Razorpay is a full-stack financial solutions company based in India, specializing in providing online payment gateways and banking products to businesses of all sizes.
Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay set out to democratize online payments for Indian businesses, especially startups and SMEs that were previously underserved by traditional banks and payment providers. Over the years, Razorpay has grown into a comprehensive fintech platform that transforms how companies manage money — from accepting online payments to automating payouts and managing financial operations.
Today, Razorpay offers a diverse suite of products, including:
- Payment Gateway: Enables businesses to accept payments via credit/debit cards, UPI, net banking, wallets, and international payment methods.
- RazorpayX: Business banking platform for payroll, vendor payments, and automated payouts.
- POS Devices: Through its acquisition of Ezetap, Razorpay provides in-person payment solutions for offline merchants.
- Recurring Payments & Subscriptions: Tools for businesses to automate subscription billing and recurring charges.
- Fraud Prevention and Tokenisation: AI-driven fraud detection (from Thirdwatch) and tokenisation solutions for secure transactions.
- International Payments: Via Curlec by Razorpay, supporting cross-border transactions for Indian exporters and global businesses.
Razorpay has introduced several industry-first innovations in India, such as fully digital onboarding for merchants, early support for UPI and Bharat QR, recurring payments automation, and credit card support on UPI. The company also collaborates closely with banks and regulators to ensure secure, compliant, and seamless money movement.
Who uses Razorpay?
Razorpay powers payments for a broad spectrum of customers, from small kirana shops in remote regions to major startup unicorns and large enterprises. The company reports serving 76 out of 100 Indian startup unicorns and millions of businesses across the country. Its solutions cater to:
- Startups and SMEs seeking easy digital payment acceptance
- Large enterprises requiring custom payment flows and automation
- Offline retailers using POS solutions
- Exporters managing international transactions
The technology and market trends behind Razorpay's growth
Razorpay leverages modern APIs, cloud infrastructure, and AI-driven risk management to deliver scalable, reliable, and secure financial products. Its rapid development and deployment of new payment methods (like UPI, tokenization, and automated payouts) coincide with India's digital transformation and a booming fintech sector. Razorpay’s acquisition strategy has expanded its product reach, bringing in payroll, customer engagement, loyalty management, and advanced fraud prevention capabilities to its platform.
Who are Razorpay's competitors?
Razorpay operates in the fintech and payments processing space, both within India and internationally. Key competitors include:
- Stripe: A global payment processor offering online and in-person payments, financial infrastructure, and extensive API integrations.
- Authorize.net: Provides payment processing for small businesses, including online, mobile, and in-person transactions.
- GoCardless: Specializes in recurring payments and direct debit solutions, primarily in the US and Europe.
In India, Razorpay also competes with established banks’ payment gateways and local fintechs, but its focus on a full-stack, API-driven platform and breadth of innovation has positioned it as a leading player in the region’s digital payments ecosystem.
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