Razorpay launches MandateHQ with Mastercard
Razorpay has launched a new payment interface named ‘MandateHQ’ in collaboration with Mastercard. the MandateHQ payment interface will help card-issuing banks to enable recurring payments for their customers.
- Razorpay moves in the direction of RBI’s framework for processing e-mandates on recurring online transactions.
- It has made AFA (Additional Factor of Authentication) mandatory for all recurring transactions below Rs 5,000 on debit cards, credit cards, UPI, and other Prepaid Payment Instruments (PPIs), and all stakeholders are required to ensure full compliance with the framework by September 30, 2021.
About Razorpay –
CEO: Harshil Mathur
About Mastercard –
CEO: Michael Miebach
Headquarters: Purchase, Harrison, New York, United States
Founded: 16 December 1966
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