Razorpay, an online payments platform, today announced the launch of ‘Express Activation’ for all offline businesses in India. The move aims to provide immediate relief to thousands of small businesses caught off guard because of the demonetization effort taken up by the government. ‘Express Activation’ will allow merchants to get their account approved and activated within 1 hour of submitting relevant documents.
With Express Activation, Razorpay will be the only payment gateway to onboard merchants in an hour. The initiative will help small merchants who have been primarily transacting through cash until now. Razorpay expects 5x growth in merchants to get onboard within the next 30 days. A lack of an alternative online payment solution is detrimental to smaller business who will be impacted the most. Razorpay’s ‘Express Activation’ will help these merchants start accepting online payments in a matter of hours.
“We’ve been inundated with queries since the demonetization announcement was made by the Prime Minister. Small businesses rely heavily on cash to carry out their day-to-day operations. Though we welcome the government’s move of banning 500 and 1000 rupee notes, we also understand the difficulties for small businesses to cope with the situation. We want to do our part in helping the nation adapt to online payments and reduce the dependency on cash transactions”, said Harshil Mathur, CEO & Co-Founder, Razorpay.
Razorpay already enables merchants with a completely online and paperless onboarding process. Razorpay’s easy to use API helps merchants integrate Razorpay with their website as fast as 30 minutes. For merchants who use e-commerce platforms like Shopify, Razorpay offers plugins for integration.
Razorpay is the second company from India to be selected by the world’s most prestigious startup accelerator Y Combinator, with over 10,000 merchants including the likes of Nykaa, Voonik, Papa John’s, Runnr, Chai Point, Nestaway, Eatfresh, etc among others.
About Razorpay
Razorpay is a payments platform for online businesses in India. Razorpay helps businesses accept online payments via Credit Card, Debit Card, Net banking and Wallets from their end customers. Razorpay is known to be a developer oriented payment gateway and focuses on essentials such as 24×7 support, one-line integration code and superior checkout experiences. Razorpay’s investors include MasterCard, Tiger Global, and Matrix Partners.
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