Available in🇮🇳 India
Both Smart Collect and Smart Collect 2.0 are powerful payment collection solutions by Razorpay that help businesses automate reconciliation of direct bank transfers. While they share core functionality, Smart Collect 2.0 introduces enhanced features and additional use cases that make it superior for modern businesses.
- For businesses already using Smart Collect: Upgrade to Smart Collect 2.0 for UPI support, instant settlements, and enhanced features.
- For new businesses: Start directly with Smart Collect 2.0 for maximum functionality.
Smart Collect 2.0 Use Cases
UPI Payment Integration (NEW IN 2.0)
UPI Payment Integration (NEW IN 2.0)
Industry: All sectors requiring UPI collectionsHow Smart Collect 2.0 Helps
- Creates Virtual UPI IDs (VPAs) in addition to Customer Identifiers
- Enables UPI payments alongside traditional bank transfers
- Customers can pay using any UPI app with branded VPAs
- 99.99% success rate for UPI transactions
Multi-Branch/Franchise Operations (NEW IN 2.0)
Multi-Branch/Franchise Operations (NEW IN 2.0)
Industry: Restaurants, Retail Chains, QSRs, Pharmacies, Theatres
Examples: Restaurant chains, Jewellery showrooms, Travel agenciesHow Smart Collect 2.0 Helps
Examples: Restaurant chains, Jewellery showrooms, Travel agenciesHow Smart Collect 2.0 Helps
- Creates branch-specific or franchise-specific Customer Identifiers
- Tracks branch-wise sales and partner-wise collections in real-time
- Customises Identifiers with company branding for better trust
- Provides transaction-level breakup for each branch/franchise
- Simplifies multi-location reconciliation
Department-wise Collections (NEW IN 2.0)
Department-wise Collections (NEW IN 2.0)
Industry: Hospitals, Large Corporations, Service Centers
Examples: Multi-department hospitals, Universities with various facultiesHow Smart Collect 2.0 Helps
Examples: Multi-department hospitals, Universities with various facultiesHow Smart Collect 2.0 Helps
- Tracks internal department-wise collections seamlessly
- Creates separate Identifiers for different departments/services
- Provides detailed reporting at identifier level
- Enables better cost center management
Payment Gateway Integration (NEW IN 2.0)
Payment Gateway Integration (NEW IN 2.0)
Industry: E-commerce, Online ServicesHow Smart Collect 2.0 Helps
- Customer Identifiers displayed on Payment Gateway checkout
- Generates new unique Identifiers for each transaction
- Customers can choose between gateway and direct bank transfer
- Seamless integration with existing payment flows
High-Value Transaction Management (ENHANCED IN 2.0)
High-Value Transaction Management (ENHANCED IN 2.0)
Industry: Real Estate, Broking, Financial Services, B2B Marketplaces
Examples: Cars24, Real Estate Builders, AIFsHow Smart Collect 2.0 Helps
Examples: Cars24, Real Estate Builders, AIFsHow Smart Collect 2.0 Helps
- Instant settlements eliminate cash flow challenges (vs T+2 in traditional methods)
- 99.99% success rate for high-value transactions
- Customer preference for netbanking over gateways for large amounts
- Third Party Verification (TPV) for enhanced security
Wallet Top-ups and Service Payments (ENHANCED IN 2.0)
Wallet Top-ups and Service Payments (ENHANCED IN 2.0)
Industry: Fintech, Gaming, Digital Services
Examples: Digital wallets, Gaming platforms, Service providersHow Smart Collect 2.0 Helps
Examples: Digital wallets, Gaming platforms, Service providersHow Smart Collect 2.0 Helps
- Instant notifications for IMPS and UPI payments
- Real-time wallet crediting improves customer experience
- Supports both traditional bank transfers and UPI methods
- Automated refunds for closed identifiers or failed TPV
Smart Collect Use Cases
Financial Services - Loan Repayments
Financial Services - Loan Repayments
Industry: NBFC, Banks, Lending Companies
Example: Acme LoansHow Smart Collect Helps
Example: Acme LoansHow Smart Collect Helps
- Automates loan repayment process with Customer Identifiers
- Supports NEFT, RTGS, and IMPS payment methods
- Provides real-time updates on payment statuses
- Reduces manual reconciliation errors in financial reporting
- Borrowers receive unique account details based on repayment schedules
E-commerce Platforms - Supplier Payments
E-commerce Platforms - Supplier Payments
Industry: E-commerce, Marketplaces
Example: Acme SuperMartHow Smart Collect Helps
Example: Acme SuperMartHow Smart Collect Helps
- Creates unique Customer Identifiers for different marketing campaigns
- Eliminates need to manually identify payment sources
- Provides automatic reconciliation with real-time status updates
- Streamlines payment processes for enhanced accuracy and efficiency
IT Services - Invoice Management
IT Services - Invoice Management
Industry: Software Development, IT Services
Example: Acme SolutionsHow Smart Collect Helps
Example: Acme SolutionsHow Smart Collect Helps
- Handles large volume invoice payments efficiently
- Clients can add bank accounts as beneficiaries in netbanking portals
- Supports NEFT, RTGS, and IMPS transfers
- Provides real-time payment notifications via webhooks
- Ensures swift and informed decision-making
Educational Institutions - Fee Collection
Educational Institutions - Fee Collection
Industry: Schools, Universities, Educational Services
Example: AcmeHorizon SchoolHow Smart Collect Helps
Example: AcmeHorizon SchoolHow Smart Collect Helps
- Accepts large one-time fee payments
- Generates unique Customer Identifiers for each student/fee cycle
- Provides automated reconciliation for accurate financial reporting
- Offers real-time insights into institutional financial health
- Seamless webhook notifications revolutionise data flow