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Bharti Airtel partners with payment gateway Razorpay for UPI transactions

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

Press Trust of India  |  New Delhi 

Razorpay raises $20 million Series B funding from Tiger Global, others

Payments solution provider on Tuesday said it has partnered with to help the latter's customers make seamless 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, 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 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," 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 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.

First Published: Tue, July 31 2018. 17:08 IST
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