LeapScholar, a trailblazer in guiding students from India and the Middle East toward their study-abroad dreams, has revolutionized personalized education through its comprehensive services. With a growing student base and a hefty amount of payments flowing through UPI, a flawless payment experience became essential. However, challenges such as transaction failures and manual inefficiencies plagued its operations and presented problems while scaling.
Razorpay stepped in and addressed these hurdles, streamlining payment processes and enhancing UPI reliability. By optimizing transactions and reducing drop-offs, Razorpay enabled LeapScholar to scale effectively while maintaining its commitment to empowering students worldwide.
Payment Challenges Faced by LeapScholar
LeapScholar’s mission to simplify education processes and serve a global student base came with significant payment-related hurdles:
- Payment Failures on UPI Transactions
With 90% of customers opting for UPI as their preferred payment method, LeapScholar needed a robust system capable of handling a high volume of UPI transactions. Ensuring reliability and minimizing transaction failures in such a high-dependency environment was a critical challenge. - Manual Processes Leading to Drop-offs
Payment workflows that required manual input, such as entering payment details or UPI IDs, often led to errors and delays. These inefficiencies disrupted the checkout experience and increased the likelihood of users abandoning their transactions. - Missed Opportunities for Payment Optimization
A lack of advanced optimization tools turned every transaction into a gamble. With no mechanisms to ensure seamless processing or tackle failures proactively, LeapScholar faced recurring payment inconsistencies—eroding user trust and leaving revenue unrealized.
How Razorpay Bridged the Gap
With the challenges in payment processing weighing heavily on LeapScholar’s growth, Razorpay stepped in to provide the seamless, scalable solution needed to power its expanding operations:
- Enhanced UPI Reliability
Razorpay’s Dynamic Routing optimized UPI transactions by directing payments through the most efficient gateways in real-time. This minimized gateway-related failures. - Transactions without Redirections
The UPI Native Intent feature eliminated the need to redirect users to third-party pages during payments. Instead, students could complete transactions directly within LeapScholar’s app or website. This integration reduced errors and delays ensuring a faster checkout experience. - Removed Manual Input Processes
Razorpay’s UPI Number for Collect Payments replaced the manual entry of Virtual Payment Addresses (VPAs) by associating users’ phone numbers with their UPI IDs automatically. This reduced manual input errors. - Seamless Payments on Desktop with QR Codes
For students using the LeapScholar website on their desktop, Razorpay implemented Dynamic QR codes. Students could scan the QR code displayed on the screen using their mobile devices to complete UPI payments instantly.
Ruling Out All Payment Errors
After addressing the challenges hindering LeapScholar’s growth, Razorpay’s solutions significantly enhanced the payment experience:
- Increased payment success rates by 3.76%, optimizing UPI transactions with Razorpay’s Dynamic Routing, UPI Native Intent, UPI Number, and Dynamic QR. These innovations reduced transaction failures, minimized manual input errors, and streamlined the payment process for students.
- Drove a significant GMV growth of ₹3.68L <insert timeline for growth: in a month, in a year>, etc. by addressing pain points such as high failure rates and inefficient payment workflows, resulting in a smoother payment experience that empowered students and improved LeapScholar’s overall operational efficiency.
Conclusion
Razorpay’s innovative payment solutions helped LeapScholar overcome key payment challenges, driving growth and enhancing the student experience. By optimizing UPI transactions and streamlining processes, Razorpay enabled LeapScholar to boost revenue and scale its operations, supporting its mission to empower students and simplify the journey to higher education abroad.
