Fintech major Razorpay has launched a slew of products powered by AI to scale its offerings to its merchants.
The company introduced corporate credit cards for start-up founders in partnership with Yes Bank, a buyer protection program to secure online transactions, an AI-powered payments suite for automated onboarding and financial management, and a customisable digital gift card platform.
“The future of business finance will not just be about managing money – but about making it move at the speed of ambition. And in a world where India is innovating faster than anyone can predict, the need to rewrite the rules of finance and the need for futuristic intelligent financial solutions has never been greater,†said Harshil Mathur, Co-founder & CEO, Razorpay.
Payment orchestration
Talking about Razorpay's move to the company's native integration system after severing ties with Juspay, Mathur said, “Out of the 200 merchants that utilise payment orchestration, 50 per cent have already made the transition to our native integration. The remaining 100 will be done by April.â€
This comes after major payment aggregators including Razorpay and Cashfree recently announced discontinuing their partnerships with payment orchestration platform Juspay. PhonePe was the first to announce this transition to native integration, back in December last year.
“We have been in conversation with these merchants for a while now, and the transition hasn't a complete surprise. The process to transition isn't a very complex one, and can be completed in a week's time. However, organisations have their own priorities and the only thing that they have asked for is some time,†said Mathur.
To be sure, these payment gateways do not have a direct partnership with Juspay but connect to its point-of-purchase platform when they integrate with merchant customers. Payment orchestration platforms like Juspay serve as intermediaries, enabling merchants to manage and optimize transactions across multiple payment service providers through a single integration.
On the business front, Mathur said, “Our PG business despite the large base continues to grow at a 60 per cent y-o-y, and our other verticals are growing upwards of 100 per cent.
New launches
R RazorpayX Corporate Cards offer customised spending limits, AI-driven expense tracking, and automated reconciliation to simplify financial management.
It has also launched India's first Buyer Protection Program, designed to build trust in e-commerce by safeguarding customers against fraud and non-delivery. The program enables shoppers to opt for protection at checkout, ensuring refunds in case of disputes, which can help businesses reduce cash-on-delivery dependency and boost conversions.
The company unveiled Razorpay Agentic-AI, an AI-powered payments suite that automates onboarding, integration, and financial intelligence. Features include an AI-driven onboarding assistant, a co-pilot for payment gateway integration, and real-time transaction monitoring.
Additionally, Razorpay introduced Engage Gift Cards, a customisable digital gifting platform that allows businesses to issue and manage branded gift cards while reducing discount-based promotions. It has launched it with three brands, Apple Premium Reseller, Blinkit, and Lenskart.
Razorpay plans to go public in the next two years once it achieves profitability. The Bengaluru-based firm processes around $180 billion worth of transactions every year and has reported profit in its core payments business. Overall, the company has yet to report profitability as its other businesses continue to absorb cash.
Founded in 2014 by Harshil Mathur and Shashank Kumar, the company has rasied $739 million in funding till date.
