One out of Three offline businesses preferred Razorpay as their online payment partner as they went online for the first time
SMBs in Tier 2 & 3 cities contributed to 54% of Razorpay’s digital transaction volume in 2020
Company aims to invest further in new Payment Technologies to provide businesses with a seamless and secure payment experience
Onboarded over 7 Lakh new SMBs, Startups, Freelancers in the past 12 months
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Razorpay, India’s leading Fintech Unicorn, today announced that it registered 3X growth in payment volumes over the past 12 months, thanks to the thousands of SMBs, especially from Tier 2 & 3 cities, who chose the payment gateway as they went online for the first time. This led to large scale adoption of digital payments across the country, as Razorpay witnessed over 54% of digital transaction volume coming from SMBs in Tier-2 & 3 cities alone. Online transactions in cities like Ahmedabad and Jaipur grew by about 50% within a weeks time.
The full-stack financial services company aims to further accelerate this digital revolution, by enabling 5 million new Indian SMBs to adopt digital payments in the next 12 months, currently the company serves over 5Mn businesses. Razorpay also plans to invest heavily in strengthening the security and fraud analytics infrastructure, along with building hyperlocal solutions to provide a seamless and safe payment exp