Razorpay, a payment gateway startup, has forged a partnership with Mobikwik, a mobile wallet company, to eliminate the common online payment despairs faced by online retailers.
The deal includes the integration of MobiKwik’s Power Wallet API providing Razorpay with the facility to make near to 100% successful payments.
Under the partnership, over 30 million Mobikwik wallet customers can pay online and in apps processing payments through Razorpay using their Mobikwik wallet balance.
Razorpay has also conducted a small beta phase for a couple of weeks to make the payment experience as smooth as possible.
Through this partnership, Razorpay retailers can receive MobiKwik payments from its customers without making any changes in the code of the application.
Currently, over 3000 merchants of Razorpay, including Rentomojo, Papa Johns, Brekkie, Knowlarity, and Roadrunnr, have selected MobiKwik power wallet as a payment mode on their platform.
According to Razorpay, a further 1000 clients are expected to adopt MobiKwik wallet as their preferred payment method.
MobiKwik founder Bipin Preet Singh said: "MobiKwik’s Power Wallet technology coupled with Razorpay’s robust platform, drives faster and easier transaction for online retailers, thereby bringing down the cost of doing business and also ensuring greater customer satisfaction."
Razorpay co founder Shashank Kumar said: "We found a willing partner in MobiKwik with whom we aim to develop the next generation of payment products. With this partnership all our merchants can now enjoy seamless wallet payments through Razorpay with the same ease of integration as ever."