RBI lifts ban on Razorpay, Cashfree; allows onboarding new merchants
Authorization will enable the payment companies to onboard new merchants onto its platform for processing online payments. Folks at these companies, how big is this? How is the company reacting?
Last year, the central bank asked Razorpay, Cashfree, PayU, and Paytm, which hold in-principal approvals for payment aggregator licence, to ...
https://www.livemint.com/news/rbi-lifts-ban-on-razorpay-cashfree-allows-onboarding-new-merchants-11702996915800.html
Not going to lie last year was wrought in pain for me. All of this was mentioned as justifiable reasons to deny high promos and hikes to me.
First, the RBI asked us to not onboard any users which in principle allowed our shit as fuck competitors to get meaningful market share. As a second order effect, these headwinds led to inner turmoil within Razorpay leading to some short term pain. Now, that this is over, we will onboard the heck out of everyone trying to onboard.
Thankfully, we could still service our existing customers so we will still end up winning.
Now, that the ban is off, it is show time. We here to fight and we here to win. Can't stop us now mfs.
SabChangaSi
Stealth
9 months ago
Doubtful :p
All the payment gateways are mostly the same. Every business will work with all of them and this will be a race to the bottom. I worked in Razorpay for 4 years and their strategy has always been- acquire customers for payments, make money off them through lending and float balance. That’s what all PGs will eventually do.
What about Easebuzz? Are they in consideration set of competitors?
Indusplateau
Stealth
9 months ago
The onslaught and fierce competition just got started.
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