FinTech: Indian Fintech Razorpay Offers Instant Settlements To Amazon Sellers

December 21, 2021 | FinTech, News, Venture Capital
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Conditions apply, but Amazon sellers’ cash flow will get a leg up.

Razorpay, the fast-growing Indian fintech, announced Razorpay Instant Settlements, a facility designed to ease working capital woes for Amazon (NASDAQ: AMZN) sellers by paying out digital settlements within 10 seconds at any time of the day, even holidays. (Razorpay)

“Receiving your sales revenue early will give you more control of your business growth,” said the fintech. “With faster access to cash, you can make the investments you need to grow your business.”

Razorpay Instant Settlements

  • Eligibility – The seller’s Amazon payouts are at least Rs. 50,000 per month, with a selling history of 6 months or more. The seller must be a Razorpay customer
  • Fixed flat fee typically between 0.5% and 0.9% of the withdrawal amount.
  • No interest or hidden fees or annual maintenance fees.
  • Approval in one business day after application along with submission of KYC documents
  • Based on eligibility, the seller can access a maximum of ₹ 1 Lakh against their Amazon Payout balance. (This limit is subject to review and could be increased)
  • Once the facility is approved and activated, the seller can enter the amount available shown in the dashboard.
  • The amount will get credited to the seller’s account within seconds.
  • The seller can back the amount received from Razorpay after Amazon settles their payout balance.

On Monday, Razorpay announced its raise of around $375 Million in a Series-F round at a valuation of $7.5 Billion.

This round was co-led by Lone Pine Capital, Alkeon Capital and TCV and also saw participation from existing partners like Tiger Global, Sequoia Capital India, GIC and Y Combinator.

Related Story: Indian Payments Fintech Razorpay To Raise $200-250M

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