Part 4/11:
The data-rich environment Razorpay operates in allows for innovative product development powered by AI. For instance, by analyzing transaction patterns and customer behavior, Razorpay is exploring new offerings such as buyer protection services that are dynamically tailored to individual consumers and merchants.
Another line of innovation addresses the prevalent issue of cash-on-delivery (COD) returns in e-commerce. AI algorithms predict the probability of a return based on data points like PIN codes, order values, and customer behavior, enabling merchants to take proactive steps to reduce costs.