Golang At Razorpay For - Amortization Schedule
Before we start with the understanding of how Razorpay uses Golang for the Amortization Schedule, Let us understand what is Razorpay and Amortization Schedule
What is Razorpay?
It is the first full-stack financial solutions company, that allows businesses to accept, process, and disburse payments with its product suite. Razorpay has grown from being a payment gateway provider to a solutions-driven organization boasting an extensive products suite to accept and disburse payments as well as raise capital and park money.
Razorpay offers a fast, affordable and secure way for merchants, schools, e-commerce, and other companies to accept and disburse payments online.
Razorpay gives you access to all payment modes including credit card, debit card, net banking, UPI, and popular wallets.
What is an Amortization Schedule?
It is the record of your loan payments that shows the interest included in each payment along with the principal amount. The Amortization schedule helps you with the details of all the payments until the end of the loan term. The last line in the records should show the total interest that you have paid along with your principal payment for the full term of the loan
Amortization Schedule?is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.
* source: Investopedia
Golang At Razorpay -
At Razorpay they build a suite of next-generation lending products like Loans, Advances, Corporate cards, etc. Each of these products is powered by their Automated Collection System and for that, they needed an Amortization Schedule Generator. So they were searching for an Amortization Schedule Generator in?Golang. In other languages, there are libraries available like NumPy-financial but they could not find any packages in Golang.
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And this is when the Razorpay team decided to build packages by themselves
" Go-Financial"— A pkg for elementary financial functions,
Go-Financial?is a go-native port of the NumPy-financial library and includes an amortization schedule generation. Where you can utilize both the Low-level function (Financial Calculations )and high-level function (amortization functions).
The feature of Go-Financial lies closely with NumPy-financial offerings with a few?differences:-
Go-financial implements some of the functions defined in?OpenFormula.
Read more about the article from the original source?here
You can also read more articles about Golang Usage/Application here-
Author:?Reemi Shirsath COO @?Scalent.io?-?A Golang Specialized Development Company.
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1 年That's interesting! It's great to see companies like Razorpay leveraging Golang for their development needs. Golang's efficiency and simplicity make it a popular choice for building robust and scalable applications. I'll definitely check out the link to learn more about their usage of Golang. #Golang #GolangAtRazorpay #golangdevelopmentcompany #GolangAtScalent #Scalent
Incoming GM Analyst Intern @ Nomura | IIT Kharagpur | CFA L2 candidate
1 年It's interesting to learn that Razorpay has developed its own package, go-financial, using Golang. The utilization of Golang showcases their commitment to leveraging efficient and robust technologies. To gain more insights into Golang at Razorpay, please follow the provided link. #Razorpay #GolangDevelopment #GoLangAtRazorpay
Student at IIT Kgp
1 年It's interesting to learn that Razorpay has developed its own package called go-financial using Golang. Golang is known for its efficiency and performance, making it a suitable choice for building robust financial systems. If you want to explore more about Golang at Razorpay, you can visit the provided link. #Golang #GolangAtRazorpay #GolangDevelopmentCompany #GolangAtScalent #Scalent Culture OS