Razorpay Payment Gateway: Features, Product Offerings and Pricing

Razorpay is next in line for a comprehensive overview of their offerings, features, pricing and more! Here’s everything you need to know before you pick a payment gateway for your business.

With everything going digital, it might be a herculean task to pick the right payment gateway option for your business. In our series of blog posts, we will review the top 7 payment gateways in India, to help you pick the best option for you.

This week, we review Razorpay who claim to provide the easiest integration, complete online onboarding, no paperwork, feature-filled checkout option and more.

Some features of Razorpay:

  • Fast Onboarding: With just a few steps, you can complete the onboarding process with no physical paperwork.
  • Easy Integration: They provide plugins for all major platforms and languages, helping you scale irrespective of geographical borders.
  • API Driven: With their API-driven automation tools, you can automate important tasks with zero manual supervision.
  • 100+ payment modes: Accept international and domestic cards, EMI, net banking, UPI and mobile wallets. This allows your business to tend to a larger audience.
  • Simple Pricing: Easy to understand pricing to help you collect payments easily and run your business efficiently.
  • Customer Support: You can reach out to them via email, phone, and chat-based support.
  • Dashboard Reporting: The dashboard helps you get insight into the business analytics and performance of your business. Access detailed reports, statistics on payment transactions, settlements, refunds and more.

To know more about their features, click here. 

Some product offerings of Razorpay:

  • Payment Gateway: With easy integration, no paperwork and instant onboarding, collecting payments couldn’t get easier.
  • Route: Split bills and collect payments, make vendor payouts, manage marketplace money flow and much more.
  • Subscriptions: These plans can help you automate recurring transactions via various payment modes to help you set up payments. You can also control the billing cycle and get instant alerts on subscription activity.
  • Smart Collect:  With this offering, you can generate virtual accounts on demand and accept payments via NEFT, RTGS, and IMPS. Additionally, you can get notified for each incoming payment and automate the tedious reconciliation process.
  • Payment Links: Create easy to share payment links which can be shared via email, SMS, messenger, chatbot etc.
  • GST Compliant Payable Invoices: Create and send GST compliant invoices to your customers. Additionally, you can notify your customers via SMS and email to get paid instantly.

To know more about their offerings, click here.

Razorpay Pricing Details:

There are two packages you can opt for: 

  1. STANDARD PLAN – This plan is designed for Startups, Small and Medium Enterprises.
  2. ENTERPRISE PLAN – This plan is designed for Large Volumes.

The pricing for the standard plan is: 

  • One-Time Setup Fee – ₹ 0.00, no setup fee
  • Annual Maintenance Fee – ₹ 0.00, no maintenance fee
  • 2%* per transaction – Indian Credit Cards, Indian Debit Cards, Net Banking from 58 Banks, UPI, Wallets including Freecharge, Mobikwik etc.
  • 3%* per transaction – Diners and Amex Cards, International Cards, EMI.

Features in the standard plan: 

  • Email, Chat, and Call Support Available
  • Completely online, paper-less activation
  • Check out JS, Developer APIs, Mobile SDKs, Payment Gateway Dashboard, Flash Checkout, International Payments and tons of amazing new features that we are building.

For the pricing on the enterprise plan, contact Razorpay, here. 

Features in the enterprise plan:

  • Early Access to New Features
  • 24×7 Priority Support Available
  • Online Activation within 24 hours
  • Pre-assigned Key Account Manager
  • Check out JS, Developer APIs, Mobile SDKs, Payment Gateway Dashboard, Flash Checkout, International Payments and tons of amazing new features that we are building.

To know more about their pricing, click here. 

Additional Benefits For Businesses Looking To Expand Their Knowledge:

Razorpay, like Instamojo, help entrepreneurs understand the nitty-gritty of running a successful business by creating easy reads via their blogs. You can find a host of blog posts pertaining to marketing, sales, content and more. Be sure to check their blog, here.

  • Guides: 

As of now, they have two guides to help you understand how chargebacks and settlements work. These guides have been designed to help merchants like you make better business decisions.

Additionally, they also offer other resources, such as success stories, a listing of programs and entrepreneurial events happening near you and more. Be sure to check them out, to stay updated with the trending market events.

With the wide range of payment gateways out there in the market, it can be difficult to pick the right one for your business. In our series of posts, we will be reviewing key parameters of the top 7 gateways in India, to help you through your journey.

Do let us know, what you think about our blogs and whether they helped you on your entrepreneurial journey or not.

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