All merchants integrated with Razorpay, Billdesk and Cashfree can start accepting ZestMoney as a payment method immediately
ZestMoney, India’s largest and fastest growing consumer lending technology company today announced its partnership with Razorpay, Billdesk and Cashfree, the leading payment gateways of the country. Consumers on ZestMoney platform can now access more than 2 lakh leading online merchants across sectors like ecommerce, retail, education, hospitality and more. With this pact, ZestMoney becomes the only cardless EMI option accepted on almost every payment gateway in the country. The company recently raised Series A round from Xiaomi, PayU, Ribbit Capital and Omidyar Network and continues to partner with leading merchants across online and offline spectrum.
ZestMoney’s collaboration with payment gateways will now enable all the merchants that are integrated with Razorpay, Billdesk and Cashfree to start accepting ZestMoney as a payment method immediately. This means that the merchants can now offer the convenience of cardless EMI payment option to their consumers and increase their overall conversions.
By integrating ZestMoney tech platform, merchants can allow their customers to complete purchases without having to make the payment in full or at once. The customers can spread their cost over the next few months through easy EMIs. Furthermore, enabling ZestMoney’s payment option will allow the merchants to tap into its 5 million and rapidly growing consumer base, thereby, giving themselves a massive opportunity to grow their businesses. This is a major step towards ZestMoney’s vision to be universally accepted payment option.
Speaking about the partnership, Lizzie Chapman, CEO, ZestMoney, said, “We want to make ZestMoney ubiquitous to both our consumers and merchants, across online and offline space. This partnership with the leading payment gateways of the country will further strengthen our ecosystem. Our endeavour is to be present wherever shoppers need us and collaborating with partners like Razorpay, Billdesk and Cashfree is a step in the right direction to achieve our goal”.
Talking about the association, Harshil Mathur, CEO, Razorpay, said, “We are excited to offer affordability solutions such as ZestMoney to all our merchants given the impact credit can have in boosting online sales. Today, only a fraction of online sales are financed with EMI vs the offline world and by working with partners like ZestMoney, we can bring EMI availability to everyone”.
After successfully servicing consumers with partners like Xiaomi, Paytm, Byjus and UpGrad among others, more than 5 million consumers have been constantly demanding their favourite retailers to enable ZestMoney as a payment option.
ZestMoney is the largest and fastest growing consumer lending fintech company in India founded by Lizzie Chapman, Priya Sharma and Ashish Anantharaman in 2015. ZestMoney is built as a platform that can meaningfully improve the lives of more than 300 million households in the country, who currently have no access to credit cards or any other formal financing options because of insufficient credit history. ZestMoney’s unique platform uses mobile technology, digital banking and Artificial Intelligence to make life more affordable to millions of Indian consumers. ZestMoney is backed by leading investors such as Ribbit Captial, Xiaomi, Naspers Fintech and Omidyar Networks.