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PayU rolls out MCP server to integrate AI assistants, payment systems
Razorpay and Cashfree Payments rolled out the offering for their customers earlier this month.
An MCP server acts as a bridge to communicate between AI assistants — such as Claude or VS Code — and the company's payment gateway.
Think of it like a 'universal connector' — in other words, like a USB-C port — that allows different software systems to work together easily. This enables AI agents and assistants to interface directly with core application programming interfaces (APIs), streamlining integration for merchants of all sizes.
PayU said early use cases include generating payment links, emailing invoices to customers, fetching payment status using invoice IDs, and checking transaction or refund statuses.
The company said it was expanding the MCP server's capabilities to include the ability to create invoices and orders through AI assistants and to onboard customers efficiently.
'The future of payments lies in intelligent automation and seamless integrations with advanced tools including GenAI platforms. With our latest MCP server, we are taking a leap forward in payments technology, enabling businesses to make their financial operations simple, more efficient, all while ensuring the highest standards of security,' said Narendra Babu, Chief Technology Officer at PayU.
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Economic Times
6 hours ago
- Economic Times
The future of Indian retail is AI and omnichannel: A preview from ET Soonicorns Summit 2025
ET Special You're browsing for a new pair of spectacles. The website instantly filters styles based on your face shape, recent screen time habits, and even suggests blue-light blocking lenses for your late-night scrolling. Before you click 'add to cart,' it shows you how each frame would look on your face, using your past selfies and purchase history. It's a working day. A nudge on your phone offers a personalised bundle—your favourite brand of sneakers, now paired with curated accessories based on your last purchase. At checkout, there's no queue. You're recognised, and your payment goes through seamlessly. The above scenarios are not pages from sci-fi. They are glimpses of predictive and precision retail. All thanks to artificial intelligence or AI. Welcome to the good, the bad, and the ugly of the Indian retail landscape, caught in the throes of a seismic shift. The era of one-size-fits-all storefronts and generic marketing is rapidly fading, replaced by a new paradigm where the customer experience is not just king, but the entire kingdom. Traditional storefronts and generic campaigns are giving way to hyper-personalised, data-driven experiences powered by AI in retail. Today, building a loyal customer base means delivering not just transactions but tailored, predictive, and omnichannel shopping experiences that resonate deeply across digital and physical touchpoints. This is the new retail battleground, and AI is the weapon of choice. This critical transformation will be the focal point at the ET Soonicorns Summit 2025, scheduled for August 22 in Bengaluru. A pivotal session, 'AI-Driven Personalisation and Omnichannel Commerce: The Next Retail Battleground,' featured under the track 'From Pilot to Product-Market Fit', will convene some of the most influential minds from India's retail and technology sectors to dissect this revolution. The conversation will explore how startups and incumbents alike are leveraging AI to craft bespoke customer journeys, implement dynamic pricing, and orchestrate seamless omnichannel strategies to elevate the retail experience. The panel features a powerhouse trio, each at the helm of this change within their respective domains: Venu Nair, Chief of Strategic Planning and Omnichannel, Myntra Ankit Gupta, VP, Head of Product & Tech, Reliance Retail Rahul Kothari, COO, Razorpay The hyper-personalisation imperativeThe modern consumer is inundated with choices, and their attention is the new currency. To capture it, retailers must do more than just sell a product; they must sell an experience. This is where hyper-personalisation—the use of real-time data and AI to deliver highly tailored interactions—becomes essential. Deloitte's June 2024 report, titled Personalising Growth: It's a Value Exchange Between Brands and Customers, reveals that brands excelling at personalisation are 48% more likely to exceed revenue goals and 71% more likely to improve customer loyalty. However, the research also finds a significant gap between brand intent and customer perception: while brands believe 61% of touchpoints are personalised, only 43% are recognised as such by consumers, which makes the ET Soonicorn Summit panel on AI and personalisation all the more timely. In fact, the Indian market reflects this global trend with a unique intensity. The AI in the Indian retail market is projected to skyrocket from USD 216.26 million in 2023 to nearly USD 2.97 billion by 2032, per data released by Credence Research. This is propelled by the insatiable demand for personalised shopping. A recent study from Zebra Technologies' 17th Annual Global Shopper Study found that 77% of Indian shoppers now prefer retailers that provide tailored recommendations powered by AI. This is not a future-state desire; it is a present-day demand. However, personalisation is only one half of the equation. The other is creating a cohesive experience across every touchpoint, a strategy known as omnichannel commerce. As the lines between online and offline blur, customers expect to transition seamlessly between a brand's app, website, and physical store. Recent data indicates that omnichannel retail in India has been growing approximately 50% faster than single-channel retail formats, while 73% of customers use multiple channels—such as online, in‑store, and mobile—before making a purchase decision. These findings reflect evolving consumer behaviour, highlighting the importance of integrated retail strategies in India's market. Hence, this fusion of AI-driven personalisation and omnichannel execution is the definitive challenge for Indian retail. The stakes are monumental. The Indian retail market is expected to reach US$1.4 trillion by 2024, according to a report by NASSCOM. Brands that successfully harness AI to deliver a unified, intelligent, and personal customer journey will capture a disproportionate share of this growth. Those who fail will be left behind. Retail and tech heavyweights bring battle-tested expertise The speakers for this session bring a wealth of in-the-trenches experience, representing the convergence of fashion