Razorpay – An Indian Best Online Payment Gateway

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Razorpay is an Indian based fintech company that provides online payment gateway services to merchants, vendors and e-commerce platforms.

This is an online payment system that is created to take care ‘end to end’ payments that can also be integrated with different applications and websites.

The company was founded by IIT Roorkee alumni Harshil Mathur and Shashank Kumar.

Logo?

Razorpay Logo

Founder?

Shashank Kumar and Harshil Mathur

In 2014, Harshil Mathur and Shashank Kumar met in IIT Roorkee when the duo decided to work on a cashless platform.

However, they both realized that online payment system was a problem for SMEs and SMBs, especially the e-commerce companies. Therefore, they created this app to solve this problem.

Headquarters?

Headquartered in Bangalore (Karnataka), India.

CEO?

Harshil Mathur

May 2014 –

Website?

Link : Click Here

Registered Address?

1st Floor, SJR Cyber, 22 Laskar Hosur Road, Adugodi, Bangalore, Karnataka – 560030, India

Revenue?

Razorpay Revenue: $145.2M / year

Total Funding: $374M

Valuation: $3B

Number Of Employees?

Currently, this company believe to own an estimated 1,641 employees.

Number Of Users?

Over 8 Million Businesses use this payment gateway as per FY 2021.

Competitors?

Is Razorpay Safe?

Yes, it doesn’t save any of your sensitive information. We’ve invested massively in industry standard framework to ensure that your private data is not compromised.

What is Razorpay Fee Per Transaction?

As per standard plan designed for medium and small enterprises, Razorpay India charges 2% per transaction. However, this application also offers an company plan designed for large volumes and gives you the best prices possible for your business.

Steps To Withdraw Money From Razorpay?

  1. Launch demo checkout.
  2. Then provide your Email address and Phone number.
  3. After that Select Bank Transfer as your Payment method.
  4. Now Click Copy Details to copy the Bank Account number, Beneficiary Name and IFSC code.
  5. Then go to your preferred Net banking portal, Enter the copied details and initiate an online bank transfer.

How Do I Contact Razorpay?

  1. First, Log into the Dashboard.
  2. Then click the headphone icon to open the Help and Support pop-up.
  3. Click Chat with us.
  4. On the opened pop-up page, select the nature of your query and start chatting with our support team.

Can Unregistered Business Use Razorpay?

Razorpay empowers Freelancers and Other Unregistered Businesses with a complete online payment solution that customers instantly love.

What Documents Are Needed For Razorpay Account?

  1. Income Tax Registration (PAN Card)
  2. Government-approved identity and address Proof of Proprietor (Like Aadhar Card/DL/Passport/Voter ID)

How Do I Generate A Razorpay Key?

  1. First Log into your Dashboard with proper credentials.
  2. Then select the Live mode or Test mode for which you want to generate the API key.
  3. Now Navigate to Settings –> API Keys –> Generate Key to generate key for the selected mode.

Which Payment Gateway Is Best In India?

  1. CCAvenue Payment Gateway
  2. Razorpay Payment Gateway
  3. PayUBiz India Payment Gateway
  4. Citrus Pay Payment Gateway
  5. Zaakpay Payment Gateway
  6. Instamojo Payment Gateway
  7. Atom Paynetz Payment Gateway
  8. Direcpay Payment Gateway

Is Razorpay Payment Gateway Free?

No. this payment system charges a standard fee to customers for using its payment gateway.

Importance Info?

Razorpay Customer Care Number – 1800 123 1272 (Toll Free)

For any support Click Here

Razorpay share price – Click Here

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[…] Click here for Razorpay – An Indian Best Online Payment Gateway […]

ac nad
ac nad
2 months ago

Hello

Abhinash kr. Roy
Abhinash kr. Roy
1 month ago

Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.
RazorpayX supercharges your business banking experience, bringing effectiveness, efficiency, and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, supercharge their payouts and automate payroll compliance.
Manage your marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans – all from a single platform. Fast forward your business with Razorpay.

