Razorpay’s POS business clocks 60% growth after Ezetap acquisition

Razorpay POS, which contributes to 10 per cent of the fintech’s total revenue, clocked 40 per cent growth in its Total Payment Volume (TPV) from April to October 2023 compared to the same period in 2022. The company said that 91 per cent of the cumulative TPV during this time was attributed to UPI transactions at the doorstep, while SMS Pay contributed 9 per cent.

It recorded a 21 per cent increase in the conversion of cash on delivery to digital payments.

“This signifies a significant shift in consumer behaviour towards digital payment preferences over cash on delivery within the observed time frame,” the company said in a statement.