International payments and a banking platform for business, Razorpay has launched the D2C GRO suite. The launch of suite, the D2C GRO Suite was announced at the D2C Sparkx 2023 event hosted by Razorpay. Razorpay states that the suite will allow brands to overcome various obstacles throughout the entire lifecycle of e-commerce. This includes offering better shopping experiences, preventing fraud and providing seamless checkouts.
The company promises that its latest suite of tools will be able to assist 2.5 million D2C and e-retail brands boost their sales by 50 percent. This suite will also provide an easier post-purchase experience for customers, and allows companies to build personalised relationships with their customers. This suite was created to build loyalty among customers and allow companies to enhance their online purchasing experience.
The D2C suite was introduced by Shashank Kumar who is the Managing Director and Co-Founder at Razorpay together withRahul Kothari the Chief Business Officer along with Khilan Haria who is SVP as Head of Payments Product.
Razorpay Suite D2C Importance
With a CAGR of 19% by to 2022. The total amount of addressable Indian online-based commerce market is predicted to grow to $400 billion by the year 2030. Yet, despite this ever-changing environment, businesses are often faced with issues such as retention, acquisition of customers and optimisation of payment. D2C companies, specifically suffer from less than ideal customer checkout experiences which can negatively impact the satisfaction of customers.
Razorpay’s D2C GRO suite addresses these issues and is designed to provide companies with a comprehensive collection of tools that will allow their businesses to flourish in the ever-changing market of e-commerce. Based on its customer-centric focus this suite includes an existing line-up of products that includes International Payments, Affordability Widget, RTO Protection, RTO Reduction and Magic Checkout and other new products.
Razorpay D2C Suite of GROs Seven New Products
- Magic Konnect Magic Konnect: It is an WhatsApp service that allows commerce, marketing, as well as
- Support capabilities for support. Businesses can interact with customers via broadcasts, establish stores on WhatsApp and streamline support processes to increase customer satisfaction.
- Razorpay Promise and Trusted Badge: This product addresses trust issues for customers and guarantees top-quality customer service and assists in the resolution of disputes.
- MagicX to Shopify Plus: It is a one-page check-out option to Shopify Plus merchants, making the checkout and shopping process five times more efficient through the Razorpay network that has more than 300 million users.
- Razorpay Direct This service minimizes drop-offs on Shopify using the native direct credit card payment that results in 2X faster credit card transactions.
- COD to prepaid This will result in an increase in the percentage of COD orders through a program that encourages users using WhatsApp to pay for their COD purchase and convert it into prepay.
- Loyalty wallet: It is a complete wallet designed for improving the level of customer engagement.
- The Gift Cards Administration System The one stop solution to distribute and issue is designed to large-scale and cost-savings.
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