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India's Razorpay has launched 4 new products for businesses to automate payment-related tasks like money transfers and recurring payments, as it seeks to increase its merchant count to 90,000 from 40,000 currently.
One of the new products, called Route, allows a business to sign up multiple third-party vendors using an API and split payments to each vendor, process refunds and other settlements. Another, called Smart Collect, is meant for automated collection and distribution of funds via national electronic funds transfer real time gross settlement, and immediate payment services.
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