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Razorpay is a popular payment gateway solution that allows businesses to accept online payments from abroad. Founded in 2014 by Shashank Kumar and Harshil Mathur, Razorpay has become one of the most trusted payment gateways in India, serving more than 5 million businesses across the country.
- Log onto your Razorpay account and go to settings.
- Go to payment methods and then click on International payments.
- Click on the “Request” button for the payment method of your choice.
- Fill in the details of your business form and click on submit. Then, accordingly, Razorpay will send you the approval within 5-7 days provided all your details are accurate.
- Payment Gateway: Your clients can use the payment gateway platform that’ll send money directly into your bank account after converting the money.
- Subscriptions: With Razorpay Subscriptions, you can enable recurring payments, manage the billing cycle, and receive immediate alerts about subscription activity. Simply connecting a plan to a consumer is all that is required.
- Payment link: You can quickly create and send a payment link by email, SMS, WhatsApp, etc. to receive money right away. Your clients or customers can then make payments with ease.
- Invoices: To accept online payments using debit/credit cards, net banking, wallets, UPI, etc., send your clients GST-compliant invoices with proper breakdowns.
- Payment pages: To take payments online, quickly create Payment Pages with your branding and hosting. Your clients can pay you directly via your payment page.
- Transaction Fee: There is just a 1% flat fee on Mulya Finance whereas on Razorpay it's up to 3% platform fees+ 1% conversion.
- Transparency: Mulya Finance offers appropriate transparency about costs as well as payment tracking. Mulya provides you with information on the day when payments are due, the currency rate, transaction costs, and everything else. In contrast, Razorpay doesn't offer you as much detail.
- FIRC: In the first week of every month, Razorpay processes your FIRC certificate and distributes it on your Dashboard.
Samarth Srivastava has spent few years honing their skills and knowledge in the field of international payments. With a deep passion for finance and a keen eye for global business trends, the author has become a trusted authority on all things related to international payments.