Rupeezy, has been a key player in India’s stock brokerage space since 2002. Offering a broad range of services, from mutual funds to intra-day trading and derivatives, Rupeezy needed a payment partner who could handle the complexities of financial transactions. With over 50,000 transactions processed through UPI monthly, Rupeezy required a payment partner capable of managing the scale while delivering a reliable payment success rate.
Here’s when Razorpay’s UPI Stack came to the rescue!
The ease of integration, TPV (Third-Party Validation) support, and Razorpay’s UPI stack played a pivotal role in boosting their payment success rate (SR) by 2.03%, ultimately contributing ₹57.8 lakhs in additional revenue through UPI. This transition also allowed Rupeezy to fully use UPI for 100% of their payment transactions, driving consistent success and efficiency. Rupeezy’s story is a testament to how Razorpay’s UPI Stack transformed their payment operations, providing a solid foundation for future growth—particularly as they expanded into mutual funds.
The Hurdle? Navigating Complex Payment Flows
As a financial services provider operating in the highly regulated BFSI (Banking, Financial Services, and Insurance) sector, Rupeezy faced a unique set of challenges. SEBI requires every transaction initiated by a customer must be made from their registered bank account. This means Rupeezy had to ensure that only accounts validated and pre-registered during the customer’s onboarding process could be used for payments. TPV is mandatory in the financial services sector to avoid fraudulent transactions and ensure the security of customer funds.
For Rupeezy, this meant:
- Bank Support and Integration
They needed to integrate with a wide range of banks across India to ensure that their customers, no matter which bank they were using, could make payments seamlessly. Rupeezy also had to guarantee that these payments were processed only from registered accounts, which required a reliable system to verify each transaction’s compliance with SEBI’s TPV guidelines.
- Complex Payment Flows
Mutual fund payments added another layer of complexity. Payments in mutual fund transactions do not flow directly into Rupeezy’s bank accounts but must pass through a third party’s bank before being routed to the designated destination (for example, an asset management company or the National Stock Exchange). Ensuring that each payment was correctly routed while adhering to SEBI’s TPV regulations added complexity to the integration process.
The Answer? Razorpay’s UPI Stack
Razorpay’s UPI Stack was the game-changer Rupeezy needed. By addressing these challenges through Razorpay’s UPI Stack and TPV support, Rupeezy could ensure seamless, reliable, and compliant payments across a variety of banking networks. Here’s what worked for Rupeezy:
- Seamless UPI Integration
Rupeezy adopted Razorpay’s UPI Intent and Collect solutions, with UPI Intent accounting for the majority. The ease of integration with Razorpay’s UPI meant Rupeezy didn’t have to worry about missing bank support or broken payment flows.
- Dynamic Routing for Higher SR
With Razorpay’s Dynamic Routing, Rupeezy saw a 2% increase in success rates. The solution automatically routed payments through the most efficient gateways, even during downtimes, boosting revenue by ₹57 lakhs.
- Third-Party Validation Support
Razorpay’s wide network of supported banks ensured that Rupeezy complied with SEBI’s TPV requirements without experiencing payment issues, maintaining smooth financial operations.
Conclusion: A Trusted Partnership for the Future
Rupeezy’s success story with Razorpay is a testament to the power of seamless integration and reliable payment systems. With UPI at the forefront, Razorpay has enabled Rupeezy to scale their operations effortlessly, ensuring high success rates and compliance with industry standards. As Rupeezy continues to grow, particularly in the mutual funds sector, their partnership with Razorpay remains essential to delivering efficient and secure financial services.
