Razorpay and PayPal announce partnership in India

By Edil Corneille

India’s Razorpay has partnered with San Jose-based PayPal to enable seamless international payments for MSMEs and freelancers. Razorpay’s partner businesses can now integrate with PayPal and accept payments from international customers from across 200 markets in a convenient and secure manner, reducing the wait time from days to minutes.

By integrating PayPal into Razorpay’s payment platform, freelancers and MSMEs will now be able to accept international payments without having to write a single line of code.

Amitabh Tewary, Chief Innovation Officer, Razorpay said, “…Partnering with a globally recognized organization like PayPal with the expertise and experience of enabling digital payments for SMEs and Freelancers will allow us to further empower our partner businesses and open new growth avenues for them not just within India but internationally. We hope this partnership will help us serve our resilient MSME customers better and enable them to gear up for the new normal.”

Ashish Tandon, Director, Channel Partners, PayPal India stated, “MSME’s form the backbone of the Indian economy. At PayPal our focus has been to help these businesses leverage the global opportunity and in light of the current pandemic, our cross border business has become even more relevant. We firmly believe in the power of partnerships to serve our consumers and merchants and our partnership with Razorpay will be instrumental in enabling Indian small businesses and freelancers to go global and tap into our 333 million consumer base across 200 markets.”

Last year, Razorpay launched its support for 100 International currencies via internationally issued credit and debit cards – including popular currencies such as USD, EUR GBP, CAD and SGD. Razorpay’s International payments are integrated across its product offering including Payment Gateway, Payment Links, Payment Pages, Subscriptions and Invoices. With the PayPal integration, businesses of all sizes can enable over 333 million PayPal users across 200 markets world-wide through the PayPal wallet.

Razorpay is a full-stack financial solutions company and is witnessing a 40-45 per cent month-on-month growth. This newly crowned FinTech unicorn currently powers payments for over 8 million businesses including the likes of Facebook, Airtel, BookMyShow, Ola, Zomato, Swiggy, Cred, and ICICI Prudential, among others and is said to be all set to reach 10 million businesses by the end of this year.