Global payments solution major Mastercard  joined with fintech player Razorpay to drive digital payments acceptance by business in the country. This  partnership will empower Indian micro, small and medium enterprises (MSMEs) in digitizing their operations.

Mastercard  on Tuesday said it has partnered with fintech player Razorpay to drive digital payments acceptance by small businesses and start-ups in the country.Mastercard said  that  Besides digitizing operations, it will help MSMEs in  maintaining business continuity in the challenging environment and preparing for the future beyond cash.

Mastercard said before the outbreak of corona, around 90 per cent of India's retail payments were conducted in cash. The adoption of digital technologies has increased amid corona pandemic. This presents a great opportunity to unite merchants, consumers, acquirers and fintech companies in expanding the adoption of digital payments in India.

The company said that this partnership will help digital adoption and equip millions of businesses, especially in tier 2 and 3 cities, with industry-leading technologies that will help ensure business resilience.

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