This is an update regarding what we've been up to at Razorpay. This tiny newsletter will talk about the various changes in our API, Dashboard and operations in general. Thanks for signing up with Razorpay, and as always, you can reach out to us at contact@razorpay.com for any queries (or just reply to this email).
Pricing Update
We are dropping our 2.5% pricing plan. If you were on the 2.5% plan, we have automatically migrated you to the 2% plan. We have also dropped the annual charges associated with the 2% plan, the only plan we offer now. If you were already on the 2% plan, your setup fees will be automatically refunded to your account.
We have changed our service tax rates to 14.5% in compliance with recent notice from the Government on the Swachh Bharat cess.
Feature Updates
- The dashboard now displays settlement fees for every settlement
- We are sending out authorization reminders to every merchant for any payment that remains in authorized state for 2-4 days. The payment is subsequently auto-refunded after 5 days.
- Our onboarding process has been made easier and we ask for fewer documents to be uploaded.
- You can now customize the checkout experience by using a matching color theme on our form. See the documentation here
- We are rolling out a beta release of our Webhooks feature soon. Let us know if you would be interesting in joining the beta.
Android SDK
We have released v0.9.1 of our Android SDK. It includes some of our flagship features which were previously in beta:
Automatic OTP Reading. Detailed error logging with significantly reduced issues Simpler integration process
If you are using an older version of our SDK, it is highly recommended to upgrade to the latest. The documentation is available at https://razorpay.com/docs/
We have also released a sample android app in the Play Store, and the source code for it is open source on GitHub.
Funding
We announced our funding round recently. We are delighted to announce that we have closed our Series A and Seed round with a cumulative total of $11.5 million. Our Series A was led by Tiger Global with participation from Matrix Partners. You can find more details at our blog post.
In news, we were covered by Tech in Asia, YourStory and were on the Product Hunt home page as well.
Events
We are sponsoring the Techcircle Startup Conference at Mumbai. Dates are 16-17th December. Alongside, a few of us will be present at DroidCon Bangalore.
Team Razorpay