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 is the use case 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, and more.
- Access payment methods including, Cards (debit and credit) and PayNow.
- Quickly recoup 15% of your failed payments on the first attempt with seamless and intuitive retry.
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.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:
- Set up mandates, authorising the bank to deduct loan instalments automatically from their bank accounts at predefined intervals.
- Provide flexible repayment schedules based on customer preferences and loan terms.
- Automate the reconciliation of loan repayments, provide real-time visibility into payment statuses and reduce the chances of errors in financial reporting.
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