Rise of digital pay: 1.5 mn small companies undertake Razorpay in 15 months

Rise of digital pay: 1.5 mn small companies undertake Razorpay in 15 months


For a very long time, small companies have been an underserved market with regards to digital applied sciences. After dealing with income losses within the first half of 2020, small companies underwent a fast adoption of digital funds.


Previously 15 months for the reason that pandemic hit, fintech unicorn Razorpay has boarded over 1.5 million SMEs.


The platform noticed a development of over 200 per cent from March final yr to Might this yr in trans­motion quantity performed by MSMEs.


Notably, 54 per cent of e-transac­tions occurred by way of MSMEs from tier-2 and -3 cities. A have a look at the shifts within the digital behaviour of small busin­esses dur­ing pandemic that led to India’s MSME digital finance revolution.


Key figures


.


  • 1.5 million MSMEs adopted digital fee options for the primary time throughout this era

  • Small companies noticed their transaction volumes develop near 200%

  • MSMEs in tier-2 & -3 cities contributed to 51% of Razorpay’s digital transaction quantity

  • UPI transactions grew 346%, overtaking debit & bank cards, netbanking, and others









Rise of digital pay: 1.5 mn small businesses adopt Razorpay in 15 months



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