Customer First

Customer Delight is paramount. Our decisions and actions are guided by the commitment to deliver a superior customer experience. Every decision at Razorpay is made only when we have a solid answer to, “What’s in it for our customers?”

Tip for you: Reflect on instances where you prioritized customer needs and played a role in enhancing their experience. Talk to us about your customer persona and tell us how you acted ‘Customer first’ in your previous roles.

Autonomy & ownership

We don’t wait for instructions at Razorpay. Individuals and teams are encouraged to make independent decisions. We don’t encourage micro-management. We own up to the company goals and work collaboratively towards achieving them.

Tip for you: Tell us about projects where you wore multiple hats. Tell us how you overcame blockers and collaborated with multiple teams in the past. Share an experience where you faced a challenge without clear instructions.

Challenging the status quo

We always challenge established norms. We’re never happy with the traditional ways of working. We’re always on the lookout for improvements in existing systems and processes to drive innovation.

Tip for you: Tell us about a time when you contributed to innovation at work. This could be innovation in a product or process. Tell us about a time when you identified a process at work that could be improved. What steps did you take to challenge the existing way of doing things, and what was the outcome?

Agility with Integrity

We thrive on swift adaptation and innovation while upholding ethical standards, principles, and values. If we see something slowing us down, we agree to disagree and commit to action. Simply put, we have a strong bias for action.

Tip for you: Discuss situations where you demonstrated agility in adapting to change. Talk to us about a project where you or your teammates missed deadlines. Talk to us about a decision you took that didn’t work well. 

Transparency

At Razorpay, open and honest communication is fundamental. Unless something’s confidential, we share it with the entire team. If anyone talks, everyone hears. We foster an environment where information flows seamlessly, challenges are disclosed openly, and risks are addressed proactively. 

Tip for you: Tell us about a time when you witnessed a lack of information-sharing impacting a team or project negatively. How did you address this?

Razorpay Grows with Razors

Razorpay grows only when each and every single one of us grows. We constantly focus on everyone’s long-term growth. We constantly surround ourselves with the best of the best who help us push boundaries.

Tip for you: Talk to us about your career growth plan. What steps did you already take and how are you planning to grow further? Where do you think Razorpay can help? We look forward to welcoming individuals who resonate with these principles, bringing their unique experiences and perspectives to contribute to the dynamic Razorpay family.

Every decision at Razorpay is made based on these 6 fundamental pillars. We want to hire the best of the best to set up the ‘A-team’ to solve for money movement. And we strongly believe that our core cultural values form the fundamental base for that ‘A-team’. Our interview process is deeply intertwined to check for these values. This article should help you get a quick understanding of our core pillars. Feel free to question us at every step on why these values are important. We’re excited to chat with you!

With the digital payments market in Malaysia projected to soar by an impressive 17.06% between 2023 and 2027, culminating in a market volume of $41.74 billion in 2027, the prospects are incredibly promising. This exponential growth reflects the changing tides of financial technology, setting the stage for Malaysia to embrace a future where efficiency, speed, and simplicity define the payments experience for businesses and consumers alike.

A New Milestone 

In tune with the tide, we are thrilled to announce that Curlec by Razorpay has received the license to acquire merchants in Malaysia and the ‘Curlec by Razorpay’ payment gateway will now be regulated by Bank Negara Malaysia (BNM). Furthermore, we’re excited to share that Curlec by Razorpay is now a non-bank member of Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets. 

Just as we’ve diligently worked to establish the financial backbone for businesses in India and worldwide, we are equally resolute in ensuring a secure and compliant payment infrastructure in Malaysia. With this milestone, we are on an exciting journey to provide businesses and consumers in Malaysia with a seamless, efficient, and innovative payments experience.

