An innovative payment gateway Razorpay which aims to revolutionize online payments by providing clean, developer-friendly APIs and hassle-free integration. They offer a fast, affordable and secure way for merchants, schools, ecommerce and other companies to accept payments online. Razorpay is an online payment gateway which allows Indian businesses to collect payments online through credit card, debit card, netbanking and popular wallets like Mobikwik, PayUmoney etc.

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As per the latest updates from the startup, American payments and financial services company MasterCard has invested an undisclosed amount in Razorpay, an online payment gateway solution for small and medium enterprises and platforms.

The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment. In 2013, it had invested in Chicago-headquartered analytics company Mu Sigma.

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Harshil Mathur, cofounder of Razorpay while speaking about the development mentioned,

“The association with MasterCard opens up the network of banks it works with. As our product focuses on reducing the failure rate of transaction, this will help us bring down the number of hops,”

He further added saying,

“India is helping to shape the future of ecommerce through strategic collaborations and innovative technology. The work that Razorpay is doing in India complements existing Master-Card solutions that are helping merchants of all sizes and grow their business,”

Adding to this, Stephane Wyper, global lead for MasterCard Start Path programme mentioned,

“India is helping to shape the future of ecommerce through strategic collaborations and innovative technology. The work that Razorpay is doing in India complements existing Master-Card solutions that are helping merchants of all sizes and grow their business,”

Razorpay was incorporated in 2013 and currently works with 8,000 merchants.

 

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Shivani Pandita

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