According to Kumar, the company is heavily investing in its "omnichannel payments story" where it is building online and offline payment products across segments like marketing, and business finance, in addition to international expansion.
"The direct-to-consumer (D2C) retail market is growing at a rapid pace and is expected to reach $60 billion by FY27. We are looking to build specialised payment products for these businesses, be it online or offline, and want to keep tapping into the growth of that whole ecosystem around digital commerce," he said. In December 2023, Razorpay got the green light from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA) and was allowed to onboard new merchants on its platform after almost two years.
As a result, the firm witnesses its "best quarter yet" in terms of revenue, gross merchandise value (GMV), and number of customers onboarded.
This story is from the September 09, 2024 edition of Business Standard.
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This story is from the September 09, 2024 edition of Business Standard.
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