shk

Razorpay | Tech Leads, Engineering Managers, Directors, Software Developers | Bangalore | Onsite, Full time | https://razorpay.com/jobs

Razorpay is hiring Software Engineers at multiple levels. We are scaling rapidly and working on new and exciting payment products for India. There is lots of potential for digital payments especially for the new use-cases coming up.

Razorpay is a pure engineering-driven company and the engineers have a lot of autonomy. The team quality and the infrastructure that we work upon is among the best in India.

If interested, please reach out to shashank@razorpay.com

Many companies do have plans but it will take time. Some companies like Zomato, Practo etc. have been more successful in their efforts For many Indian companies in e-commerce and fintech, acquiring local market share is significantly more important. Will love to chat with you more. I am available at shashank [at] razorpay [dot] com

Razorpay - Bangalore, India https://razorpay.com

Full-time, relocation to Bangalore.

We are building a modern online payments platform for India through which the next 500 million people are going to pay for all kind of things.

We are hiring backend developers and devops engineers with 5-15 years experience in the industry. We are looking for individuals who can take ownership of end-to-end development of feature/product, work in a self-sufficient manner and don't require managerial super-vision.

If you are interested in such a challenge and consider yourself a good fit, then drop me an email at shashank@razorpay.com

Yes, Chintan Bakshi from Jaipur helped us during pre-YC days.

Just like cvv, we are not allowed to store the static passwords.

We support 2-step authentication as mandated by RBI.

Thanks for the kind words :)

The article is very light on details so cannot comment concretely without more context. But at a guess, I think this might be for physical card transactions since it mentions swipe machines specifically.

Sure. We will update it going forward.

We are still working on this and will share details once we have something concrete.

Charging later at will is not allowed by regulations in India. An explanation of why it might be so - https://news.ycombinator.com/item?id=9206182

That too :)

Till now, we have mostly tapped our friends, Jaipur and IIT network. We have already got good traction without any PR. We are mostly targeting startups, ecommerce and other early stage ventures at the moment and evolve our marketing model from there.

Sure, just drop an email: shashank@razorpay.com

@t3ra I don't see a reply button below your answer. By bank side "security-check" do you mean 3dsecure? If so, then we handle it and the website doesn't need to do custom modification because of it.

I loved the startup class and sails js lectures. Looking forward to more in the future.

I feel long term I can't support the policies but short term they are absolutely fine.

While I am not trying to defend the RBI, I will try and give the reasoning from RBI's perspective. Note that I don't personally support these bans.

1) Banks in India do not provide easy ways to do chargebacks. Also, many people are not even aware that you can do chargebacks. I have to manually call a bank and ask them to do so after going through a couple customer service representatives. Also, consider that a big chunk of the population is coming in the ambit of financial institutions for the first time. Many people are opening their bank accounts for the first time. Many people in India still do not trust the banks. If they see a couple hundred bucks vanishing from their accounts, they might as well abandon putting money into the accounts. Incidents like Target or Home Depot if happen in India will rock the trust that people have in these institutions.

Banking in India is a business activity synonymous with trust [1]. And in my opinion RBI has done a fine job of it.

2) RBI banned Paypal earlier because it concluded it's not complying with regulatory framework of the country. These regulations are in place for a reason. If they are obsolete then we should campaign for them to be eased. But you don't get a free pass just because you are a big entity.

Paypal as they were operating earlier had to be regulated as a bank and PayPal does not want that to happen. Any entity which provides on-demand payments back then had to be regulated as a bank as per RBI rules. PayPal was basically circumnavigating this regulation so that they don’t have to answer questions to the government about how they conduct business. Also, getting a banking license requires a lot of regulatory oversight. The closed wallets regulations that RBI came out with later was a in my opinion direct response to this.

3) Uber was routing Indian card transactions internationally. They were in essence exploiting a loophole in the regulations. If RBI hadn't blocked Uber, then Olacabs, Flipkart, etc. will also have done the same. This will have directly undermined the 2FA policies RBI has put in place. Forcing Uber to comply with the policies was the right choice at that moment.

4) The proliferation of closed wallets has forced RBI to consider whether removing 2FA on small value transactions will be beneficial.

You should understand that India's economy has only been opened recently. A lot of the restrictions will go away with time. If you think they are harmful then convince the RBI of the same. But these restrictions cannot be removed overnight just because a new startup feels the need for the same. RBI's each decision will have far reaching impacts on the financial systems of the country and they need to be taken with utmost care and foresight.

[1] http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=587

Edit: Added more context for Paypal

Bear in mind though the phones are 100x cheaper than cars. If the car prices don't come down drastically, they can certainly not become commoditized like that.

Many startups in YC actually launch during the 3 months they are here. Being successful before entering YC is only true for a small percentage of the companies.

I am glad it is. Millions of people are able to get the benefits of smartphones because of that. If Google can bring auto-driving cars to the whole world with lower cost then I will again gladly welcome it. However, that's still a decade away really.

I don't think it's going to roll out on amazon.in until they experiment with the model extensively in US.

I know uber is flouting regulatory laws in India but banning the company outright is definitely not the right solution. And again there is the question that how the said ban is going to be imposed. The Union Transport Ministry of India has given a statement saying banning uber doesn't make sense [1] Also, in a developing country like India, with no centralized repository of past records, it's extremely tough to do background checks. [2] It's busy to blame the system, but here the system in my opinion is more at fault than Uber. Clearly, uber provides a net value-add of hailing a taxi over traditional taxi services. Rather than banning them, a better way will be to have a digitized system where past records of a driver can be viewed and making it accessible to all taxi companies. Just strengthening regulations is not enough. There should be clear ways and benefits of operating within the regulatory framework.

[1] http://timesofindia.indiatimes.com/city/delhi/Banning-Uber-d... [2] http://fortune.com/2014/12/08/in-defense-of-uber-in-india/

In hindi also there is a simliar saying "Dudh ka jala chach bhi phoonk phoonk kar peeta ha" meaning Someone who is burnt with milk is very careful while drinking buttermilk as well.

Not that I know of. The dabbawala organization sticks to their business of delivering lunchboxes and I imagine are pretty happy with doing an exemplary job of it.

What other interesting times do you refer to other than the actual one?

Had to lookup that reference. For others - http://en.wikipedia.org/wiki/Eternal_September

However, what events do 2.0 and 3.0 refer to?

That's true they sold out. However, I feel they will never be manufactured in numbers compared to android one initiative for India (I hope they do though). Probably numbering few millions at best, which is a drop in bucket for the huge population.

Firefox os phones are not even available widely in retail stores in Indian tier 2 and 3 cities. Android ones on the other hand I hope will be available in remote corners as well.

Feature phones are still the reality in a large swathe of rural India. Cheaper android phones will definitely help change that situation. I wished that android one phones came with free 2-3 months of 2G packs so that millions of people could have their first taste of 'Internet'.