Razorpay

What is Razorpay?

Razorpay is a payments and business banking platform for businesses in India that accepts online payments, runs payouts and offers banking tools through RazorpayX. It covers a payment gateway, payment links and pages, a POS, subscriptions and international payments. The vendor says it serves 150,000+ businesses in India.

Key features of Razorpay

• Payment Gateway: cards, UPI, netbanking and wallets, with the gateway page claiming 100+ methods.
• No-code tools: Payment Links, Payment Pages and Payment Buttons collect money without a website.
• Subscriptions and recurring billing: card subscriptions, with UPI and mandate options on request.
• Smart Collect and Route: virtual-account collections and split payments for marketplaces.
• RazorpayX: API and bulk payouts, current accounts, corporate cards, forex management and payroll.
• Optimizer and Magic Checkout: AI-powered payment routing and a faster checkout, both on custom pricing.
• POS and QR Codes: in-store card and UPI acceptance.

How Razorpay works

Merchants integrate the REST API, webhooks and SDKs, or use no-code links and pages, to accept payments from customers. Collected funds settle to the merchant, who can pay out to vendors and employees through RazorpayX. Razorpay Payments Private Limited is an RBI-authorised Payment Aggregator, and the vendor states it is PCI DSS compliant. RazorpayX current accounts are powered by partner banks.

Who uses Razorpay?

Razorpay serves online and offline businesses in India, with named customers on its site including Swiggy, Zomato, BookMyShow, Zepto and Lenskart. Developers use the APIs, while small sellers use payment links and pages, and finance teams use RazorpayX for payouts, banking and payroll.

Razorpay pricing

Razorpay publishes its India rate card. Domestic payments cost 2% per successful transaction plus 18% GST, with Rs. 0 setup, annual maintenance and refund fees, and corporate credit cards at 2.15%. International cards cost up to 3%. UPI QR codes are 0.99%, Smart Collect is 1% or Rs. 10 (whichever is lower), Route is 0.1% plus platform fees and card subscriptions are 0.9% plus platform fees. Magic Checkout, Optimizer and TokenHQ use custom pricing, as do enterprise merchants processing over Rs. 5,00,000 a month.

Razorpay integrations

Razorpay offers a REST API, webhooks, an OpenAPI spec and SDKs for major platforms, plus workflow nodes for n8n, Replit and Vercel and accounting software integrations.

Razorpay alternatives

PayU and CCAvenue are established Indian payment gateways with their own rate cards. Mollie is a European gateway with limited India focus. Zoho Checkout is a simpler option for Zoho users, and Hitpay and Zaakpay target smaller merchants.