Paving the Way for a Cashless Malaysia

Being the first new member of PayNet since 2019, Curlec by Razorpay aims to drive the adoption of DuitNow, enabling real-time payment processing across Malaysia. Comparable to India’s UPI (Unified Payment Interface), DuitNow facilitates immediate fund transfers and receipts by using just one’s mobile number and national identification number, eliminating the necessity for a conventional bank account number. This strategic move positions Curlec to actively contribute to Bank Negara Malaysia’s vision of cultivating a cashless society where payments are seamlessly sent and received.

“Malaysia continues to take steps through its financial blueprint towards a cashless society with the aim of e-payment per capita increasing at over a 15% CAGR by 2026. The target growth of Malaysia’s digital payments sets the path for The Curlec Payment Gateway’s target to serve more than 5,000 businesses with RM10 billion annualized gross transaction value (GTV) by 2025,” said Zac Liew, Co-Founder & CEO of Curlec by Razorpay.

Bringing together India’s renowned technological capabilities and an in-depth understanding of the Malaysian payments landscape, Curlec by Razorpay’s mission is clear: to provide enterprises with a versatile payment gateway that not only accepts payments but also streamlines payouts, freeing up their bandwidth to prioritize what matters most – their customers. 

Years of hands-on experience in navigating the intricate and ever-evolving Indian market have uniquely equipped us to confront diverse challenges and solve payment-related issues on a global scale. The innovative Curlec Payment Gateway sets its sights on serving more than 5,000 businesses in Malaysia, with a bold vision to reach an annualized Gross Transaction Value (GTV) of RM10 billion by 2025. We’re dedicated to propelling Malaysian businesses to new heights through cutting-edge technology and local insights, forging a seamless path for their payment needs.

The Road Ahead…

As we embark on this exciting journey, the road ahead is filled with possibilities. Curlec by Razorpay is poised to usher Malaysian businesses into an era where payments are simpler, faster, and more efficient than ever before. With the license to acquire merchants in Malaysia for Curlec, and PayNet membership, our commitment to facilitating a seamless payments experience is stronger than ever. We look forward to continuing our mission of transforming the payments landscape, one transaction at a time, and are excited about the endless opportunities it holds for businesses in Malaysia and beyond. Together, we’re embracing a future where payments are a source of empowerment, efficiency, and innovation.

As business needs have evolved, we at Razorpay have continued to strive to meet them. We have been working hard to build an omnichannel payments ecosystem that will enable any hybrid approach businesses may adopt to reach their customers. 

One aspect of the customer experience that has been slow to evolve, though, is billing. Physical receipts continue to be treated like unwelcome guests, residing for weeks in shopping bags or on living room tables, and condemned to be forgotten in back pockets. 

Merchants have to deal with printing costs, time, and a way to easily archive a growing mountain of paper bills while the customer has to worry about storing the bill for future use for warranties or returns. 

But what if we could do more with bills? What if they could truly add value? If businesses seek a truly omnichannel experience, it is time to take billing from the past and move it into the future.

Razorpay joins hands with BillMe

We are therefore delighted to announce today that Razorpay has acquired BillMe, a digital invoicing and customer engagement startup. Founded in 2018, BillMe has been enabling businesses to move away from paper bills and add value to the whole invoicing experience. BillMe serves over 15,000 retail points of sale for 4000+ businesses, including giants like McDonald’s, Decathlon, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis.

BillMe’s digital Sale Bill transforms this one-dimensional interface between the merchant and the customer into a multi-dimensional tool that creates benefits for both the merchant and the customer. The merchant benefits by the bill becoming an interactive channel for ongoing engagement, feedback, and understanding of the customer – captured in the user-friendly, customizable, and visually powerful dashboards that the BillMe platform in conjunction with Razorpay will enable. 

