Targeted at those who run unregistered businesses on social media.
Razorpay, the Bengaluru-based payments startup, has launched payment support for freelancers, consultants, and a whole bunch of people selling their products or services via social media platforms such as Instagram or Facebook. Razorpay says it supports payment for over 100 currencies, and makes it easy for freelancers to receive payments. Features such as collecting advance payments, creating GST compliant invoices, and tools to manage bills and finances are supported on the platform.
You can check out Razorpay's payments solution for freelancers here. Earlier, Razorpay had launched Payment Pages, which allows people to easily set up an online store. In recent times, company has also tried to make OTP-based payments simpler, offered an easy way to accept subscription payments, and tried to push more online payments via good UX.
This was just one of many launches for Razorpay today. The company announced the launch of current accounts to its RazorpayX platform. This is another step in Razorpay's transition from being a payments company to a “neo-banking” platform. Debit cards, cash transfers, fixed deposits, recurring deposits, and other features are supported on this platform.
Razorpay has also acquired Opfin, a payroll and HR management software company. Razorpay says it hopes the Opfin acquisition will help its bid to offer a seamless AI-driven neo-banking platform, and to offer a good product in the payroll market.
The company has also launched corporate credit cards, with RBL as its banking partner. Razorpay said this card will give businesses no-cost interest for 50 days with a credit line ranging between Rs. 50,000 and Rs. 25 lakhs.
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