocurrency. 

Again, comparing with Bitcoin, Libra can be created without a limit on the number, unlike Bitcoin, which is said to have an upper limit of 21 million. And, creating Libra is also not as laborious as Bitcoin, since Bitcoin consumes a lot of electricity.

If Libra works the way it’s told to work, we should all be able to send it to any business on a global scale. 

The best part is, you can also convert Libra back to your preferred currency. Calibra, Facebook’s wallet will convert Libra at the current conversion rate and helps transfer money into a bank account.

What can you use Libra for?

Libra is built in a way that any organisation can accept a coin and make a wallet on top of it. So, Libra is not just limited to Facebook. The cryptocurrency is intended to be for all of Facebook’s users (about 2.7 billion), including Messenger. 

Libra can be used for multiple purposes. Since the partnership is branched out all the way to Uber, Spotify, and more, it’s expected that one can buy services on the partnered businesses through Libra. You can also run Facebook ads using Libra.

Facebook also went about setting up Calibra, a subsidiary. This is going to make Libra accessible to all users. The idea is to expand and build more financial services as a layer on Libra. 

You can set up a Libra wallet from any part of the world by providing identity proof. The only setback will be faced by regions that have limitations on the use of social networks. 

Libra is said to work all over the world from the year 2020.

How do things look for Libra in India?

We all know about the crypto-ban in the country and how there is a draft law that proposes a 10-year jail term for holding, selling or dealing in cryptocurrency.This could also mean that Libra may never make an entry at the Indian financial services landscape.

Considering how India is also moving towards a fintech revolution, it can do more good than bad if Libra were to set itself to work in the county. This is particularly great for Facebook since Indians are heavy users of Facebook and WhatsApp. 

There is a lot of hush-hush about the reputation though. Facebook has an underlying negative tension since it hasn’t safeguarded its user information to the best it could. Concerns about security since it’s money we’re dealing with, simply cannot be sidelined. 

Speaking of security, Libra is not as decentralised as a cryptocurrency usually is. This can pose a threat, or help Libra represent itself as “not a cryptocurrency but is like one” and find its way into the Indian market. 

Let’s say Libra does enter the Indian fintech. What could possibly happen? If you think about it, Libra can compete with our favourite UPI. Since UPI, digital payments have gotten way easier than ever, mobile payments had a breakthrough, and the country moved a step ahead in its fintech journey. Libra could give UPI a run for its money.

Libra could also become one of the prominent methods of online transactions since payment solution companies will also come forth to support the same.

We’ve talked about UPI contributions from various cities and states of the country. Now, let’s talk about rural areas. From our previous report, we know where tier-3 cities stand with UPI. But can we all agree upon the fact that tier-3 cities have WhatsApp and Facebook users? Of course.

If people from these areas aren’t really catching on to UPI, could it be possible that since they already have WhatsApp and Facebook, or either one among the two, they’re a step closer to financial inclusion? 

Maybe.

 

Razorpay Payment Pages: The SME Payments Enabler

razorpay payment pages accept payments without website

Update: All new Razorpay Payment Pages

What’s new?

With the update, Payment Pages is now much more functional than ever! The new power-packed features enable your online store to collect payments seamlessly, while you focus on providing your customers with brilliant user experience.

  1. Multiple listings
  2. Smarter purchase controls
  3. Reordering input fields
  4. New input fields
  5. Intuitive reporting
  6. Dynamic mobile experience 
  7. Embeddable Payment Request button
  8. Redirecting your customer

Read more: Build Your Own Online Store with Razorpay Payment Pages

Accepting payments online is one of the most challenging aspects of owning a business. If you’re a small or medium-sized company, then we don’t have to tell you how difficult it can be.

Although there are a good number of payment processing companies out there, the problem still persists.

Let’s see how we can tackle this problem in a very simple and effective way.

You could be a small startup offering online solutions or services, a social media seller, someone offering workshops and courses, or even someone fundraising for charity.

The single most challenging facet of this is – how to accept payments?

To accept payments online, the first thing you need is a website. Next, a payment gateway integration. And, money, of course.

If you don’t have a website already, building one is going to take you some time.

Oh, and this can be very expensive because you have to host your website and develop it constantly. If not a website, an app.

A payment gateway is essentially the way you’d look after you have a website in place. But you’ll end up looking the other way when you learn about the charges, the amount of time it takes to get integrated, and the technical efforts it needs.

You are an SME, and it doesn’t always make sense to spend that kind of money.

What then?

How about a page that is not hosted or developed by you, but has your branding, and accepts online payments for you?

Razorpay Payment Pages is literally just that! Whether you have a website or you don’t, whether you have an app or you don’t, you can still accept payments online through Payment Pages.

Razorpay Payment Pages is the easiest way to accept payments with custom-branded hosted pages.

Small and medium-sized entrepreneurs can take their business online and accept payments with limited technical knowledge and even less set-up time.

How does Payment Pages work?

Razorpay Payment Pages is specifically designed to accept payments online, even for a business that doesn’t have a website or an app.

You can effortlessly create a Payment Page in less than 5 minutes, go live and start accepting payments from your customers, without any support.

You can create your own Payment Page from scratch or choose from one of the templates that are already available to you. You can customize this Payment Page to suit your branding by including your logo and your brand colors.

How can Payment Pages enable your business?

Razorpay Payment Pages helps your business with end-to-end payment collection by allowing you to create your page without you having to host it, still allowing you to have a custom URL, which is an extension of your business.

This is going to remarkably bring down your costs already. Payment Pages enables you to capture customer data the way you’d want, with particulars you decide on.

Next, you have access to a dashboard that gives you detailed reports (and analytics) for payments collected via the hosted page.

And best of all, it will take you absolutely no tech expertise or effort to build yourself a Payment Page and go live.

Razorpay Payment Pages detailed view dashboard

Payment Pages also works for your one-off use where you have to accept payments, without having to create a separate integration.

You can simply link your Payment Page to your website where you need to accept payments.

All of this with complete security since Payment Pages is a part of the Razorpay’s core platform. Your Payment Page is secured by an industry standard 100% PCI DSS compliant and certified solution.

A few use-cases for Payment Pages

To further help you understand how Payment Pages can be used, here are some use-cases. You can view demo by clicking on each of the images.

Events and tickets – Our hosted Event Registration Payment Page is a quick and efficient way to register event attendees online. 

Payment Pages use case

Accept donations – Razorpay’s hosted Donations Page is the way to go if you’re raising money for a good cause.

This saves you valuable time, allowing you to focus on the cause.

Payment Pages use case

Sell products – Take orders around the clock using our Online Order template.

Payment Pages Use Case

Fee collection – Collect fees within seconds with our hosted form, without any paperwork.

Payment Pages use case

Create a Payment Page in just a few clicks

You can go live with your Payment Page in a matter of minutes!

 

What do our customers say about Payment Pages?

razorpay payment pages accept payments without website

Razorpay Payment Pages boasts of 700 customers as of March 2019 with the likes of Schindler, Swiggy, Don Bosco School, BMW Financial Services, Nestaway, Testbook, and FinanceBazaar, among others.