There was a lot we did at Razorpay this past month to improve your payment experience. In this edition of Feature Focus, we take a quick look back at what the Razorpay lab churned out – the new features, product updates and innovation that made your payments a whole lot easier.
Doing More with Payments
Pre-eligibility Check on affordability instruments with Razorpay Standard Checkout
Customers can effortlessly distinguish between eligible and ineligible payment options and can use only the eligible ones for making payments. This will improve the success rate of affordability payment options by 10-15% by eliminating transactions that would have failed due to ineligibility.
Support for international Diners and Discover cards
International Customers can now pay using Diners and Discover cards. Currencies supported are INR, GBP, CAD, and USD. There have been multiple requests from different merchants to enable this and we have delivered on it! Earlier, we only supported 3 card networks (MasterCard, VISA, Amex) on International but we have now expanded this capability to include Diners and Discover cards.
Weekly and quarterly subscriptions on UPI Autopay
Earlier, merchants were only allowed to create subscriptions with monthly/yearly frequencies on UPI. End customers were often spooked and would drop off from registrations due to a lack of trust; they were not ready to commit.
But now, merchants can create recurring payments with Weekly, Quarterly and Yearly frequencies. This leads to an improvement in conversions and success rate.
Enhancing Search and Checkout
Search on Mobile App
The new search feature aims to improve the discoverability of items on the merchant’s dashboard and empower them to solve their problems independently. Earlier, the process of exploration and finding features, settings, or information was not streamlined, leading to difficulties in addressing specific needs. Due to the lack of efficient discovery, merchants often resort to raising support tickets, seeking assistance from customer support or technical teams, even when there might be an existing solution available. The unnecessary workload on support teams is removed and merchants no longer have to worry about delays in problem resolution.
Expanding saved addresses pool for Magic Checkout on WooCommerce
A simple plugin update enables even a first-time user to have a repeat-customer like experience. Users won’t have to enter their address on Magic Checkout even if they’re using it for the first time, helping improve conversions.
That’s all for now. See you next month!
