Get Control over your Razorpay data with DataChannel

Introduction

By the end of 2023, it is anticipated that the total number of active online shoppers in the U.S. alone will be around 300 million. Online shopping has been a boon for the eCommerce industry. The downside is that when unhappy with an online purchase, around 55% of shoppers prefer to share their experience with family and friends, so bad news travels fast. The payment gateway solution utilized by the e-com seller is also an essential component of the online purchase experience. Thus, the eCommerce industry has now started updating its digital payment systems after realizing the dependability and ease of digital payments is a critical last mile in the customer conversion journey. 

Smartphone penetration has reached almost 80% as a result of the digital revolution post-pandemic, and non-cash retail payments are also expected to expand at a CAGR of 15% between 2021 and 2026. Furthermore, in the words of Bill Gates, "The digital revolution has sparked an increase in the access and usage of financial services across the world, revolutionizing methods in which individuals make and receive payments, borrow, and save." 

The digital economy is, without an ounce of doubt, on the rise and so are fintech giants. One such tech giant is ‘Razorpay’, which recently doubled its valuation and stands at $7.5 billion today. It is a scalable supplier of payment solutions that handle, delivers, and accepts a range of payment options. Razorpay's robust payment gateway enables a variety of payment methods, including EMI, mobile wallets, credit and debit cards, UPI, and net banking.

Advantages of Razorpay

• Best-in-class customer support: With Razorpay you don’t have to worry about customers' complaints surrounding payment-related errors & setbacks. Razorpay’s customer support takes care of that and helps you better your customer experience.
• Currency Conversion: You can go for international payments and increase your client base and revenue as Razorpay offers real-time conversion for around 100 currencies. Additionally, you can get the link for transactions via email, text messages, and customized payment pages. 
• Fraud Prevention & Security: Fraud prevention and security inevitably rise to the top of the priority list when it comes to digital payments. The payment solution platform rigorously complies with industry-mandated Payment Card Industry Data Security Standards (PCI DSS) and safeguards any sensitive information pertaining to any customer. 
• Easy Monitoring of Transactions: With traditional banking, keeping track of transactions made to several clients, suppliers, etc. can be difficult. But with the use of Razorpay's dashboard functionality & sophisticated financial CRM infrastructure, you can even gain important insights into cash flows, money transfers across departments, and other financial activities.

Move Razorpay data into any data warehouse of your choice with DataChannel

With DataChannel’s latest integration with Razorpay, you can easily move your data from Razorpay into the data warehouse of your choice. Simply run & configure your custom data pipeline and get access to reports on: 

• Customers
• Orders 
• Payments
• Settlements
• Instant Settlements
• Refunds
• Disputes 
• Invoices
• Items 
• Subscription Plans
• Subscription

Why the need for Razorpay Integration

The eCommerce businesses that use payment gateway platforms like Razorpay have access to a huge amount of data related to customer spending habits, customer segmentation, preferred mode of payment (in a specific region and time zone), and furthermore data about payment related setbacks & errors, and the most purchased product.

The data teams can then either manually extract and update this data in Google Sheets (or another storage system) on a daily basis, or they can write tedious code to fetch data and somehow make it available to other teams as well. However, both these methods will require a humongous amount of time and effort to code & maintain. This time & effort could be invested in deriving better insights. Thus, arises the need for an automated, no-code, cloud-based data integration infrastructure. With such infrastructure the data can be easily retrieved and stored in a data warehouse simply by scheduling and running custom data pipelines for drawing meaningful insights (and also feeding the same data into various inventory management, CRM, and marketing tools using Reverse ETL).

With ETL tools such as DataChannel you can start streaming your Razorpay data into a single source of truth of your choice and get access to the automated in-depth reports on Refunds, Orders, Subscriptions, etc in minutes with minimal effort. You can easily run your data pipelines to make well-informed business decisions around providing better-targeted customer experience, managing inventory and most importantly reducing losses and driving more revenue.

Advantages of using DataChannel

• 100+ Data Sources. DataChannel’s ever-expanding list of supported data sources includes all popular advertising, marketing, CRM, financial, and eCommerce platforms and apps along with support for ad-hoc files, google sheets, cloud storages, relational databases, and ingestion of real-time data using webhooks. If we do not have the integration you need, reach out to our team and we will build it for you for free.
• Powerful scheduling and orchestration features with granular control over scheduling down to the exact minute.
• Granular control over what data to move. Unlike most tools which are highly opinionated and dictate what data they would move, we allow you the ability to choose down to field level what data you need. If you need to add another dimension or metric down the line, our easy to use UI lets you do that in a single click without any breaking changes to your downstream process.
• Extensive Logging, fault tolerance and automated recovery allows for dependable and reliable pipelines. If we are unable to recover, the extensive notifications will alert you via slack, app and email for taking appropriate action.
• Built to scale at an affordable cost. Our best in class platform is built with all ETL best practices built to handle billions of rows of data and will scale with your business when you need them to, while allowing you to only pay for what you use today.
• Get started in minutes. Get started in minutes with our self-serve UI or with the help of our on-boarding experts who can guide you through the process. We provide extensive documentation support and content to guide you all the way.
• Managed Data Warehouse. While cloud data warehouses offer immense flexibility and opportunity, managing them can be a hassle without the right team and resources. If you do not want the trouble of managing them in-house, use our managed warehouse offering and get started today. Whenever you feel you are ready to do it in-house, simply configure your own warehouse and direct pipelines to it.
• Activate your data with Reverse ETL. Be future-ready and don’t let your data sit idle in the data warehouse or stay limited to your BI dashboards. The unidimensional approach toward data management is now undergoing a paradigm change. Instead, use DataChannel’s reverse ETL offering to send data to the tools your business teams use every day. Set up alerts & notifications on top of your data warehouse and sync customer data across all platforms converting your data warehouse into a powerful CDP (Customer Data Platform). You can even preview the data without ever leaving the platform.

Get Started:

Still need more clarity on how to leverage relevant Razorpay data to improve your business decision-making? Contact us today.