Highlight
- Razorpay plans to increase annual payments volume processed from $150 billion to $750 billion by 2030
- Razorpay launched a new product called Checkout 360
Razorpay’s founder and managing director Shashank Kumar talks about the company’s planning to increase their annual payments volume processed from $150 billion to $750 billion by 2030. He also mentioned above the company is planning to expand globally.
Razorpay new product
Razorpay launched a new product called Checkout 360, specially designed for quick payment solutions for direct-to-consume (D2C) companies. Recognizing the rapid growth of the D2C sector in India, which is projected to reach $60 billion by FY27, Razorpay aims to provide these businesses with efficient and innovative payment solutions.
Shashank Kumar, emphasizes the importance of delivering exceptional customer experiences in today’s evolving market. He highlights the increasing demand for quick and convenient checkout processes, driving the need for innovative payment solutions across D2C companies.
The Founder also talks about the offline transactions involve the use of UPI more than cash or cards today, he emphasized that the company’s latest POS devices are designed to prioritize UPI payments over cash or cards, offering enhanced features like product offers, EMI calculations, and a more seamless customer experience.
Compliance and Customer Data Security
He also mentioned the security compliance of Razorpay, he emphasized that Razorpay places a high priority on compliance with regulatory guidelines, ensuring that all its products undergo rigorous compliance checks before being launched.
The company also emphasizes the importance of customer data security, implementing robust measures to protect sensitive information, and obtaining necessary consent for data usage.
Also Read: Google Pay Unveils New Features at Global Fintech Fest 2024
Razorpay Global Expansion
The company has recently acquired a license to operate in Malaysia and is exploring opportunities in other Southeast Asian markets like the Philippines, Singapore, and Thailand. With a current global market share of 3%, Razorpay aims to increase its share to 10% or more in the coming years.
