Razorpay
Razorpay · Ranked #3 of 7 in Payments APIs
India's leading developer-friendly gateway with publicly documented APIs, self-serve signup, free tier, and broad SDK/plugin coverage.
India-first developer payments suite
Overview
Razorpay is India's largest full-stack payments and business-banking platform, offering a developer-first REST API that lets businesses accept money via UPI, cards, netbanking, wallets, EMI, pay-later and international cards. Founded in 2014 and a Y Combinator alum, it has grown well beyond a simple gateway into a financial-operations suite: Payment Links and Payment Pages (no-code collection), Subscriptions (recurring billing), Smart Collect (virtual accounts), Route (split settlements/marketplace payouts), RazorpayX (current accounts, payouts, payroll) and Magic Checkout (one-click conversion-optimized checkout). The target customer is overwhelmingly Indian-domiciled, startups, D2C/e-commerce, SaaS, and enterprises, for whom UPI-first coverage, fast onboarding, and strong documentation are the main draws.
Where Razorpay wins is breadth of payment-method coverage in the Indian market, genuinely good developer experience (clean RESTful API, idempotency, webhooks, and official SDKs in Node, PHP, Python, Java, Ruby, .NET and Go), and a transparent flat-rate model, 2% on most domestic transactions, charged only on success, with no setup fee or AMC. Reviewers across G2 and Capterra consistently single out the documentation and integration kits as best-in-class among Indian gateways, and report payment success rates sustained in the 93-94% range. Magic Checkout adds a measurable conversion layer, with Razorpay's own data showing single-page checkout converting around 61% vs 56% for multi-page flows.
Where it loses is on two recurring pain points that show up heavily in third-party reviews: customer support and settlements/holds. Support responsiveness, particularly ticket resolution speed and quality during peak periods, is the most common complaint on G2, Capterra and Trustpilot. More seriously, Trustpilot skews negative around risk-driven settlement holds (funds withheld for compliance reviews, sometimes for extended periods) and disputed charges, a structural reality of being both the processor and the risk underwriter. Pricing is also viewed by some as marginally higher than competitors like Cashfree/PayU, and the platform is effectively India-only, so it is not a fit for businesses needing global processing à la Stripe.
How this score is derived
The APIbenchmarks Index is a weighted sum of four dimensions, each scored on an absolute 0–100 reference scale. See the methodology for every mapping.
| Dimension | Score | Weight | Contribution |
|---|---|---|---|
| Documentation & DXWidely praised as best-in-class among Indian gateways, comprehensive REST API reference, server-integration guides per language, and ready-made integration kits at razorpay.com/docs. | 82 | 30% | 24.6 |
| ReliabilityA public multi-component status page (status.razorpay.com) shows healthy core services, and reviewers report consistent 93-94% success rates, though Razorpay does not publish a hard uptime SLA percentage for standard merchants. | 80 | 25% | 20.0 |
| Ecosystem & SDKsDeep platform spanning gateway, RazorpayX banking, payroll, lending and no-code tools, official SDKs in 7+ languages, plus plugins for Shopify, WooCommerce and major e-commerce/CMS platforms. | 80 | 25% | 20.0 |
| AccessibilitySelf-serve signup with no setup fee or AMC and success-only billing lowers the barrier for startups, but full activation requires Indian business KYC and the platform is effectively limited to India-domiciled entities. | 88 | 20% | 17.6 |
| APIbenchmarks Index (ABI) | 82.2 | ||
Table 1. Derivation of the ABI for Razorpay. Contribution = score × weight; the index is their sum.
