The acquisition will enable businesses to not only manage their payroll process and fund transfers, but also manage filing of taxes, compliances through a single platform without hiring any external vendors, Razorpay said in a statement.
RazorpayX is the company’s AI-driven neo-banking platform. This is Razorpay’s second acquisition in the last six months, after Thirdwatch, an AI-driven company specialising in big data and machine learning for real-time fraud prevention. Besides, Razorpay launched corporate credit cards for SMEs and startups in partnership with RBL.
Currently, the payments business forms 70% of Razorpay’s revenue and the neo-banking platform, Razorpay X along with Razorpay Capital forms the rest 30%. The company has been witnessing a growth rate of 35% month-on-month.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright