Online Payment Fraud: What Is It and How Razorpay Prevents It

FeaturedFraud Prevention for Online Businesses

This is the second blog in our series on online security and fraud prevention. To understand more about online safety (how to distinguish between a secure and non-secure website, how to ensure you are making a secure payment) read the first part here. To understand how online payment fraud occurs and the steps to prevent it, read on!

There is a reason why banks put up disclaimers announcing that their employees do not ask you for sensitive data, or that you should never reveal details like your OTP to an unknown person.

Online payment fraud is a reality of the internet age we live in and the numbers are only set to increase with the increasing digital adoption in India. According to a study by the credit information company

Experian and the International Data Corp (IDC), the fraud risk in India is currently pegged at 8.1 points; second only to Indonesia (8.7 points) and significantly higher than the average 5.5 points in the Asia Pacific region.

A 2016 consumer study conducted by ACI Worldwide places India at the fifth position in terms of total card fraud rates; behind Mexico, Brazil, United States, and Australia.

As they say, the best weapon against any problem is education; so let’s begin by understanding the different types of payment frauds that occur in India and how online sites and payment gateways like Razorpay prevent it.

Online Payment Fraud: The Different Types

The most common types of online fraud occur via phishing or spoofing, data theft, and chargeback or friendly fraud. We have explained these in detail below.

Online Phishing or Spoofing

Phishing is the process of accessing one’s personal information through fraudulent e-mails or websites that claim to be legitimate.  The information gathered this way can include usernames, passwords, credit card numbers, or bank account numbers.

The most widely used method for phishing is to redirect an online user (from an email or SMS) to an “official” website where they are asked to update their personal information.  You are thereby tricked into revealing personal information that you would ideally not reveal to anyone else.

Phishing can also occur via other electronic means such as SMS, instant messaging, and on email. You can be redirected to make a payment on a website that looks legitimate, but which is created to capture your card details so they can be used later.

According to reports, India is the third-most targeted country for phishing attacks, after the US and Russia.

Data Theft

Sometimes, dishonest employees or partners can steal credit card data from businesses and use this for committing fraud. Most online sites take stringent measures to ensure that such privacy breaches do not occur.

Instead of storing credit card details as is, for instance, websites and payment gateways use methods like tokenization and encryption to keep the data secure.

Razorpay takes data security very seriously. We are a certified ISO-27001 compliant organization, which means we undergo stringent audits on our data privacy processes.

Chargeback Fraud or Friendly Fraud

Let’s say a customer makes an online purchase. Later, they claim that the purchase was made fraudulently and ask for a chargeback – even though they made the purchase themselves! (A chargeback – in the simplest of terms – is an order from a bank to business, asking it to return the amount paid for a possibly fraudulent purchase.)

This is known as chargeback fraud or friendly fraud, where business processes a transaction since it seems legitimate; only to be issued with a chargeback later on.

Chargeback frauds cause GMV losses and are a hassle for any business. We have a Razorpay Chargeback Guide that will help you understand why chargebacks happen and take steps against fraudulent charges.

The Effect of Payment Fraud on Businesses

As per the current terms and conditions, a credit card issuer (i.e., the bank) does not consider the cardholder liable for any fraudulent activity; for both card-present and card-not-present frauds.

Therefore, payment frauds involving credit cards have a significant effect on the business community and a significant impact on a merchant’s bottom line. Every time a customer issues a chargeback, it leads to loss of both inventory and GMV. This is especially true for retail establishments, where the profit margins are usually small.

Regarding industry, the subscriptions industry continues to have the highest rate of fraud for two main reasons:

  • Subscriptions are essentially a card-dependent service; wherein the USP of the service is that the customer does not have to make manual payments. It is easy to claim that one’s card was used without knowledge in such a scenario.
  • Fraudsters and hackers use subscription services to ‘test’ cards. Online subscription services usually provide a one-month free trial, but one needs a credit card to initiate the trial period. Since the value is negligible, such payments usually go unnoticed by a card owner. If the card details are incorrect, the subscription business shares a detailed authorization error; thus making it easy for the hacker to modify their strategy and continue using the cards.

Razorpay: How We Help Businesses Reduce Fraud and Mitigate Risk

Apart from the mandatory protocols, Razorpay has its processes (developed in-house by our tech whizkids) to detect and prevent fraud and mitigate risk. As a payment gateway and a converged payments solution company, we take data security very seriously.

By delving into our data and analyzing patterns, we have been able to institute processes that ably discern between a ‘normal’ and a ‘suspicious’ transaction with credible accuracy. These systems are divided into two types:

a) Systems for detecting ‘Merchant Fraud’

Merchant fraud occurs when someone creates a fake or bogus company with no intention of selling any product to the customer. The business appears legitimate; but since it offers no actual goods or services, all users who make an online purchase only end up losing their money.

As a payment gateway, Razorpay has strict processes in place to vet every company which uses our gateway for processing payments. Some of the ways how we check for merchant fraud include:

KYC checks: Adhering to strict KYC norms even before we onboard a business is an integral part of fraud mitigation. We have an in-house ‘Risk and Activation’ team that runs background checks on new businesses and vets them before they are ‘live’ on our payment gateway.

At Razorpay, we take this check one level higher by monitoring all suspicious and potentially fraudulent businesses, and the transactions that originate from them.

Transaction monitoring: Razorpay Payment Gateway has an inbuilt ‘Risk’ logic which can sniff out a possible fraud faster than a K9 squad. Let’s say a merchant who gets 3-4 online orders in a day suddenly starts to get 300 daily orders.

A sudden spike in transaction velocity (number of transactions per minute/hour/day), volume (amount transacted for), or pattern (international orders for a local brand) is an indicator of fraud and our systems immediately flag such transactions for further investigations.

Our ‘Risk’ logic also has 72 odd rules for monitoring the thousands of transactions on our payment gateway on a daily basis. This logic is designed according to the merchant, and our logic pathway can easily differentiate between standard day-to-day transactions and those that carry a high probability of risk.

b) Systems for detecting ‘Customer Fraud’

Customer fraud occurs when a stolen or lost card is used for suspicious activities. It can also occur for other payment modes. Not only does this affect the user, but it is also detrimental to e-commerce websites as it increases cases of refunds and chargebacks, and leads to loss of GMV.

At Razorpay, we strive to protect both our merchants and our customers. Which is why we conduct extensive transaction monitoring as well to protect both their interests. How do we do it? Here’s a peek:

Checking for hotlisted cards: Every time a card is used for payment, our gateway connects with the card provider to check if the card has been hotlisted. (Hotlisting means that the card has been blocked temporarily or permanently for use). This is done in real-time so that a verified transaction is still completed within seconds, while the suspicious ones get flagged.

Pattern-based transaction monitoring: We also use geographical and pattern-based transaction monitoring (as for detecting merchant frauds) to identify suspect transactions. This helps us in preempting and preventing chargeback frauds and other types of customer frauds. We have a hit ratio of being able to identify 85% of fraudulent cases in advance.

Online Fraud Prevention: The Future

Online fraud will remain a contentious issue even in the days to come. The more we connect and transact online, the bigger the threat. Moreover, since we cannot eliminate it, the solution must be to remain on guard every single second. The only way to prevent online fraud is through vigilance and regulation.

A good example here is the 3D Secure (3DS) protocol that VISA had developed to keep its customers safe, and which has since been adopted by other card companies like American Express, MasterCard, and JCB International.

A similar process is the 2FA used in India, which is mandatory for all cardholders and card-issuing banks. The RBI has also mandated online alerts for all card transactions – even those where the cardholder physically swipes their card at a PoS system.

For all transactions considered suspicious, cardholders have the option to issue a ‘de-activation request’ immediately and hotlist their cards.

The Indian government’s decision to appoint a nodal agency for dealing with phone frauds – called the FCORD initiative – is another praiseworthy step. We at Razorpay are also in touch with the MHA, which has designated the FCORD as the Nodal Agency for reporting and preventing Cyber Crime frauds in India, regarding the same.

While a zero-fraud system will take some days to achieve, we are constantly building new processes to minimize fraud risk for all consumers.

The bottom line though remains this: If you are building an e-commerce website, remember to follow all the protocols mentioned above and minimize the risk of fraud. Alternatively, find a payment gateway (hello there!) that has stringent security protocols already in place. We’re just a click of a button away!

How Secure Are Your Online Payments?


At Razorpay we strive to make every transaction done via our payment gateway a secure payment. We’re a technology-first online payments company and online payment security is in our DNA. We employ a ‘no stones unturned’ approach to safeguarding the interest of both the online businesses who use our products, as well as their consumers.

We also understand the assurance of secure payments is one of the primary drivers behind the choice of a payment gateway.

