{"id":5698,"date":"2021-04-15T10:37:52","date_gmt":"2021-04-15T05:07:52","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=5698"},"modified":"2021-06-23T16:18:10","modified_gmt":"2021-06-23T10:48:10","slug":"covid-era-of-rising-fintech-how-small-businesses-are-starting-to-win-again-razorpay-report","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/covid-era-of-rising-fintech-how-small-businesses-are-starting-to-win-again-razorpay-report\/","title":{"rendered":"The (COVID) Era of Rising FinTech: How Small Businesses are Starting to Win Again!"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">2020 was a year of extremes for everyone across the globe. With a global health crisis and extreme economic uncertainty, it was for the world at large, a difficult year to navigate. While businesses across the world suffered from the impact of the pandemic, the unwavering spirit shown by small Indian businesses to rise up and thrive amid the challenges stood out as a highlight. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The pandemic has challenged how small and medium businesses (SMBs) in India have traditionally operated, and the challenges gave rise to a new wave of innovation and adaptability. We, at Razorpay, had a ringside view of many such inspiring stories, where small businesses (SMBs) from across the length and breadth of India did not just adapt to the new normal, but actually excelled beyond compare.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This financial revolution was not limited to one sector alone but was seen across. Whether it be offline restaurants adapting to online food delivery, or pharmacies going online, or an artisan discovering a global audience online &#8211; small businesses discovered the power of going digital and at the same time became aware of digital payments becoming a necessity now than a convenience.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At Razorpay, we will continue to empower SMBs to ride through this wave by not just enabling businesses with a payment infrastructure that will provide their consumers with the convenience of transacting online but digital payments will help ride the wave for their economic recovery.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With that, I am happy to announce the 8th edition of the much-awaited \u2018<\/span><b>The Era of Rising FinTech report\u2019.<\/b><span style=\"font-weight: 400;\"> The trends definitely indicate that small businesses are making a comeback and digital payments have been at the centre of the transformation. <\/span><\/p>\n<p><b><i>All findings in this report are based on transactions held on the Razorpay platform between March\u2019 2020 and March\u2019 2021.<\/i><\/b><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5704 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-1-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-1-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-1-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-1-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-1-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-1.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5705 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-2-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-2-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-2-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-2-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-2-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-2.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5706 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-3-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-3-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-3-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-3-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-3-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-3.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5707 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-4-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-4-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-4-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-4-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-4-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-4.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5708 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-5-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-5-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-5-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-5-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-5-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-5.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5709 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-6-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-6-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-6-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-6-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-6-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-6.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/> <img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5710 size-large\" src=\"https:\/\/razorpay.com\/blog-content\/uploads\/2021\/04\/A4-7-724x1024.png\" alt=\"the era of rising fintech - Razorpay report \" width=\"724\" height=\"1024\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-7-724x1024.png 724w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-7-212x300.png 212w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-7-768x1087.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-7-1086x1536.png 1086w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2021\/04\/A4-7.png 1425w\" sizes=\"auto, (max-width: 724px) 100vw, 724px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>2020 was a year of extremes for everyone across the globe. With a global health crisis and extreme economic uncertainty, it was for the world at large, a difficult year to navigate. While businesses across the world suffered from the impact of the pandemic, the unwavering spirit shown by small Indian businesses to rise up<\/p>\n","protected":false},"author":63,"featured_media":5703,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[51],"class_list":{"0":"post-5698","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments","8":"tag-payments"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/5698","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\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=5698"}],"version-history":[{"count":0,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/5698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/5703"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=5698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=5698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=5698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}