India-based fintech Razorpay has announced the acquisition of BillMe , a digital invoicing and customer engagement startup. Through this collaboration, Razorpay will merge its omnichannel payments ecosystem with BillMe’s digital Sale Bill, a multi-dimensional tool that offers benefits to both the customer and the merchant.

The companies want to enable a platform that will allow merchants to have an interactive channel for ongoing engagement, feedback, and understanding of the customer. The acquisition’s impact on businesses Some of the features that the acquisition enables include: Enhanced customer experience through digital invoicing, by minimising friction at checkout;  Post-sale customer engagement with the ability for merchants to cross-sell, collect feedback, and increase loyalty and promotions; Simple integration with BillMe’s rapid deployment and proprietary incorporation capabilities, and minimal tech involvement from the merchant’s end; Customer visibility that enables businesses to analyse behaviour and create personalised offers or product recommendations; Reduced costs as the need for physical bills is eliminated. Moreover, the collaboration between Razorpay and BillMe aims to help retail brands digitalise and seamlessly access omnichannel payment solutions.

According to BillMe’s officials, the partnership will allow their company to deepen its tech expertise by reinforcing integrations across all point-of-sale touchpoints. Currently, BillMe serves approximately 15,000 retail points-of-sale for 4000 businesses, including McDonald’s, Decathlon, Burger Kind, Baggit, Relaxo Footwear, and Cinepolis. Both companies’ objective is to help merchants understand their customers better, transition from paper bills to digital invoices, as well as utilise tech tools to increase their overall business growth. More information about Razorpay Through its omnichannel payments ecosystem, Razorpay works towards enabling businesses to adopt hybrid approaches to reach their customers.

Recently, the fintech expanded its operations through partnerships and additional solution launches. At the beginning of September 2023, Razorpay partnered with Truecaller, a global caller identification platform, to provide an improved online checkout experience for the latter’s customers. As of the announcement, clients can benefit from a faster, more secure, and more efficient online checkout experience by using the 1-Tap, OTP-Less Verification solution. In July 2023, Razorpay launched a solution that enables merchants to receive international payments via wire transfers. The MoneySaver Export Account was developed to address the needs of Indian exporters, aiming to allow merchants to receive international payments through ACH, SWIFT, SEPA, BACS, and Fedwire.

By using the product, Indian businesses can open international bank accounts where their customers are based without the need to maintain a physical presence in those specific areas. Additionally, Razorpay launched an international payment gateway for Malaysia in partnership with Curlec. The company’s objective is to disrupt the payments landscape in SEA, developing Curlec by Razorpay into a full-stack PG in the region. The fintech works with approximately 700 businesses, and, by integrating the Curlec Payment Gateway, is expected to serve over 5,000 businesses with a target of RM 10 billion in annualised Gross Transaction Value (GTV) by 2025.

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