{"id":4365,"date":"2023-09-06T08:37:53","date_gmt":"2023-09-06T08:37:53","guid":{"rendered":"https:\/\/razorpay.com\/newsroom\/?p=4365"},"modified":"2023-09-18T18:15:36","modified_gmt":"2023-09-18T18:15:36","slug":"in-an-industry-first-move-razorpay-in-partnership-with-npci-launches-upi-autopay-on-qr-for-subscription-led-businesses-at-gff23","status":"publish","type":"post","link":"https:\/\/razorpay.com\/newsroom\/in-an-industry-first-move-razorpay-in-partnership-with-npci-launches-upi-autopay-on-qr-for-subscription-led-businesses-at-gff23\/","title":{"rendered":"In an Industry First Move, Razorpay in Partnership with NPCI, Launches \u2018UPI Autopay on QR\u2019 for Subscription-led Businesses At GFF&#8217;23"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">\u2018UPI Autopay on QR\u2019 will be India&#8217;s first QR that allows users to subscribe from anywhere<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">A game-changer with a seamless 2-step process, involving &#8216;scanning and paying&#8217; in under 30 seconds, Vs. the original 6-step method<\/span><\/i><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Several customers can scan the same QR code using their preferred payment service provider app to subscribe instantly<\/span><\/i><\/li>\n<\/ul>\n<p><b>INDIA, Bangalore &#8211; 6 September 2023:<\/b><span style=\"font-weight: 400;\"> Further to its commitment to empowering businesses with new capabilities to drive higher growth and conversions, <\/span><a href=\"https:\/\/razorpay.com\/\"><b>Razorpay<\/b><\/a><b>,<\/b><span style=\"font-weight: 400;\"> India\u2019s Leading Full-Stack Payments, and Business Banking Platform today<\/span><b> announced the launch of \u2018\u2019Razorpay UPI Autopay on QR\u2019 in collaboration with NPCI at the Global Fintech Fest 2023. Unveiled by Khilan Haria &#8211; SVP &amp; Head of Payments Product, Razorpay; and Sateesh Palagiri &#8211; Chief Mobility Solutions, NPCI and Shahabuddin Sheikh &#8211; Chief Technology Office, ALTT (Alt Balaji), <\/b><span style=\"font-weight: 400;\">this pioneering solution aims to streamline and simplify the challenges associated with expanding and maintaining subscription-based businesses, marking an industry-first achievement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, UPI Autopay has emerged to become a ubiquitous way for making recurring payments with RBI Bulletin highlighting a <\/span><a href=\"https:\/\/www.livemint.com\/news\/india\/upi-to-account-for-90-of-retail-digital-transactions-in-next-5-years-says-rbi-bulletin-11687523611297.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">143% year-on-year growth in successful transactions under the UPI Autopay feature<\/span><\/a><span style=\"font-weight: 400;\">. Being prevalent across various realms of businesses, from OTT platforms to investments and insurance, UPI Autopay is on its way to becoming the second nature of accepting and making recurring payments with ease, in India.<\/span><b> \u2018Razorpay UPI Autopay on QR\u2019 is poised to empower subscription-based businesses by harnessing the widespread use of QR codes for driving rapid adoption and quick acceptance, thereby helping them unlock their next growth opportunity.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Currently, customers are required to download the merchant app or log in to a website before they can subscribe to specific offerings. For instance, if someone wishes to subscribe to a particular OTT platform, they must navigate through the entire process of visiting the platform&#8217;s website or landing page, logging in with their credentials, and then making a payment after selecting their preferred payment service provider app. To amp up their growth and widen their customer base for their subscription offerings, businesses need to be equipped with cutting-edge tech tools that can streamline their marketing channels. The lack of innovation in subscription payment methods, such as the ability to use a single QR code for multiple users to enroll in the subscription, has only added to this struggle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With \u2018Razorpay UPI Autopay on QR\u2019, <\/span><b>businesses will now be able to effortlessly broaden their reach, enhance visibility across markets, and ultimately accelerate their growth<\/b><span style=\"font-weight: 400;\">.<\/span> <span style=\"font-weight: 400;\">After creating a QR for their subscription offerings, businesses will be able to intelligently plug those in their marketing efforts across online advertisements, newspapers, billboards, websites, TV, product packaging, delivery bags, etc. enabling them to drive better growth and strongly sustain their footing in the market. Revolutionising the operational dynamics of subscription-based businesses, Razorpay UPI Autopay on QR will transform <\/span><b>customer onboarding into a swift 2-step process, involving \u2018scanning and paying\u2019 under just 30 seconds. This streamlined approach replaces the previous 6-step journey, eliminating the need for downloading an app or signing up on the website, and allows multiple customers to conveniently scan through a single QR code.\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Commenting on the launch of the product,<\/span><b> Khilan Haria, SVP and Head of Payments Product, Razorpay said, <\/b><i><span style=\"font-weight: 400;\">&#8220;We embarked on a steadfast mission to provide businesses with optimal results, leveraging the synergy of India&#8217;s digital payments ecosystem and our technological expertise. Introducing \u2018Razorpay UPI Autopay on QR\u2019 innovation felt like a natural step in this direction. With subscription-based businesses such as OTT platforms, and insurance providers having already established themselves in metropolitan and Tier 1 cities, Razorpay UPI Autopay on QR will play a pivotal role in their next phase of growth. <\/span><\/i><b><i>By simplifying payments for these businesses and their customers, we aim to help them reach a broader audience and achieve higher sales while elevating the customer journey.<\/i><\/b><i><span style=\"font-weight: 400;\">&#8220;<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">With its focus on building the country\u2019s fintech infrastructure, Razorpay has endeavored to bring innovative and seamless payment solutions to over 10 Million businesses. The company&#8217;s razor-sharp focus on building India\u2019s financial backbone has made it the preferred platform for growing Indian businesses to scale their business.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u2018UPI Autopay on QR\u2019 will be India&#8217;s first QR that allows users to subscribe from anywhere A game-changer with a seamless 2-step process, involving &#8216;scanning and paying&#8217; in under 30 seconds, Vs. the original 6-step method Several customers can scan the same QR code using their preferred payment service provider app to subscribe instantly INDIA,<\/p>\n","protected":false},"author":14,"featured_media":4366,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[28,30],"tags":[33,102],"class_list":{"0":"post-4365","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-technology","8":"category-featured-stories","9":"tag-razorpay","10":"tag-razorpay-upi-autopay-on-qr"},"modified_by":"Anu Saraswat","_links":{"self":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4365","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\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/comments?post=4365"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4365\/revisions"}],"predecessor-version":[{"id":4367,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/posts\/4365\/revisions\/4367"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media\/4366"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/media?parent=4365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/categories?post=4365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/newsroom\/wp-json\/wp\/v2\/tags?post=4365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}