{"id":18811,"date":"2024-10-28T17:59:14","date_gmt":"2024-10-28T12:29:14","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=18811"},"modified":"2025-05-05T17:22:35","modified_gmt":"2025-05-05T11:52:35","slug":"fueling-iim-udaipurs-payment-success","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/fueling-iim-udaipurs-payment-success\/","title":{"rendered":"Fueling IIM Udaipur\u2019s Payment Success with Razorpay\u2019s Streamlined Solutions"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Established in 2011, IIM Udaipur has quickly grown into one of the country\u2019s fastest-rising management schools. It is dedicated to thought leadership and delivering values-based education that inspires ethical and impactful leadership. At <a href=\"https:\/\/www.iimu.ac.in\/\" rel=\"nofollow noopener\" target=\"_blank\">IIM Udaipur<\/a>, everything from application fees and enrollment fees to registrations and other payments is managed online through an integrated ERP platform. For a rapidly growing institution like IIM Udaipur, ensuring a smooth and efficient payment experience is crucial. That\u2019s why they chose Razorpay\u2014to provide a seamless, hassle-free solution that prioritizes customer convenience and enhances the overall experience for students and staff alike.<\/span><\/p>\n<h2><b>With Razorpay, IIM Udaipur saw\u00a0<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><b>Transaction counts rise by 3.1%<\/b><span style=\"font-weight: 400;\"> from 2022 to 2023, and by <\/span><b>4.2% <\/b><span style=\"font-weight: 400;\">from 2023 to October 2024.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>GMV increase by 7.1%<\/b><span style=\"font-weight: 400;\"> during the 2022-23 period.<\/span><\/li>\n<\/ul>\n<h2><b><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-18812 size-full\" src=\"https:\/\/d6xcmfyh68wv8.cloudfront.net\/blog-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final.png\" alt=\"IIM Udaipur Quote\" width=\"2400\" height=\"1200\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final.png 2400w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final-300x150.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final-1024x512.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final-768x384.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final-1536x768.png 1536w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2024\/10\/Quote-IIM-Udaipur-Final-2048x1024.png 2048w\" sizes=\"auto, (max-width: 2400px) 100vw, 2400px\" \/><\/b><b>Ensuring Safe and Seamless Transactions<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Trust was a fundamental factor for IIM Udaipur, a rapidly growing institution that wanted students and staff to feel confident in the payment process and assured that they were in a secure ecosystem. With a large volume of payments, especially during peak periods of intake processing\u2014when fresh applications, installment fees, and initial payments are high\u2014ensuring a seamless, trustworthy experience was critical. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The institution understood the growing concerns about fraud and was determined to avoid any risks that could compromise the user experience. Redirecting users to an external domain during payment could lead to suspicion and hesitation, so it was essential to keep the payment process within the same secure domain. This focus on trust and security was key to delivering a smooth and reliable payment journey for everyone involved.<\/span><\/p>\n<h2><b>Tackling Payment Hurdles<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Given the challenges they faced, IIM Udaipur chose to integrate the IIMU ERP platform with Razorpay as their trusted payment partner, drawn by its reputation for reliability and robust security. Razorpay&#8217;s proven track record and integration capabilities addressed their concerns and provided the seamless payment experience they needed. IIM Udaipur has effectively utilized Razorpay for a wide range of payments, including new admissions and various student services. With Razorpay&#8217;s robust features, the institution has managed to swiftly trace and resolve the few instances of payment failures, typically caused by customer-side issues, ensuring a minimal turnaround time.\u00a0 Razorpay\u2019s dedicated support team has been instrumental in resolving any issues quickly and efficiently, ensuring smooth transactions every time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">IIM Udaipur has integrated <strong>Razorpay&#8217;s &#8216;Smart Collect&#8217;<\/strong> feature as a key channel for its major fund inflows. This integration allows third-party educational loan providers to directly remit term fee payments into IIMU&#8217;s bank account.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simultaneously, students can track the remittance status in near real-time, as the student ledgers in the IIMU accounting system are automatically updated. The process reengineering, supported by Razorpay&#8217;s features and settings, has streamlined fee collection and eliminated <a href=\"https:\/\/razorpay.com\/learn\/what-is-reconciliation\/\">reconciliation<\/a> efforts for student fee payments in the accounting records.<\/span><\/p>\n<h2><b>The Impact Numbers<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The institution\u2019s efforts to maintain a seamless, secure payment process paid off, as evidenced by its impressive growth metrics. Transaction counts rose by<\/span><b> 3.1%<\/b><span style=\"font-weight: 400;\"> from 2022 to 2023, followed by a further increase of <\/span><b>4.2%<\/b><span style=\"font-weight: 400;\"> from 2023 to October 2024. Additionally, the institution saw a <\/span><b>7.1% rise in GMV<\/b><span style=\"font-weight: 400;\"> during the 2022-23 period.\u00a0<\/span><\/p>\n<h2><b>Ensuring Reliability<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Razorpay has provided IIM Udaipur with a secure and seamless payment solution that has helped the institution manage high volumes of transactions efficiently. By addressing concerns around trust and security, Razorpay has allowed IIM Udaipur to focus on its core mission without worrying about payment issues. This experience, combined with Razorpay&#8217;s array of functionalities, such as <a href=\"https:\/\/razorpay.com\/payment-links\/\">payment links<\/a> and payment pages, has inspired IIM Udaipur to expand its use of the platform to manage collections and track payments for institute events and conferences. For a growing institution like IIM Udaipur, Razorpay has been a reliable partner that ensures a smooth experience.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Established in 2011, IIM Udaipur has quickly grown into one of the country\u2019s fastest-rising management schools. It is dedicated to thought leadership and delivering values-based education that inspires ethical and impactful leadership. At IIM Udaipur, everything from application fees and enrollment fees to registrations and other payments is managed online through an integrated ERP platform.<\/p>\n","protected":false},"author":142,"featured_media":18813,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26,369],"tags":[782,214,183],"class_list":{"0":"post-18811","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments","8":"category-international-payments","9":"tag-iim-udaipur","10":"tag-international-payments","11":"tag-razorpay"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/18811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/142"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=18811"}],"version-history":[{"count":7,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/18811\/revisions"}],"predecessor-version":[{"id":22438,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/18811\/revisions\/22438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/18813"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=18811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=18811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=18811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}