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May 11, 2020

Indian payments firm Razorpay to hire more staff amidst Covid-19 gloom

Indian online payments firm Razorpay has confirmed that it will go ahead with its plan to hire people in spite of the economic uncertainty created by the Covid-19 health crisis.

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  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
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The company will hire 50 people for critical roles across product and engineering teams.

Specifically, people will be hired across functions such as backend, frontend, data sciences and product management.

The company noted that a growing number of businesses are mulling to switch to online payment methods following the social distancing curbs imposed due to the pandemic.

The hiring of new people is part of the company’s plan to meet the ‘increasing demand’ and enable ‘seamless online transactions’ for its partner businesses.

Razorpay head of people operations Anuradha Bharat said: “While there are massive layoffs happening around, we see this as an opportunity to hire great minds and make quality additions to build a league of next-gen payment and banking solutions to help with the current circumstances.

“With business demands and behaviours changing rapidly during this time, we are hiring for critical roles based on how productive a role can be to the company and the industry at this point.”

The payments firm has more than doubled its team strength from 330 to 770 in the last 12 months.

In the last six months, Razorpay boosted its headcount by about 15%.

The coronavirus pandemic has knocked down the value of digital transactions processed by leading Indian firms, both online and offline, by an estimated 30% over the past few weeks.

In August last year, Razorpay acquired Thirdwatch, a company that specialises in real-time fraud prevention in e-commerce firms powered by artificial intelligence (AI) technology.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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