Biryani, BSE And Bills: All About A Billion Razorpay Transactions In FY22
One of the takeaways from data analysis is that trading activity grew 247% over previous financial year
Topics
Razorpay | Trading | payments
BS Reporter |
Shashank Kumar, Co-Founder & CTO, Razorpay
facilitated over a billion transactions during FY22. The company analysed this data to understand how and when India spent its money online. The analysis found India loved food (Biryani),
tradingonline (BSE) and loved the convenience of paying utility bills. The transaction covers the period of April 1, 2021 to March 31, 2022.
- Online food orders grew 3x year on year with the highest amount on them being spent on New Year’s Eve.
- The amount of biriyani ordered could feed every passenger passing through Howrah railway station, for three weeks.
- Grocery orders grew almost 4x with Sundays witnessing a peak in shopping
- People spent 40% above the monthly average on fitness in January as many New Year’s Resolutions were formed.
- Payments to dieticians reached an annual high on December 31, 2021
- There were 10 financial trades every second on an average
- Trading activity grew 247% over previous financial year
- Billing and recharge transactions jumped 4x this year
- Spends on Valentine’s day got bigger. On Feb 14, 2022 India spent 7x the daily average on flowers.
- Matchmaking transactions grew by 63%. The number of transactions on matrimonial services would equate to at least 125 jumbo jets full of happy couples.
- Jewellery was a common presence in shopping carts, with Dhanteras accounting for 5x daily average.
- The annual spend on jewellery and watches would cover the cost of 100 Rolls Royce Ghosts.
- India likes to shop for diapers at midnight. The amount spent on baby products could buy 50 diapers for every child born in India this year.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Tue, April 05 2022. 17:07 IST
The Battle For Depositors: US Lenders Ramp Up Efforts Amidst Rate Uncertainty
In the competitive landscape of the US banking sector, retaining depositors is paramount for lenders seeking to maintain... Read more
Beyond Capital: Unveiling The Complexities Of Bank Failure Prediction
In the realm of banking, the ability to predict and prevent failures is paramount for financial stability and consumer c... Read more
Central Banks And The Economic Horizon: Steering Through Uncertaintie
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Transforming Financial Operations With Robotic Process Automation
Author: Ricardo Goulart ... Read more
The Role Of Machine Learning In Fraud Detection
Author: Gerardine Lucero  ... Read more
Principles Of Islamic Banking And Finance
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more