With the growing number of e-commerce users and transactions in India,, it is important that we are all aware of the mandatory security protocols for e-commerce websites; so that we can avoid fraudulent situations. As the saying goes, prevention is better than cure.

In this article, let me walk you through the security protocols and processes followed at Razorpay, and which you should look for, too, every time you transact online.

online payment security architecture and information flow

1. TLS Encryption

Data security on e-commerce websites or an online payment system begins the moment a user lands on the site. The TLS Certificate tells users that the data transmitted between the web server and their browser is safe.

As a payment provider, Razorpay uses the highest assurance SSL certificate on its website which is the EV SSL (Extended Validity SSL) certificate.

Without TLS Encryption in place, all data sent over the Internet is unencrypted and is visible to anyone with the means and intent to intercept it. An easy way to check if the e-commerce websites you frequent are SSL certified is to look at the URL and see if it uses ‘http://’ or ‘https://’ protocol.

The additional ‘s’ signifies a secure e-payment system. You can also look for the padlock icon at the beginning of the URL. Modern web browsers in their race to make the Web secure by default are now following the opposite paradigm – mark HTTP sites as “insecure”.

2. PCI-DSS Compliance

The PCI Security Standards Council is a global organization that maintains and promotes compliance rules for managing cardholder data for all e-commerce websites and online payment systems.

The Payment Card Industry Data Security Standards (PCI-DSS) is in effect a set of policies that govern how sensitive cardholder information should be handled.

Fact: The PCI Security Standards Council was created as a joint initiative by the four major credit-card providers: American Express, Visa, MasterCard, and Discover, in the year 2004. Over the years, the PCI-DSS standard has become the guiding principle for online security across the globe.

For an e-commerce website or an online payment system to be PCI-DSS compliant they have to follow certain directives:

Maintain a secure network to process payments: This involves using robust firewalls which can protect against malicious security threats. Further, the website or payment gateway should not use default credentials like manufacturer provided PINs and passwords, and must allow customers to change this data as needed.

Ensure all data is encrypted during transmission: When cardholder data is transmitted online, it is imperative that it be encrypted. Razorpay encrypts all information you share using checkout via TLS (Transport Layer Security). This prevents data interception during transmission from your system to Razorpay.

Fact: On the Razorpay Payment Gateway, all the details entered by a user like their name, address, and credit/debit card information are used only to process and complete the order. Razorpay never stores sensitive information like CVV numbers, PINs etc.

Keep infrastructure secure: This directive involves keeping abreast of new PCI-DSS mandates and using updated software and spyware to protect against known software vulnerabilities, running regular system and software scans to ensure maximum data protection.

Restrict information access: An important part of securing online payments on e-commerce websites is restricting access to confidential information so that only authorized personnel will have access to cardholder data. Cardholder data must be protected at all times – both electronically and physically.

3. Tokenization

Tokenization is a process by which a 16-digit card number gets replaced by a digital identifier known as a ‘token’. This is done to ensure the safety of the original data while allowing payment gateways to securely access the cardholder data and initiate a secure payment.

Fact: Even if a website gets breached and the tokens stored are hacked, it is immensely difficult to reverse-engineer the actual card number from the token itself. To do this, one needs access to the logic used for tokenization, which is not publicly available.

Credit card tokenization helps e-commerce websites improve security, as it eliminates the need for storing credit card data, and reduces security breaches. For more on how tokenization works and impacts online payments, you can read our in-depth blog.

4. Two-Factor Authentication

Two Factor Authentication, aka 2FA, or two-step verification is an extra layer of security added by e-commerce websites to ensure a secure payment for a customer.

This is a customer-facing authentication process, mandated by regulatory bodies like RBI, in that the transaction is processed only after the user enters a detail that only they could know, or have at hand (like a physical token or a security key). Many banks and other e-payment gateways also use the 2FA for their own payment modes.

Fact: 2FA is not a newly-minted technology, but it has recently become the de-facto method of authentication in the digital age. In 2011, Google announced 2FA for heightening online security for its service. MSN and Yahoo followed suit.

When you use Net Banking for a transaction, you are first asked to enter your username and password. As a final confirmation, the bank sends you an OTP on your registered mobile number. This process has been mandated by the RBI, is divided into two levels of authentication:

What the user knows: In this step, users fill in their card/Net Banking details such as username and password. This helps the payment gateway recognize which bank the card belongs to.

What the user (and only the user) has: This step is known as ‘Authorization‘ and is done through the OTP/PIN/CVV. The bank (and the payment gateway) can then confirm that the request for payment is initiated by the rightful user.

5. Fraud Prevention

Apart from these mandatory protocols, most e-commerce websites and payment gateways have their own fraud and risk prevention systems. Big data analytics and machine learning play a huge role in devising these risk prevention and mitigation systems.

By delving into our customer’s data and analysing patterns, we at Razopray can discern between a ‘normal’ and a ‘suspicious’ transaction with credible accuracy. Apart from this, there is a lot that you as a customer can do to reduce the risk of fraud. 

Always remember that:  

– Anyone of importance will never ask for your card data/passwords up front. Banks and financial service providers have a safe protocol to gain admin access to an account if the need ever arises.

– Passwords are safer when you don’t write them down. Keep strong passwords that you can remember, change them frequently, and refrain from writing them down somewhere.

– You have the right to dispute suspicious charges on your card or accounts. Raise a chargeback request for any unidentified transaction on your card. You have a legal right to a resolution.

If you are building an e-commerce website, remember that fraud prevention requires that you follow all the above-mentioned protocols. Or find a payment gateway (hello there!) that has stringent security protocols already in place. We’re just a click of a button away!

GST Invoices : Create and Send GST-compliant Invoices with Razorpay


With GST coming into effect in 2017, all Indian businesses are now required by law to create GST-compliant invoices – both on paper and electronically.

The number of e-invoices across the globe is on the rise (volume of e-invoices in 2016 was approx. $30 billion worldwide, with an average growth of 10-20% per year); as has the volume of e-retail, with global transactions crossing the $2.3 trillion mark in 2017.

This led the think tank at Razorpay to have another of our lightbulb moments – we already had the infrastructure for businesses to accept payments online.

Why not merge it with an invoicing feature so that accepting payments against a GST-compliant invoice becomes easier for everyone? This would automatically cut down the need for multiple software and make the payment process more seamless for everyone included.

So, we set to work. And the outcome is an intelligent software that provides automation of GST incorporation into invoicing – a feature that very few products in the market currently allow. As the Product Manager for this new feature, I am proud to introduce you to ‘Razorpay GST-compliant Payable Invoices‘.

gst invoicing software

Razorpay GST Invoices – How Do They Help?

Invoices have been in trend since the ancient times when merchants used clay tablets to keep a record of supply. In the simplest of terms, an invoice is a “document which states the supply of goods and services and forms the basis for a tax levy”.

GST-compliant invoices differ from the earlier VAT invoices by a few crucial factors:

  • It is important to mention details like GSTIN of the supplier and the customer, the place of supply, the HSN/SAC codes which are specific to the goods/services being sold.
  • The invoice needs to have a clear breakup of the tax levied. Just stating the value of tax is not enough; there needs to be a breakup of the CGST/SGST/IGST components.
  • It is mandatory to issue invoices for all registered supplies as not doing so will be considered an offence under the law.

For a B2B business, e-invoices are an effective way of managing compliance as well as saving costs. It is estimated that creating invoices online can help reduce operational costs by 60-80% vis-a-vis paper-based invoicing. However, this saving does not mean much if you spend money on multiple software for payment, accounting and for invoicing.

GST Sample Invoice

The Benefits of Using Razorpay GST Invoices

The Razorpay GST Invoices gives you access to a single powerful system- where you generate invoices and collect payments via the same software.

Ultimately, this helps your business reduce operational costs, reduce payment delay and delinquency, and manage cash flow in a better manner.

Most importantly, it adds an informational element to the transaction. The customer knows exactly what they are paying for upfront.

The hallmark of any good product is that it simplifies an industry pain point and helps improve business processes. Our invoicing feature helps you in the following ways:

  • You can create ‘Payable Invoices‘ for B2B or B2C transactions easily and accept payments via a single process. For monthly recurring invoices, you can use our APIs to create invoices in bulk.
  • Automatically include the GST breakup in your invoices. Since this is linked to the HSC/SAC codes of the supplied items, there is zero chance of error in levying taxes. Remember, GST tax rates vary according to the tax bracket of the item and correctly calculating tax is an important part of creating GST-compliant invoices.
  • Your customers can choose to pay from multiple payment options available on Razorpay or even use Virtual Accounts to make offline payments against the invoices. This enables customers to make instant payment – anywhere, any time – and helps businesses maintain regular cash flow for important tickets.
  • The ‘Dashboard Tracking’ option allows you to tally Account Receivable (outstanding amount) and the money collected/received from your Razorpay dashboard. There is no need for a separate accounting software for this.
  • In certain cases, your customers may want to make partial payments against an invoice. Let’s say they only wish to credit a small amount as an advance and expect to be able to pay the rest when they receive the goods. Razorpay GST Invoices come with a ‘Partial Payment’ option for such use cases.

