Converged payment solutions company Razorpay is looking to increase its merchant base on its platform by next year. The company that helps businesses with comprehensive and innovative payment solutions plans to have 10,00,000 merchants on its platform from the current 6,00,000 businesses. Started in 2014 as a payment gateway to solve operational and technology integration problems around payments, Razorpay has evolved to become a full-stack financial services company with offering such as Razorpay Capital – lending arm — and Razorpay X – neo-banking platform.
“Going ahead, we expect growth to come from tier 2 and 3 cities as the businesses in those towns are warming up to the idea of digital payments. Also many of these businesses in these cities are in need for digital payment solution that is technology-driven and our company provides that platform,” said Shashank Kumar, co-founder and CTO, Razorpay.
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