What the Razorpay-BillMe partnership means for businesses

We’re all set to add power to your bill! Here’s how: 

• Enhanced customer experience: With digital invoicing, businesses can reduce friction at the checkout counter and create a great transaction experience for the customer.
• Post-sale customer engagement: Businesses will be able to engage better with their customers without any friction, using digital invoices to cross-sell, collect feedback and drive loyalty and promotions. 
• Easy integration: Owing to BillMe’s rapid deployment and proprietary integration capabilities, businesses can go live with digital invoicing in under 10 minutes as opposed to month-long processes, and with minimal tech involvement from the merchant’s end.  
• Customer visibility: Businesses can analyze customer behaviour to create personalized offers or product recommendations. 
• Reduced costs: With physical bills, there are massive printing costs, not to mention the impact on the environment.
  

With Razorpay, your bills will be engaging and interactive – and not merely end up in the bin!

Razorpay and BillMe – The best of two worlds 

While BillMe has been revolutionizing the invoicing landscape, enabling retail brands to harness the power of data through digital invoices, we at Razorpay have been working towards building a robust payments universe. Together, we will be able to help a large number of retail brands to enjoy the best of both online and offline worlds, and enjoy seamless access to omnichannel payment solutions. 

Kuber Pritmani, Co-Founder of BillMe, says, “Since BillMe’s inception, we have worked towards revolutionizing India’s Retail Point of Sale landscape, establishing ourselves as the trusted partner for retailers in all things related to ‘Digital Invoicing & Post-Purchase Customer Engagement.’ Through tech innovations, we have enhanced customer experience and provided retailers with valuable data insights to cement BillMe as the pioneer in this industry. With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses. Reinforcing integrations across all Point of Sale touchpoints enhances the value we aim to provide to our clients. Given the synergies between our cultures, values, and our visions, we look forward to co-transforming the cycle of customer engagement alongside Razorpay, and thereby bring about a greater impact and experience for end-consumers.”

Looking ahead 

The future will require businesses to be increasingly smart about customer engagement. And this partnership with BillMe is part of our continued efforts to help merchants understand their customers better. By transitioning from paper bills to digital invoices, and by harnessing the power of our tech tools, businesses have the opportunity to accelerate their growth. 

This is our eighth acquisition overall, and our first since we joined hands with Ezetap over a year ago. That day marked our foray into the world of omnichannel payments. This one marks another milestone. 

Today, we are thrilled to announce that Razorpay has broken new ground, becoming the first Indian startup to launch an international Payment Gateway,  developed for the Malaysian market with Curlec – now known as ‘Curlec by Razorpay’. This is a giant leap forward not just for Razorpay but for all Indian fintechs: We are not just building for India, we are building for the world! 

Today, emerging economies like India, Malaysia, and other countries in South-East Asia work with similar challenges of driving financial inclusion, increasing digital payment adoption amongst consumers and businesses and strengthening local payments infrastructure. To solve for these challenges, we at Razorpay are committed to working in close partnership with local banks and regulators to launch new fintech innovations. At the same time, we will work closely with businesses to ensure that they are equipped with best solutions for accepting payments and have access to the world’s best financial infrastructure through Razorpay.

Curlec by Razorpay – World-class tech with deep local knowledge 

Curlec by Razorpay combines India’s world-class tech capabilities with a deep local understanding of the Malaysian payments ecosystem. It aims to provide businesses with a payment gateway that accepts payments, automates payouts and helps them focus on their customers. By harnessing the Razorpay technology that powers 10 million businesses in India, the all-new Curlec Payment Gateway will offer a superior payment experience for Malaysian businesses.

Our extensive experience in operating within the diverse and dynamic market of India has prepared us to tackle different challenges and solve payment problems on a global scale. We see great potential in South-East Asia, and we recognize the power of payments in Malaysia and what it means for businesses of any kind and size. 

The new Curlec Payment Gateway aims to serve over 5,000 businesses in Malaysia, targeting an annualized Gross Transaction Value (GTV) of RM10 billion by 2025. 