Most importantly, you can use our software to create invoices even if you’re not registered under GST. Our intuitive and intelligent software can be used to create normal invoices without GST taxes that can be sent to your customers as proof of transaction.

Creating GST Invoices with Razorpay – The Process

At Razorpay, we have always been very particular about keeping the user flow/user experience simple, so that our users – whether they be a startup or an established business –  can use the product seamlessly. We have tried to do the same with the GST Invoices and I have detailed the process below.

For easy understanding, I have broken down the process into five steps from creation to reconciliation.

GST Invoice Generation

Step 1: Creation and Generation of GST Invoices

  • To create an invoice for a customer, begin by adding all the necessary details such as the GSTIN of the customer, PAN details, mobile phone, and email id.
  • Next, add item details of the goods/services sold to the customer. You can choose the HSN/SAC codes for the same, and add it to the invoice.
  • Once you add the item details and the place of supply, the GST will be automatically calculated by the software. The GST rate is linked to the item code and the place of supply; hence there is zero chance of error.

You can save the details for further use. This will help in the mass creation of invoices and faster creation of recurring invoices.

Step 2: Sharing of GST Invoices

  • The invoices are shared via email and SMS (you added these details in the first step).

Note: Even in legacy software, the sharing has to be done manually. However, Razorpay automates the process so that it is easier and faster.

Step 3: Payment

  • You can share your bank details over the same mail to facilitate online payments. This works for ‘Payable’ invoices that need to be paid online.

Step 4: Notification

  • If the invoice is paid online, you will receive notifications via the webhooks available on our site. If the payment is done via RTGS or NEFT, then it needs to be manually tallied.

Step 5: GST Reconciliation

  • Reconciliation for Razorpay GST invoices is done the same way as for any other invoice. You will have to account for the monthly ‘Account Receivables‘ and ‘Invoices Issued‘ and ensure that they both tally.

So there! The easiest invoicing solution for businesses is now in town – Razorpay GST- compliant Payable Invoices. Have you used it yet?

TDR, MDR and Other Payment Terms Simplified


So, there I am. A newbie in the world of geeks, trying my best to understand terminology I wouldn’t have been caught dead using just a few days back.

Yes, it’s KT (knowledge transfer) time at Razorpay and as the new kid on the content block, I need my grey cells to absorb as much of the payment-related terms as they can.

And that’s when it hits me. If understanding these bywords is hard for someone who’s been in the fintech industry for a while, I wonder what others go through.

So, whether you are a startup enthusiast, SME owner, or just a curious Lannister who likes to know things, here’s a simplified introduction to payments and some of the oft-used terms in the industry. I hope you find them useful!

For the purpose of this blog, let’s take a look at a simple payment flow and the terms associated with this:

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1. Aggregator/Gateway

A payment gateway is a technology that allows merchants to accept online payments from their customers. PayPal, WorldPay, MIGS are some well-known examples of payment gateways.

Now, customers have their own preferred method of making a payment. If I was buying my favorite beverage on ChaiPoint, I might pay for it via NetBanking, while somebody else might prefer a wallet or UPI.

A payment aggregator brings together all these various modes of payment in a single interface, thus allowing the user the flexibility of choice.

2. Authentication

When you are dealing with high volumes of money on a daily basis, fraud and risk must be minimized. The authentication process is what helps payment gateways verify that you are who you say you are and prevent fraudulent transactions.

As mandated by the RBI, every online transaction in India undergoes two levels of authentication:

  • Verification of payment details: This helps the payment gateway recognize which bank your card belongs to so that they can process your payment faster.
  • Verification of user or Authorization: This is done through the OTP/PIN/CVV. When you enter these correctly, you essentially tell the bank (and the payment gateway) that you are the person using the payment mode, and have initiated the request for payment.

3. Acquiring/Issuing Bank

Now, these are two very similar-sounding terms which can get a bit confusing at first. So, listen closely! Simply put, an acquiring bank is a bank which facilitates the transaction through its gateway. And the issuing bank is the one used by the customer when making a transaction.

Let’s say that I used my HDFC credit card for a purchase at ChaiPoint. The transaction was processed via Razorpay. The issuing bank – which gave me my card – is, therefore, HDFC.

Now, Razorpay has to channel my money to ChaiPoint, and it does so via the gateway provided by SBI. Thus, the acquiring bank, in this case, will be SBI. In a sense, the acquiring bank is the partner bank for the payment gateway.

**These terms become even more important when we talk of issues like refunds, or card holder’s verification. The onus is on the issuing bank to verify the details entered by the cardholder and validate the transaction.

4. Merchant/Nodal Account

As defined by the RBI, a nodal account is an account created by an e-commerce, payment gateway, wallets, and aggregators specifically in order to accept digital payments. A merchant account is a temporary virtual account that a business creates with a payment gateway.

For instance, Razorpay has a nodal account for accepting and processing payments. When a merchant signs up with Razorpay to use our services, we create dedicated merchant accounts for them, which act as temporary vaults for payments.

Every payment made by a user is first directed to the Razorpay nodal account and managed through the specific merchant account.

Once the funds are deposited into the merchant account, the merchant is free to do as they please with it. So, they can effectively choose to send the whole amount to any of their business’ current accounts, or use it to make payments to their vendors and other associates using a feature like the Razorpay Route.

Most Indian banks offer the facility to open a current account. You can also create one through a private service provider.

Now, I know what you are wondering about and here’s the answer to your query – a merchant account and a business’ current account are indeed two separate entities.

Provided by your payment processor, you can use the merchant account only to accept digital payments from your customers, and disburse it to your vendors. Your current account, on the other hand, is where funds from both cash and card transactions are added, and which you use to pay salaries and bills.

5. Capture

To help you understand this term better, let’s analyze the anatomy of the transaction I made at ChaiPoint earlier.

The process began with me choosing to make a purchase online. I picked my favored mode of payment, entered the details, and confirmed the payment.

Voila! I see that the money has been debited from my HDFC account and credited to Razorpay’s nodal account. It now needs to reach ChaiPoint’s account and for this to happen, ChaiPoint has to ‘capture’ the payment so that Razorpay knows where to forward it to – almost like sending out a virtual Thank You, and a confirmation that the money indeed belongs to them.

And if ChaiPoint does not raise this ‘capture’ request within a stipulated time (5 days from the date of payment) then the amount is automatically refunded to my account.

6. Settlement

Once the transaction has been ‘captured’, the payment gateway i.e. Razorpay has to ‘settle’ the amount with ChaiPoint. Note that the money has still not been transferred to ChaiPoint’s merchant account. This is because even though the authorization, authentication, and capture (in most cases) happen in real time, the fund transfer follows a separate cycle.

Banks transfer the amount to Razorpay’s nodal account first, and this usually takes 1-2 days. Razorpay then sends it to ChaiPoint’s merchant account, and this happens 2-3 days after the transaction was first made. This is known as a settlement

[Blog]Second Image

So far, we have looked at the flow of money from the user to the merchant and understood the terminologies involved. Now, let us understand the process of reversing a transaction (as in the image above) and the terms used in this flow.

7. Refunds

Refund is as refund does. Come on, we have all done this at least once in our lives!

A refund is, in essence, a reversal of a transaction made by a user. In cases where the user is not happy with the goods or services purchased, or if they have paid for said purchase without actually receiving anything, they can ask for their money to be refunded.

The process is complicated and if you have ever wondered about it, here’s a wonderful blog that should clear all your doubts.

**Refunds and chargebacks may seem similar, but there is a difference in their machinations. A refund is initiated by the merchant (with or without a request from the user) because they failed to provide the goods/services agreed upon. A chargeback is a customer asking the issuing bank to forcefully remove money from the merchant account because the charges levied by the merchant are not valid.

8. Chargeback

The world of online payments is not just APIs and code. Every once a while, it can read like an interesting whodunit. Imagine a scenario where a customer has been charged for transactions on his credit card, which he claims he did not make. Is this a case of amnesia? Sour grapes, or a shopping affair gone wrong? Or, an intent to defraud? Whoa!

When a customer contests a charge made on their card, the issuing bank immediately issues a ‘chargeback’.

Again, in the example that we have used till now, let’s assume I ask my issuing bank to initiate a chargeback against ChaiPoint for transactions billed to my credit card. ChaiPoint will now get its best Sherlocks on the case to prove the validity of these charges within 15 days, failing which I am entitled to get my money back. End of story.

