10 Reasons Why Razorpay Payment Gateway is One Among the Best
Boosting in India’s online universe was unprecedented with the emergence of the pandemic. This saw millions taking to e-commerce space for continuing their business. While large firms existed that provided payment gateways, it isn’t viable for the newbies and small, less tech savvy commercial units to get these complex software installed and running.
This led to acceptance of a very easy to integrate Payment Gateway – Razorpay, one of best payment gateways in India. This Bengaluru based start-up is valued at $3 Billion with 50,00,000+ businesses (both large and small) using its service and is planning to expand in Asia pacific.
Here are 10 key reasons why Razorpay payment gateway benefits business and customers equally.
1. Quick and easy integration with website and App
Razorpay is India’s only converged payments solution provider, allowing firms to accept, process, and distribute financial payments through its range of products.
Because the Payment Gateway is designed with developers in mind, implementing it and going live is just a matter of minutes. The APIs, plugins, and libraries of this tool are all designed for developer’s ease.
2. Accept wide range of payment solutions and services
Razorpay’s Payment Gateway accepts a widespread range of payment methods from domestic to international.
You may accept payments in 100 different currencies from all around the world with either of Razorpay’s products!
Without having to create a separate integration, create a Razorpay Payment Link or a Payment Page and send it to your consumers by email, text message, or social media to accept payments.
Payment pages can be created with a few clicks and no coding is required.
3. Robust subscription model
With it’s subscriptions model, you can onboard subscribers from anywhere! It also supports multiple billing models offering your customers plans with automated recurring transactions.
This reduces periodic collection costs by 24%, boost monthly recurring revenue, 8% reduction in churn, and improve user experience. Not to forget upto 1.7x increase in combined loan-to-value (CLTV)
3. Effectively track movements of money to customers, employees, vendors
From its classy dashboard, Razorpay offers a unified platform to make, monitor, track, and analyze all types of money movements.
Usually, heavy software and complex infra systems make the traditional banking process a pain requiring many hours of manual effort each month. So deriving any information about payouts to make important business decisions is next to impossible.
But now you can simplify and speed-up every element of your financial operations with Razorpay. Accepting payments and monitoring cash flow can’t get easier saving time and effort.
More so the Financial CRM of this payment gateway to handle and track money transfers to any vendors, customers, and staff you employ gives much more power on your hand.
4. Razorpay Google Chrome Extension
To make payments process time and effort reduce even further, Razorpay’s free Chrome browser is a game changer. This extension helps in building and sharing Payment Links via SMS, Email, Whatsapp, Facebook Messenger and other online channels with ease.
5. Batch Upload feature for multiple payments
The batch upload feature helps receiving many payments just by uploading one excel file. You can build and share payment links to hundreds of your customers in one go by filling a .csv or .xlsx file with customer and payment details and then upload it on Razorpay. This is significant in saving time and effort in issuing payment links with less manual errors.
6. Invoice creation and Partial Payments facility
In businesses invoices are key. Razorpay gives you the option to add GST, discounts and shipping details in an invoice. Plus, the invoicing solution of the tool will do the calculation for you hassle-free.
Another point to note- it’s rare that 100% payments are paid upfront in many transactions. In such a case Razorpay’s partial payments facility brings in much needed help. This will provide your customers the flexibility to make payments in parts against large orders, as an upfront token amount or an advance payment rather than making the entire payment at once.
7. Learn, analyses and focus on definite areas of your business based on data and insights
Making key decisions is an important element of every business. And data is critical in this process since it allows you to create business contingencies by predicting future trends and optimizing your efforts to scale up.
This is made possible by the intuitive dashboard provided by Razorpay. This dashboard is elaborative, complete, data-driven, and offers analytical trends to derive conclusions.
The dashboard also aids in the evaluation of real-time data and the extraction of insights from comprehensive reports, allowing you to make more refined business decisions.
8. Reliable, safe, fraud prevention and high security
As people making purchases online are on an upward spiral, a growing need to make sure that all the information (bank/card details) they enter is safeguarded.
All the products of Razorpay, as claimed by the company, are secured by an industry-standard 100% PCI DSS compliant and certified solution. It also boasts a highly proactive team geared to provide robust security, so that no sensitive info falls into the dubious hands.
What is PCI DSS? – Developed, 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 and regulations that makes sure that every transaction is safe, and no data is lost.
9. Scale business globally by opening new revenue streams
You get a chance to create a whole new channel of acquisition and expand your business to global level with Razorpay’s International Payments!
Razorpay’s International Payments offers your company with cutting-edge payment infrastructure. Enjoy smooth payments from any region of the world with real-time currency conversion on the platform, which supports over 100 currencies!
To receive foreign payments online, you may send payment links via text messages, email, and other methods, or you can construct custom-branded Payment Pages easily.
You can integrate the Payment Gateway in minutes or provide subscription plans with automated recurring transactions to your foreign clients.
You also can send GST-compliant invoices to your international clients, complete with item-level data, and take payments using one of the numerous payment methods Razorpay provides!
10. Providing best in the industry support
You can stop worrying about explaining any payment-related issues to your clients thanks to Razorpay’s outstanding Customer Support. The company promises to take care of all of the difficulties, allowing you to better serve your clients.
Your clients spend less time on waiting and get their issues resolved quickly.
The Customer Support team of Razorpay provides live assistance to you as well as your customers – talking in-person and not bots. You have many websites that share many Razorpay payment gateway reviews to learn about its services and support system.
So, if the above 10 points satisfies you with necessary info on Razorpay of an easy, effective and safe payment gateway – click on the link below and get started. Or at least register (it’s free) and try playing around the dashboard and options available in the software before making a final decision.
