BANKING & FINANCE | ENGAGEMENT

How Razorpay Leveraged MoEngage Flows to Drive Merchant Engagement and Retention

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25% uplift

in merchant retention

19% increase

in re-engagement metrics

29% boost

in merchant onboarding rate

About Razorpay

Founded in 2014, Razorpay is India’s largest payment gateway, and it aims to revolutionize money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration. They offer a fast, affordable, and secure way for merchants, schools, E-commerce, and other companies to accept and disburse payments online, own a fully-functional current account, and avail working capital loans.

Razorpay's Automation & Deliverability Hurdles

Razorpay ran into multiple issues with its old customer engagement platform. The cost to benefit derived wasn't strong, and poor delivery rates made it hard to reliably reach merchants. On top of that, significant automation challenges limited their ability to scale their merchant engagement efficiently.

Before MoEngage, our onboarding was fragmented with separate communications and drop-off points. Using MoEngage Flows, we streamlined everything into a single, trackable flow, making modifications easy. This change drove a significant 29% uplift in our onboarding journey.

Raktim Talukdar

Senior Manager, Growth Marketing, Razorpay

If I had to describe MoEngage in 3 words, I'd say they're very reliable, comprehensive and most definitely flexible.

Ramya Subramaniam

Manager, Growth Marketing, Razorpay

Razorpay's Seamless Transition to MoEngage

Razorpay executed a seamless migration to MoEngage, transitioning from its previous platform without disruption. Both MoEngage's Customer Success and Engineering teams utilized a war room setup to ensure there were zero hiccups during the process.

With MoEngage, Razorpay was able to :

1. Streamline campaigns into single flows using MoEngage Flows for improved trackability and easy modifications.
2. Utilize Event-Based Triggers to precisely target users at critical drop-off points.
3. Leverage WhatsApp to successfully drive webinar registrations.
4. Implement re-engagement strategies using Flows, WhatsApp, and Typeform to revive merchants.

Working Alongside Legacy Platforms

Razorpay works with many marketing tools, including Legacy platforms, but they focus on finding platforms that are simple, cost-effective, and actually work well. They prefer platforms that can handle multiple jobs – maybe 3 or 4 things – all in one place, and do them right. MoEngage ticked all these boxes and works seamlessly alongside their other Legacy platforms.