Razorpay review: products, technology, pricing (2026)

Razorpay is an Indian payments company that lets businesses accept cards, UPI, netbanking, wallets and EMI through a single API or no-code tools, and it adds business banking, payroll and checkout products around that core. Its pricing page leads with a 2% plus GST rate, and it says it holds Reserve Bank of India authorisations for domestic and cross-border payment aggregation.

At a glance

How the platform works

Razorpay acts as a gateway and aggregator between a merchant and India's payment rails. A merchant creates an order through the API, the customer pays in Razorpay's checkout (or a hosted page, link or QR code), and the customer's bank authenticates the payment. Razorpay then notifies the merchant by webhook and settles funds to the merchant's bank account on the agreed cycle. The FAQ says captured payments settle automatically and that, if a payment fails but the customer is debited, the issuing bank auto-refunds within T+7 working days.

Razorpay says its checkout is PCI DSS Level 1 compliant and that the dashboard combines payments, refunds, settlements and analytics. The February 2024 Payment Gateway 3.0 launch added risk scoring for return-to-origin (RTO) orders on cash-on-delivery sales and a WhatsApp flow to nudge buyers toward prepaid. Razorpay's own performance claims for these tools are not independently verified.

Products

Payment gateway and collection tools

The gateway covers cards, UPI, netbanking, wallets and EMI. Around it sit payment links, payment pages, payment buttons, QR codes, invoices, subscriptions and Smart Collect. UPI AutoPay and international payments are listed as separate products.

Checkout for ecommerce

Payment Gateway 3.0 (blog dated 22 February 2024) bundled Magic Checkout (a one-click flow), widgets for instalments and trust signals, MagicX for Shopify, and loyalty and WhatsApp tools.

Banking, payroll and POS

The docs hub names POS and Banking Plus as product areas. The pricing page lists payroll subscriptions from INR 2,499.

Cross-border

Razorpay's blog describes its payment aggregator cross-border (PA-CB) authorisation as covering inward and outward payments. It enables Indian exporters, SaaS firms and freelancers to collect international payments. It says non-Indian businesses can accept payments from Indian customers through a separate onboarding route. The same post notes that authorisation does not equal product activation, and that supported currencies depend on the product.

Developer experience and integrations

Razorpay's docs offer a Payments API, API reference, SDKs, integration guides, webhooks and Postman collections. Web integration uses Standard Checkout (JavaScript), with Android and iOS SDKs for mobile and ready-made plugins for Shopify and WooCommerce. The payment gateway page also lists Wix, Magento, CS-Cart and PrestaShop. Test mode uses test API keys and a mock bank page with success and failure buttons, and no money moves.

The docs hub also carries a section on building with agents, which covers a command-line tool and an MCP server so that AI assistants can work with Razorpay.

Payment methods, currencies and coverage

Razorpay's materials are written for the Indian market, and the pages we opened do not list a set of supported countries or settlement currencies. For background on how UPI-style rails work, see our real-time payments guide and the alternative payment methods guide.

Pricing model

Razorpay's pricing page (opened 3 November 2026; it shows no effective date) leads with a rate of 2% plus GST per transaction, with a promotional offer of a free gateway for the first 90 days subject to terms.

The page says standard bank-to-bank UPI and RuPay debit transactions carry zero merchant discount rate but also mentions a platform fee, so the effective cost for those methods should be confirmed with Razorpay. Rates for most other methods and for international payments are not broken out on the page.

Recent launches

Razorpay's newsroom moved to a separate domain that we could not open, so we do not cite its individual press releases here.

Regulation in brief

Razorpay's blog says its legal entity, Razorpay Payments Private Limited, holds Reserve Bank of India authorisations as an online payment aggregator, a physical (POS) aggregator and a cross-border aggregator covering inward and outward flows. The post advises merchants to match the exact entity on their contract with the RBI's list of authorised operators. Our guide on how to check a financial licence covers the general approach. We did not open the RBI register itself for this edition.

Who it tends to suit

Razorpay is commonly used by Indian businesses that want UPI, cards, netbanking and EMI in one integration, from small sellers using payment links to developers using the API. Ecommerce sellers who deal with cash-on-delivery returns may look at the checkout and RTO tools, and exporters may look at the cross-border product. Businesses comparing Indian providers may also look at PayU, and global merchants entering India sometimes consider Stripe or PayPal as well. Check the full fee schedule, settlement times and contract entity before choosing.