With a history spanning over a century, Kansai Nerolac stands as one of India’s most trusted and prominent paint companies. Founded in 1920 as Gahagan Paints and Varnish in Mumbai, it has evolved into a household name, securing its place among the top three paint companies in India by overall sales.
Nerolac caters to two primary segments: decorative paints (B2C), adding vibrancy to homes and spaces, and industrial paints (B2B), where it commands market leadership. In fact, an impressive six out of ten cars in India are painted by Nerolac.
However, the paint industry in India remains deeply traditional, with many dealers relying on decades-old practices such as cash and cheque payments. These dealers, often in the business for over 50 years, are hesitant to shift to digital solutions despite their clear advantages. This is where Razorpay steps in—to simplify Nerolac’s digital journey and accelerate a faster adoption of digital payment solutions.
A Fresh Coat of Digital
As Nerolac continues to evolve, the decorative segment has taken strides in adopting digital payments. What started with just 100 dealers signing up for digital payments has now grown to around 450 dealers embracing online transactions. This shift in mindset is largely driven by the younger generation of dealers taking over the business, eager to streamline processes and improve cash flow.
Nerolac has actively worked to educate its dealers, highlighting how digital payments can ease working capital, expedite orders, and optimize inventory management. While UPI has become the preferred payment method for most dealers, credit cards are still rare in the paint industry, and net banking remains minimal, with larger dealers being the exception.
Despite these encouraging signs, the industry as a whole remains quite traditional, particularly in the industrial segment, where the old-school habit of cheque payments persists. Many dealers in this space believe they can save money by holding onto payments for a few extra days, overlooking the potential sales lost during that time.
With the goal of accelerating this transition, Nerolac sought a payment gateway that could cater to the unique needs of their dealer network, providing a solution that bridges the gap between tradition and digital transformation.
Coloring Outside the Lines
When Nerolac onboarded a payment gateway, the company focused on service quality, terms, and market acceptability, ensuring they selected a solution that was not only reliable but also highly regarded. Razorpay stood out as the ideal choice, offering excellent service, favorable terms, and a strong market presence backed by a reputable client base that inspired confidence.
Nerolac required a payment solution that could streamline processes for their sales team, making transactions faster and more efficient. They envisioned a user-friendly system where sales representatives could share payment links with customers, enabling immediate payments that would reflect instantly. Razorpay turned this vision into reality, simplifying payment workflows and enhancing operational efficiency.
With Razorpay’s prompt and dependable service, Nerolac eliminated the need to manage multiple portals, offering a seamless and straightforward experience for their customers. Razorpay’s extensive bank partnerships ensured smooth and hassle-free transactions, while its excellent service quality, efficient problem resolution, and easy integration further solidified its position as the perfect partner for Nerolac’s digital transformation journey.
By bridging the gap between tradition and innovation, Razorpay continues to empower Nerolac to simplify processes and embrace digital payments with confidence.
Priming Payments for a Digital Makeover
As digital payments continue to play an increasingly important role in business transactions, Razorpay will remain a trusted partner for Nerolac, supporting their ongoing digital transformation. With its reliable service, smooth integration, and commitment to innovation, Razorpay will help Nerolac further simplify processes, increase adoption, and thrive in an evolving market.
