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.
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.