Razorpay, the Bengaluru based fintech unicorn, has tripled its payment volume in the past 12 months, thanks to thousands of small and medium-sized businesses, mainly from Tier 2 and 3 cities, which chose the payment gateway for the first time. The company now intends to invest heavily in strengthening its fraud and security analytics infrastructure and creating supra-local solutions to provide a seamless and secure payment experience.
Following rapid business growth in 2020, Razorpay is now creating jobs for over 650 employees to meet SMEs’ ever-changing payment and banking needs. The main goal of the fintech giant will be to expand the engineering, product, customer experience, sales and marketing teams at different levels.
Razorpay’s Focus on Easing the Lives of Small Businesses
With the growing adoption of digital payments during COVID-19 and the thousands of businesses connecting to the internet for the first time, Razorpay captured the opportunity for innovation in business payments. Its expansion and recruitment plans are motivated by more investment in product development, customer experience, and new additions to the existing product line to meet SMEs and MSMEs’ changing payment and banking needs.
Razorpay’s Expansion of its Team and Operations
The company believes that new team members will join its workforce with new ideas, unstoppable enthusiasm and a relentless passion for keeping the fintech startup at the front and continuing to put customer experience and convenience above all else.
Razorpay currently employs 1,300 employees. Last year, the company hired over 550 employees and also created interoperable growth opportunities for its employees. While employees will continue to work remotely for the coming months, of the 650 new positions for new employees, 350 will expand the engineering and product teams. The rest will be in the areas of customer experience, sales and marketing.
Following rapid business growth in 2020, Razorpay is now creating jobs for over 650 employees to meet SMEs' ever-changing payment and banking needs.
Taking Advantage of Changing Trends – Razorpay Is Setting an Example
In 2020, when digital shopping and online browsing of stores became commonplace, many conventional companies were afraid of losing their entire business. Most businesses struggled with providing essential services to customers through online mode as they shifted to the digital way for the first time. These obstacles primarily included billing, invoicing, checkouts, etc.
And Razorpay came to the rescue of millions of such businesses as it provided digital access to businesses across the country for payment gateways and checkout systems. The company witnessed a 54% growth in its digital transaction volume. Razorpay did not only cater to SMEs and SMBs, but in the last six months, it has also gained the payments contracts for mega-businesses such as Facebook, Ola, Zomato and Swiggy.
It is expected that the growth and expansion trajectory of this fintech unicorn is set to go on a higher course because most businesses are set to go online, sooner or later. And when they do, Razorpay will be there to ease their payments and transactions.