RazorpayB69
Payment Processor · Indian businesses, from a first online store to an enterprise, that want every domestic payment method thro…
Overview
If you sell to Indian customers online, Razorpay is the default choice for a reason: one integration covers cards, UPI, netbanking, wallets, EMI and Pay Later, the fee is a single published number, and the developer tooling is the best in the market. Treat it as an aggregator rather than a merchant account, though. Your funds sit under Razorpay's licence, and the recurring complaint from small merchants is a sudden compliance hold with templated replies and no timeline. Businesses processing more than ₹5 lakh a month should negotiate rather than accept the rate card, and every merchant should keep the KYC file complete before volume spikes, because that is what triggers the reviews.
Best for: Indian businesses, from a first online store to an enterprise, that want every domestic payment method through one integration at a flat published rate; SaaS and marketplace operators who need subscriptions, payment links, split settlements (Route) and virtual accounts (Smart Collect) from the same vendor; developers who value documentation and SDKs.
Strengths
- + One published number for domestic payments — 2% plus GST across cards, UPI, netbanking and wallets, 3% for premium methods — with no setup fee, no annual charge, no minimum and free refunds, plus a 0% introductory period for merchants activating from July 2026.
- + The broadest domestic method coverage in India through a single integration, including UPI, EMI, Pay Later and every major wallet, with a checkout that Razorpay reports as market-leading on conversion.
- + Developer experience is the strongest in the market: complete documentation, SDKs for every major stack, webhooks, a test mode and plugins for the mainstream e-commerce platforms.
- + Fully licensed: RBI online payment aggregator (December 2023), cross-border (December 2025) and physical POS (January 2026), plus Bank Negara Malaysia authorisation for Curlec in Malaysia.
- + Collections, subscriptions, split settlements, virtual accounts, payouts, corporate cards and payroll on one platform, which removes several vendors for a growing company.
Trade-offs
- – Support and holds are the recurring complaint: a Trustpilot score of 1.4 from 449 reviews, 73% of them one star, dominated by accounts limited during compliance reviews, settlements held for weeks or months and templated replies.
- – It is an aggregator, so the merchant account is Razorpay's, not yours; a hold or termination is decided by its compliance team and there is no acquiring bank to escalate to.
- – The Reserve Bank of India barred Razorpay from onboarding new online merchants for a year, from December 2022 until its final aggregator licence in December 2023 — resolved, but a reminder that its ability to sign customers depends on its regulator.
- – International acceptance is comparatively expensive at up to 3% plus GST with settlement around a week later, and the business is built for India, with Malaysia (Curlec) and Singapore the only other markets.
- – Only the headline rates are public: instant settlement, Route, Smart Collect, UPI AutoPay, e-mandates and POS are all 'contact sales', and the chargeback fee is not published at all.
Fees in detail
- Online rate: 2% platform fee plus 18% GST on the fee for domestic credit and debit cards, UPI, netbanking, wallets and Pay Later (about 2.36% all-in); 3%
- International: International cards 3% plus GST (the pricing page says 'up to 3%'), with optional chargeback protection for a further 1%; international bank
- Disputes: Not published on the pricing page; the chargeback guide describes the process without a fee schedule.
Standard published rate for a domestic online card payment. Confirm current pricing on Razorpay's pricing page.
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