Curlec – A full-stack digital payment gateway 

Curlec, which has disrupted the recurring payments industry in Malaysia over the past five years, has now evolved from a pure recurring payments player into a full-stack digital payment gateway. The company already collaborates with over 700 Malaysian businesses, including leading names such as Tune Protect, CTOS, Courts, Mary Kay, and The National Kidney Foundation.

With the launch of our Payment Gateway, ‘Curlec by Razorpay,’ we are now a full-stack payment solutions provider, combining the might of both worlds – world-class tech capabilities and an understanding of the local payment ecosystem.

Zac Liew, Co-Founder & CEO, Curlec

South-East Asia, a digital payment powerhouse

Today, South-East Asia is a digital payment powerhouse, with Malaysia one of the fastest-growing digital economies in the region. According to recent reports, digital trade in Malaysia today contributes 22.6% to the country’s GDP and is expected to rise to 25.5% by 2025. 

By boosting digital technology adoption and leveraging digital trade opportunities, Malaysia and its businesses have the potential to achieve a remarkable 150% increase in economic activity, reaching $52.7 billion by 2030, according to industry sources. The growth is driven by Malaysia’s fast-growing digital economy, high mobile-phone penetration rate, and strong government support for the digital economy. Malaysia’s real-time payments system, also known as DuitNow, is another key catalyst for merchant acceptance of cashless payments and has significantly aided the emergence of mobile transactions. The scope and need for more robust, reliable, and advanced payment solutions in these regions is, therefore, undeniable.

Towards a bright, new digital future 

Our collaboration with Curlec marks a significant milestone in the digital payment landscape of Malaysia. With Razorpay’s proven technology and Curlec’s extensive experience, Curlec by Razorpay offers a powerful solution that simplifies payment collection, automates payouts, and empowers businesses in Malaysia. With a focus on collaboration, innovation, and customer-centricity, we at Razorpay are ready to unlock the potential of digital payments and contribute to Malaysia’s thriving economy. 

With Curlec by Razorpay, we have stepped into the international market. As we take our tech capabilities to the world, we remain as committed as ever to strengthening the digital infrastructure of India.

We believe that one way of doing this is to seek the counsel of the wise – or, in our universe, guidance and strategic inputs from veterans of the finance, banking and regulatory industries. It is with this in mind that we at Razorpay have set up an Advisory Board of thought leaders and distinguished industry veterans. This underlines our commitment to customer-centricity and good governance. 

The Advisory Board and its vision

The Founding Independent Members of the newly formed Advisory Board include stalwarts from across various fields: 

• N. S. Vishwanathan – Former Deputy Governor, Reserve Bank of India (Chairperson)
• Arijit Basu – Chairman, HDB Financial Services & Former MD, State Bank of India (Member)
• Aruna Sundararajan – IAS (Retd.) & Former Secretary, Ministries of Steel, IT & Telecom, GoI (Member)
• K. P. Krishnan – IAS (Retd.) & Former Secretary, Ministry of Skill Development and Entrepreneurship (Member)

The Board has been founded with the singular vision of establishing the highest standards in customer-experience, corporate governance and risk and compliance in the Indian fintech industry. It will also help contribute to the development of Razorpay’s payment infrastructure and help engage with key institutions and stakeholders.

All the members of the Advisory Board will periodically convene to review, analyse and provide recommendations and directions on both strategic and tactical levels. 

The key subject areas for the Advisory Board will be:

• Accelerating product innovation around Customer Experience & Customer Safety
• Building the best-in-class practices for Regulatory & Compliance management processes 
• Working with various stakeholders to enhance Risk Monitoring and Cybercrime Prevention
• Building new processes around digital information security that will help shape the future of the fintech ecosystem 

Building the highest standards in customer-experience and good governance

“India’s fintech ecosystem is at a crucial juncture in its evolution,” notes Razorpay CEO & Co-Founder, Harshil Mathur. “With India serving as a benchmark for several nations today, it is pertinent that companies like ours are future-ready and agile to adapt to the ever-changing fintech environment,” he says.

