Razorpay partners with Mastercard to launch ‘MandateHQ’

Current GK (IBPS RRB-PO) Banking Awareness

Razorpay has partnered with Mastercard to launch ‘MandateHQ’. It is a payment interface that will help card-issuing banks to enable recurring payments for their customers.
It must be noted that the Reserve Bank of India had issued a framework for processing e-mandates on recurring online transactions. The product by Razorpay is a step in this direction.
The MandateHQ solution can be fully integrated with any bank within seven days.