Razorpay Launches Online Payment Solution 'Payment Pages'
Digital payment firm Razorpay has launched Payment Pages, a payment solution that requires zero integration and minimum set-up and allows all kinds of businesses accept online payments without any hosting costs, maintenance charges or fixed fees.
The company opines that SMEs, India's biggest business units, account for 30% of the country’s GDP. However, 68% of these small and mid-sized businesses do not have any web presence, especially in Tier 2 & 3 cities. Considering the fact that consumers today expect to pay for products and services online through default modes such as Cards and UPI, it is imperative for businesses to be technologically enabled to accommodate them.
Offering online payments to customers especially in the absence of a website or mobile app can be a long daunting process, requiring time and resources that many small businesses cannot afford.
Razorpay Payment Pages is designed to address this pertinent need by helping businesses create a payment page in less than five minutes and go live without any customer support. Some businesses, sometimes, seek to collect payments for a one-time campaign where a separate integration could be cumbersome and time-consuming; Razorpay Payment Pages helps launch a customised page in minutes with a shareable link for multiple use.
Shashank Kumar, CTO & Co-Founder, Razorpay says, “At Razorpay, our aim is to consistently marry intelligent technology solutions with the payment needs of businesses to deliver a sound, cohesive and comprehensive payment experience. Payment Pages is one such product. It is custom made to enable smaller businesses and underserved sectors embrace digital payments with no technical effort at all. We have been receiving some great feedback from our existing merchants who are using Payment Pages, and we predict a 10X growth in this number by the end of 2019.”
Razorpay Payment Pages will be launched for fee collection at educational institutes, by event organisers, utility companies for bill payments, for not-for-profit organisations and campaigns, for insurance premium collections and for online donations in case of any natural calamities. In its beta version, over 700 businesses started using Razorpay Payment Pages, a few of them are Schindler, Swiggy, Don Bosco School, BMW Financial Services, Nestaway and, Testbook and FinanceBazaar, among others.