The last 8 years at Razorpay have been exceptionally great, we’ve had the privilege of serving and solving for over 10Mn businesses. Now in our next phase of growth as India’s leading end-to-end money movement platform for businesses, we have a strong intent to put in place further systems to uphold the highest standards of customer-experience and governance.

And to help build that, we are more than thankful and honoured for the support and trust we have received from all the members of the Advisory Board. There is a tremendous opportunity to learn from each of these industry veterans. We believe that with their strategic inputs, knowledge and guidance along with our commitment to innovation, customer-centricity and good governance, Razorpay is sure to build best practices in the fintech industry that will aid us in sound decision making.

Harshil Mathur, Razorpay CEO & Co-Founder 

The Advisory Board will assist Razorpay in developing long-term strategies, anticipating challenges and suggesting mitigation measures.

With India’s financial sector rapidly evolving, “it is crucial to foster collaboration with innovative fintech companies to drive progress and deliver superior yet compliant services to businesses and consumers,” points out N. S. Vishwanathan, Former Deputy Governor, Reserve Bank of India (RBI), and Chairperson of the Board.

I congratulate Razorpay’s Leadership team for thinking of an institutional arrangement like the Advisory Board to foster high-quality governance and compliance culture even as it grows its business. Joining the Advisory Board of an industry leader such as Razorpay provides an opportunity to bring my experience and expertise in governance to help shape the company’s future plans.

I look forward to working with my colleagues on the Advisory Board and together providing the Razorpay Leadership team the required guidance and expertise in helping the company adopt best-in-class governance and compliance practices in its business operations. This is an important step in promoting a culture of responsible innovation, something imperative for the development of a more sustainable and inclusive financial system for all.

N. S. Vishwanathan, Former Deputy Governor, Reserve Bank of India (RBI)

At Razorpay, our focus is on building the financial backbone for Indian businesses. We have the privilege of serving over 10 million businesses and remain committed to ensuring the safety of our merchants and their consumers, both offline and online. We acknowledge that we’re operating in a rapidly evolving fintech environment but we will do whatever it takes to be ready for the future and build an end-to-end money movement platform that enables exponential growth for Indian businesses. 

We at Razorpay, have always desired to create an ecosystem where every Razor truly belongs and now we’ve made a few efforts to include their families too. 

As a company, we have been disrupting how age-old finance works and have been relentlessly working towards building a robust financial services ecosystem for small businesses, and we know that none of this would be possible without our teams being empowered by their families at every step of the way. This policy is our way to reiterate our commitment to our teams’ wellbeing and extend our contributions to the lives of our Razor families.

In an effort to build an inclusive, empathetic, diverse and a safe workplace not just for our Razors but their families too, we are now announcing a Family Assurance Benefits Policy that will cover all Razors and their families. We hope this small step will be of great help and assistance to our Razors’ family members in the unfortunate event of a team member’s demise. 

Losing a family member is never easy. While families grieve the loss of a loved one, the stress of how they would manage their lives (financially) further on also dawns upon the family members. We desire to help them in every way possible and this initiative is a move towards creating a work culture that cares and values team members and their families alike.

For us, every Razor’s family is our family. 

All full-time team members of Razorpay will be eligible to be covered under this term insurance policy. 

How does this policy help?

In the unfortunate event of a team member’s passing away, the nominee will receive: 

• 3X of the Last drawn annual CTC (Cost to company)
• Accelerated vesting of all unvested ESOP units (Applicable only if ESOP was allocated)
• Prorated 100% Variable pay for the current Performance cycle
• Prorated Gratuity for the tenure at Razorpay
• Continuation of medical insurance coverage for the rest of the policy term in the financial year for the nominees as per the Group Medical Cover policy.

