Razorpay expands its product portfolio with an acquisition of the digital billing platform BillMe
India-based fintech Razorpay announced in its blog on Sept.11 that it had acquired BillMe, a digital invoicing and customer engagement startup, to expand its omnichannel payments ecosystem.
Founded in 2018, BillMe has served over 15,000 retail points of sale for 4000+ businesses, including giants like McDonald’s, Decathlon, Burger King, Decathlon, Baggit, Relaxo Footwear, and Cinepolis. It offers services such as digital billing, data collection, feedback capture, and automated customer engagement for retail brands.
With the new acquisition, Razorpay would be able to offer online and offline payment solutions for businesses enhanced with digital bills available to customers across different channels. The expected benefits of digital invoicing include reduced friction at the checkout counter, reduction of environmental harm, cost-saving on receipt printing, simplified invoice processing, and more.
Retailers can use digital invoices to cross-sell, collect feedback, drive loyalty and promotions, and receive actionable insights valuable for personalized offers or product recommendations.
In addition, the BillMe invoicing system offers a quick and seamless integration process with rapid deployment.
“Since BillMe’s inception, we have worked towards revolutionizing India’s Retail Point of Sale landscape, establishing ourselves as the trusted partner for retailers in all things related to ‘Digital Invoicing & Post-Purchase Customer Engagement.’ Through tech innovations, we have enhanced customer experience and provided retailers with valuable data insights to cement BillMe as the pioneer in this industry. With Razorpay, we now have a large scope to deepen our tech expertise and create a difference for our businesses.
Kuber Pritmani, Co-Founder of BillMe
Razorpay added that a partnership with BillMe is part of its continued efforts to help merchants understand their customers better and accelerate their growth. The deal marks Razorpay’s eighth acquisition since its inception in 2014.