Razorpay partners with PayPal to help Indian MSME's go global
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, claims Razorpay
Razorpay partners with PayPal to help Indian MSME's go global
Fintech unicornRazorpay on Wednesday said it has partnership with global digital paymentsmajor PayPal to enable seamless international payments for Indian micro, smalland medium-sized enterprises (MSMEs) and freelancers.
The company's partner businesses can now integrate withPayPal and accept payments from international customers from across 200 marketsin a convenient and secure manner, reducing wait time from days down tominutes, Razorpay said.
The move comes at a time when leveraging digital technologieshas become more crucial for businesses than ever in view of the pandemic.
While the potential for MSMEs and freelancers continues togrow, businesses still lose out on prospective global clients due to highlycomplex payment and banking infrastructure, processes and systems in place thatlack seamless integration.
Traditionally, micro-entrepreneurs have found it difficultto accept international payments on cards via payment gateways as many of themcould not pass the eligibility checks at the banks' end.
By integrating PayPal into Razorpay's payment platform,freelancers and MSMEs will now be able to accept international payments withouthaving to write a single line of code, Razorpay said.
"Partnering with a globally recognised organizationlike PayPal with the expertise and experience of enabling digital payments forSMEs and freelancers will allow us to further empower our businesses and opennew growth avenues for them not just within India but internationally,"Amitabh Tewary, Chief Innovation Officer, Razorpay, said in a statement.
"We hope this partnership will help us serve ourresilient MSME customers better and enable them to gear up for the newnormal."
Razorpay last year launched its support for 100International currencies via Internationally issued credit and debit cards.
The full-stack financial solutions company, which currentlypowers payments for over eight million businesses, said it is witnessing a40-45 per cent month-on-month growth.