ESOPs have been a source of significant wealth creation for team members in the startup ecosystem and Razorpay strongly believes that its team members are quintessential to the overall development of the business and ESOP are one of the many tangible ways in which Razorpay extends its gratitude to its team members. Paying tribute to the team member’s contributions further, Razorpay’s ESOP policy now makes the nominee of the deceased Razorpay team member eligible for accelerated vesting of all unvested ESOP units. 

How do you claim these benefits?

Here are a few processes that the nominee will have to follow to claim the benefits from the term insurance policy: 

• The nominee will be required to submit the following documents within 60 days of the demise to proceed further:

a) Death certificate / equivalent Medical document

b) Government ID proof of nominee

c) Canceled cheque of nominee

d) Certificate of Life for the nominee

• The HR Operations team will do the necessary validation and subsequently provide input to the Finance team who will further release the payment upon receipt of information.

*Above steps refer to only cash payouts. Accelerated vesting will happen according to ESOP vesting guidelines.

This initiative is extremely close to our hearts and our philosophy of building a culture in which every team member feels valued, empowered and cared for. At the same time, the scenarios in which such policies come into effect are times of great stress and uncertainty for the family and through this initiative we wanted to convey that we are here to help in every way possible. 

In the past few years, we took several industry-first initiatives such as “No-Meeting Days” and “Wellness Leaves” which substantially contributed towards our belief in a people-centric workplace. In addition, we recently, rolled out a revamped Employee Health Insurance Policy to include team members who are LGBTQIA+ community, and those that have live-in partners, etc. These progressive policies have also been a key reason how we’ve been able to create a  culture at Razorpay that has values employee-centricity, empathy and kindness in the workspace.  

We hope these initiatives will be a safety net for all our team members as they continue building the future of their dreams with one less thing to worry about. 

The only way we grow is together! 

At Razorpay, our vision has always been to become a one-stop platform for all payment and banking needs of businesses. If businesses and entrepreneurs need a payments solution that enables them to meet their customers across multiple channels, we want to build for them the best solution there is. We want to empower our merchants to thrive in this changing world and stand on the cutting edge of this transformation. 

Today, we are thrilled to announce that we have taken a huge step towards that vision of building a full-stack omnichannel solution by joining hands with Ezetap, an industry leader that has transformed offline payments. With offline solutions such as POS, Ezetap enables businesses to accept payments in-store and on delivery. Ezetap serves banks – including HDFC and Axis Bank – and merchants – including key players like Amazon and BigBasket – across 500,000 touchpoints and has achieved a $10 billion GTV annual run rate. 

This acquisition will empower Razorpay to become one of India’s largest omnichannel payments solutions for all businesses. Starting today, Razorpay is wherever its businesses are, wherever consumers are, and wherever India wants to pay. Thus far, we have simplified online payment for businesses with our solutions, striving to help entrepreneurs scale and grow in a digital world. Now, with Ezetap on board, we will invest the same passion and effort in simplifying in-person payments. 

But it is not enough to merely offer both online and offline payments. It is essential to marry the two seamlessly for a truly omnichannel experience. Our partnership with Ezetap will help us achieve precisely that. By combining Ezetap’s deep knowledge of the in-person payment space and our expertise in building for the online world, we will be able to create a transformative omnichannel solution for our businesses. We are excited about what we might achieve by pooling our capabilities and ideas together! 

We are truly excited about our next adventure – our next phase of growth as a part of the Razorpay family. We share Razorpay’s vision of simplifying payments and banking for Indian businesses, being available wherever their customers are, and being a one-stop payment and banking platform across channels. And this step takes us at Ezetap closer to achieving that dream. We join Razorpay’s suite of products to collectively offer businesses the best-in-class omni-channel payments experience and are excited at the limitless possibilities that together both the companies are looking to explore in the omnichannel payment world.

Ezetap CEO Byas Nambisan

We are moving towards a future where the ‘hybrid’ or omnichannel approach becomes essential for businesses seeking to grow. Online businesses want to expand to physical stores while traditional brick-and-mortar merchants are reaching new customers online. 