Management Sources :

HARSHIL MATHUR – Director

AMRESH TIWARI – Company Secretary

SHASHANK KUMAR – Director

Press:

Razorpay Startup: Funding Sources
Y Combinator- Razorpay got $120,000 in funding added with acceleration support and guidance for 3 months from Y Combinator and other investors/mentors after taking part in Y Combinators W15 cohort in Silicon Valley In 2015.
Seed Funding- It received $2.6 million in funding in a seed investment round. It got funded by Y Combinator, Matrix Partners India, Soma Capital, Rohit Bansal, Ram Shriram, Tikhon Bernstam, Michael Sutcliff, Punit Soni, Sandeep Tandon, Punit Soni, and Naveen Tewari on March 23, 2015.
Series A- The firm raised $9 million in its Series A investment round. It was funded by their lead venture capitalist, Tiger Global Management and Matrix Partners India, on October 27, 2015.
Razorpay got an investment funding round with $100,000 in funding from MasterCard on July 1, 2016.
Series B- It raised $20 million in the Series B investment round. It got funded by Y Combinator, Tiger Global Management, and Matrix Partners India on January 15, 2018.
Series C- The organization received $75 million in its Series C investment round from Y Combinator, Tiger Global Management and their lead investors, Ribbit Capital and Sequoia Capital India, on June 18, 2019.
Razorpay Capital raised monthly credit expenditure from Rs 300 crores to Rs 800 crores through venture capitalists in 2020.
Series D- It raised $1 000,000,000 in Series D venture round. It got funded by Sequoia Capital India, Ribbit Capital, GIC Pte Ltd, Matrix Partners India, Y Combinator and Tiger Global Management.
Series E- The company raised $160,000,000 in its Series E investment round. It was funded by Sequoia Capital India and GIC Pvt. Ltd taking its valuation to $3,000,000,000 on April 19, 2021.
RazorPay: Payment Methods
Also, RazorPay provides several other products such as:

RazorpayX – It provides businesses with a total working current account. It can use this account to automate share invoices, automate bank transfers, payroll, etc.
RazorpayX Payouts – With the help of this, businesses can distribute payments quickly and smoothly for customer payouts, vendor payouts, and employee salaries.
Razorpay Capital – It provides businesses instant loans to resolve their cash flow issues.
RazorPay: Revenue Model
The transaction fees for RazorPay in the Standard Plan of RazorPay are:

3% transaction fee + GST on every transaction, which is done through Diners and Amex cards, other international cards, EMI’s and business credit cards.
2% transaction fee + GST on every transaction which is done through Indian consumer net banking, credit and debit cards, UPI, and E-wallets
RazorPay: Expansion
Since the initiation of Razorpay, it reported a rapid increase in the growth rate, and now, it influences more than 170,000 small & large businesses
Razorpay has big-name clients such as NSE, Vogue India and Aditya Birla Capital
It registered an active growth rate of 15% to 20% month-on-month and alleges to increase at 30% to 35% month on month
The merchant count had increased to 300,000, and it received a 500% growth in 2019.
Razorpay influences payments for above five million businesses, like the likes of Facebook, BookMyShow, Airtel, Facebook, Zomato, Swiggy, Ola, and Cred and aimed to hit 10 million by the end of 2020
Razorpay Payment: Business Model
RazorPay charges 0.25 to 0.5 per cent fees on every contribution collection transaction done via their gateway.
The Razorpay 2.0 product suite supplies around 30% of the total revenue generation of the firm. Now, it wants to grow its average product adoption from one to two.
The RazorPay team wants Razorpay Capital and RazorpayX to add about 35 per cent of the company’s credit.
RazorPay: Achievements
RazorPay has achieved many awards and recognitions for its great and efficient work.

Razorpay was selected as the second startup in India for Y Combinator.
It achieved the NASSCOM ‘League of 10’ Companies in 2016.
It received the Bronze Award for the Best POS Innovation by PYMNTS.com in 2017
It was considered as one of India’s Top 50 Mid-Sized Workplaces in the category of “Great Places to Work” in 2017
It was awarded as a runner up for the “Financial Express Software Product of the Year” in 2017
The co-founders, Shashank and Harshil, got selected for the ‘Forbes 30 Under 30’ in 2017
It received an award by IAMAI as the “Best Digital Payment Facilitator” by 2018
It received an award by LinkedIn as India’s 25 “Most Sought-after Companies to Work for” in 2018.

Abhinash kr. Roy
Abhinash kr. Roy
1 month ago

Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.

RazorpayX supercharges your business banking experience, bringing effectiveness, efficiency, and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, supercharge their payouts and automate payroll compliance.

Manage your marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans – all from a single platform. Fast forward your business with Razorpay.

Management :

HARSHIL MATHUR – Director

AMRESH TIWARI – Company Secretary

SHASHANK KUMAR – Director

I’ve received this useful data from Altius Investech.

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