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Razorpay Reviews & Info [IN PROGESS]

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Razorpay hit our radar recently as a fast-growing payment processor, and we were curious enough to do some digging into the company. If you’re considering signing up to Razorpay, this post is intended to be a helpful guide for you, along with a review of the service (both from us and others who are kind enough to submit their comments to us).

As of March 2020, this post is currently in progress and incomplete as our investigation is ongoing. We’re currently still in the process of Razorpay and gathering more reviews for them. As an important disclaimer, we at OutwitTrade.com have not tested Razorpay ourselves, as we have no business operation in India — we’re just researching them and reaching out to different companies and individuals to report on how well they’re working for most of their customers.

What is Razorpay?

Based in India, Razorpay primarily serves as a payment gateway for individuals and businesses to accept payments online. The company was founded in December 2014 and currently has several hundred employees, and according to their website (razorpay.com/customer-stories/), over 2,000,000 businesses use Razorpay. We were not able to verify that number, but can confirm that many large and reputable companies in India (these include Treebo, Quikr and FreshToHome) use Razorpay as a payment processor.

If you are not based in India or do not do business in India, Razorpay is not the payment gateway for you.

How do you get started with Razorpay?

To begin with, go to razorpay.com and enter your email address at the top of the page, and click “Sign up”:

Upon choosing a password and verifying your email, you’re taken to the dashboard immediately. Here’s what it looks like (click the image for full size):

Notice in the dashboard you can create Payment Links (then you just send that payment link to a customer via WhatsApp, text or anything else and Razorpay handles the rest – that’s extremely convenient especially for businesses without a website) and also Payment Pages (where you can create a branded payment page, similar to the functionality PayPal has offered for a long time where the customer can see a payment page with your business name and logo on it).

But before you do anything, Razorpay naturally needs to know more about you than just your email address. Click on the “Activate your account” link in the top left and this pops up:

This is just some simple information about your business that you’ll fill in. Then in the next screen, you have to enter the Permanent Account Number (PAN) for your business (all businesses that operate in India require a PAN):

While this is very simple, applying through here does not get you automatically approved. After receiving your information Razorpay will very likely contact you and ask for some more documentation, or perhaps ask some questions specific to your business. Therefore, do not expect signing up to Razorpay and then processing payments via Razorpay to be a one-day affair.

What do existing reviews say about Razorpay?

There are many comments we found from people satisfied with Razorpay, though there are also complaints (we’re verifying how accurate these are). Here are the main issues people have reported to have with Razorpay:

  • Slow replies to emails (up to 8 days)
  • Some needless requirements or questions when opening an account
  • Not releasing payments
  • Customer payments failing repeatedly

See https://www.quora.com/What-is-your-review-of-Razorpay# for some of these complaints.

Is Razorpay safe?

We believe so, based on everything we’ve looked into it so far and the number of large Indian companies using it. But as mentioned, we’re still doing research on Razorpay.

Does Razorpay issue refunds?

Being able to issue refunds to customers in the event that a product can’t be delivered is important to most merchants. To assist with this, Razorpay has measures in place to issue refunds, but they’ll take 5 to 10 days if the customer pays via credit or debit card (other payment methods, such as NetBanking, Wallets and UPI can be a bit faster than 5 days).

Razorpay reviews from users

We put out a request for anyone who has used Razorpay to comment on their experience with it. Here’s what we received:

It’s been a while we have been using Razorpay on our website.

It’s basically an Ecommerce website and I am very much surprised with their enhancement and the popularity in very short time.

I have been in Ecommerce industry since 10 years almost and I have seen the growth of Razorpay in these years, its really unbelievable. We are also Recommanding our customers to go with Razorpay at this moment for their indian payment gateway provider. There are several reasons behind it

1. Quick and Easy process to get on board.

2. Their Tool/Software/Web based dashboard is very intuitive and very easy to get started and to learn easily the stuffs you need.

3. Appealing Design of dashboard. Completely User friendly

4. Features they are offering. Some of the features like Subscription payments, they were the first to launch in a way that actually makes difference. We were looking for that subscription feature very long in indian payment gateways but it was too difficult to find, and in case if someone has then its too complex e.g CCavenue.

5. They are not limited to only payment gateway, they launched other products as well and very soon, like razorpayX.

6. Commission Pricing They offered, it was very competitive in the market when they started.

7. International Currency Support : This was also headache in other payment gateways, Razorpay launched international currency support with almost 17 currencies and enabling currency for our profile is also quick.

8. UI at the payment gateway side, we are using razorpay in Magento website, Simple iframe, save card on payment gateway side, etc are unique features provided by Razorpay.

9. Support for almost all the banks, cards, UPI, wallet, basically all in one.

10. Most Important Support from their Team is really excellent.

There are tons of things i can tell you about Razorpay which changed Ecommerce world in india at good level and made easy for Ecommerce store owners for hassle free payment experience.

--Gaurav Jain, MageComp

PERMALINK: https://outwittrade.com/razorpay-review#gaurav

We have been using Razorpay since Jun 18, 2018, and its awesome payment gateway we have used so far. We have not only seen significant changes in the success rate of the transaction but also checkout experience is Quick and smooth.

Another Best thing about Razorpay is their API Integration is Super easy and Takes no more than a few minutes.

We have rarely faced any downtime. Razorpay team is Innovative, and they come with new features frequently. one of their recent feature of Instant Refund is Amazing. This helps us Retain customers and improve trust by issuing refunds instantly.

Support is amazing. They provide 24/7 Chat and Call Support.

We’re 100% satisfied with Razorpay for Domestic Payments after using other Payment Gateways in India.

--Sumit Gupta, searchfunnel

PERMALINK: https://outwittrade.com/razorpay-review#sumit

We are using Razorpay – along with Stripe (recently launched in India), and PayPal.

Razorpay is the cheapest among all of them – even for the free account at 1.75%. Stripe’s lowest charge is 2% and PayPal charges 5% or 2.9%+$0.30. If you take Razorpay’s enterprise plan at Rs 14000 per year, it drops to as less as 0.3% for some payment methods. They also don’t charge any fixed fee like PayPal which is about USD $.30. No fixed fee at Razorpay adds up to a lot of money if you are dealing with a high volume of small amounts as we do.

Razorpay is also very reliable and prevents fake chargebacks – something we have suffered from PayPal.

Its implementation, APIs, and documentation are somewhat better than stripe and significantly better than PayPal.

You can also transfer funds to other accounts such as sub-merchants/freelancers on the website which you can’t do with PayPal or Stripe in India. These features are available in Stripe and PayPal for other countries.

I would have included CCAvenue, something we used before Razorpay, in the comparison but their system is archaic and expensive – and is not even in the same league as Razorpay. They are miles behind the ease of onboarding/coding/pricing/service with Razorpay.

Razorpay allows you to pay not only with cards, like Stripe/PayPal but we can also use Netbanking, wallets such as AmazonPay, and UPI. This is important in a country where card use is not as prevalent as in western countries.

They also have the facility of making EMIs before you make payment.

--Arun Verma, TeacherOn

PERMALINK: https://outwittrade.com/razorpay-review#arun

Kevin Smith

I joined OutwitTrade to contribute reviews on all the different educational products I've used throughout my time working online.
Kevin Smith

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