While as a payment gateway Razorpay is not directly involved in initiating chargebacks and refunds, we are a part of this digital infrastructure and do our best to resolve such issues quickly. Ideally, a business would like to stay away from chargebacks because it causes both loss of inventory (if you did make a sale), as well as money.

All the charges levied on a digital transaction are also levied in case of a chargeback.

**The Fair Credit Billing Act of 1974 (USA) is widely considered as the genesis of chargebacks. In India, this would fall under the ambit of the Consumer Protection Act, 1986.

9. TDR/MDR/Bank Charges

As we have seen till now, there are a lot of steps and entities involved in a successful online transaction. Since all of these entities offer a service to the user, they are entitled to a small fee which we have detailed below:

Bank Charges: This is the amount that the acquiring bank charges for providing card payment services. This rate is in guidance with specifications provided by the RBI (Reserve Bank of India). One of the components included is the ‘Interchange’ which is a fee given by the acquiring bank to the issuing bank for their card transactions.

Processing Charges: Your payment aggregator might also have to pay certain fees to other players in the loop like online wallets or banks for processing payments of a specific type. They would include this in the amount they charge you for every successful transaction.

TDR – Transaction Discount Rate: This is the amount that the payment gateway charges the merchant while transferring the money to their merchant account. This is specified by the gateway itself and includes the above charges. In India, this is interchangeably used in common speech with MDR (Merchant Discount Rate).

In conclusion, TDR = Bank Charges + Processing Charges + Taxes

**Payment Aggregators also provide additional services and products for managing your payments and hence on a case-to-case basis, may charge an additional service component.

And there’s more, but that’s for another time!

This obviously is not the end of the terminologies, but this is where we will stop for now. The Indian payments industry has been evolving rapidly and payment gateways have become essential for all businesses; whether online or operating out of a brick-and-mortar space. Hopefully, these jargons have helped you understand our world better!

How to Start an Online Store on Shopify

start an online store on shopify

E-Commerce has finally geared up to operate fully again and with the demand levels slowly rising, we can expect to see new players in the market once again. If you’re looking to start an online store, look no further, here’s the ultimate recipe to start an online store on Shopify!

Shopify is one of the largest e-commerce platforms in the world with over 1,000,000 online sellers! Its popularity can be attributed to its ease of use and hassle-free integration coupled with a smooth onboarding process.

In this article, we’ll be looking at the quickest way to get back to business or kickstart a new venture by creating an online store on Shopify and some must-have tools in your toolbag. 

Steps to start a Shopify store

First things first, it’s important to set a goal for your store. Whether it’s revenue or order count, make sure to have your North Star in place. Make sure to have a store decked with the essentials. A basic store serves this goal perfectly well. 

Let’s look at the steps you need to ensure to set up your store on Shopify:

Step 1: Pick your online store name

The first step to starting your store is to pick a suitable name for your business. E-Commerce as an industry allows you to be creative with names according to your sub-industry. 

If you’re having trouble coming up with a good name, you can try out the Business Name Generator.

Step 2: Register for a Shopify store 

Modern times have definitely made it easier for e-commerce entrepreneurs to start their business. Previously, you had to get a server, upload an e-commerce system to it, hire someone to change it according to your needs, and pay to maintain it. It was expensive, time-consuming, and the final results were not worth it anyway.

On Shopify, the server setup and maintenance is taken care of. All you need to do is click on the “Start free trial” and click on “Create store”.

We also have special discounts in collaboration with Shopify App Store as part of the back-to-business package, but we’ll get to that in some time!

Step 3: Choose a theme for your store

You can either go for a preset theme or customize your theme according to your preferences. Shopify has also built a free custom theme to help Indian businesses go online in less than an hour

Visit the Shopify Theme Store and choose a theme. There are many free options. If you’re looking to save time, try and find one that won’t need many changes. 

A sample plug-and-play template, customized from Shopify’s end to make it easier for you to launch the online store has been created. Download the theme here.

If you want to customize your theme or edit the store’s look, go to Online Store → Themes → Customize Theme. You can also spot sections to edit the header, body and footer of your page.

Step 4: Decide on a fitting business logo

What do Nike, Adidas, Puma and Louis Vitton have in common? They all have distinct, easily-recognizable logos that identify the brand at first glance.

The next step to creating your online store is to upload your business logo. Just like your company’s name, a logo is equally important for your business.

It’s recommended to hire a professional designer to design your logo befitting to your brand image. Keep in mind that a well-designed logo can go a long way in increasing brand recall too.

Hatchful is a trending, beginner-friendly logo-making website that has been making waves on social media platforms like TikTok. Make sure to check it out!

Step 5: Set up your standard webpages 

In order to set up a fully-functional website, you need to set a few basic webpages in motion. To start with, here are a few must-have pages for any e-commerce website: About Us, Terms & Conditions, Privacy & Returns Policy, Shipping & Delivery Information, and Contact Us.

On the Shopify platform, to create a page, visit → Online Store → Pages → Add Page to get started. Make sure to also do regular content checks to ensure that your website is well-written and adheres to SEO guidelines.

Also, ensure to upload your policy page correctly to ensure trust between you and the customer. To quickly create basic policy pages for your store, go to Settings → Checkout and scroll down to the Refund, Privacy, and TOS statements section to generate each policy sample.

Step 6: Add products

From your Shopify admin dashboard, head to Products > All products. From this page, click the button Add product. Enter a title for your product, along with a product description and photo. Make sure to add variants (e.g. different sizes, colors, etc).

You can group products into categories by following the instructions outlined in this article.

Step 7: Ensuring safe payments

A big part of the shopping experience is ensuring safe, hassle-free and secure payments. Make sure to choose a payment gateway that caters to your needs, to begin with. A payment partner like Razorpay can help you with the above requirements. Razorpay offers one-click integration with Shopify to start accepting payments on your online store.

Step 8: Setting up shipping 

Shipping, undoubtedly, is a factor that can make or break your relationship with the customer. Shipping can be hassle-free if you have a lean management system to help you streamline your process. 

Have a legitimate shipping partner and a good Order Management Software (OMS) to enable the customer to have a smooth tracking experience. Shopify is integrated with major logistics aggregators across India like Shiprocket, Vamaship, Shyplite and other leading courier partners in India. 

A transparent tracking system can significantly up the trust levels between you and the customer. Here’s a step-by-step guide to setting up your shipping rates on Shopify.

Step 9: Billing information 

Before launching your store, you’ll need to enter your Shopify billing information but you won’t be charged until your 14-day trial ends. Navigate to Settings → Account and enter your billing information.

Your store is now good to go!

Getting back on track with Shopify back-to-business 

The Indian government has finally eased the lockdown regulations and it’s clear that e-commerce businesses need to re-invent to suit the future. Right from how businesses function to how a consumer interacts with them, things have changed, leading retailers to choose different paths than expected of them. 

Shopify, in its attempt to make it easier for businesses across India to get back up after the COVID-19 slowdown, has partnered with Razorpay and other e-commerce solutions that will enable businesses to adjust to the new normal in the coming months. 

From marketing solutions to payments, logistics and more, you can find recommendations to suit your business.

Whether you already have an online store or you’re looking at setting up one, this toolkit has every solution and offer you’ll need to set up shop online at minimal costs and grow your business. 

From Razorpay to Freshdesk, discover attractive discounts on a horde of useful products, only on the Shopify back-to-business page. Find it here!

Must-have tools to boost your e-commerce business

Razorpay- Online payments simplified

Razorpay is highly trusted among Indian shoppers and businesses, providing local wallets and a variety of payment methods for your Shopify store. 

The one-click integration between Razorpay and Shopify is built to help Indian merchants set up a secure payment gateway on your Shopify store in no-time. By setting up Razorpay, you can accept, manage, and disburse payments without losing revenue in large transactional fees.

Check out Razorpay → 

Thirdwatch- Reduce RTO losses

As more brands are going online and consumers start to make purchases digitally, the chances of fraud increase too. Whether it’s about detecting impulsive purchases or incomplete addresses or even profiling suspicious users, Thirdwatch can help you with that.

Thirdwatch is an AI-powered offering that enables online sellers to prevent Return-To-Origin (RTO) fraud losses. The app’s AI engine evaluates every order in real-time and provides actionable results to weed out orders likely to result in RTO.

Check out Thirdwatch →

AdYogi – Automate e-commerce advertising

AdYogi is a marketing SaaS platform that automates and optimises Facebook, Instagram and Google Ads for your e-commerce store. AdYogi is a Google premier partner and Facebook Agency Partner. Their digital strategy team helps you plan and execute to scale online revenues by 10x.

Check out AdYogi →

Shipway- Shipment tracking and automation

Enhance your post-buying experience with Shipway’s all-in-one shipment and package tracking tool & tracking APIs for e-commerce businesses. Let your buyer feel a branded experience with the branded tracking page, in-order tracking status and much more!

