Banking, Financial Services & Insurance
Explore Razorpay's BFSI solutions to streamline transactions and enhance security with seamless integration and real-time analytics for superior service and growth.
Razorpay provides comprehensive payment solutions that solve unique challenges across the lending, wealth management, and insurance sectors. Following are the use cases and recommended products.
Payment failures in financial services can result in significant revenue loss, with over 50% of customers dropping off if payments fail on the first attempt. Our suite of intelligent features is built to address this and provide best-in-class success rates. Following are the recommended products:
- Integrate with a wide coverage of SDKs and plugins for popular marketplaces like Shopify, WooCommerce, Magento, and more.
- Access 100+ payment methods including UPI, Cards (debit and credit), EMI, Netbanking, International Payments, Wallet, Pay Later, and more.
- Quickly recoup 15% of your failed payments on the first attempt with seamless and intuitive retry.
Third-Party Validation (TPV) of bank accounts is a mandatory requirement for businesses in the BFSI sector dealing with securities, broking and mutual funds. Following are the recommended products:
- One-Click Retry on Razorpay Checkout.
- Methods Available: UPI, Debit Card and Netbanking.
Recurring revenues are core to financial services, including insurance premiums, SIPs, and loan repayments. With Razorpay, you can offer easy and tailor-made subscription plans to your customers through a platform built for automation. Following are the recommended products:
- Register customers for SIP payments via E-mandate/Paper NACH.
- Set up mandates for lump sum payments with first-time registration.
- Facilitate mandate migration.
Financial companies face complex cash flows where money is collected from multiple sources and routed to various accounts - customers, investors, vendors, and service providers. Following are the recommended products:
- Split payments as per the broking index (NSE, BSE, MCX, and more).
- Distribute payments according to MF scheme bank accounts.
Businesses often have large bank accounts across multiple banks, and transactions are carried out based on balance, limits, and nature of disbursement. Following is the recommended product:
- Manage and reconcile transactions across multiple accounts through a single Dashboard.
Businesses often have large bank accounts across multiple banks, and transactions are carried out based on balance, limits, and nature of disbursement. Following is the recommended product:
- Create individual or bulk payouts to process hundreds of transactions at once.
- Make payouts to bank accounts, debit cards, credit cards, or prepaid cards.
- Schedule payouts in advance for future disbursements.
Financial and insurance companies can streamline their payroll processes by using RazorpayX Payroll to automate employee salary disbursements. Following is the recommended product:
- Accurately calculate and disburse salaries automatically.
- Directly deposit into employees' bank accounts without manual intervention.
- Calculate and deposit taxes and file returns.
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