Inc42 is India’s foremost startup media and intelligence platform, reaching over 25 million tech leaders and professionals every month. Established in 2014, the platform has been a trusted voice in the startup ecosystem, delivering over 50,000 stories, 100+ research reports, and 125+ curated events. Beyond media, they accelerate India’s startup ecosystem with Inc42 BrandLabs, Datalabs, and Inc42 Plus, providing actionable insights and targeted engagement opportunities to enterprises, governments, and startup leaders.
Through its decade-long journey, Inc42 faced payment challenges like low payment success rates, limited payment options, manual reconciliation efforts, and scalability issues during high-traffic events. Razorpay’s seamless payment solutions addressed these by offering
high transaction success rates, a unified payment gateway with diverse options, automated reconciliation tools, and scalable infrastructure to handle surges, ensuring smooth and reliable payment experiences for the brand’s audience.
Scaling New Heights in Payments
As Inc42 continued to grow, the need for an efficient payment processor became increasingly important. With Razorpay’s seamless payment solutions, they were able to tackle its payment challenges head-on, leading to notable improvements in transaction success and overall user experience. Here’s how Razorpay’s payment solutions drove soaring success rates for Inc42:
- High Payment Success Rates: Razorpay delivered significantly higher transaction success rates than other payment gateways, enhancing user satisfaction. In November, they experienced an 89% success rate on UPI Intent payments.
- Revenue Uptick: Streamlined operations with Razorpay’s robust infrastructure directly contributed to 44% revenue growth across Inc42’s offerings. Razorpay’s tools ensured scalability during transaction spikes, such as during flagship events, enabling uninterrupted payment experiences.
- Granular Insights: Razorpay’s dashboard analytics empowered them to refine strategies aligned with customer payment preferences, particularly UPI, which accounts for 60% of their digital transactions.
Payment Barriers in Inc42’s Journey
Some of the payment challenges involved:
- Low Success Rates: Previous gateways failed to provide consistent transaction success rates. Moreover, they could not offer a variety of payment method options, impacting user satisfaction and causing preventable drop-offs.
- Manual Reconciliation Efforts: Tracking transaction data across multiple channels was error-prone and time-consuming.
- Scalability Issues: Their subscription-based model, along with transaction surges during conferences and report launches, strained its payment infrastructure. With UPI transactions amounting to lakhs per month processed via Razorpay, ensuring a seamless payment experience during high-demand periods was crucial for their operations.
- Integration Challenges: Expanding across multiple domains, they needed a payment gateway that could seamlessly integrate with its WordPress platform while ensuring a consistent user experience across diverse offerings.
Removing Payment Hurdles
Razorpay’s all-in-one payment suite resolved these challenges effectively:
- Unlocking New Revenue Streams: With Razorpay’s UPI Autopay Solution, Inc42 has enabled the automation of recurring payments for subscriptions, ensuring uninterrupted service.
- Boosting Success Rates: Razorpay enhanced UPI transaction success rates for them by leveraging several UPI SR boosters. UPI Intent redirected users directly to their UPI apps during checkout, reducing friction and improving success rates.
- Unified Payment Gateway: Supported multiple payment modes like UPI, net banking, cards, payment pages, and payment links, simplifying transactions for subscriptions, ticketing, and high-ticket purchases.
Automated Reconciliation Tools: Razorpay’s dashboard streamlined transaction tracking, reducing manual effort and ensuring accurate reporting on settlements.
Conclusion
The partnership between Inc42 and Razorpay highlights how a robust payment ecosystem can fuel business growth. Razorpay not only enhanced operational efficiency with its seamless integration and automated tools but also improved customer satisfaction with high success rates and reliable payment options.
By enabling scalability and offering actionable insights, Razorpay has been instrumental in Inc42’s journey to empower India’s startup ecosystem.
