As the global economy bounces back into action, the next phase of growth in digital commerce will come from traditional businesses going online. In recent years, products and services that provide this transformation have seen a significant rise in demand. Products like Khatabook, Vyapar, Teachmint, Meesho, and a host of other products are already transforming the landscape and helping MSMEs and entrepreneurs go digital easily.
However, the main challenge with this rapid surge is to build products for users who are not conversant with technology. This means creating products that simplify the entire customer journey, right from onboarding them to retain them. Not building products catering to their needs or retro-fitting products built for the digitally advanced market does not always work.
That’s why, product builders need to focus on building an intuitive interface, simplifying the user journey, and, reducing friction points inside the product. At Razorpay, we work with our partners and customers to develop products that are hyper-focused on providing the best user experience. To that end, we bring you Razorpay’s Merchant Onboarding APIs, the simplest way to get your customers to start accepting payments from right inside your product.
Introducing Razorpay’s Onboarding APIs
With our Onboarding APIs, you can make payment gateway onboarding native to your product. Delight your customers by eliminating context switching to deliver a fantastic payment onboarding experience.
Add Razorpay payment gateway’s onboarding experience to your product and let your users quickly begin their journey to online payments. Make the entire experience seamless for your customers and:
- Reduce drop-offs in online payment activation for your customers.
- Increase customer satisfaction.
- Get visibility and control over customer onboarding to payment gateway.
- Eliminate the manual effort in collecting onboarding documents.
How can Onboarding APIs Improve Your Product’s User Experience?
Let us cover some use-cases to see how Onboarding APIs help businesses across industries:
Offline to online retail: Meri Dukaan is an online platform that helps offline retailers catalogue their products online and manage their payments.
Challenge: In order to manage its retailers’ online payments, Meri Dukaan requires payment gateway services. It also wants a smooth sign-up experience for its users who are not tech-savvy.
Solution: Meri Dukaan can seamlessly integrate Razorpay’s onboarding and registration for payment gateway onto their platform with Razorpay’s Onboarding API. Its customers can now sign up using Meri Dukaan’s sign-up flow. At the back end, Meri Dukaan sends this data to Razorpay using APIs and opens their Razorpay accounts, hence, seamlessly setting up their online payments.
Transforming Business Operations for SMEs: A next-gen online ERP platform called ERP Guru helps its clients manage their orders, invoices, and payment receipts all in one place.
Challenge: ERP Guru offers its customers the next generation of ERP solutions by integrating Razorpay’s Payments Links and Payment Pages to accept payments based on the invoices. In short, ERP Guru aims to improve its end-to-end lifecycle management.
Now, to hook users onto ERP Guru, the founders want to provide a seamless experience to their customers. Complex technology and regulations make managing digital payments, and opening accounts, a cumbersome process. Hence, ERP Guru needs a payments partner which can seamlessly integrate into their platform.
Solution – ERP Guru collects client information while signing them up on their platform. They then send it to Razorpay using onboarding APIs to register and create their accounts and activate Razorpay’s industry-leading payments products. The user gets a smooth onboarding experience, while ERP Guru can provide best-in-class features straight out of their platform.
Enabling tutors to go digital: Industry-Leading EdTech platform TeachMe has seen tremendous growth after the Covid breakout. TeachMe is on a mission to democratize online teaching for tutors and students.
Challenge: TeachMe offers a platform for individual tutors to start teaching online. These tutors expect TeachMe to transfer fees to their accounts after deducting commissions directly. TeachMe is looking to automate the entire process.
Solution – TeachMe can seamlessly onboard its tutors to Razorpay’s Payment Gateway and collect all the required information during sign-up, and pass this information to Razorpay via Onboarding APIs. That’s how TeachMe enables its tutors to accept payments (fees) directly to their bank account and automatically deduct its platform fees on every transaction seamlessly.
We have developed Onboarding APIs, working closely with our beta partners. The co-creation model guided us to build:
– Easy to integrate APIs.
– Documentation to guide through the implementation.
– and, Provide priority support to partners
Blog Contributor: Abhinav Garg, PM, Partnerships, Razorpay