Key Data

• Trading Name: Razorpay
• Legal Entity: Razorpay Software Private Limited
• Activities: Payment gateway
• Location: India
• Regulations: license to acquire merchants in Malaysia
• Key People: Harshil Mathur, Shashank Kumar

Razorpay is an Indian payment gateway founded by the IIT Roorkee alumni Harshil Mathur, Shashank Kumar, and their team in 2013.

Headquartered in Bangalore, India, Razorpay was founded to enable businesses and commercial enterprises to accept and process payments via APIs.

The Indian FinTech is one of the industry’s unicorns. In the financing round in 2020, raising $100M co-led by Singapore’s sovereign wealth fund GIC and Sequoia India, a valuation of more than $1 billion has been accepted by investors.

Offering

The Razorpay Product Suite today comprises verticals, along with Payment Gateway, like Payment Links, Payment Pages, Subscriptions, Smart Collect, Route, Razorpay Capital, RazorpayX, Payroll and Thirdwatch.

Razorpay processes payments for small merchants and also offers a neo-banking platform to issue corporate credit cards, among other products.

The US-based subscription platform Chargebee started a partnership with Razorpay to offer subscription billing services in India.

News

In May 2022, it has become public that the company was repeatedly hacked for months by a hacker through the faulty authorization process and thousands of dollars were stolen.

Customer Review

• The average rating on Trustpilot is 4.1 out of 5 stars based on 1,202 reviews.
• The average rating on G2 is 4.2 out of 5 stars based on 83 reviews.
• The average rating on Capterra is 4.6 out of 5 stars based on 81 reviews.
• Most customers praised the easy and fast integration, the wide range of payment options, and the responsive and helpful customer support.
• Some customers complained about the high transaction fees, the delayed or failed refunds, and the poor dispute resolution

Conclusion

Due to their recurring security issues, we put Razorpay into our “Orange Compliance” list.