Fintech Unicorn Razorpay partners with Truecaller to Introduce ‘1-Tap Verification Solution’ in India

Admin-Devopscurry

3 years ago

Fintech Unicorn ; Truecaller, the global caller identification platform on Thursday said that it has partnered with Razorpay, India’s Leading Full-Stack Payments, and Business Banking Platform, to provide a fast and secure online checkout experience for shoppers with its 1-Tap, OTP-Less Verification solution, that ensures user safety throughout the process.

In a statement, Truecaller said that the solution will enable Razorpay to offer fast and seamless checkouts to its 200 Mn-plus customers. With the new feature, customers will no longer need to enter details manually or wait for the OTP during the checkout process. Instead, their details will get auto-filled with a single tap through Truecaller.

Khilan Haria SVP & Head of Payments and Product at Razorpay, said, “With this 1-Tap Verification feature, customers can now securely and effortlessly bypass the cumbersome multi-step verification process and enjoy the luxury of having their information prefilled with a single tap, streamlining their shopping journey on Android devices.”

The aim of the tool is to offer businesses and companies reduced drop-offs and an approximately 5% higher conversion rate, as well as to meet the needs, preferences, and demands of their customers while remaining compliant with the requirements of the industry. It will provide a faster checkout experience to their customers.

“We are genuinely thrilled about this partnership, which aims to improve the customer shopping journey with our 1-Tap Verification Solution, specifically designed for businesses setting up their e-commerce platforms,” said Priyam Bose, Global Head GTM, Truecaller for Business.

OTP-less and CVV-less online transactions are now slowly picking the pace in the Indian market. In May, the global card transaction company Visa announced the launch of a CVV-less payment feature to allow fast and seamless transactions. Earlier this month, its competitor Mastercard, too, launched a similar feature.