Shipway enables you to automate order status notifications, shipment tracking and capture order reviews on successful delivery. Once you start taking orders on your store, it is important to keep your customers informed about the order status. This lets them know when they can expect the delivery of an order and plan their other purchases accordingly. 

Check out Shipway →

Vamaship- E-Commerce logistics management

Vamaship is a prominent logistics aggregators in India preferred by a number of Indian brands. They work with leading courier partners to provide you with affordable shipping and logistics partners. 

Vamaship’s integration with Shopify allows you to manage your order shipment and fulfilment within your store’s dashboard.

Check out Vamaship →

Ezyslips – E-Commerce back-office automation 

Ezyslips is an E-Commerce back-office automation tool that helps businesses in carrier API integration, multi-channel shipping management, automatic order allocation according to the service types, zip codes and weight, fulfilment automation, NDR Management and much more.

Check out Ezyslips →

That ends our blog on how you can start an online store on the Shopify platform and some tools to help you boost your business. Make sure to get in touch with us if you have any questions about how Razorpay or Thirdwatch can aid your business!

Celebrating 2020 Days of Razorpay

Today is an interesting day for us. Razorpay turns 2,020 days young on 29 June 2020!

This means that over 5 years have passed since we began powering your financial systems so that you could continue challenging the status quo with new ideas, products and experiences. 

We have helped businesses across industries create an impact. From helping collect donations worth over Rs 237 million for Kerala floods and COVID-19 relief measures, to providing capital support to over 2,500 startups, the journey has been a remarkable one. 

The infographic below captures this journey in a beautiful way.

When we think of this time in terms of two thousand and twenty days, it seems like a long period of time. But it is time that has flown by us. The last couple of years have gone by at a particularly fast pace, because Razorpay has also evolved at a very fast pace during this time.

From a payments solution provider to a neobank.

We are now present at every stage of a business’s money management processes, powering their finances to help them grow their business. 

So what does day 2,021 and beyond look like for Razorpay? Well, stay tuned. Cliched as it may sound, there are actually miles to go before we sleep.

A big thank you to the Razorpay Team for this wonderful effort. Isha, Anuj and Anupriya from the Design team, Khushali and Sreya from the Content and Social Media teams as well as Sharath and Shreyas from the Product Analytics team for putting this together.

Unveiling Razorpay’s Affordability Suite to Sail Through the Pandemic

Affordability suite Razorpay

We have built the Razorpay Affordability Suite to make things easy and smooth for the price-sensitive market of India.

With a majority of their customers under lockdown, shops with shutters down, cash flow almost dried up and the entire staff withered, the concern for most business owners is how they are going to survive the pandemic.

Amidst all of this, we also keep learning about companies trying and experimenting with innovative ways to plan the road ahead.

There is certainty in the fact that the post-COVID-19 world will accelerate some existing trends and create other new ones. Every business, whether online or offline, will have to evolve and iterate themselves in order to thrive. But the bottom line is, there’s no way to predict what will happen in the coming months and what the graph of our economy will look like.

Businesses, big and small, are all taking advantage of new commercial opportunities and while they are at it, we, at Razorpay, have something to offer from our end. Any individual or business can now start offering multiple options to make their offerings affordable and keep their customer happy and their business running. Read this article to know about one of our latest offerings.

Razorpay Affordability Suite: What, why & how

The current trends suggest that Indian consumers are getting used to checking for offers and EMI options when they make a purchase. These options, which were introduced by e-commerce giants, are transformed into a habit, influencing the cart value as well as overall buying patterns. 

That said, affordability has always been the central concern for every buyer. Businesses are looking for ways to make their products and services affordable. However, most SMBs and startups have to face a lot of challenges with banks when it comes to enabling the EMI option as a payment mode for their customers.

Razorpay’s Affordability Suite comes as a solution for these challenges. We are a one-stop solution for everything payments and we are only getting started! Listed below are three of the major offerings under our Affordability Suite.


We all know what an EMI is and how it works. With Razorpay’s Affordability Suite, you can offer 3 EMI options to your customers. 

1. Credit card EMI

Oftentimes, if a business owner wants to offer an EMI option on credit cards, they are asked to meet certain requirements in terms of GMV, their credit history and so on. Infact, in most cases, banks look for a bigger name and in the process, growing businesses are overlooked. With Razorpay, you can start offering credit card EMIs to your customers without any intervention from banks.

2. Debit card EMI

As the name suggests, this option offers an EMI against a debit card held by the customer. Very few businesses get approval by the issuing banks to offer debit card EMIs. Infact, there are approximately 50.3 million credit card holders against 840.6 million debit card holders in India. This means that a majority of your customers never had access to EMIs in the past. With Razorpay’s Debit Card EMIs, you can now make your products/services more affordable for a much wider audience, including consumers in tier 2 & 3 cities.

3. Cardless EMI

One of the latest payment modes is cardless EMIs. Here, payments are made via credits approved by the supported cardless EMI payment partners without any need for an actual credit or a debit card. These partners are businesses like ZestMoney, EarlySalary, InstaCred etc. Cardless EMI has approximately 20 million active users, which is growing by 100% year-on-year. 

Razorpay has partnered with these providers and any business can add this option in their checkout to offer the best payment experience to their customers. 


PayLater is a virtual credit card. This is a one-click checkout option that is preferred for on-the-go payments, especially by millennials.  For a business, it is a great option to have in the payment window as it helps in enhancing user experience and keeps calling your customer back because of your offerings. Infact, currently, the user base for this mode of payment is around 50 million!

However, as a business, it might get tedious to do individual integrations with each of these enablers. And this problem of multiple integrations is what the Razorpay Affordability Suite solves. We have directly partnered with the best players to help businesses offer the most trending payment solutions to their customers.


An offer is an incentive you provide to your customer to make a purchase decision on your website or app. One of the most commonly used offer types is ‘price discounts’. However, creating and running these offers comes with a lot of tech effort. 

We have built Razorpay Offers to ease this process. With this feature, you can run offers anytime, track them from the dashboard and analyse the performance to make better business decisions.

Read more about Razorpay offers and how to get started here.

These are the features of the Razorpay Affordability Suite. Let us now talk about some of the potential use cases in the current times of this pandemic.

Use cases of Razorpay Affordability Suite

While almost every sector has been massively affected by the pandemic and its consequences, the Razorpay Affordability Suite can help businesses in many sectors spring back to their feet. Some of these sectors and industries are:


Edtech is one of the sectors that has seen massive growth during the lockdown. People from all folds of society have experienced education online in some form or the other. While education should be and is equal for all, financial status isn’t. Some courses are expensive and people cannot afford to pay the lump sum amount. Businesses who are offering online courses can now offer options from the Razorpay Affordability Suite to make the purchase easier for their customers.


E-commerce websites have seen a massive surge in orders since the lockdown restrictions have been lifted. Consumers are now buying essentials as well as non-essentials online.. The average basket size is expected to increase if the e-commerce businesses offer an option to pay through options like EMIs, offers and PayLater. 


While there are structured packages for tests across the healthcare industry, it would be a good time to start offering partial payments, EMIs and offers etc on those. Many people restrict themselves from undergoing even the basic tests as they are too expensive. If the laboratory owners and online pharmaceuticals can offer options from the Razorpay Affordability Suite, it might come as a relief to a lot of families during these tough times. 

These three are the major industries, but affordability options can be used by any business in any industry. Let us now talk about the benefits of Razorpay Affordability Suite for businesses. 

Benefits of Razorpay Affordability Suite for businesses 

Now that you know the basics of this product suite in detail, let’s talk about the advantages it brings to businesses:

  • Enabling one of these offerings on your business will help you acquire the customer who would have otherwise dropped off because of the higher ticket size, which is required to be paid upfront
  • Affordability tops the chart when it comes to any buyer’s priority. If you are able to make them believe that they can afford the product or service by paying in instalments, you will be able to keep them with you for longer 
  • Data shows that if there’s an option to pay through EMI, the buyer will end up shopping more than they would have otherwise
  • By offering options like cardless EMI & PayLater options, you will be able to invite the buyers from tier 2 & Tier 3 cities who do not have easy access to credit. In the long run, this will help you penetrate into new geographies and consumer segments
  • Running an offer will no more be a pain with this product suite. There’s no coding effort required and different offers can be managed from one dashboard
  • Lastly, all of this will lead to one major advantage: Superior customer experience. And remember, a happy customer is the biggest asset for any business! 


Even in the most normal situations, running offers, adding EMIs & PayLater options has become one of the mandatory things for businesses. With Razorpay, businesses from every vertical and of every size can make the best of the affordability trend. 

Recent statistics show us that the finances and budgets of individuals are not going as planned. This directly affects your customer’s buying patterns. Hence, during these times of pandemic and financial crunch, offering diverse modes of payments can help your brand stand out. 

