{"id":18796,"date":"2024-10-25T17:37:53","date_gmt":"2024-10-25T12:07:53","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=18796"},"modified":"2024-10-25T17:37:53","modified_gmt":"2024-10-25T12:07:53","slug":"rupeezy-journey-with-razorpay-upi-stack","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/rupeezy-journey-with-razorpay-upi-stack\/","title":{"rendered":"Unlocking 100% UPI Dominance: Rupeezy\u2019s Journey with Razorpay UPI Stack"},"content":{"rendered":"

Rupeezy, has been a key player in India\u2019s 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 <\/span>50,000 transactions processed through UPI monthly<\/b>, Rupeezy required a payment partner capable of managing the scale while delivering a reliable payment success rate.\u00a0<\/span><\/p>\n

Here\u2019s when Razorpay\u2019s UPI Stack came to the rescue!<\/span><\/p>\n

The ease of integration, TPV (Third-Party Validation) support, and Razorpay\u2019s UPI stack played a pivotal role in boosting their payment success rate (SR) by 2.03%, ultimately contributing \u20b957.8 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\u2019s story is a testament to how Razorpay\u2019s UPI Stack transformed their payment operations, providing a solid foundation for future growth\u2014particularly as they expanded into mutual funds.<\/span><\/p>\n

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The Hurdle? Navigating Complex Payment Flows<\/b><\/h4>\n

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.<\/span><\/p>\n

For Rupeezy, this meant:<\/span><\/p>\n

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  1. Bank Support and Integration<\/b><\/li>\n<\/ol>\n

    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\u2019s TPV guidelines.<\/span><\/p>\n

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    1. Complex Payment Flows<\/b><\/li>\n<\/ol>\n

      Mutual fund payments added another layer of complexity. Payments in mutual fund transactions do not flow directly into Rupeezy\u2019s bank accounts but must pass through a third party\u2019s 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\u2019s TPV regulations added complexity to the integration process.<\/span><\/p>\n

      The Answer? Razorpay\u2019s UPI Stack\u00a0<\/b><\/h4>\n

      Razorpay\u2019s UPI Stack was the game-changer Rupeezy needed. By addressing these challenges through Razorpay\u2019s UPI Stack and <\/span>TPV support<\/span><\/a>, Rupeezy could ensure seamless, reliable, and compliant payments across a variety of banking networks. Here\u2019s what worked for Rupeezy<\/span>:<\/b><\/p>\n