Razorpay: Razorpay launches D2C suite: New products to increase revenue for businesses by 50%

Domestic payments and banking platform for businesses, Razorpay has launched the D2C GRO suite. The launched the D2C GRO Suitewas announced at the D2C Sparkx 2023 event hosted by the company. Razorpay claims that this suite will empower brands to tackle various challenges throughout the e-commerce lifecycle. This includes delivering improved shopping experiences, safeguarding against fraud and facilitating seamless checkouts.
The company also promises that the latest suite of tools is poised to help 2.5 lakh e-retail and D2C brands increase their revenue by 50%. This suite also ensures a streamlined post-purchase journey for customers and enables businesses to establish personalised connections with their customer base. This suite is designed to foster loyalty and empower businesses to further enhance their e-commerce journey.
This D2C suite was unveiled by Shashank Kumar, Managing Director and Co-Founder at Razorpay along withRahul Kothari, Chief Business Officer, and Khilan Haria, SVP and Head of Payments Product.
Razorpay D2C GRO suite: Importance
Growing at a CAGR of 19% from 2022, the total addressable Indian e-commerce market is expected to reach $400 billion by 2030. However, despite this dynamic landscape, businesses often struggle with challenges like customer acquisition, retention, and payment optimisation. D2C businesses, in particular, are prone to less-than-ideal checkout experiences for customers, therefore impacting customer satisfaction.

Razorpay’s D2C GRO suite addresses these challenges and aims to equip brands with a important set of tools to enable them to thrive in the constantly evolving e-commerce landscape. Driven by its customer-centric approach, the suite comprises an existing lineup including International Payments, Affordability Widget, RTO Protection, RTO Reduction, and Magic Checkout and other new products.
Razorpay D2C GRO suite: Seven new products
Magic Konnect: it is a WhatsApp solution that offers marketing, commerce, and
support capabilities. Businesses can engage customers through broadcasts, set up stores within WhatsApp, and streamline support operations to enhance customer satisfaction.
Razorpay Promise and Trusted Badge: This product addresses customers’ trust concerns, guarantees excellent customer service and also helps in dispute resolution.
MagicX for Shopify Plus: It serves as a one-page checkout option for Shopify Plus merchants, making the shopping and checkout process 5X more efficient, by leveraging the Razorpay network of 300 million+ customers.
Razorpay Direct: This product minimises drop-offs on Shopify with a native, direct credit card payment experience, leading to 2X faster credit card payments.
COD to Prepaid: It ensures a reduction in the share of COD orders by incentivising users via WhatsApp to pay upfront for their COD order and convert it to prepaid.
Loyalty Wallet: This is an end-to-end wallet for amping customer engagement.
Gift Cards Management System: This one-stop solution for issuance and distribution is designed for scale and savings.