Sign up on Razorpay to make the best of the Affordability Suite!

Why a Current Account is Crucial for Businesses

current account

Setting up a current account is one of the most important tasks you simply cannot skip while starting your business. It is very crucial for you to keep your business banking operations separate from your personal banking. 

Having a current account for your business helps you keep track of all your expenditure while simplifying your taxation process.

Before we get started, let’s understand what a current account is.

What is a current account

A current account is opened by businessmen, entrepreneurs, and more, who have to make a large number of transactions regularly. 

Since the volume of transactions, as well as the amount per transaction are generally high, no interest can be availed upon the balance. But, a current account helps with deposits, withdrawals, and contra transactions.

You can open a current account in any commercial bank.

Advantages of having a current account

The whole purpose of a current account is to facilitate entrepreneurs and businessmen to carry out their transactions seamlessly, on a day-to-day basis. 

Here are some advantages you could get by having a current account for your business. 

#1 Current account = any number of transactions 

One of the most important advantages of having a current account for your business is that there is no constraint on the number of transactions. You can transact any number of times at whatever frequency you need to. 

Plus, the upper limit for transactions is so high that you don’t have to worry about money movement at all! This enables your business to have maximum fluidity in terms of operations. 

#2 Keep your personal assets from your business

It is of the utmost importance to keep your personal and business assets disjoined.  It is always recommended you have a current account so you can track your cash inflow easily. This gives you a superior way of planning and managing your budgets. You also get a roundup on your expenditure.

Having a clean financial record allows you to organise your data, which can come in handy for taxes and deductions. Great bookkeeping is always a bonus!

#3 Current account makes your operations easy

Delayed transactions can result in unwanted hiccups. A current account is just what you need to keep your business operations running like a well-oiled machine! 

Your day-to-day transactions are carried out effortlessly and proficiently. Without any delays or jam-ups with your operations, you also get benefits like online banking. The speed of your transactions is usually high, which helps you maintain a good rapport with your vendors and customers!

#4 Current account translates to business legitimacy

Sure, we already talked about the importance of keeping your personal and business assets away from each other. But there is more. As a businessperson, you may write cheques or make online transfers to your vendors, partners, and more. It may seem unprofessional when you make payments from your personal account.

This is not entirely a deal breaker, but having a current account in the name of your business allows your payees to feel affirmed about you having a legitimate business.

#5 Reap extra benefits from your current account

Your current account has all sorts of other benefits that you would typically get from your savings account.  Based on your business, your bank will offer you free Demand Drafts, NEFT and RTGS transactions, Pay Orders, and more, other than the unlimited withdrawals and deposits you can make with your current account. 

Now that we have talked about nearly everything current accounts can help you with, let us break it to you. There is a whole lot more you can get with current accounts.

Introducing RazorpayX Current Accounts

What if we told you that you could get all the benefits we mentioned above, and then some more?  Traditional business banking is not the most efficient way to manage finances. And, several Razorpay merchants told us how suboptimal their business banking experience is.

We conducted a survey among 1500+ CxOs and spoke to 400+ merchants to understand their business banking experience.

  • 64% of companies believe their payment service providers are best equipped to solve their payment challenges as opposed to banks
  • 10x as many companies polled believe payment service providers innovate better than banks
  • 36% of businesses believe manual dependency and reconciliation are the biggest challenges in their current money management

During the survey, another significant problem that stood out was automating money movement. Businesses spend lots of time and money to get their financial operations moving without any trouble. And, with RazorpayX, we aim to put a stop with all problems around money movement.

We built RazorpayX Current Accounts to help you kickstart your journey towards an efficient and seamless business banking experience. The RazorpayX ecosystem provides you with effective end-to-end money movement capabilities, giving you real-time insights on your transactions.

Payouts via Dashboard and APIs

If you already have a current account in a bank, you surely know that API integration takes forever. With RazorpayX Current Accounts, you get APIs by default.

Integration takes very little time and you can start making payouts to your vendors, customers, partners, employees, and more, almost instantly. You can also make or queue your payouts using the RazorpayX Dashboard. 

Approval workflow

Although approval workflows are available with banks, they are quite difficult to set up. And once they are set up, changing them is very difficult since it is long and laborious, involving many documents.

With RazorpayX, approval workflows are very smooth, right from setting them up and changing them. All you have to do is raise a request and our Ops team will get them done in no time. 

Smart insights and reports

RazorpayX converts your financial data into information, and information into insights, so that you have a better overview of your money movement.  

  • View financial summaries of your transactions with customers, vendors, employees, etc.
  • Drill down views of transactions at a contact level and a category level
  • Instantly access/download financial reports and summaries of your contacts
  • Get data on real-time transactions that help you make better business decisions

Apps and integrations

This is one among other things that makes RazorpayX Current Accounts truly stand out from banks. RazorpayX comes with its own set of apps that give you value-added benefits.

Your business banking operations will be much smoother with apps like Vendor Payouts, Payout Links, and Payroll With these integrations in place, your current account will be 10x times more efficient than your average current account.

[ Suggested reading: RazorpayX – How Businesses can Simplify Payouts ]

The verdict

The real difference is how RazorpayX Current accounts comes with its own package of everything you could possibly need for smooth money movement. 

RazorpayX is your one-stop virtual CFO that you need to maintain everything in one place and keep your money moving efficiently.

Simplifying 80G Receipts for NGOs with Razorpay Payment Pages

80G receipts for NGO

In times of strife as in times of calm, NGOs have always strived to make the world a better place. Today, amid crises and turmoil, NGOs are working day and night to ameliorate the lives of those hardest hit.

Online donations are at an all-time high for NGOs. In fact, there was a 180% surge in NGO donation transactions in the first 30 days of the lockdown.

[Read more: Special Report: The Impact of Lockdown on Digital Payments]

With donations pouring in from all parts of the world at such a rate, keeping up with receipts and invoices is no mean feat. Accepting donations, providing confirmations and generating 80G receipts for tax exemptions should not bog NGOs down when working for the cause is paramount.

We, at Razorpay, have done our bit to make online transactions seamless for NGOs. Razorpay Payment Pages has been instrumental in running several successful donation drives and even routine donation acceptance.

We’re taking a step further in our quest for innovating and creating the finest payment solutions with Payment Page Receipts

What are Payment Page Receipts?

Razorpay Payment Pages, since its launch, has made waves in the not-for-profit sector, enabling several NGOs to collect donations and sell products for their causes.

With Payment Pages Receipts, NGOs no longer have to generate 80G receipts manually. Confirmation receipts are generated instantly and are sent to donors via email as soon as their transaction is successful.

Why NGOs need Payment Page Receipts

Payment Page Receipts aim to help NGOs streamline their operations and ease a major chunk of their administrative burden.

Heavy involvement of manual labour

Generally, NGOs using Razorpay Payment Pages use their own invoicing mechanisms to generate invoices and receipts based on transaction reports. They download the donors’ names, email addresses and other details, and send the receipts manually. 

NGOs end up hiring individuals to manage their receipts and confirmations. Using multiple channels for confirmation adds to the workload, thereby consuming a lot of manhours. Hiring more employees just to keep up with receipts simply increases their operational costs, making the entire process quite expensive.

Data storage woes

Sometimes, donors do not remember the information they have entered in input fields. The situation gets worse if they have made multiple contributions. It can, thus, be extremely difficult for NGOs to keep track of receipts, sent and unsent.

To counter that, NGOs often store customer data and receipt particulars. However, maintaining sheets with such voluminous data is very cumbersome and time consuming.

Roadblocks in claiming exemptions

This is a major issue for NGOs and donors alike when it comes to claiming tax exemptions. As per Section 80G of the Income Tax Act, taxpayers can claim tax exemption on the amount donated to certain funds or charitable organisations. 

Donors often provide insufficient information while making donations, which results in the generation of non-80G compliant receipts being given to them. Later, the NGO staff have to dive into their records to confirm the donors’ particulars and regenerate appropriate receipts when they need to provide complete details for tax exemption.

With manual reconciliation and several means of communication involved, NGOs often take a very long time to send out these receipts. This is stressful for donors and NGOs alike, especially if there are last-minute requests for receipts by donors when they claim exemptions.

The antidote: Payment Pages Receipts 

Here’s how Payment Pages Receipts can make your life easier and operations smoother.

