It would be an understatement to say that the past couple years have been disruptive for businesses, the Razorpay team noted in a blog post.
The pandemic led to major changes in consumer behavior and businesses had to adapt to the new environment and “new normal.” Razorpay also mentioned that we now exist in a world where “the lines between online and offline buying are blurred.” Customers demand “a seamless omnichannel experience and businesses want to deliver one.”
At Razorpay, their vision/goal has always been “to become a one-stop platform for all payment and banking needs of businesses.” If businesses and entrepreneurs need a payments solution that enables them to meet their customers across multiple channels, then Razorpay claims it wants “to build for them the best solution there is.” They want “to empower [their] merchants to thrive in this changing world and stand on the cutting edge of this transformation.”
As noted in an update from the Fintech firm, they are pleased to announce that they have taken “a huge step towards that vision of building a full-stack omnichannel solution by joining hands with Ezetap, an industry leader that has transformed offline payments.”
With offline solutions such as POS, Ezetap “enables businesses to accept payments in-store and on delivery.” Ezetap serves banks – including HDFC and Axis Bank – and merchants – “including key players like Amazon and BigBasket – across 500,000 touchpoints and has achieved a $10 billion GTV annual run rate.”
This acquisition will “empower Razorpay to become one of India’s largest omnichannel payments solutions for all businesses.”
As mentioned in the announcement, Razorpay is “wherever its businesses are, wherever consumers are, and wherever India wants to pay.”
Thus far, they claim to “have simplified online payment for businesses with our solutions, striving to help entrepreneurs scale and grow in a digital world.” Now, with Ezetap on board, they will “invest the same passion and effort in simplifying in-person payments.”
But it is not enough “to merely offer both online and offline payments.” It is essential to marry the two seamlessly “for a truly omnichannel experience. Our partnership with Ezetap will help us achieve precisely that.”
By combining Ezetap’s deep knowledge of the in-person payment space and Razorpay’s expertise in building for the online world, they will be able “to create a transformative omnichannel solution for our businesses.”
They are excited about what they might achieve by pooling their capabilities and ideas together.
Ezetap CEO Byas Nambisan said:
“We are truly excited about our next adventure – our next phase of growth as a part of the Razorpay family. We share Razorpay’s vision of simplifying payments and banking for Indian businesses, being available wherever their customers are, and being a one-stop payment and banking platform across channels. And this step takes us at Ezetap closer to achieving that dream. We join Razorpay’s suite of products to collectively offer businesses the best-in-class omni-channel payments experience and are excited at the limitless possibilities that together both the companies are looking to explore in the omnichannel payment world.”
As noted in the update, we are “moving towards a future where the ‘hybrid’ or omnichannel approach becomes essential for businesses seeking to grow.”
Online businesses want “to expand to physical stores while traditional brick-and-mortar merchants are reaching new customers online,” the Razorpay team added.
With Ezetap alongside, Razorpay wants to be “a part of these growth stories, fuelling the big dreams of India’s disruptive businesses.”