Razorpay unveils ‘DataSync’ to reduce operational costs for Indian merchants

By Gloria Mathias

Razorpay has launched DataSync, a no-code data integration platform that aims to redefine the way businesses have traditionally accessed and used critical payment, transaction, refund, chargebacks, and settlement data.

Built on Amazon Redshift and the Snowflake AI Data Cloud, DataSync will help businesses securely and easily integrate their financial and business data on Razorpay. This will enable enterprises to leverage their data for deeper business intelligence, enhanced financial reporting, improved fraud & security monitoring, and generate new revenue ideas, turning payment data into a profit centre.

As India’s no-code, seamless data integration platform, DataSync will help businesses make faster, data-driven decisions by providing real-time information on transactions, including settlements, refunds, chargebacks, and reversals, with robust security and minimal latency. DataSync will help businesses save up to 50% in operational costs, improve fraud detection, and ensure 99.99% uptime with fast access to critical transaction data.

Murali Brahmadesam, CTO & Head of Engineering at Razorpay, said, “Razorpay DataSync addresses this need by providing immediate, compliant, and secure access to critical data, enabling businesses to enhance their operational efficiency and strategic decision-making. Not only does DataSync prioritise efficiency, but it also places a paramount emphasis on security. The platform is committed to maintaining the highest standards of data privacy, ensuring that no personally identifiable information (PII) is transmitted or stored within the streaming process. It’s an efficient data transfer, providing merchants with peace of mind without compromising on data integrity or privacy.”

“We are proud to collaborate with Razorpay in launching DataSync, making easy, seamless, and secure data sharing with various stakeholders a reality. Built on Snowflake’s AI Data Cloud, DataSync empowers Razorpay’s customers to consume business-relevant data in real-time, reducing manual efforts, optimising the total cost of ownership (TCO), and reducing processing time and errors, leading to faster decision-making. Furthermore, businesses can now explore AI and ML to build data-driven innovative solutions and products by aggregating all the data in one place,” said Vijayant Rai, Managing Director, India, Snowflake.