14:33 19th Aug, 2016
RazorPay Launches 'Flash Checkout' In India
The product runs on a patent-pending technology through which a customer needs to authenticate themselves only once on a mobile device.
Razorpay has today announced the launch of “Flash Checkout”, which will cut down transaction times by 60% when the card is saved with Razorpay, further simplifying online payments.
The product runs on a patent-pending technology through which a customer needs to authenticate themselves only once on a mobile device. Then, all saved cards will be available across merchants of Razorpay helping users have simpler and faster transactions on mobile and desktop.
The ‘device authentication’ feature, which is claimed to be a first-of-its-kind feature in the payments industry, drastically reduces the need to have cumbersome verification processes for each transaction.
“The card saving feature in Flash Checkout will help merchants increase customer retention and improve transaction speeds. Before we developed this, merchants needed to write complex integrations just to enable card saving. However, with Flash Checkout, not a single extra line of code is needed, making it the easiest way to offer card saving to end customers. In our constant endeavor to simplify transactions, this feature will help customers close a transaction quicker and bring these benefits to the entire gamut of Razorpay’s merchants”, said Shashank Kumar, Co-Founder, Razorpay.
Speaking about the data safety and secured transaction, Razorpay’s PCI DSS compliant technology ensures all card information is stored securely to facilitate safe transactions. The company also has a dedicated software security team who work with external agencies to ensure this.
"Razorpay provides a seamless flow in terms of design and interaction. This provides for a smooth transactional experience for our customers. The new 'card saving' feature simplifies the payment process and makes it convenient to purchase online from our website and app. We place our customers at the forefront and choosing Razorpay has fueled this effort for Rentomojo", said Khushboo Gupta, VP Product, RentoMojo.
RazorPay, in a recent press release, has announced that, the plan is to create the largest store of saved cards in India which will simplify the payment process for end customers as well as merchants. Also, the company has said that the launch of Flash Checkout is a step towards ensuring that merchants need not dabble with extra lines of code. All additional features will be updated automatically from Razorpay’s end, eliminating the need for merchants to tweak any code that is integrated into their systems.
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