Razorpay, an India-based online payments platform, has released its ‘Flash Checkout’, which is claimed to slash transaction times by 60% when the card is saved with Razorpay.
Based on a patent-pending technology, the new offering aims to simplifying online payments. It requires users to verify themselves only once on a mobile device. Subsequently, all saved cards will be available across merchants of Razorpay, thereby helping users to execute and experience simpler and faster transactions on mobile and desktop devices.
The company claims that the ‘device authentication’ feature cuts the cumbersome verification processes for each transaction.
To facilitate safe transactions, Razorpay’s PCI DSS compliant technology ensures all card information is stored securely.
Razorpay co-founder Shashank Kumar said: “The card saving feature in Flash Checkout will help merchants increase customer retention and improve transaction speeds.
“Before we developed this, merchants needed to write complex integrations just to enable card saving. However, with Flash Checkout, not a single extra line of code is needed, making it the easiest way to offer card saving to end customers.
“In our constant endeavour to simplify transactions, this feature will help customers close a transaction quicker and bring these benefits to the entire gamut of Razorpay’s merchants.”