Razorpay addresses the persistent “payment nahi aaya” problem faced by its merchants. This common issue, where customers claim payments were made but merchants do not see the funds, creates friction and delays. Razorpay now uses artificial intelligence to automate and expedite the resolution process.
The “payment nahi aaya” issue stems from various factors. These include delayed bank updates, incorrect transaction details, or genuine disputes. Manual resolution of these issues requires time and resources. Razorpay’s AI system aims to reduce this burden.
The AI system analyzes transaction data. It identifies discrepancies between customer claims and merchant records. The system cross-references data from multiple sources. These include bank logs, payment gateways, and customer reports. The system identifies patterns and anomalies that indicate the status of a transaction.
For example, a customer reports a payment made through UPI. The AI system verifies the transaction ID. It checks the status of the transaction with the relevant bank. It compares the transaction details with the merchant’s records. If the system finds a mismatch, it flags the transaction for further review.
Razorpay reports a significant reduction in resolution time. The AI system automates the initial stages of the dispute resolution process. This reduces the need for manual intervention. Merchants receive faster updates on the status of disputed payments.
The AI system also helps prevent fraudulent claims. It identifies patterns of fraudulent behavior. The system flags suspicious transactions for review. This protects merchants from financial losses.
Razorpay focuses on improving the accuracy of its AI models. The company uses machine learning algorithms. These algorithms learn from past data. The system improves its ability to identify and resolve payment disputes. The system learns and adapts to changing payment patterns.
Razorpay’s AI system integrates with its existing payment platform. This allows for seamless data flow. Merchants can access the system through their existing Razorpay dashboards. The system provides real-time updates on the status of disputed payments.
Razorpay gathers feedback from its merchants. This feedback helps improve the AI system. Merchants report a reduction in stress related to payment disputes. They find the automated system reduces the workload.
The company’s focus is on improving the customer experience. The AI system reduces the time merchants spend resolving payment disputes. This allows them to focus on their core business.
Razorpay’s system works by comparing customer provided information, with system recorded information. If a customer provides a UPI transaction ID, the system checks that ID against the UPI network. If the UPI network shows the transaction as successful, and the merchant’s system does not, the AI system will look for common errors. For example, the system will check for delays in bank reconciliation, or for incorrect merchant account details.
The company uses data analysis to find common issues. This data analysis allows for proactive fixes to common problems. If a specific bank is experiencing delays, the system can flag that bank’s transactions for further scrutiny.
Razorpay provides merchants with clear and concise reports. These reports explain the status of disputed payments. The reports also provide insights into common causes of payment disputes. This helps merchants prevent future disputes.
The AI system handles a high volume of transactions. This allows for quick resolution of payment disputes. The system works 24/7. This ensures that merchants receive timely support.
Razorpay’s AI system does not replace human intervention entirely. Complex disputes still require manual review. The AI system automates the initial stages of the process. This allows human agents to focus on complex cases.
The company reports that the system improves transparency. Merchants know the status of their payments. This reduces uncertainty.
Razorpay continues to invest in AI technology. The company aims to further improve the accuracy and efficiency of its systems. The company plans to expand the capabilities of its AI system. This includes the ability to predict and prevent payment disputes.
