Telecom major Airtel has partnered with payments solution firm Razorpay to ease the online payments through UPI (Unified Payment Interface) on its website and mobile app for its customers.
Razorpay in a statement said, Razorpay's payment gateway will process more than five million transactions a month on the Airtel website and mobile app.
"The vision of a less-cash economy can be realised only when we successfully facilitate online payments for everyday, essential needs such as the need for people to remain connected at all times. Our partnership with Airtel is another step towards realising that goal," said Razorpay co-founder and CEO Harshil Mathur.
Launched in 2016, UPI has witnessed saw immense growth with cumulative number of transactions standing at 250 million at the end of June 2018.
Razorpay currently offers its payment solutions to one lakh businesses, including GoIbibo, Yatra, Zomato, IRCTC, Zoho, DSP Blackrock, Zerodha among others.
The Tiger Global-backed company targets merchant count to reach two lakh by the end of 2018 and impact 500 million end-consumers by 2020. It has clocked in a growth rate of 30-35% month-on-month.