Mastercard, Razorpay partner to drive digital payments acceptance by SMEs in India

Tuesday 16 February 2021 15:34 CET | News

Mastercard and Razorpay have entered a strategic partnership that combines Razorpay’s payment processing capabilities with Mastercard’s digital banking solutions and card services to drive digital payments acceptance by small businesses and startups in India.

The partnership aims to assist Indian micro, small, and medium enterprises in digitising their operations, maintaining business continuity in the challenging environment, and preparing for the future beyond cash.

According to the press release, before the outbreak of COVID-19, around 90% of India’s retail payments were conducted in cash. The pandemic has accelerated the adoption of digital technologies and shifted how consumers prefer to shop and pay, prompting Mastercard and Razorpay to work together to cater to the needs of MSMEs.

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Keywords: MasterCard, Razorpay, partnership, India, Asia, digital payments, online payments, SMEs
Categories: Payments & Commerce
Countries: India
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Payments & Commerce

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