  • Reduced operating costs: You no longer need to hire someone just to send out and keep track of receipts. Payment Pages does it automatically for you
  • Immediate post-donation confirmation: The donor receives a receipt instantly after making the payment. No more keeping track of unsent receipts and delayed manual confirmations
  • Fewer support queries: With instant automated receipts, support queries can be avoided as the donor knows exactly what they have donated
  • Better for your brand: Instant confirmation helps cement the brand image and trust for all the transacting parties. Let your donors remember the good cause, not the hiccups in the payment experience
  • Storage simplified: The Razorpay Dashboard serves as a handy tool when it comes to storing your donors’ details and receipt particulars
  • Tax filing made easy: NGOs no longer need to go fishing into their records for their donors in the tax filing season, when the donors wish to claim tax exemptions. The receipts generated for NGOs with all the claim related information will be sent to them the moment they donate successfully

It’s your turn

Excited to try out Payment Pages Receipts for your NGO? We bet you are.

Haven’t made your payment page yet? Check out our Payment Pages demo and unlock the secret to seamless, hassle-free payments!

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Prevent Fraud on Your Online Store With Shopify Tags

shopify store e-commerce shopify tags

Shopify, one of the world’s largest e-commerce hosting platforms, powers over 6,00,000 online businesses and houses at least one million active users! With attractive website themes, clear UI, lakhs of Shopify tags and APIs to choose from and many more lucrative features, it is the one-stop-shop for e-commerce beginners. Shopify has users from 175 countries and its popularity isn’t unprecedented. Shopify online stores come with a variety of advantages such as:

  1. Speed and security – Shopify is currently integrated with multiple payment providers, and its built-in quick checkout allows customers to pay with minimal load time.
  2. Marketing – Shopify allows custom Title tags, meta descriptions on every category page for SEO and allows you to build customized landing pages to market your online store better.
  3. Design – Like industry peers such as WordPress, Shopify offers multiple free themes and numerous custom-built premium themes, along with the option to customize and add features for Developers.
  4. Shopify App Store – The Shopify App store hosts thousands of apps and provides you with all the features that you need to run an online business. It provides various free and paid apps and adds flexibility for brands having an online presence.

We at Razorpay Thirdwatch, have consistently aimed to provide the best fraud prevention services to all Shopify users. That’s why we’re here with some great news!

As you may be aware, Thirdwatch is an e-commerce fraud prevention tool that helps online sellers detect risky orders that signal cancellation and consequently bring down RTO. With the all-new Shopify Tags feature, Thirdwatch can now capture risky orders directly from your online Shopify store. All the details on how Shopify tags and Razorpay Thirdwatch can help your e-commerce business are below. Let’s begin!

What are Shopify tags?

Shopify tags are a great way to organize your online store in the backend. Tags are not visible to users, but go a long way in filtering information on your online store.

You can use tags to label products, transfers, customers, orders, draft orders, and blog posts.  One way you can use tags is to group related products so you can make changes to them more quickly.

For example, you could add the “Fall collection” tag to your retail store. At the end of the season, you could search for the “Fall collection” tag on your Products page to get a list of the specific products and use a bulk action to hide them from your sales channels.

How to add a Shopify tag to your store

Adding tags to your store is a pretty simple process. You can add a tag when you are creating or editing products, transfers, orders, draft orders, customers, or blog posts.

Here’s how you can do it:

  1. Open the specific product, transfer, order, draft order, customer, or blog post details page in Shopify.
  2. In the Tags section, enter the name of a tag you want to add or select it from the list of existing tags. If you enter the name for a new tag, then it will automatically be created for future use in the section. You can search for ‘Thirdwatch’ to find our tag.
  3. Lastly, click on Save for the changes to reflect.

What are Thirdwatch Shopify tags?

Razorpay Thirdwatch is an e-commerce fraud prevention tool that flags suspicious orders that could signal a cancellation. Depending on different risk factors, Thirdwatch flags it as a ‘red’ flag or a ‘green’ flag. The seller can then choose to make a decision to either approve or reject the order.

All the above actions usually occur on the Admin dashboard that the online seller will have access to, once they install Thirdwatch. With the new Shopify tags feature, they can now directly capture and make decisions for orders from their Shopify store.

The Shopify Tags feature is also great for e-commerce developers who create online stores, OMS, etc. for e-commerce sellers. With this feature, developers can segment history data according to different Thirdwatch tags, including flagged and decisioned orders.

Types of Thirdwatch tags


TW-Red This flag indicates a high-risk order that needs immediate decisioning. The seller can choose to approve/reject the order once flagged red.
TW-Green This flag indicates a healthy order with no signs that may indicate a cancellation. This means that, as per Thirdwatch’s criteria, your order is good to go.


Approval status

TW-Approved If an order is flagged as red by Thirdwatch, and it’s reviewed by the merchant where the seller chooses to approve on Thirdwatch dashboard, this tag appears.
TW-Rejected If an order is flagged as red by Thirdwatch, and it’s reviewed by the merchant where the seller chooses to decline on Thirdwatch dashboard, this tag shall appear.


Address updation

TW-ShippingAddressUpdated This refers to incorrect/incomplete addresses that require address updation for successful delivery. This tag appears when the seller updates the address on the Thirdwatch Dashboard.


With the all-new Thirdwatch tags feature, get timely updates on address confirmation, order status and much more! Get in touch with a Thirdwatch expert today if you have any questions on how Thirdwatch Shopify tags can add more value to your business!

Payout Links: Automate Money Transfers Without Bank Details

The COVID-19 pandemic that unfolded recently has resulted in a significant change in the way transactions are carried out today. While the demand for goods and services is increasing, many e-commerce businesses and online gaming companies are struggling with their manual financial processes to get instant access to their customers’ bank account details for refunds and prize money.

E-commerce is one of the largest online businesses in India today. Granted that most e-commerce businesses accept payments online, over 60% of Indian consumers still prefer CoD (Cash on Delivery) over making an online transaction.

This mode of payment creates a gash in the system for businesses if their customer wants to return their purchase since the business does not have the bank account details of their customer. 

Let’s face it. On average, about 30% of online businesses experience returns. Since CoD facilitates a big chunk of online purchases, this is not a problem that can be overlooked. 

What is RazorpayX Payout Links? 

Payout Links is the easiest and fastest way to disburse funds into your customers’ preferred bank account via IMPS, UPI, NEFT, and RTGS.

What problem does Payout Links solve?

Like we mentioned before, CoD refunds are something that most e-commerce businesses face. The process is manual, not to mention time-consuming. 

Here’s what happens when a customer returns their purchase, opting for a refund.

  1. The business sends out a form or an email which the customer needs to fill out with their bank account details
  2. The business hands the details over to the team responsible for making payouts to complete the refund process
  3. If the customer does not respond to the email or form, an agent from the company reaches out to them via call or email 

So, what’s wrong here?

The first thing that’s happening here is that once the business receives the information sent by their customer, they actually have no way of verifying the validity of their account information. 

Next, the finance team will collate the information and make a one-off payout by uploading the account information on the bank’s portal, or make a bulk payout if there is more than one refund. 

There are multiple iterations for something that can be very straightforward. The business, the finance team, and customer care executives are involved for the refund to take place successfully. This takes up many many hours of manual processing, while this time can be utilised for other important tasks. 

This is why a refund takes 5 to 7 business days, making it difficult for both the business and their customer. 

Can you imagine this entire process carrying through in minutes? That is precisely what Payout Links can do for your business.

How does Payout Links work?

Payout Links helps automate the entire process of making a refund to your customer within minutes. All you have to do is create a Payout Link on your RazorpayX Dashboard by entering your customer details along with the amount that needs to be refunded. You can send the Link to your customer or have RazorpayX send it out. 

Also, if you need to create several Payout Links, you can use APIs to create them in bulk.  Now that your customer gets the Link, the process is done in a blink.

Here’s what happens next.

  1. Your customer opens the Payout Link and verifies themselves via OTP
  2. They enter their preferred account which can be a bank account, or their UPI ID
  3. On successful entry of their account details, they receive their refund almost immediately
  4. Your customer is notified if there is any error with the account details they have provided, so they can re-enter the details or try with a different account

Why make your customer wait for 5 to 7 business days? With Payout Links, you can easily reduce the multiple touchpoints and automate the process, and make the refund in a few minutes! Talk about elevated customer experience!

Bonus: If you have already made a refund using Payout Links to your customer, their account details automatically populate the next time they receive a Payout Link from you. However, they can still add a different account if they choose to. 

Popular use cases

To further help you understand how you can make the most of Payout Links, here are the top use cases.

E-commerce: Like we discussed before, e-commerce companies that don’t have a wallet of their own, or need bank account details to set up a customer account, can make use of Payout Links to make refunds to their customers.

Rental businesses: Most rental businesses take an upfront security deposit for the rental services they provide. And, once the rental period is over, they refund the security deposit to their customers after making internal quality checks. Payout Links works best for this use case.

Online gaming: Gaming companies (and other companies) that offer rewards, cashback, and reimbursements to their customers can use Payout Links to disburse money in real-time, since instant gratification is very important in these cases.