With Ezetap alongside, we at Razorpay want to be a part of these growth stories, fuelling the big dreams of India’s disruptive businesses. Here’s looking forward to a brave new chapter in our journey!

• Redefined the ‘Family Health Insurance Plan’ to also include Live-in partners, Same-gender partners, and those who identify as LGBTQIA+
• Rebuilt medical procedure-related benefits to include infertility treatments, gender reassignment surgeries among others

Celebrating the Pride Month starting today, 1st June 2022, Razorpay, India’s Leading Payments and Banking Platform for Businesses, is officially revamping its Employee Health Insurance Policy to include some noteworthy benefits to cover all team members including its LGBTQIA+ teammates, Live-In partners, and their families. 

With our commitment to building an employee-centric work culture encouraging diversity & inclusivity, our revised health insurance policy will now include live-in partners, same-gender partners, and those who identify as LGBTQIA+, in addition to providing other benefits such as gender reassignment surgery, infertility treatment among others. This initiative has its origins in believing that caregiving is not always limited to immediate family members as done traditionally but it also transcends through our loved ones, irrespective of one’s identity. With this, we stay committed to the well-being of our team members and their families by providing a health insurance cover that all team members will love. 

This industry-first move makes Razorpay the first Fintech unicorn in India to introduce a thoughtfully diverse and highly inclusive insurance policy for its team members. The new insurance policy, introduced recently, will be applicable to all current team members of Razorpay.  

Anuradha Bharat, Vice President, People Operations, Razorpay said, “For Razorpay, our people are our lifeline and we value them and their health. They’ve always been at the core of everything we do. The thought behind launching this revamped Health Insurance policy was led by the desire to find ways of building a workplace that practices diversity and inclusivity. We want to continue taking care of the health of all our team members including LGBTQIA+ teammates, Live-In partners, and their families as they play a crucial role in our everyday lives. With this initiative, we’re revolutionizing ‘caregiving’ by extending our cover beyond the traditional definitions of a family.”

Furthermore, the pandemic has reaffirmed our faith that everyone is equal. We, at Razorpay are proud custodians of a workplace that is free of bias or discrimination, full of equal opportunities, and a safe place to work for people irrespective of their identities. We believe in ensuring a healthy environment for all of our team members. A progressive work culture that accepts and celebrates individual diversity will always bring out the best in team members, allowing them to perform better.

Some modifications to the current insurance cover include – 

1. Gender reassignment surgery: Razorpay takes pride in being a gender-inclusive workplace and as an extension of that notion, Razorpay’s employee insurance policy will cover gender reassignment surgery without a cost limitation, and only subject to co-pay.
2. Infertility treatment: As part of maternity benefit cover, Razorpay includes coverage for infertility treatment and any post-delivery issue that arises. This is done keeping in mind that women often manage pre and post maternity complications which otherwise are excluded from maternity policies. Razorpay has also increased the maternity benefit cover from INR 50,000 to INR 75,000.
3. Ayurvedic Treatment: Keeping in mind that many team members may prefer alternative medicine, the new insurance policy will cover Ayurvedic treatment in specific scenarios.
4. Bereavement and widow-widower benefit: Introduced during the early days of the pandemic, the existing policy involved a 10% co-pay for team members. Razorpay has decided to waive off the 10% in the unfortunate event of demise during hospitalization under the bereavement benefit. Similarly, for the widow and widower benefit, the policy remains active for the remaining policy period for dependents with the 10% co-pay waived off completely, in case of an employee’s unfortunate demise.

Over the last two years, Razorpay has taken several industry-first initiatives such as “No-Meeting Days” and “Wellness Leaves” towards building a people-centric workplace. We strongly believe that a diverse, inclusive, and empathetic workplace is the key to building an employee-centric organization. 

