Razorpay has solidified its position as a leading fintech platform in India, offering comprehensive payroll solution, digital payments tailored for businesses of all sizes. Founded in 2014 by Harshil Mathur and Shashank Kumar, the Bengaluru-based company has been instrumental in driving the country’s digital financial transformation.
At the core of Razorpay’s offerings is its robust payment gateway, enabling businesses to accept payments through various channels, including credit/debit cards, UPI, net banking, and digital wallets. This versatility ensures that companies can cater to a wide customer base with diverse payment preferences.
Beyond payment processing, Razorpay has introduced ‘Razorpay X’, a neobanking platform that streamlines banking services, vendor payouts, and automated accounting. This platform is designed to simplify financial operations for businesses, allowing them to manage their finances more efficiently.
What is Razorpay?
Founded in 2014 by Harshil Mathur and Shashank Kumar, Razorpay is a Bengaluru-based fintech company offering secure and reliable payment processing services. It is now a household name for startups, SMEs, and enterprises looking for end-to-end financial infrastructure.
Understanding the complexities of payroll management, Razorpay offers a cloud-based payroll solution that automates employee salary processing, tax calculations, and compliance requirements. This tool is particularly beneficial for small and medium-sized enterprises (SMEs) seeking to optimize their human resource operations.
Razorpay ensures ease of access for its users through dedicated login portals for both payment and payroll services. For developers, the company provides ‘Razorpay Docs’, a comprehensive hub containing integration guides and API documentation, facilitating seamless integration of Razorpay’s services into various platforms.
Customer Support and Service Charges
The company offers robust customer support through its website’s help section and support tickets, ensuring that clients receive timely assistance. Razorpay’s transaction charges typically range from 1.75% to 2.5%, varying based on the payment method used.
In a significant move, Razorpay is in the process of shifting its headquarters from the US back to India, aligning with its plans to go public by 2026. This transition reflects the company’s commitment to strengthening its presence in the Indian market.
At the FTX 2025 event, Razorpay unveiled several new offerings, including a corporate card in partnership with Yes Bank, a buyer protection program, and AI-powered tools like ‘RAY’ for customer onboarding and developer support. These innovations aim to enhance user experience and operational efficiency.
Financial Performance and Growth
Razorpay reported a 24% growth in revenue for FY24, reaching Rs 2,068 crore, with a net profit of Rs 35 crore. The company’s total payment volume (TPV) has reached an annualized $180 billion, underscoring its significant role in India’s digital payment ecosystem.
Razorpay continues to be at the forefront of India’s fintech revolution, offering innovative solutions that cater to the evolving needs of businesses. With its focus on enhancing digital payments and payroll management, coupled with recent strategic developments, Razorpay is poised to further strengthen its position in the market.
