HOME > BUSINESS > Online transaction time to be cut down by 60% with flash Checkout: Razorpay

Online transaction time to be cut down by 60% with flash Checkout: Razorpay

razorpay

Razorpay, an online payments platform, 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 card saving feature in Flash Checkout will help merchants increase customer retention and improve transaction speeds earlier merchants had to write complex integration’s 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, 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,” the company said.

The ‘card saving’ feature is already available in some platforms such as those used by Snapdeal, Amazon, PayTM etc.. Some users, however, worry that having the card details stored on such websites will make it easy for hackers to lay their hands on their sensitive card information.

Razorpay said its product runs on a patent-pending technology through which a customer needs to authenticate themselves only once on a mobile device. Following this, all saved cards will be available across merchants of Razorpay helping users have simpler and faster transactions on mobile and desktop transactions.

“The ‘device authentication’ feature is a first in the payments industry and drastically reduces the need to have cumbersome verification processes for each transaction,” it said.

“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.

Razorpay also plans to create the largest store of saved cards in India which will simplify the payment process for end customers as well as merchants..

Follow ULTRA.news
India bitcoin law not ready yet – Finance Ministry Finance Minister Arun Jaitley said there was no law on the use of bitcoin and similar crypto currencies in India, and users of such currencies may not get recourse to legal remedies for any damage.However, Jaitely added that the government has set up a committee that is expec...
Yes Bank launches impulse buying app ‘Tap To Shop’ Trying to differentiate itself from regular ecommerce websites and apps, Yes Bank has launched an impulse buying app known as Tap To Shop.Unlike regular online shopping apps, Tap To Shop will be focused exclusively on delivering deals that are not available at most times. The...
SpiceJet enters e-commerce business with Amazon SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named 'SpiceStyle!' and also tied up with online giant Amazon.SpiceStyle.com mostly offers fashion itemsProducts from the company will be available vi...
PayTM adds support for UPI payments Customers of PayTM, India's largest wallet service can now make payments using the Unified Payments Interface, the government of India's open payments platform.The company has signed up with ICICI Bank be able to receive payments from its customers who are on the UPI platform...
After Freecharge, Axis Bank wins virtual POS provider Paynear for its UPI platform Paynear, which helps shopkeepers and businesses to accept card payments without buying a point-of-sale (POS) machine, has tied up with Axis Bank to implement support for UPI or Unified Payment Interface.UPI allows users to send and receive money and make payments using IDs th...
Domino’s Pizza starts cashless facility for phone orders Domino's Pizza has started cashless payment facility for those who order by phone as well."Post demonetization, we have seen many customers choosing to order online. Consumers coming to our restaurants to dine in or carry out are able to pay With Credit caras or Wassets. Howe...
ICICI Bank is the first with UPI app for merchants While nearly all the major banks with the exception of SBI and HDFC have come up with UPI apps for regular users, ICICI Bank has gone a step further by bringing out an app specially dedicated to merchants.The app requires a current account with ICICI Bank to operate, and any ...
Card payments slow as people start swiping more after Demonetization Swiping a debit or credit card at the local grocery store or supermarket is supposed to be the best way to beat the demonetization blues, but going by social media feedback, these networks are getting overloaded as well.In fact, our own staff have found that they have had to ...
SBI starts accepting UPI payments State Bank of India, India's largest bank, has started accepting UPI payments from customers of other banks.However, outgoing payments are yet to be enabled from an SBI account to other accounts.UPI refers to a new way of making instant payments.Instead of enterin...
Razorpay introduces e-cash on delivery using UPI Razorpay, a payment processing company, announced eCOD, a new service that lets customers pay for deliveries after the delivery is actually made.Unlike other recent offerings like Wallet on Delivery etc, Razorpay has built in support for UPI -- which means that you can pay di...
