homebusiness Newscompanies NewsRBI approval boosts Razorpay CEO Harshil Mathur's optimism for growth as a payment aggregator
RBI approval boosts Razorpay CEO Harshil Mathur's optimism for growth as a payment aggregator
As the CEO of Razorpay, Mathur acknowledged the impact of the RBI's decision not only on the company's operational capabilities but also on the internal morale.
Harshil Mathur, the co-founder and CEO of Razorpay, on Wednesday (December 20) expressed delight and optimism in response to the Reserve Bank of India's (RBI) final authorization for the company to operate as a Payment Aggregator (PA).
Mathur said, "The morale in the team is back and energised. So we are glad we are here and now we are fully licensed and authorized, so that allows us to offer our services and allow the merchants to trust us even more than they used to before."
As the CEO of Razorpay, Mathur acknowledged the impact of the RBI's decision not only on the company's operational capabilities but also on the internal morale.
He noted that payments are the cornerstone of Razorpay's operations, and the delay in onboarding new merchants had led to a surge in queries and concerns from small businesses eager to go live.
"The biggest impact is on the morale internally because payments are our oldest and the place where we started. We have a large number of internet SMEs that we power and enable daily, so not being able to onboard them, the number of complaints, and the pains and questions that we were getting from all these small merchants who couldn’t go live because we were not able to onboard them was very high," Mathur explained.
With the RBI's final approval, Mathur emphasised that the company's immediate focus is swiftly onboarding these merchants, addressing their concerns, and ensuring a seamless continuation of Razorpay's operational and strategic initiatives.
He expressed confidence in the company's growth trajectory: "Over the years, Razorpay has consistently grown 50-60% year on year. We are quite confident now with this RBI decision we will be able to maintain that pace of growth which we have maintained in the last couple of years."
First Published: Dec 20, 2023 10:57 PM IST
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