Supercharging India’s digital payments revolution with Easebuzz

India is in the midst of a digital payments revolution. Online payments have grown remarkably; seven years ago, the industry saw 20 billion transactions and in mid March of 2024 that number reached 187 billion with online payments expected to grow to 481 billion transactions by March 2029. 

Expansion is fueled by macro trends such as economic formalization, rising discretionary spending, urbanization, and progressive government policies.

Digital solutions that streamline the acceptance and processing of payments have been adopted not only by mainstream industries such as education and the public sector, but also banking, financial services, and insurance (BFSI), including over 6 million micro, small, and medium enterprises (MSMEs) as well.

There are a number of companies today that offer products which help merchants accept and process cashless payments, however, they are e-commerce focused "one-size-fits-all" solutions that are not able to cater to the specific industry-specific needs across sectors. These solutions continue to remain payment gateways with little to no automation.

Enter Easebuzz—a vertical software-led platform with payments at its core. What sets this platform apart is its ability to build industry-specific workflows across the value chain of digital payments—from being a payments gateway to reconciliation and refund disbursal. This platform allows merchants to process payments more efficiently while also automating reconciliation to an extent not possible before.

Consider the case of an educational institution that needs to onboard students and set them up for payments of different types of fees such as for tuition, admissions, etc. Before a solution like Easebuzz, all types of fees would get accumulated to one single account and reconciliation would be manually done at the backend and sent on to the correct accounts.

Instead, Easebuzz can function as the CRM to collect data from prospective students, set up their profiles for payments, as well as automate the fee reconciliation and the disbursal of appropriate amounts into the correct channels. Easebuzz brings seamlessness and efficiency to companies whose financial operations were previously fragmented and prone to human errors.

Today the company serves over 200,000 businesses across India, spanning SMEs, startups, and large enterprises. It has also secured the payment aggregator and payments gateway licenses from the Reserve Bank of India, which positions Easebuzz as a long-term player in India’s payments ecosystem.

The sophistication of their platform offerings combined with customer centricity is propelling Rai Rohit Prasad (Co-Founder & CEO), Amit Kumar (Co-Founder), and the Easebuzz team to greater heights. We’re thrilled to partner with Easebuzz as they continue to revolutionize India’s payments landscape.