Aims to onboard 10,000 businesses in the next three months
Bengaluru, 11th August 2020: Empowering Startups to accept payments on their own website, Razorpay, the leading full-stack financial services company, today launched Payment Buttons. Payment button enables businesses and freelancers to add a single line of code on their website or blog and go live with an integrated payment gateway, in less than 5 minutes.
Amid salary cuts, layoffs and downsizing of businesses in this Covid-era, a new set of micro-entrepreneurs – including freelancers and individual-run businesses are on the rise. In the last 5 months of the lockdown, Razorpay witnessed a 30% month-on-month growth in payments from micro-entrepreneurs. Having spoken to over 200 Startups & Freelancers during Covid, Razorpay found that this underserved business community needs a customised payment solution which is easy and fast to implement, requiring no technology expertise or dependence on third party vendors for receiving payments. This led to the launch of Razorpay Payment Buttons – a platform which converts the capabilities of a full-stack payment gateway into a payment button, requiring no developer support and giving end-users a simple, fast and secure checkout experience.
In addition, Razorpay’s Payment Buttons will enable new growth avenues for the micro-entrepreneur community by supporting 100+ currencies for international payments. The product helps businesses to send automated receipts to customers without any manual intervention and is compatible with leading website builders and content management tools.
Commenting on the launch, Shashank Kumar CTO & Co-Founder of Razorpay said, “The current situation has got all businesses feeling the pain to varying degrees, but it’s independent businesses that are hurting the most. At Razorpay, one of our immediate priorities is to help Startups and freelancers weather this storm with intelligent payment solutions to build a more resilient business. Solutions such as Payment Buttons empower startups and freelancers to focus on their business and their customers and not worry about having a digital presence and accepting money without integrating a payment gateway. We want to be their growth partner especially in these tough times and so we will continue to deliver new and compelling payment solutions that will meet the increasing digital, 24×7 demands of businesses and their customers. We’re excited to see businesses, freelancers and homepreneurs leverage this solution and scale their business in India and across the globe. We predict a 10x growth in demand for Payment Buttons by the end of 2020”
Deepak Kanakaraju, Founder and CEO of DigitalDeepak and PixekTrack said, “It took less than 5 minutes to add a button on our website. Since then we have seen a definite upswing in our conversion numbers. Having a digital presence is more important than ever, I believe micro-entrepreneurs and everyone who is starting their own business will definitely stand to reap the benefits of a product like Payment Buttons.”
Razorpay’s Payment Buttons provide businesses the flexibility of accepting payments for multiple products, services and events with different price ranges – all through a single button. The company hopes to help businesses save time, money, and resources by integrating this product.
About Razorpay Software Private Limited: Razorpay, a full-stack financial services company, helps Indian businesses with comprehensive and innovative solutions built over robust technology to address the entire length and breadth of the payment and banking journey for any business. Established in 2014, the company provides technology payment solutions to over 1Mn+ businesses. Founded by alumni of IIT Roorkee, Shashank Kumar and Harshil Mathur, Razorpay is the second Indian company to be a part of Silicon Valley’s largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Sequoia India, Ribbit Capital, Matrix Partners, Y Combinator and MasterCard have invested a total of $106.5 Mn through Series A, B and C funding. Around 33 angel investors have invested in Razorpay’s mission to simplify payments and banking and redefine how finance works in India.
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