CASH CRUNCH: Freecharge signs up new merchant every 30 seconds Snapdeal-owned Freecharge said it is now signing up a new merchant every 30 seconds, possibly a result of the cash-related problems faced by consumers and businesses alike.The company had recently removed sign up charges for merchants and waived fund transfer charges as well....
Currency Crunch: Razorpay offers to onboard merchants in 1 hour Online Payment platform Razorpay said it launched a new feature --Express Activation-- in India that promises one-hour activation of new merchant accounts.Razorpay is a payments platform that allows merchants to receive payments via their websites or mobile apps. It helps bus...
Oxigen sees four-fold jump in prepaid Visa card usage Oxigen, one of India’s oldest wallet payment system, said the load value on Oxigen Wallet prepaid visa cards have increased by 4 times in the last two days.It said people seem to be switching to prepaid cards to make payments in the wake of demonetization of high-denomination...
Nike starts online sales in India US sports goods manufacturer Nike has started online retail operations in India via its portal Nike.com.India-based users can now order from the global portal and have it home delivered.Earlier, only certain markets such as Australia, Hong Kong and Indonesia were bein...
No cash? Now pay for your gas cylinder via Freecharge Wallet provider Freecharge, one of the first to support the new UPI platform, has now tied up with Indian Oil to let customers make payments for gas deliveries via a PIN number.Once the pin number is provided to the gas delivery boy, the amount will be deducted from your Free...
Book Your Game signs up with Paynimo Paynimo, an advanced retail payment platform from Techprocess, has tied up with Book Your Game, which allows users to discover workouts and group exercises near their location for a subscription fee.Paynimo's big advantage, compared with other payment gateways, is that it s...
TechProcess to enable e-payment for Muthoot Finance loans Muthoot Finance, one of India’s largest gold finance company said it has partnered with a Indian electronic payments company TechProcess Payment Services whereby their customers will be able to repay EMI's through a digital platform.The platform powered by powered by TechPr...
Infibeam to offer Ecommerce solutions in Middle East & Africa Infibeam Incorporation Limited, a Indian ecommerce company, said it entered into licensing agreement and joint venture with Dubai-UAE based KSK capital for offering "e-commerce solutions to merchants and consumers" in about 40 countries in Middle East & Africa.It was ...
AMAZON DIWALI 2016 Sale : Top 10 MOBILE deals Amazon has kickstarted its 'Great Indian Fesival Sale' today morning and is offering some decent deals on mobile phones, especially smartphones, for those on the lookout for value.The most interesting offers are on the Moto range, followed by Samsung, Xiaomi and LeEco. ...
Flipkart Big Billion Day Mobile Sale: Xiaomi Mi5 @Rs 17,999; Moto X Style, Samsung A8 @Rs 19k; Le2 f... What do you do when your rival Amazon is holding its big holiday sale two days ahead of you? If you're Flipkart, you make sure that your customers know what's in store for them if they wait.According to clues we've picked up from the social media and other promotions, Flipkar...
Flipkart warns users about fake offers ahead of Big Billion Day Sale 2016 Flipkart, one of India's top online shopping sites, has warned users not to click on suspicious links or otherwise give credence to purported offers from the website seen on social media platforms."With the Flipkart Big Billion Days just round the corner, a host of fake o...
Ola adds support for Siri, Apple Maps to its cab hiring app Ola, one of India's largest cab aggregators, said it has integrated Siri andApple Maps to its mobile app for iOS 10.The company also  launched an app for Apple Watch users.Using just their voice iPhone and iPad users running iOS 10 can simply say, “Hey Siri, get me an Ola...
HPCL, Aditya Birla Fashion to start accepting ICICI Bank’s UPI payments ICICI Bank said it has tied up with Hindustan Petroleum Corporation Ltd and Aditya Birla Fashion and Retail Limited to offer UPI based payments their retail outlets.The bank also said it has become the first in India to have 1 lakh registered virtual payment addresses under t...
Chetan Bhagat’s “One Indian Girl” to start shipping on Sunday Chetans Bhagats new book, 'One Indian Girl' will start shipping on Sunday. The novel is now available for preorder on Amazon for Rs 119.The author announced the title of his new book last month .Bhagat had earlier said that the new book will be written in female first per...
Paypal increases refund claim time period from 60 to 180 days PayPal, one of the world’s leading payments platforms, today said it has extended the time available for filing a refund claim from 60 days to 180 days to facilitate easy refunds for customers and merchants.The extended refund period will be applicable for all PayPal users an...