Golang At Razorpay
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.
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 an amortization function, which is not found in NumPy-financial.
- NumPy-financial functions can accept Scalar, Array of Floats, or Decimal as input. However, Go-Financial functions accept only scalar Decimals as inputs.
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-
- Golang at PayPal For Modernizing And Scaling
- Golang At Stripe — An Irish-American Financial Services and SaaS company
- Why American Express Uses Golang?
- Stream Switched From Python To Golang
- Uber Engineered Highest Query Per Second Using Golang
- Netflix Uses Golang For Rend Proxy
- Golang in Blockchain
- Things You Need to Know About Golang For Web Development
- Here Is Why Golang Is One Of The Preferred Technology For Your Project
- Some Interesting Facts and Takeaways from Golang Surve
Author: Reemi Shirsath COO @ Scalent.io — A Golang Specialized Development Company.
