Razorpay payment gateway: All you need to know


With Razorpay, whether its an e-Wallet like JioMoney, or a debit/ credit card, bank transaction or UPI, the customer can choose whichever is best for them. But if you are looking to do business outside India, Wise for business can help you conveniently receive payments from your international clients.

Razorpay is a popular payment solution provider available to businesses selling online in India. Founded by IIT Roorkee alumni, Razorpay is fueled by investments from Y Combinator, Matrix Partners and Tiger Global Management. And now, Razorpay has over 200,000 businesses using its payment gateway.¹

Razorpay is only available to Indian businesses that take online payments. With a focus on technology, they have also made the platform easy to integrate into a merchants website and has API-driven automation.

If you are a small to medium-size Indian business who is also looking to scale your team or sales outside of India, check out Wise for business. You get account details for receiving payments in 8 foreign currencies that enable your international clients to pay you with a local transfer from their end.

Razorpay payment gateway pricing and charges

Razorpay offers two pricing plans- a Standard Plan and an Enterprise Plan.

The Enterprise plan is a customized plan for businesses that have large transaction volumes. With the Enterprise plan, you get 24x7 support and by submitting the appropriate documentation, your account can be online and activated within 24 hours. Plus, you get a Key Account Manager from Razorpay to help you use the platform optimally. The price and charges for the Enterprise plan are dependent on your nature of business and it’s scale, and can only be pinned down once you’ve had a conversation with an account manager.

Most businesses will more likely fall under the Standard Plan at Razorpay. Let’s take a deeper look at the Standard Plan.

Best Suited For Startups, Small and Medium Enterprises
One Time Setup Fee ₹0.00
Annual Maintenance Fee ₹0.00
Indian Credit Cards, Indian Debit Cards, Net Banking from 58 Banks, UPI, Wallets including Freecharge, Mobikwik etc. 2% per transaction
Diners and Amex Cards, International Cards, EMI 3% per transaction
Key Features
  • Email, Chat and Call Support Available
  • Completely online paperless activation
  • Access to new features

So in the Standard plan, with the no-cost setup or maintenance, you only have to pay a fee when payments come through. In both cases, you will get the Razorpay Dashboard that will provide you reports, detailed statistics on payments, settlements and easy refunds to help you manage your business.²

Receive business payments from abroad? Check out Wise.

Many businesses use PayPal to receive international payments. PayPal inflates its exchange rates when sending and receiving international payments, making it hard to see what you're actually being charged. With Wise, you are always getting the real mid-market exchange rate and transparent upfront fees without any hidden markups. Open a Wise Business Account and see how much you can save.

Payment options supported with Razorpay

Razorpay has hundreds of payment options available, including India-specific options like UPI and Bharat QR. They have 50+ Netbanking options for Indian banks like SBI, ICICI, HDFC, Axis Bank, Kotak, and Yes Bank, as well as options for NEFT, RTGS, and IMPS for bank transactions. EMI on cards is also available for customers that want to pay in monthly installments on major bank credit cards. Plus, Razorpay has 9 payment wallets like JioMoney, Mobikwik, Freecharge and Ola Money to choose from as well. All major credit and debit card networks like Visa, Mastercard, American Express and Rupay are available, including international cards.³

Razorpay payment gateway international payments

Razorpay can accept cards issued by all major international banks, and the payment will settle in the merchant account in Indian rupees. You can choose to display your prices in over 90 foreign currencies. The exchange rate of the payment is determined by Razorpay’s banking partners and can often be expensive to you as the merchant or your international customers.

At T+7 business days, international payments take a bit longer to settle in merchant bank accounts. With “T” being the day the payment has cleared from the customer. If you do want it faster, you can reach out to Razorpay to get early settlements with a cost of 1%. To start accepting international payments, you will need to enable the service on your Razorpay dashboard.⁴

Razorpay payment gateway settlement

Settlement is the time and process it takes for the money to process through the payment gateway and end up in your bank account. Every payment gateway has a different process that is particular to their technology and system. With Razorpay, the settlement is completely automated and takes T+3 business days for domestic transactions, with T being the date the payment is captured in the system. You can always check the status of your settlement on the Razorpay Dashboard under “Settlements” and each settlement will have a Unique Transaction Reference number or UTR to track it.⁵

Razorpay payment gateway customer care

Razorpay has an easy to use website for customer care support. You can track a refund status, raise a request, file a grievance or search their knowledge base on their website and through your dashboard. If you do want to speak with someone directly, you can reach their customer care line at 1800-123-1272 from Monday to Friday, 9am-6pm.⁶

Let Wise take care of your international payments

Your business is no longer restricted by country lines, so why do your payments have to be? Wise for business makes it easy for you to receive money in 8 foreign currencies.

Your clients pay you with a local transfer in their currency, and you receive rupees in your INR bank account — with eFIRC for every transfer.

Get started with a Wise Business Account, and save with a low-cost transfer fee and mid-market exchange rate - which is the same as the one you see on Google.

Open your Wise Business Account

Sources used for this article

1 Razorpay About
2 Razorpay Pricing
3 Razorpay Payment Methods
4 Razorpay Know More
5 Razorpay Settlements
6 Razorpay Support

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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