{"id":3721,"date":"2020-04-24T07:11:53","date_gmt":"2020-04-24T07:11:53","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=3721"},"modified":"2025-07-30T06:01:41","modified_gmt":"2025-07-30T06:01:41","slug":"30-days-into-lockdown-citizens-come-together-to-support-battle-against-covid-19-online-donations-increase-by-180-says-razorpay","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/30-days-into-lockdown-citizens-come-together-to-support-battle-against-covid-19-online-donations-increase-by-180-says-razorpay\/","title":{"rendered":"30 Days Into Lockdown: Citizens come together to support battle against Covid-19, Online Donations Increase by 180%, says Razorpay"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Utilities (Bill Payments), IT &amp; Software and Media &amp; Entertainment grew by 73%, 32% and 25% respectively, due to social distancing\u00a0<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Tier-2 and 3 cities have started adopting digital payments, sharp increase in share of wallets like JioMoney and Paytm\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\"><i><span style=\"font-weight: 400;\">Gujarat, Tamil Nadu and Maharashtra, along with their capital cities saw a major drop during lockdown\u00a0<\/span><\/i><\/li>\n<\/ul>\n<p><b>Bengaluru &#8211; 24<\/b><b>th<\/b><b> April, 2020:<\/b> <a href=\"https:\/\/razorpay.com\/?utm_adgroup=Brand-Keywords&amp;utm_gclid=EAIaIQobChMIi7v1yIiU5QIVQ4mPCh0WggqbEAAYASAAEgLZO_D_BwE&amp;utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=Brand-Search&amp;utm_term=razorpay&amp;hsa_src=g&amp;hsa_ad=294837331139&amp;hsa_kw=razorpay&amp;hsa_mt=b&amp;hsa_acc=9786800965&amp;hsa_net=adwords&amp;hsa_ver=3&amp;hsa_grp=27293859910&amp;hsa_tgt=kwd-162786716164&amp;hsa_cam=400139470&amp;gclid=EAIaIQobChMIi7v1yIiU5QIVQ4mPCh0WggqbEAAYASAAEgLZO_D_BwE\"><span style=\"font-weight: 400;\">Razorpay<\/span><\/a><span style=\"font-weight: 400;\">, the leading full-stack financial solutions company, launched the fifth edition of \u2018The Era of Rising Fintech\u2019 report today.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Historically, the report provided an in-depth study of the FinTech ecosystem by analysing patterns of digital transactions and impact of certain industry innovations on a quarterly basis. This time however, given the circumstances that the world is facing to fight the Covid-19 outbreak, the report shares <\/span><b>insights about the impact of the National Lockdown (30 days) on digital payments <\/b><span style=\"font-weight: 400;\">in India.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, let\u2019s take a look at what happened during these 30 days. <\/span><i><span style=\"font-weight: 400;\">All findings in this report are based on transactions held on Razorpay platform between February 24 to March 23 <\/span><\/i><b><i>(Before Lockdown)<\/i><\/b><i><span style=\"font-weight: 400;\"> vs March 24 to April 23 <\/span><\/i><b><i>(During Lockdown)<\/i><\/b><i><span style=\"font-weight: 400;\">:<\/span><\/i><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As people stayed indoors, sectors such as <\/span><b>Utilities (Bill Payments), IT &amp; Software and Media &amp; Entertainment saw a growth<\/b><span style=\"font-weight: 400;\"> of 73%, 32% and 25% respectively\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Lockdown led to decline in few sectors<\/b><span style=\"font-weight: 400;\"> &#8211; Transactions in Logistics dropped by 96% due to gaps in supply chain. Travel sector declined by 87%, Real Estate by 83%, Food and Beverage (F&amp;B) by 68%, and Grocery by 54%<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">During Lockdown, <\/span><b>Online donations (transactions) towards NGOs increased<\/b><span style=\"font-weight: 400;\"> by 180%, reflecting overwhelming support from citizens to help the affected\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Transactions in cities like <\/span><b>Ahmedabad, Mumbai and Chennai took a hit <\/b><span style=\"font-weight: 400;\">of 43%, 32% and 25% respectively, in these 30 days\u00a0\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Karnataka (with 21%), Maharashtra (16%) and Telangana (11%) saw the highest contribution during the lockdown and Gujarat, Madhya Pradesh and Tamil Nadu dropped by 41%, 39% and 26% respectively\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In Payment modes (during lockdown), <\/span><b>UPI made the highest contribution <\/b><span style=\"font-weight: 400;\">of 43% followed by Cards (Debit &amp; Credit) with 39% and Netbanking with 10%. However, compared to the 30 days before lockdown, transactions via UPI, Cards and Netbanking declined by 37%, 30% and 28% respectively\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In UPI Apps, <\/span><b>Google Pay contributed the highest <\/b><span style=\"font-weight: 400;\">with a 46% share followed by PhonePe with 29% and Paytm with 10%. During the lockdown, Paytm saw a drop by 47%, Google Pay by 43% and PhonePe by 32%<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Mobile wallet transactions, particularly in tier-2 cities saw a spike<\/b><span style=\"font-weight: 400;\"> in the last 30 days, owing to increased contribution to PM Cares Fund and cashback offers &#8211; Transactions via JioMoney increased by 66%, AmazonPay by 63% and Paytm by 43%\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Overall digital payment transactions in the country dipped<\/b><span style=\"font-weight: 