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India's first converged payment solutions company Razorpay on Thursday announced its partnership with Visa to roll-out Visa-certified QR solutions under the Visa Ready Partner Programme.
Razorpay, which is India's first converged payment solution provider, will associate to roll out QR code solutions for convenience, security and reliability provided by the Visa brand.
With QR technology, merchants need not invest in payment terminals at point-of-sale, enabling them to transact electronically while solving many pain points associated with the use of cash. Driven by superior technology and an exclusive suite of products, Razorpay has been scripting new solutions to aid more and more Indian companies to go digital.
"We at Razorpay have always been working towards improving the payment infrastructure in India and making it easily accessible to businesses. Now with BharathQR, we would be able to bring new payment innovations to our merchant base, both online and offline," said CEO and co-founder Razorpay, Harshil Mathur.
"In the context of a rapidly evolving Digital India, the solution has great synergy with Razorpay's expertise to onboard merchants instantly and support advanced features like multi-tier reporting. Brought together, this represents a quantum leap in solving cash on delivery for Indian businesses," added Harshil.
The Visa Ready Partner Programme will provide structure and clarity to allow mobile device manufacturers, technology partners, mobile network operators, and others, to gain access to Visa IP, licenses and best practices and quickly introduce devices and solutions that can initiate or accept Visa payments.
However, under the Visa Ready Partner programme, Razorpay and Fomo Pay of Singapore, the First Asia Pacific partners will leverage Visa tools such as QR code generators, merchant QR code test cases and QR code testing utilities, to refine their proposed payment solutions and ensure they meet Visa's interoperable QR standards and specifications.
The collaboration between Visa and Razorpay is intended to promote a cashless lifestyle in India through will enable a wide array of new QR code use cases in the market accelerating the adoption of QR code payments.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)