Sequoia-backed fintech Razorpay to integrate with ONDC
16 October 2024
Razorpay, the fintech platform that mainly focuses on businesses, has announced that it will be joining the government’s e-commerce project, the Open Network for Digital Commerce (ONDC). The Tiger Global-backed payments solution provider will launch a payment reconciliation service for several network participants, including buyers, sellers, and logistic providers.
The Bengaluru-based company boasts of over 10 million businesses on its platform, including small and medium enterprises, and states that its history of maintaining an audit trail will likely help settle any disputes or discrepancies that arise on the network.
"The possibilities that ONDC provides are endless. I’m confident the payment reconciliation service will only further strengthen the development of ONDC’s tech infrastructure and help the ecosystem grow seamlessly from payments and compliance point of view,” said Shashank Kumar, managing director and co-founder of Razorpay.
Razorpay, the fintech platform that mainly focuses on businesses, has announced that it will be joining the government’s e-commerce project, the Open Network for Digital Commerce (ONDC). The Tiger Global-backed payments solution provider will launch a payment reconciliation service for several network participants, including buyers, sellers, and logistic providers. The Bengaluru-based company boasts of over 10 million businesses on its platform, including small and medium enterprises, and states that its history of maintaining an audit trail will likely help settle any disputes or discrepancies that arise on the network. "The possibilities that ONDC provides are endless. I’m confident the payment reconciliation service will only further strengthen the development of ONDC’s tech infrastructure and help the ecosystem grow seamlessly from payments and compliance point of view,” said Shashank Kumar, managing director and co-founder of Razorpay.
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