Bharti Airtel partners with payment gateway Razorpay for UPI transactions

Payments solution provider Razorpay on Tuesday said it has partnered with Bharti Airtel to help the latter's customers make seamless online payments through UPI (Unified Payment Interface) on the telecom firm's website and mobile app.

Payments through UPI will enhance customer experience by removing the hassle of typing card details or netbanking/wallet passwords and will eventually drive adoption of digital payments, Razorpay said in a statement.

Razorpay's payment gateway will process more than five million transactions a month on the Airtel website and mobile app, it added.

"The vision of a less-cash economy can be realised only when we successfully facilitate online payments for everyday, essential needs such as the need for people to remain connected at all times. Our partnership with Airtel is another step towards realising that goal," Razorpay co-founder and CEO Harshil Mathur said.

Launched in 2016, UPI has witnessed huge growth with the cumulative number of transactions standing at 250 million at the end of June 2018.

Razorpay currently powers online payments for more than one lakh businesses, including GoIbibo, Yatra, Zomato, IRCTC, Zoho, DSP Blackrock, Zerodha among others.

The company aims to increase its merchant count to two lakh by the end of 2018 and impact 500 million end-consumers by 2020. It has clocked in a growth rate of 30-35 per cent month-on-month.