The Razorpay Trusted Business Badge is an exclusive offering available only to our most reliable merchants and therefore has eligibility criteria. The badge assures customers that the business is genuine, which means they can shop confidently since the business has gone through extensive checks, so it will provide the products and services it promises.
The badge bridges the gap between new customers and payment-related hurdles like shopping cart abandonment, drop-offs due to the fear of paying online, lack of trust due to less awareness about the brand, etc.
Razorpay Trusted Business Badge shows that the business is safe and secure to transact with and order from and lets visitors know that your site is one they can trust.
So what are the eligibility criteria?
To be eligible, you must first be live with Razorpay’s Payment Gateway standard checkout as a registered business. A business can then qualify for the Razorpay Trusted Business Badge by having an excellent track record of solving customer escalations proactively, acting upon any disputes for your customers as soon they arise, and passing our other proprietary risk checks.
We keep on evaluating businesses every few weeks based on the following criteria:
- Business needs to complete the KYC verification, where they have to provide and update information like contact details, business details, account details, and other business documents
- Business should fall under the “registered business” category, and should successfully pass Razorpay’s proprietary risk checks
- Businesses should consistently deliver excellent customer service by resolving escalations and disputes
- Businesses should have spent significant time with Razorpay and accepted payments online consistently via Razorpay’s Payment Gateway
Benefits of Razorpay Trusted Business Badge
- More than 20% of customers abandon their shopping carts owing to trust and other security concerns. The badge enforces trust and re-assures the end-user that they can safely transact from your brand, and so helps in increasing conversion and retention by up to 5% on the payment page
- Your Razorpay Trusted Business Badge will start appearing automatically on your Razorpay-powered checkout pages without any setups, integrations, or development effort
- Stand out from your competition and give your customers the extra assurance of safety and security with the Trusted Business Badge trust marker
- Your customers will see the badge on your checkout page and be reassured that they can safely transact with your brand without any hesitation. This will help reduce the COD (cash on delivery) share and boost the percentage of online payments
When people trust your business, it makes it easier for them to shop from you. People are more likely to become your loyal customers and refer other people to you if they trust that you provide all the promised services.
The Razorpay Trusted Business Badge helps to inculcate trust in the minds of consumers, which encourages them to transact with a business. This badge also allows businesses to increase payment conversion rates by reassuring potential customers that they are reliable to do business with. Earn the trust and gain customers. You can join the waitlist here.