The fintech startup’s recurring card payments service has had a tepid start, failing to win much market share from rival BillDesk’s SiHub.
In response to the publication of this article, Razorpay clarified that its application for an NBFC licence was not rejected by the Reserve Bank of India. Further, BillDesk also routes recurring payment transactions through Razorpay's MandateHQ and the re-routing of transactions between the two players is not only one way.
When Razorpay launched MandateHQ in July 2021, it eyed an opportunity that was too big for a company of its ambition and size to pass. The Bengaluru-based fintech wanted to take on its older and larger rival BillDesk for a sizeable share of India’s burgeoning subscription payments market that was …
Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.
Writer
advait@mailtmc.com
Mumbai
Ashwin covered fintech and banking at The Morning Context. Previously, he was at The Economic Times, where he worked across the finance, tech and startup verticals, breaking stories related to India’s banking system, startups in the new economy, digital payments, insurance and cryptocurrencies.
Writer
ashwin@mailtmc.com
Delhi