400;\"> by 30% in 30 days\u00a0<\/span><\/li>\n<\/ul>\n<p><b>Harshil Mathur, CEO and Co-founder, Razorpay<\/b><span style=\"font-weight: 400;\"> said, <\/span><i><span style=\"font-weight: 400;\">\u201cA significant drop of 30% in online payments in the last 30 days is something we are seeing for the first time after demonetisation. In the first two weeks of March before lockdown, the overall online spending increased by about 10% but later saw a dip primarily owing to precautionary measures which people started to take by staying indoors. While COVID-19 continues to create uncertainty on a number of fronts, this pandemic is also a turning point for the fintech industry in many ways, one such being the tremendous adoption in the use of digital payments, especially in Tier 2 &amp; 3 cities, in the last 30 days of lockdown.\u201d\u00a0<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">He added, <\/span><i><span style=\"font-weight: 400;\">\u201cI believe this is a huge opportunity for fintech companies, some of them may have to reexamine their business models after Covid-19, prioritising growth and customer acquisition over profitability. The fintech industry will be forced to evolve, think big and act boldly which will eventually result in innovations in payments and banking solutions to be able to meet new customer demands and behaviours. I foresee greater collaboration and trust between banks and fintech companies as new digital tools will be integral to any bank\u2019s strategy in the post- Covid-19 world.<\/span><\/i> <i><span style=\"font-weight: 400;\">I\u2019m also expecting mergers and acquisitions to happen post lockdown. Of course we can\u2019t foresee a lot of things, but the new macroeconomic narrative will soon transform into the next normal.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Razorpay\u2019s growth has been uphill, particularly in the last two years. With a 500% growth in 2019, the company has been witnessing a healthy growth rate of 35% month-on-month. Currently powering payments for over 1,000,000 businesses including the likes of Indigo, BSE, Thomas Cook, Reliance, SpiceJet, Aditya Birla, Sony and Oyo, the team plans to increase this count to 1,400,000 by this year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On another note, while the world is hoping for a quick recovery from the current situation, Razorpay urges every company and every individual to comply with all precautions and measures to ensure the well-being of one and all.\u00a0<\/span><\/p>\n<p><b>About <a href=\"https:\/\/razorpay.com\/\">Razorpay Software Limited<\/a> (formerly known as Razorpay Software Private Limited)<\/b><b>:\u00a0<\/b><span style=\"font-weight: 400;\">Razorpay, the leading 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 journey for any business. Established in 2014, the company provides technology payment solutions to over 1,000,000 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\u2019s largest tech accelerator, Y Combinator. Marquee investors such as Tiger Global, Matrix Partners, Y Combinator, Sequoia India, Ribbit Capital and MasterCard have invested a total of $106.5 million through Series A, B and C funding. Around 33 angel investors have invested in Razorpay\u2019s mission to simplify payments. Known to be a developer oriented payment gateway, Razorpay focuses on essentials such as 24&#215;7 support, one-line integration code and superior checkout experiences.<\/span><\/p>\n<p><b>For more information, please contact:<\/b><b>\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Hepsibah Rozario ||<\/span> <a href=\"mailto:hepsibah.rozario@razorpay.com\"><span style=\"font-weight: 400;\">hepsibah.rozario@razorpay.com<\/span><\/a><span style=\"font-weight: 400;\"> || +91 8884913468<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Shalini Chandrasekharan || <\/span><a href=\"mailto:shalini.chandrasekharan@razorpay.com\"><span style=\"font-weight: 400;\">shalini.chandrasekharan@razorpay.com<\/span><\/a><span style=\"font-weight: 400;\"> || + 91 7829212112<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Aafia Feroze ||<\/span> <a href=\"mailto:aafia.feroze@adfactorspr.com\"><span style=\"font-weight: 400;\">aafia.feroze@adfactorspr.com<\/span><\/a><span style=\"font-weight: 400;\"> || +91 9902491526<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Utilities (Bill Payments), IT &amp; Software and Media &amp; Entertainment grew by 73%, 32% and 25% respectively, due to social distancing\u00a0 Tier-2 and 3 cities have started adopting digital payments, sharp increase in share of wallets like JioMoney and Paytm\u00a0 Gujarat, Tamil Nadu and Maharashtra, along with their capital cities saw a major drop during<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-3721","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-corporate"},"modified_by":"Aditi","_links":{"self":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/3721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/comments?post=3721"}],"version-history":[{"count":4,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/3721\/revisions"}],"predecessor-version":[{"id":4613,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/3721\/revisions\/4613"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media?parent=3721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/categories?post=3721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/tags?post=3721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}