In a bold move to tackle a significant challenge faced by businesses in India, Razorpay, a leading fintech company, has launched its revolutionary payment system, ‘Optimizer.’ This innovative platform leverages the power of artificial intelligence (AI) to combat the staggering losses incurred due to transaction failures, which collectively amount to over 7,000 Crores annually.
A Lifeline for Businesses
In essence, Razorpay Optimizer acts as a guardian angel for businesses navigating the treacherous waters of online payments. When a business accepts payments through various gateways on its website or app, this cutting-edge technology employs data gleaned from millions of previous transactions to determine the optimal payment gateway for each real-time transaction.
By doing so, it significantly reduces the likelihood of transaction failures caused by server glitches or other issues with payment gateways. The entire process is automated through AI and machine learning, eliminating the need for human intervention. This not only shields businesses from losses but also holds the potential to boost their revenue by a remarkable 10%.
Addressing a Pressing Issue
Despite the surge in digital payments in India, a substantial number of transactions still face failure, resulting in businesses losing approximately 30% of their revenue. Razorpay Optimizer has set its sights on resolving this issue by offering a dependable payment infrastructure.
The platform seamlessly integrates with a multitude of payment methods, including Payment Aggregators, Payment Gateways, UPI, Banks, and more, simplifying the management of payments, refunds, and settlements for businesses. It streamlines integration and decision-making processes, liberating businesses from the shackles of inefficiency.
Efficiency and Scalability at the Forefront
Razorpay’s objective is to fortify India’s payment infrastructure and optimize business operations. By embracing Optimizer, businesses can save more than 500 engineering hours for each integration, thus fostering efficiency and scalability.
Furthermore, Razorpay is committed to regularly enhancing Optimizer with new features, ensuring that businesses can harness the latest advancements effortlessly and without any technical hurdles.
A Chance to Experience Excellence
For a limited time, businesses can explore the transformative potential of Razorpay Optimizer at no cost until October 25, 2023. Simply visit the official Razorpay website to embark on a journey toward smoother and more successful online transactions.
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