Razorpay is scaling back its offline expansion after sluggish growth in that vertical. Instead, it’s concentrating on merchants that need both online and offline payment solutions following its Ezetap acquisition. The move supports Razorpay’s IPO preparations and a focus on strengthening a more profitable core business rather than expanding field operations aggressively.
Cross-border digital payment firms are eyeing India’s Gift City as a growth hub, applying for Payment Service Provider (PSP) licenses to reach international travelers and businesses. Razorpay, Cashfree, and Skydo are exploring multi-currency wallet offerings and easier import export payments, aiming to build on existing RBI authorizations while expanding their offshore style services.
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Razorpay is reportedly preparing a confidential IPO filing, but investors may scrutinize whether its growth is sustainable and how quickly it can reach profitability. The startup, previously valued at $7.5 billion, could face valuation pressure, with estimates pointing to roughly $5 billion. The move also comes after Walmart-backed PhonePe paused its $1.3 billion IPO due to geopolitical concerns.
Razorpay has partnered with superU AI to launch a real-time agentic payment system where AI handles sales and transactions with zero human intervention. Users can complete purchases through natural conversation, removing the need for separate apps or manual checkout steps and potentially speeding up how customers buy and pay.
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