Mastercard and Razorpay partner to make digital payments more accessible for MSMEs and startups

Mastercard said in a statement on Tuesday, noting that the Covid-19 pandemic has accelerated the adoption of digital technologies.

Mastercard and Razorpay have launched a strategic partnership to empower Indian micro, small and medium enterprises (MSMEs) in digitising their operations, maintaining business continuity in the challenging environment and preparing for the future beyond cash.

 

“SMEs and startups would require establishing a digital footprint to build their customer base and meet demand for secure, convenient and touch-free transactions. With the partnership, Mastercard and Razorpay will work together to cater to the needs of MSMEs,” Mastercard said in a statement on Tuesday, noting that the Covid-19 pandemic has accelerated the adoption of digital technologies.

“We are excited about strengthening our partnership with Mastercard, the global payments and technology leader, in furthering digital adoption and equipping millions of businesses, especially in tier 2 and 3 cities, with industry-leading technologies that will help ensure business resilience,” said Amitabh Tewary, Chief Innovation Officer, Razorpay.

“Mastercard is excited to extend its partnership with Razorpay, India’s youngest unicorn, on a strategic level,” said Rajeev Kumar K, Senior Vice President, Market Development, South Asia, Mastercard.