At a glance
- Vendor
- Razorpay
- Pricing model
- Per transaction (~2% + GST)
- Free tier
- Free test mode + no monthly fee; ~2% per transaction live
- Official SDKs
- 11 languages
Pricing
| Standard (domestic) | 2% per transaction | Flat 2% + 18% GST on most domestic methods (cards, UPI, netbanking, wallets); charged only on successful transactions, no setup fee or AMC. |
| International Cards | Up to 3% per transaction | Cross-border card payments from overseas customers, plus 18% GST. |
| International Bank Transfers | 1% per transaction | SWIFT/ACH/SEPA/Faster Payments inbound transfers with zero forex markup. |
| UPI QR Codes | 0.99% per transaction | Discounted rate for UPI QR-code collections. |
| Subscriptions | ~0.9-1% add-on | Recurring-billing subscription fee layered on top of the base gateway fee per transaction. |
| Enterprise | Custom | Negotiated pricing for businesses processing above Rs. 5,00,000/month GMV. |
Key features
- •RESTful Orders & Payments API with idempotency and webhooks
- •Payment Links and no-code Payment Pages
- •Subscriptions / recurring billing
- •Smart Collect (virtual accounts for bank-transfer reconciliation)
- •Route, split settlements and marketplace/vendor payouts
- •Magic Checkout, one-click, address-prefill, COD-intelligence checkout
- •RazorpayX, current accounts, Payouts, Payroll and Instant Settlements
- •UPI, Bharat QR and dynamic QR-code collection
- •Refunds, disputes/chargebacks and invoicing APIs
- •Downtime API to programmatically fetch payment-method outages
Official SDKs
Strengths & trade-offs
- +Flat, transparent 2% pricing charged only on successful transactions, with no setup fee or annual maintenance charge
- +Best-in-class documentation and integration kits, repeatedly cited by developers as the easiest Indian gateway to integrate
- +Broadest Indian payment-method coverage: UPI, cards, netbanking, wallets, EMI, pay-later in one API
- +Full-stack platform beyond the gateway, RazorpayX banking, payouts, payroll, Subscriptions, Route and no-code Payment Pages/Links
- +High, consistent payment success rates reported by merchants (93-94% over sustained periods)
- +Magic Checkout delivers measurable conversion lift (single-page ~61% vs ~56% multi-page)
- –Customer support is the most common complaint, slow ticket resolution and repeated loops, especially during peak periods
- –Risk-driven settlement holds can freeze funds for extended compliance reviews, a recurring Trustpilot grievance
- –Transaction fees viewed as slightly higher than competitors like Cashfree and PayU
- –Effectively India-only, not suitable for businesses needing global/multi-region processing
- –No publicly committed uptime SLA percentage for standard merchant accounts
- –Standard settlement is T+2 (domestic) / T+7 (international); instant settlement costs extra
What developers say
G2 4.3/5 · 151 reviews
Developers love Razorpay's documentation, integration ease and high success rates, but support responsiveness and risk-driven settlement holds draw consistent criticism.
“In 16 months of usage, settlements have never been delayed, webhooks are reliable, and the success rate consistently stays above 93%. The integration documentation is the best I've seen among Indian payment gateways.”
Key figures
| Standard domestic transaction fee | 2% per successful transaction | Razorpay pricing page ↗ |
| International card fee | Up to 3% per transaction | Razorpay pricing page ↗ |
| UPI QR code fee | 0.99% per transaction | Razorpay pricing page ↗ |
| Reported payment success rate | 93-94% sustained | G2 verified reviews ↗ |
| Magic Checkout conversion (single-page vs multi-page) | ~61% vs ~56% | Razorpay blog ↗ |
| Domestic settlement timeline | T+2 business days | Razorpay pricing/blog ↗ |
Compare Razorpay head to head
Sources
- https://razorpay.com/pricing/
- https://razorpay.com/blog/razorpay-payment-gateway-pricing-explained/
- https://status.razorpay.com/
- https://razorpay.com/docs/api/understand/
- https://razorpay.com/docs/payments/server-integration/
- https://www.g2.com/products/razorpay/reviews
- https://www.capterra.com/p/179263/Razorpay/reviews/
- https://www.trustpilot.com/review/razorpay.com
- https://razorpay.com/blog/magic-checkouts-new-single-page-checkout/
Figures last verified 2026-06-27. Spotted an error? corrections@apibenchmarks.com