Razorpay is an India-centric digital payment gateway solution, which aims to revolutionize online payments system in India with its simple pricing, fast onboarding and easy integration. It has a Cross platform payment form that provides the facility of starting and ending payments on the same page without moving elsewhere. No annoying redirects from your website.
American payments and financial services company, MasterCard has invested an undisclosed amount in Razorpay. The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment. In 2013, it had invested in Chicago-headquartered analytics company Mu Sigma.
This investment is a part of the ‘Start Path’ programme launched by MasterCard. The programme aims to support different startups that are building technologies in finance and commerce. With this association, Razorpay will be receiving technology enhancements and will be able to tap into MasterCard’s global risk and fraud expertise. “India is helping to shape the future of ecommerce through strategic collaborations and innovative technology. The work that Razorpay is doing in India complements existing Master-Card solutions that are helping merchants of all sizes and grow their business,” said Stephane Wyper, global lead for MasterCard Start Path programme.
Founded in 2013 by Shashank Kumar and Harshil Mathur, Razorpay aims to revolutionize online payments by providing simple, affordable and secure way to India’s small and medium stores to start accepting online payments. “This investment will give us access to MasterCard’s knowledge base and expertise, thus bringing us newer technology and tools, which weren’t available. The investment will also help us build deep relationships with banks, thanks to the MasterCard name. It will help us expand internationally in the next six to eight months as well,” says Harshil Mathur.