Razorpay is the only cloud-based solution in India designed to process, accept and disburse payments through vendor payouts and payment gateways. With its headquarters based in the city of Bengaluru, this mode of payment is only available in the Indian region and was founded by the group of IIT Roorkee alumni in 2014.
Razorpay is considered to be the ‘middleman’ or an in-between payment mode that combines more than one banking system. It enables businesses to accept payments through various forms of transactions. In a nutshell, this payment system allows for different banks and wallets to be connected to it, making payments easier for everyone in India. This means that your depositing and withdrawal options are endless. You can deposit and withdraw money using Debit Card; Credit Card; Netbanking; Unified Payments Interface (UPI); Equated Monthly Installments (EMI); Cardless EMI; Bank Transfer; Emandate; Pay Later and various e-wallet providers.
Apart from the payment gateway, Razorpay provides additional features and benefits for companies and small businesses alike, such as providing the merchant with an opportunity to automate bank transfers, invoices, and offering over 100 payment and withdrawal methods.