On September 12, the fintech platform Razorpay announced its acquisition of Mumbai-based digital invoicing and customer engagement startup BillMe, founded by J. Khemrajani, Kuber Pritmani, and Rupam.The development is expected to bring innovation to the retail industry and reshape digital billing.
According to a press release, what the partnership basically intends to do is help businesses employ a hybrid model with which they can better connect with end consumers. The company has not yet revealed what the deal’s value was.
The Razorpay Managing Director and Co-founder Shashank Kumar, also noted,
“Now with Razorpay’s merchant relations and strong understanding of the market, we will together enable a large base of offline retail brands to enjoy the best of both worlds, grow faster, and get seamless access to omnichannel payment solutions.”
Soon after the acquisition, Shashank took to the X platform and further explained,
“Whenever we do a transaction in a store, we always receive a physical paper bill. Billme simply converts it to a digital bill and sends it to customers over WhatsApp or SMS post payment.”
He is positive that their product will come in very handy for retail brands. As he says,
“Through BillMe, stores can create digital and highly interactive bills that enable them to collect real-time customer feedback and further drive future engagements.”
What is in it for consumers?
Shashank says that consumers no longer have to worry about the same old paper bills and documenting them. It will now be accessed digitally and made available on Whatsapp or on the http://billme.io portal.
A step towards sustainability
For those who are environmentally conscious, they will now be making a major step towards sustainability by going digital. Shashank shares,
“It will also help us save tens of thousands of trees every year, plus crores of rupees spent towards manufacturing and buying paper rolls. And we will ensure we completely move away from paper bills to digital ones in the coming future.”
The rapid rise
It can be agreed that BillMe has gained a strong foothold in the digital billing sector. Till today, they have served clients like McDonald’s India, Burger King, Decathlon India, and India Cinepolis and have worked with more than 4,000 businesses and 15,000 retail Points Of Sale (POS). They’ve also streamlined property tax billing for Gadchiroli’s Etapalli district in Maharashtra
Lastly, to reflect on the recent developments, Co-founder Kuber Pritmani seems rather hopeful about what the future holds for them. He says,
‘Given the synergies between our cultures, values, and visions, we look forward to co-transforming the cycle of customer engagement alongside Razorpay, and thereby bring about a greater impact and experience for end-consumers.’
This is BillMe’s eighth acquisition and its first since entering omnichannel payments in August 2022, when it bought end-to-end digital payments provider Ezetap.
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