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Razorpay Launches RAY, Engage To Expand Offerings

Inc42 · 1y ago

Razorpay Launches RAY, Engage To Expand Offerings

Fintech unicorn Razorpay has introduced an AI chatbot called RAY for payments and payroll management, along with a marketing growth suite called Engage. The company claims both products are the first of their kind in India. Engage helps businesses understand customer behaviors and provides personalized incentives for customer retention and acquisition. RAY is an AI-powered assistant that offers seamless payment management solutions through voice and text commands. Razorpay also unveiled other AI-based products, including FraudShield and an AI-Powered RTO Suite. The company aims to leverage AI to enhance its offerings and provide better customer experiences.

Related News

Razorpay expands to Singapore to grow in SEA

Entrackr

Entrackr · 4m ago

Razorpay expands to Singapore to grow in SEA

Razorpay expands to Singapore to grow in SEA Razorpay has expanded into Singapore, its second market in Southeast Asia after Malaysia. According to a study, Southeast Asia’s digital payments market is projected to exceed $2 trillion by 2030. Businesses in Singapore face high cross-border transaction fees (4-6%) and fragmented payment systems. Razorpay offers AI-powered, easy, and secure payment solutions to support local businesses. Its offerings include multi-currency transactions, real-time payments, and cost-efficient cross-border solutions. The Agentic-AI toolkit automates transactions and financial operations. RAY, an AI concierge, manages payments, payouts, payroll, and fraud protection. Magic Checkout provides a one-click payment experience to boost conversions. Razorpay supports multiple payment methods, including digital wallets and real-time payment rails. Co-founder Shashank Kumar stated that AI-driven solutions will help businesses scale efficiently. SEA Head Angad Dhindsa highlighted the need for cost-effective global transactions. Razorpay will collaborate with banks, financial institutions, and regulators for smooth integration. Following its success in Malaysia with Curlec, Razorpay aims to strengthen its SEA presence.

Razorpay launches Q-Zap, new solution for faster offline billing

Economic Times

Economic Times · 1y ago

Razorpay launches Q-Zap, new solution for faster offline billing

Razorpay has introduced Q-Zap, a new offline payment service that allows merchants to process payments anywhere in their stores. The service aims to reduce billing time by 40% and operating costs by 20%. Q-Zap also integrates with 120 billing partners to streamline tasks such as billing, payment collection, and reconciliation. The solution aims to eliminate checkout lines, freeing up staff to provide better customer assistance. Razorpay has been expanding its offline merchant payment offerings, including through the acquisition of Ezetap.

Meta to roll out broadcast channels to Facebook, Messenger

Economic Times

Economic Times · 1y ago

Meta to roll out broadcast channels to Facebook, Messenger

Meta (formerly Facebook) plans to introduce broadcast channels on Facebook Messenger. This feature will allow content creators to reach a broader audience and engage with their followers. The move is seen as a part of Meta's efforts to diversify its offerings and expand beyond traditional social media platforms.

Razorpay launches full-stack payments in Malaysia

Economic Times

Economic Times · 1y ago

Razorpay launches full-stack payments in Malaysia

Razorpay, a leading Indian fintech company, has expanded its services to Malaysia by launching full-stack payment solutions in the country. With this expansion, Razorpay aims to provide seamless and comprehensive payment solutions to businesses in Malaysia. The move signifies Razorpay's commitment to expanding its presence in international markets and facilitating digital payments in the region. The company had acquired recurring payments startup Curlec in 2022 and its full-stack payment product is now going live. Razorpay will also leverage Malaysia to enter other South East Asian countries.

Razorpay launches export account for SME merchants to receive international payments

Money Control

Money Control · 1y ago

Razorpay launches export account for SME merchants to receive international payments

Razorpay, a payment solutions company, has launched an "Export Account" service for SME merchants to receive international payments, as reported by Moneycontrol. This offering enables small and medium-sized enterprises (SMEs) to efficiently handle cross-border transactions and expand their business globally. Revenues from Razorpay's international payments division contribute about 20 percent of its overall payments revenue and the firm expects to cover over 1-2 lakh businesses by end of 2025.

PhonePe launches payment gateway, targets MSME merchants

Money Control

Money Control · 2y ago

PhonePe launches payment gateway, targets MSME merchants

PhonePe, a popular digital payment platform in India, has introduced a payment gateway to cater to micro, small, and medium-sized enterprise (MSME) merchants. The gateway enables businesses to accept online payments seamlessly and offers features like instant settlements and fraud prevention mechanisms. PhonePe's move aims to support the digital transformation of MSMEs and expand its presence in the merchant ecosystem. The space is presently dominated by Razorpay, Cashfree, CCAvenue, Pine Labs, and PayU. One97 Communications Limited, the parent company of Paytm also launched its own payment gateway in 2012.

Razorpay elevates Khilan Haria as chief product officer

Economic Times

Economic Times · 5m ago

Razorpay elevates Khilan Haria as chief product officer

Razorpay has promoted Khilan Haria to Chief Product Officer (CPO), marking the first time the company has appointed a CPO. Haria will oversee product strategy, enhance Razorpay’s offerings, focus on innovative, customer-centric solutions, and guide the global product roadmap. With over 16 years of experience, Haria aims to redefine payments and financial technology globally. Razorpay, founded in 2014, is transitioning its parent entity from the U.S. to India, pending regulatory approvals.

Fintech firm Pop eyes $10-15 million round from Razorpay, others

Economic Times

Economic Times · 4m ago

Fintech firm Pop eyes $10-15 million round from Razorpay, others

Fintech firm Pop, based in Bengaluru, is seeking $10-15 million in funding, with Razorpay considering investment through its venture arm, Razorpay Ventures. Pop, known for its payments and rewards platform on the UPI network, attracts interest due to its B2C potential. The startup, valued at $15 million, may also consider acquisition offers valued at $50 million. Razorpay aims to expand its consumer reach, with Pop among potential early investments.

Razorpay Launches ‘UPI Autopay On QR' For Subscription-Based Businesses

Inc42 · 1y ago

Razorpay Launches ‘UPI Autopay On QR' For Subscription-Based Businesses

Fintech firm Razorpay has introduced 'Razorpay UPI Autopay on QR' in collaboration with the National Payments Corporation of India (NPCI). This service simplifies UPI subscription payments for businesses, allowing them to create QR codes for subscriptions and integrate them into marketing materials. Customers can scan the QR code to make subscription payments. This offering aims to support subscription-based businesses' growth, particularly in metropolitan and Tier 1 cities. It leverages the widespread use of QR codes to encourage rapid adoption and acceptance of UPI payments for subscriptions.

Fintech strtup Mswipe Technologies receives Payment Aggregator license from RBI

IndianStartupNews

IndianStartupNews · 1y ago

Fintech strtup Mswipe Technologies receives Payment Aggregator license from RBI

Indian payment solutions provider Mswipe Technologies has received a payment aggregator (PA) license from the Reserve Bank of India (RBI), joining a select group including Juspay, Razorpay, and Google. Mswipe aims to enhance its offerings and provide a seamless payment experience through its suite of digital payment solutions. The company plans to diversify its services and expand its merchant network, focusing on mid-tier businesses and micro, small, and medium enterprises (MSMEs). This move is expected to drive innovation and contribute to a more inclusive and empowered payment ecosystem in India.

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