Launch year: 2014
Country: India
Tags:
Funds raised: $124.7 million

Razorpay – Payment Gateway for Online Payments

Concept description

Razorpay is a platform that enables businesses to accept, process and disburse payments with its product suite. In other words, it gives access to all payment modes including credit card, debit card, net banking, UPI and popular wallets. As an example, they include JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.

Value proposition

Razorpay aims to revolutionize money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration. To clarify, it offers a fast, affordable and secure way for merchants, schools, ecommerce and other companies to accept and disburse payments online. It also enables to own a fully-functional current account. In addition, it avails working capital loans.

Razorpay’s business banking arm, RazorpayX, brings effectiveness, efficiency and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, then supercharge their payouts and finally automate payroll compliance.
Clients can also manage their marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans – all from a single platform.

The company’s business model can be better explained by examining each of its business lines individually:

  • Razorpay Payments – Accept payments
  • RazorpayX – Automate banking operations
  • Razorpay Capital – Offer working capital loans

Illustration (Video)

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