Razorpay, an India-based digital bank, has announced its integration with payment giant PayPal. Razorpay reported that its partner businesses may now integrate with PayPal and accept payments from international customers from across 200 markets.
“By integrating PayPal into Razorpay’s payment platform, freelancers and MSMEs will now be able to accept international payments without having to write a single line of code. Having heavily-reduced wait-times for statutory approvals, this new service will be one of the fastest ways to accept digital payments, a boon for Indian entrepreneurs.”
While sharing more details about the integration, Amitabh Tewary, Chief Innovation Officer, Razorpay, stated:
“Our association with PayPal is an important step towards realising that goal. Partnering with a globally recognized organization like PayPal with the expertise and experience of enabling digital payments for SMEs and Freelancers will allow us to further empower our partner businesses and open new growth avenues for them not just within India but internationally. We hope this partnership will help us serve our resilient MSME customers better and enable them to gear up for the new normal.”
Ashish Tandon, Director, Channel Partners, PayPal India added:
“MSME’s form the backbone of the Indian economy. At PayPal our focus has been to help these businesses leverage the global opportunity and in light of the current pandemic, our cross border business has become even more relevant. We firmly believe in the power of partnerships to serve our consumers and merchants and our partnership with Razorpay will be instrumental in enabling Indian small businesses and freelancers to go global and tap into our 333 million consumer base across 200 markets.”
Founded in 2014, Razorpay claims to be India’s first full-stack financial solutions company. The company is on a mission to enhance the payment experience of over 300 million end consumers. And in doing so, we aim to enable Indian businesses, big and small, accept payments digitally with minimal effort and maximum ease.
“Razorpay has grown from being a payment gateway provider to a solutions-driven organization boasting of an extensive products suite to accept and disburse payments as well as raise capital and park money. In a nutshell, we fit into every nook and corner where your business touches money.”