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Razorpay Software Pvt Ltd: Expanding into new territories with Razor-sharp tech focus
Sahay, Arvind; Tiwari, Tara Case IIMA-MAR0525 / Published May 27, 2022 / 25 pages. Collection: Indian Institute of Management, Ahmedabad
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Product Overview

Razorpay, a payments solution providing company in India, achieved Unicorn status in the Fiscal Year 2021(FY 21). It had entered the payments industry with the goal of democratising the payments. However, it diversified its services and started offering capital support and neo-banking services to its customers. Demonetization had accelerated digital payments adoption in India and COVID-19 gave it a fresh boost. With this, Razorpay's revenue grew 3X in FY 21 and was expected to increase by 3X in FY 22. As it was planning to expand into other markets, it was evaluating its approach for targeting new customers. The case revolves around the salesforce management and product development processes followed by Razorpay. The crux of it is how a payments company diversifies its business and changes its organisational structure and processes as it evolves.



Learning Objectives

1. To get exposed to the Payments industry in India. a. How payment gateways work? b. Drivers of payments gateway in India? c. How is Razorpay positioned in the Payments space relative to others from a technology and customer viewpoint? 2. To understand the business model and organisational structure of Razorpay. a. What are the products/services offered by Razorpay? b. Customer segments served by Razorpay? How is this different from others in the Payments space? Does it make sense for Razorpay to proceed towards being a fintech conglomerate with an expanding product portfolio that it seems to be proceeding towards? What should be the next products in the portfolio? c. How did COVID-19 impact Razorpay- In the sales process, in Morale, and in business growth? 3. To understand the sales and product development process at Razorpay. a. Role and responsibilities of different teams? Is it a good model? Why or why not? b. Deal Desk and its implications for Razorpay? c. Incentive mechanism of the teams at Razorpay? Is it aligned with the goals of growth and solutions selling? 4. Is the current structure and process appropriate for selling to all the customer segments with the objective of: a. Maximizing their revenue. b. Achieving desired market share and becoming a primary payment service provider.


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  • Overview

    Razorpay, a payments solution providing company in India, achieved Unicorn status in the Fiscal Year 2021(FY 21). It had entered the payments industry with the goal of democratising the payments. However, it diversified its services and started offering capital support and neo-banking services to its customers. Demonetization had accelerated digital payments adoption in India and COVID-19 gave it a fresh boost. With this, Razorpay's revenue grew 3X in FY 21 and was expected to increase by 3X in FY 22. As it was planning to expand into other markets, it was evaluating its approach for targeting new customers. The case revolves around the salesforce management and product development processes followed by Razorpay. The crux of it is how a payments company diversifies its business and changes its organisational structure and processes as it evolves.

  • Learning Objectives

    Learning Objectives

    1. To get exposed to the Payments industry in India. a. How payment gateways work? b. Drivers of payments gateway in India? c. How is Razorpay positioned in the Payments space relative to others from a technology and customer viewpoint? 2. To understand the business model and organisational structure of Razorpay. a. What are the products/services offered by Razorpay? b. Customer segments served by Razorpay? How is this different from others in the Payments space? Does it make sense for Razorpay to proceed towards being a fintech conglomerate with an expanding product portfolio that it seems to be proceeding towards? What should be the next products in the portfolio? c. How did COVID-19 impact Razorpay- In the sales process, in Morale, and in business growth? 3. To understand the sales and product development process at Razorpay. a. Role and responsibilities of different teams? Is it a good model? Why or why not? b. Deal Desk and its implications for Razorpay? c. Incentive mechanism of the teams at Razorpay? Is it aligned with the goals of growth and solutions selling? 4. Is the current structure and process appropriate for selling to all the customer segments with the objective of: a. Maximizing their revenue. b. Achieving desired market share and becoming a primary payment service provider.