MasterCard’s only and first Indian investment

Who invested in whom?

One of the widest payment networks, MasterCard, has invested an unrevealed amount in Indian fintech start-up called as Razorpay. MasterCard is backing the start-up in order to promote online and mobile payment services among small businesses.

How the company got engaged with MasterCard?

Earlier too, Razorpay has been engaged in network payment with MasterCard through their Start Path programme. This programme is globally helping all start-ups to gain access tothe next wave of financial and commerce technologies. The company said it is collaborating with MasterCard payment gateway to enable merchants and card holders to verify each other before the transaction’s authentication.

Who else are supporting them besides MasterCard?

The company is also supported by other investors like business accelerator Y.Combinator, which is based in Silicon Valley, and Google’s first investor, Ram Shriram. Razorpay hasmore than 5,000 customers including big players like Papa John’s;Knowlarity, a cloud telephony; and Chai Point.

What else?

The Chief Executive & Co-founder of Razorpay, Harshil Mathur,stated that the support of MasterCard will boost their business in cutting edge technology, which would be advantageous in coming days. In its initial few months, the company has tempted various clients of its competitor’s only because of easy transaction on its platforms.

Takeaways:-

• MasterCard has invested an unrevealed amount in Indian fintech start-up called Razorpay.
• It will allow merchants and card holders to verify each other before the transaction’s authentication.
• Thecompany has more than 5,000 customers including Papa John’s, Knowlarity, and Chai Point.
• The company has tempted various clients of its competitor’s because of easy transaction process on its platforms.