We’ve been cooking up some serious magic to make every aspect of your payments simpler, swifter and smarter. In this edition of Feature Focus, let’s take a quick look at some of the latest features, product updates, and innovations that are designed to collectively streamline and simplify your payment processes.
Curious?
Let’s find out!
Elevate Your Payments Infrastructure
Custom Payments Routing: With Razorpay Optimizer businesses can now effortlessly route transactions through multiple gateways with a single integration. Set rules, establish priorities, and reduce processing costs, all while ensuring a higher payment success rate of up to 10% and save on operational costs by up to 30%. And with every rule you set on Optimizer you can also add your preference for gateway priority, which will be used if the higher priority gateway is facing any downtime or service degradation.
Recurring Payments Refined: With OCI 125 you can now bid farewell to customer-initiated cancellations on UPI autopay mandates. Now, mandates are shielded, requiring customers to reach out directly with merchants for cancellations. This enhancement ensures uninterrupted auto-pay mandates, providing businesses with enhanced control and reliability in their recurring transactions.
Cross-Border Confidence: We’ve always been committed to making payments simpler and easier. The introduction of internal FIRS on the dashboard is yet another step in this direction. Businesses can now access on-demand, automated Internal FIRS on the dashboard, complete with Razorpay’s letterhead. This feature eliminates the anxiety of compliance, offering seamless management of Cross-Border payments and ensuring your focus remains on expanding your global reach.
Provide Your Customers a Stellar Payment Experience
CVV Less Payments: With CVV-less payments on tokenized cards, you can enjoy a 3% boost in payment success rates. And, your customers can say goodbye to the hassle of entering CVVs, streamlining the payment process and enhancing their overall experience. This latest feature has enabled a 3% surge in Swiggy’s payment success rates, setting the stage for a new era of frictionless transactions.
Auto-fill OTP on Cards: Taking convenience to a new height we’ve also introduced Auto-fill OTP on Cards. Now, for all Android devices, Razorpay automatically reads, fills, and submits OTPs for card transactions and Razorpay logins. This enhancement transforms payments into a seamless experience, reducing the manual effort required.
And with these features, we wrap-up an exciting November. But there’s way more to come and we can’t wait to share them with you next month!
