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Razorpay to offer credit cards for startups and SMEs

Digital payments platform Razorpay has introduced a new corporate credit card for startups and SMEs and activated digital payments for freelancers and home-preneurs. The idea, the company said, is to promote digital entrepreneurship in the country. It also said it is acquiring Opfin, a cloud-based payroll management solution, which automates the entire payroll money flow for businesses. This is the company’s second acquisition. Razorpay had organized its second flagship fintech conference FTX where the announcements were made. Over 1000 people, including founders, CXOs and industry leaders had attended the event, which discussed industry challenges. Opfin facilitates seamless automation of a business’s entire payroll process and make this effort a lot easier with robust technology and an enhanced experience. For the corporate credit cards for SMEs and startups, the company will partner with RBL Bank and the product is expected to solve challenges around access to credit, short term credit, reconciliation, expense filing and help businesses lead a healthy financial life. The company also announced the launch of Current Accounts as part of the RazorpayX platform.

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