Not only does inclusivity and employee centricity improve employee efficiency and performance, but it also goes a long way in making people feel safe, empowered and respected. The new insurance policy covers are one of many steps that Razorpay has and will be taking to stand truly people-centric. In conclusion, with this initiative, we hope to be the change that we want to see.

Onwards and upwards, and of course, Happy Pride Month to everyone celebrating!

Razorpay powers 34 of the 42 startups in India that turned unicorn last year. Being able to create an impact such as this is truly humbling. It only pushes us to continue solving for our businesses and strengthening their financial infrastructure, so that they can witness significant unrestricted growth. 

The last two years have been tough for all of us. It was a challenging time for us at Razorpay too. But I’m proud of how we stuck together and managed, collectively, to steer the company through a period of enormous growth. We grew by over 300% in the last year alone – thanks to the efforts of our team, the significant digital adoption by small businesses who trusted us, and investors who believed in our vision and purpose.

For Shashank and me, it has been a privilege to work alongside some of the smartest people in the industry – colleagues who have enabled Razorpay’s growth journey through a sense of ownership and responsibility. The journey so far has been extremely enriching and it is only because of our team of awesome Razors that we have managed to achieve so much in the last few years.

With a desire to honour our Razors for all their efforts, I take great joy in announcing Razorpay’s fourth and largest ESOP (Employee Stock Ownership Plan) sale, for 650 current and former team members – irrespective of rank – as part of a $75m transaction. The sale is led by Lightspeed Venture Partners along with participation from Moore Strategic Ventures – we’re delighted to add such marquee tech investors as partners in our journey. 

These ESOP sales are a way for us to give back to our Razors and a small effort in making a difference in their lives. This is one way for us to show them our gratitude. To date, we have awarded ESOPs to 1940 existing and former employees across levels. 

This year, we aim to benefit employees across roles and ranks. Eligible former employees can sell their ESOPs at the same rate as existing employees – we would not have it any other way at Razorpay! 

The future, as we imagine it, is one full of boundless possibilities for our partner businesses in a digital universe. We are very excited about building for our customers and their evolving financial needs and ushering in the next stage of digital inclusivity.

That will require perseverance and a team effort – but that is what we pride ourselves on at Razorpay!

Founded in 2015, Pune-based IZealiant provides software products and services to banks and financial institutions to enable electronic payments. This acquisition will help us pursue state-of-the-art payment banking technologies that can not only meet evolving business needs but also tackle some of the financial industry’s most complex challenges.  

Banks are key stakeholders in the payments ecosystem. Over the last few years, our Banking Solutions Arm has been working closely with them, building innovative payment technology solutions. 

For its part, IZealiant has enormous banking expertise in creating mobile-first, API-enabled, and cloud-ready payment processing products for banks and financial institutions across the globe. The ZealPro product suite has been deployed in over 50 banks across 18 countries, processing millions of transactions. 

This acquisition, therefore, represents the combining of two strong forces with hugely positive consequences. With our payments capabilities and with IZealiant’s knowledge and expertise, we will be able to build industry-first solutions for banks that will in turn create a world-class payments experience for our businesses and their customers. 

Prashant Mengawade, CEO, IZealiant believes our joining hands is a radical move. “We are delighted to join hands with Razorpay and be part of their growth journey together. The timing couldn’t have been better as financial institutions are increasingly looking to adopt advanced, flexible, and secure solutions to meet ever-evolving customer needs. At IZealiant, we are extremely proud of our customer-centricity, and high-performing digital payments solutions that we have built for leading financial institutions across the world. With Razorpay’s market-defining innovation and leadership in technical expertise, I’m confident that our combined forces will be a game-changer for pioneering modern payments solutions for banks,” he says.

Our acquisition of IZealiant will enable us to support banks with great tech infrastructure that will enhance the payment experience for end-users. It is another effort to answer that question that always keeps us on our toes: How can we improve the payment experience for our partner businesses and their end-consumers?