e-commerce, large-scale physical and digital retail, and the financial technology that underpins it Nair helms strategic planning and omnichannel initiatives at Myntra, a company synonymous with fashion e-commerce in India. With a vast catalogue of over 2.3 million styles, Myntra has made AI a core part of its strategy to solve the challenge of product discovery. The company employs sophisticated AI tools such as MyFashionGPT and My Stylist to offer personalised style recommendations, allowing users to have a more meaningful, discovery-led shopping experience. Myntra's generative AI assistant, built on Microsoft Azure OpenAI Service, helps users shop with open-ended natural language queries, such as 'what to wear for a festival,' leading to a threefold increase in the likelihood of purchase for those who use it. Nair, a retail veteran with over three decades of experience at giants such as Shoppers Stop, Westside, and Marks & Spencer, is tasked with managing and expanding this omnichannel strategy, making his insights into blending digital innovation with physical retail Gupta, as the VP and Head of Product & Tech at Reliance Retail, operates at an unparalleled scale. Reliance Retail operates over 18,650 stores and a vast digital ecosystem. The company's strategy is deeply rooted in creating a seamless omnichannel model with a common inventory that enables hyper-local delivery. Gupta's teams utilise AI and ML across the entire value chain—from product recommendations, demand forecasting, and supply chain optimisation to automated replenishment and customer support chatbots. The goal is a 'zero-touch' self-optimising network that enhances customer experience through deep technology Kothari, the Chief Operating Officer of Razorpay, provides a critical and often overlooked perspective: the payment layer that enables commerce. A seamless checkout is the final, crucial step in the customer journey. Razorpay has aggressively pursued an omnichannel strategy, acquiring point-of-sale (POS) firm Ezetap to merge online and offline payment experiences. The company is focused on building a system where a customer's identity is unified across channels, allowing for personalised payment experiences. As COO for India and Malaysia, Kothari's role involves enhancing this seamless customer experience across all of Razorpay's business lines. His focus on reducing friction in transactions and leveraging data to improve conversion rates is essential for any retailer looking to optimise their omnichannel operations. ET Soonicorns Summit 2025: India's premier gathering of future unicorns The Economic Times Soonicorns Summit 2025, India's largest congregation of soon-to-be unicorns, returns to Bengaluru on August 22 for its fourth edition. This premier event brings together founders, VCs, CTOs, and policymakers under the theme 'From Research Labs to Revenue Models: The Billion-Dollar Blueprint for Scaling Indian AI Startups.' As India's startup ecosystem matures, with AI as its definitive growth engine, the ET Soonicorns Summit 2025 serves as a strategic launchpad. The Summit promises not just to highlight trends but to deliver actionable insights for anyone building the next AI-powered unicorn or investing in India's deep-tech future. The discussion on AI-driven retail is more than just an academic debate; it's a playbook for survival and growth in one of India's most dynamic sectors. For founders, product leaders, and investors, this session represents a unique opportunity to learn from the leaders who are defining the future of commerce. It's where the blueprint for India's next generation of retail champions will be drawn. Registration for the ET Soonicorns Summit 2025 is now open. 360 ONE is the Presenting Partner of the ET Soonicorns Summit 2025, with Raymond as the Wardrobe Partner and Shiv Nadar University as the Ecosystem Partner. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. 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Time of India
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- Time of India
TVS Jupiter 110 road test: Sharper, smoother, still sensible
TVS Jupiter 110. The TVS Jupiter has long been a sensible nameplate choice in India's scooter market. Last year, TVS gave the baby Jupiter 110 a big update, and it's been doing really well for the brand since then. Back when it was launched, we had a short spin on the company's test track, but that's never the full picture. So this time, we've lived with it in the real world: riding it in the city for a couple of months. From daily office commutes to quick grocery runs, and even the occasional spirited ride on empty stretches of road, we've put it through everything. And here's how it has fared. TVS Jupiter 110: Design and practicality Speaking about the new Jupiter 110, the first thing that catches your eye is the design. It's no longer just a plain-looking family scooter. The sharper LED DRL upfront with integrated indicators, the neatly designed side panels, and the slim LED tail-light bar all give it a more upmarket look. 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Most of the time I found myself depending on the front brake, and it had enough bite to scrub off speed quickly while keeping the scooter balanced and composed. Even during hard stops, it never felt nervous. Speaking of hard stops, TVS has also added an Emergency Brake Alert system. So, when you brake hard, the tail-light flashes to warn vehicles behind you. Of course, a small but very thoughtful touch. Royal Enfield Scram 440 Walkaround: More Muscle, Smarter Tech! | TOI Auto TVS Jupiter 110: Verdict Living with Jupiter 110 has been surprisingly easy. Daily office runs and quick market trips, it has handled all of it without fuss. The combination of stability, comfort, and practicality makes it a very usable machine for NCR life, and other cities alike. All things considered, the 2024 TVS Jupiter 110 comes across as one of the most well-rounded scooters in its class. It looks sharper than before, rides with more confidence, and comes loaded with practical features that make everyday city life easier. Fuel efficiency is impressive, comfort is right up there, and the overall fit and finish give it a more premium feel. If you're in the market for a 110cc scooter, the new Jupiter 110 is definitely worth a serious look. Discover everything about the automotive world at Times of India .
Time of India
11 hours ago
- Time of India
Anthropic's Claude 4 gets feature to cut off abusive user interactions
Synopsis Anthropic framed the move as part of its ongoing research into AI welfare. When Claude ends a conversation, the user can no longer send new messages in that thread.
