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RazorpayX Introduces Automated ESCROW+ Solution Powered by Axis Trustee Services

Published on May 13, 2023
Current Context: RazorpayX, the business banking platform of Razorpay, has launched a solution that provides automated, compliant, and secure money transfer experience on Escrow accounts to businesses.
RazorpayX Introduces Automated ESCROW+ Solution Powered by Axis Trustee Services
  • The solution is powered by Axis Trustee Services Ltd., RBL Bank & ICICI Bank. The solution aims to address the pain points of businesses that receive funds on behalf of others or operate under a partnership model.
  • The solution also promises higher success rates and seamless payouts for businesses.Escrow account is an ideal solution for digital lending, P2P lending, gaming, e-commerce, marketplace & other such businesses that receive funds on behalf of others or operate under a partnership model.

Question:

Q.1 Which of the following banks are powering the RazorpayX ESCROW+ solution?
a. HDFC Bank, Kotak Mahindra Bank & Yes Bank
b. Axis Trustee Services Ltd., RBL Bank & ICICI Bank
c. State Bank of India, Punjab National Bank & Bank of Baroda
d. IDFC First Bank, IndusInd Bank & Federal Bank
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