As the world enters a digital economy, it is essential for businesses to have access to an innovative payment solution that is both scalable and secure. Razorpay, India’s leading converged payments platform, is the perfect fit for this purpose.
In line with its commitment to building an employee-centric workplace, Razorpay recently introduced a family assurance benefits policy for all full-time employees and their families. It also expanded its employee health insurance policy to include LGBTQIA+ and live-in partners.
Payroll
Payroll is a critical part of a business’s finances. It allows companies to manage employee salaries, tax payments, and other related information.
Cloud payroll software automates these processes to make them simpler and more efficient for businesses of all sizes. It also generates a variety of management reports and analytics at the click of a button.
The system makes it easy for employees to request compensation and file bills. They can then receive funds directly to their bank accounts after management reviews and authorizes them.
ESI, PT, PF, and TDS compliance payments are also automated. This reduces time and costs.
The company also offers a family assurance benefits policy to its full-time employees. The benefit provides continued financial support to an employee’s immediate family in case of their death.
Subscriptions
Subscriptions are a method of charging recurring payments from customers according to a predetermined schedule that they sign up for. They are a great way to monetize your business and keep customers engaged.
Razorpay Subscriptions helps your subscription business run on autopilot and offers easy reporting. We handle edge cases like card change, retries, email alerts and more, so you can focus on your business.
Creating plans and Subscriptions is easy with our APIs. Plan is a reusable template where you define the goods or services offered, pricing and billing cycles.
Add-ons are a feature of Razorpay Subscriptions which allows you to charge the customer for additional products or services that they purchase. You can also create upfront charges for your subscription plans.
Moreover, the Subscriptions platform also allows you to offer trial and discounting options to your customers. Besides that, it can help you manage and track your subscriptions in real time. With this, you can gain more insight into your business and increase your revenues.
NEFT/RTGS Reconciliation
Real time gross settlement (RTGS) is a payment system that allows businesses to process payments instantly and completely. Unlike NEFT, RTGS is a transaction-by-transaction system that enables instant and complete payments across different payment modes such as net banking, credit card, debit card, IMPS, and UPI.
This type of RTGS is beneficial for business because it ensures fast and smooth transactions, even during holidays and weekends. In addition, it eliminates Herstatt risk, the risk of a failed currency exchange transaction that can disrupt a country’s economy.
Another great benefit of RTGS is that it helps businesses to handle large ticket sizes. This is particularly helpful in cases where a business needs to accept several payments from different sources for a particular campaign or event.
To accept these types of payments, businesses need to share virtual bank account numbers that represent each customer’s identifying information. These virtual accounts simplify the process of receiving NEFT, RTGS, and IMPS payments from customers.
Payment Links
Payment links are a simple, secure and reliable way to accept payments online. They are a great option for businesses that don’t have a website or ecommerce store but still need to accept online payments.
They offer a seamless payment checkout for all major payment modes like credit and debit cards, net banking etc. They are also PCI compliant and are certified SSL.
Customers can click on a payment link and enter their credit card details, which are then submitted for direct transmission to your payment gateway. Both your business and customer receive immediate acknowledgments of the payment!
These payment links are easy to create and send. They can be shared with your customer immediately via email, text message or social media platforms like Facebook, WhatsApp and Instagram.