 "Razorpay")
Fintech firm Razorpay integrated with Apple Pay as a payment method to support international payments for Indian merchants.
The Bengaluru-based company claims to be the first online payment aggregator in the country to enable Apple Pay for cross-border transactions.
Razorpay said it will power Apple Pay for merchants such as Mokobara, Akasa Air, Pernia’s Pop Up Shop, Sabyasachi, Nish Hair, and the House of Masaba.
Apple Pay has over 500 million global users and more than nine of 10 merchants in the US accept payment via the transaction method.
“Through Apple Pay, customers can now complete their purchases with a single click using biometric authentication (Face ID or Touch ID), with no CVV, OTP, or manual card entry required,” Razorpay said in a statement.
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It added that early pilots on the payments method has enabled a 58 per cent increase in conversion rates, a 45 per cent faster checkout, and a 12% per cent increase in average order value from Apple Pay users.
“As Indian businesses scale across borders, this launch ensures they have every advantage to win global customers’ trust, reduce friction, and accelerate growth,” said Shashank Kumar, managing director and co-founder, Razorpay.
Apple Pay on Razorpay is currently available for eligible Indian merchants onboarding customers in supported geographies and is designed to operate in compliance with India’s cross-border payment regulations.
Earlier in March, the company announced its entry into Singapore, the second international market foray after Malaysia three years ago. Singaporean businesses are able to tap into Razorpay’s payment solutions, including payment gateway, cross-border transaction solutions, and financial analytics.
The expansion into Singapore comes on the back of the company’s focus on the Southeast Asian market.
In February 2022, the firm acquired a majority stake in Malaysia-based fintech Curlec. Following the acquisition, it launched its first international payment gateway Curlec in July 2023.
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