Suggested reading: Money Movement Decoded for Online Gaming Companies

payout links ecommerce cod refunds

The Day of the RDS Multi-AZ Failover

On a fateful Friday evening on December 2019, when a few of us were looking forward to packing their bags and going home, we got an alert from the internal monitoring tool that the system has started throwing unusually high numbers of 5xx errors.

The SRE team quickly realized that one of our main applications (called “API”) was not able to connect to its RDS (MySQL) database. By the time we could make any sense of the issue, the application came back up automatically and the alerts stopped.

Looking at the RDS logs, we realized that the master instance has gone through a Multi-AZ failover.

According to the SLA’s provided by AWS, whenever an instance marked as multi-AZ goes through a failure (whether it is a network failure, disk failure, etc); AWS automatically shifts the traffic to its standby running on a separate AZ on the same AWS region. The failover can take up anytime between 60 and 120 seconds, and this was the reason our master instance automatically came back up after around 110 seconds and the application started working without any manual intervention.

Replication failure

The API master instance has a set of 5 replica instances which are used to query different sets of workloads in various applications.

While the application stopped throwing errors and started working, we received another set of alerts stating that the replication on all the replicas had failed.

All the replicas displayed a duplicate-key error message. We immediately shifted all the traffic going to these replica instances to the master instance so that the application does not receive any stale data and display incorrect data to the users.

The drawback of moving all the traffic to the master was that all the heavier selects were also moved to the master, and the CPU load on the master instance increased by 50%. Hence, our immediate move was to recreate all the 5 replicas so that we can move the replica load back as soon as possible.

The new replica creation process internally creates a snapshot from the master instance of the current data and then starts a DB instance from that snapshot. The very first snapshot from a particular machine takes the snapshot of the entire data until now, but the subsequent snapshots are incremental in nature. In the past, we had noticed that these incremental snapshots take around 15-20 minutes for the API database.

While taking the snapshot, we experienced another reality-check. The process was taking more than the usual time that day. After an hour or so, when the snapshot creation was still in progress, we were forced to contact AWS tech support to check why the whole process was taking much longer that day.

The AWS tech-support informed us that since the master instance has gone through a multi-AZ failover, they had replaced the old master with a new machine, which is a routine. Since the snapshot was being taken from the new machine then and was the very first snapshot from the new machine, RDS would take a full snapshot of the data.

So, we had no other option but wait for the snapshots to finish and keep monitoring the master instance in the meantime. We waited six hours for the snapshot to complete and only then were we able to create the replicas and redirect the traffic back to them.

Once the replicas were in place, we assumed that the worst was over, and finally called it a night.

Data loss

Next day, on our follow-up calls with RDS tech support, we were told that it was not a usual occurrence that the replication crashes in scenarios of multi-AZ master failover, and there must be more to the incident than what meets the eye.

This is when we started looking at various reasons on why the replication crashed. After matching the database and the application trace logs for the time around the incident, we found that a few records were present in the trace logs, but not in the database. This is when we realised that we had lost some data at the time of failover.

Being a fintech company, losing transactional data actually meant losing money and the trust of our customers. We began digging the binary logs for that time frame and matching them with the data in the store. We finally figured out that the RDS database had been missing 5 seconds of data. Right after these 5 seconds, we had started receiving 5xx errors on our application logs.

Luckily, we could dig the exact queries from the binary logs, go through the sequence of events from the application trace logs and after an 8-hour marathon meeting, were able to correct the data stored in the RDS.

How Multi-AZ replication works

It was time for us to investigate why we even fell into this situation in the first place. To solve the puzzle, we had to find the answer to the following questions:

  • How does the RDS Multi-AZ replication work?
  • What steps does RDS take at the time of a multi-AZ failover?
  • Why was the data missing in the database?
  • Why did the replication crash?

We got on tens of calls with a number of RDS solution architects over the next week, and were finally able to connect all the dots.


In a Multi-AZ setup, the RDS endpoint points to a primary instance. Another machine in a separate AZ is reserved for the standby, in case the master instance goes down. 

The MySQL installed on the standby instance is in shutdown mode; and the replication happens between the two EBS. i.e., as soon as the data is written to the primary EBS, it is duplicated to the standby EBS in a synchronized fashion. This way, RDS ensures that any data written to the master EBS is always present on the standby EBS; and hence, there will be no data loss in the case of a failover.

At the time of a failover, the RDS goes through a number of steps to ensure that the traffic is moved over to the standby machine in a sane manner. These steps are listed below:

  1. Primary MySQL instance goes through a cut-over (networking stopped). Client application goes down.
  2. MySQL on the standby machine is started.
  3. RDS endpoint switches to the standby machine (new primary).
  4. Application starts connecting to the standby machine. Client application is up now.
  5. Old primary machine goes through a host-change (hard-reboot).
  6. EBS sync starts from the new primary instance to the new standby instance.

Looking at the process of failover, it seems pretty foolproof; and the replicas should’ve never gone through any duplicate errors and we should’ve never had any data loss. 

So, what went wrong?

Incorrect configuration variable

We found a MySQL configuration parameter innodb_flush_log_at_trx_commit, which is very critical for the seamless process of a failover.

InnoDB data changes are always committed to a transactional log which resides in the memory. This data is flushed to the EBS disk based on the setting of innodb_flush_log_at_trx_commit. 

  • If the variable is set to 0, logs are written and flushed to the disk once every second. Transactions for which logs have not been flushed to the disk can be lost in case of a crash.
  • If the variable is set to 1, logs are written and flushed to the disk after every transaction commit. This is the default RDS setting and is required for full ACID compliance.
  • If the variable is set to 2, logs are written after each transaction commit, but flushed to disk after every one second. Transactions for which logs have not been flushed to the disk can be lost in case of a crash.

For full ACID compliance, we must set the variable to 1. However, in our case, we had set it to 2. This means even though the logs were written after every commit, they were not getting flushed to the disk immediately.

After learning about this variable, everything suddenly became crystal clear to us. Since, we had set it to 2, the data was committed to the master instance but was not flushed to the primary EBS. Hence, the standby (new primary) never received this data; which is why we could not find it in the master instance after the failover.

But, why did the replicas fail? And, why was the data found in the binary logs?

Apparently, there is another variable called sync_binlog which when set to 1, flushes the data to binary logs immediately. As we had set it to 1 (which is correct), the data got written to the binary logs and replicas were able to read that data. Once the data was read, replicas ran those DML queries onto them and became in sync with the old master.


Let’s say, the auto-increment value of one of the tables was X. Application inserted a new row which got auto-increment-id as X+1. This value X+1 reached the replica, but not the standby machine. So, when the application failed over to the standby machine, it again entered a new row with auto-increment-id as X+1. This insert, on reaching the replica, threw the duplicate-key error and crashed the replication.

We went back to our old snapshots (incidentally, we had kept the snapshots of the old replicas before deleting them); and were able to prove that the lost data was present in the replicas.

Once our theory was proved, we immediately went to the master instance and changed the value of innodb_flush_log_at_trx_commit from 2 to 1; and closed the final loop.

Final thoughts

In retrospect, we’re glad that we dug deeper into the incident and how we were able to reach the root of the problem. The incident showed us that we were always vulnerable to data loss because of an incorrect setting of a configuration variable. 

The only silver lining is, however, that we learnt a lot about how RDS manages the Multi-AZ setup and its failovers. And, of course, we gained an interesting tale to tell you all!

Introducing Automated Receipts On Razorpay Payment Pages

Razorpay payment receipts

In a world where online payments are the norm, giving your customers a seamless payment experience has become absolutely essential. Hiccups in the online payment process bring customer drop-offs, which are bad for business in this super-competitive environment.

We, at Razorpay, constantly strive to make payments simpler, smoother, and faster for the benefit of our customers. 

We’re taking a step further in our quest for innovating and creating the finest payment solutions with Automated Payment Pages Receipts.

But before we jump into those details, let’s rewind a little.

What are Payment Pages?

Razorpay Payment Pages enables you to create a page to accept payments without writing a single line of code. You could use a template from the vast array offered by us or customize the page to your liking. 

What’s more: your page will be made to your branding needs and even have a custom URL that reflects your brand! So, whether you have a website or you don’t, you can sell your product and accept payments with your custom payment page. All this and more, enabled in a matter of minutes!

[Suggested reading: Razorpay Payment Pages: The SME Payments Enabler]

Why automated Payment Pages Receipts?

Reassuring customers that their payment has gone through successfully is paramount in business. Businesses, therefore, take several steps to ensure timely confirmation of orders received. However, there is no shortage of problems in this regard.

Manual labour across multiple channels

Generally, businesses using Razorpay Payment Pages use their own invoicing mechanisms, generating invoices and receipts based on transaction reports. They download the customers’ names, email addresses and other details, and send the receipts manually via email, phone calls, text messages or Whatsapp. 

Businesses end up hiring individuals to manage their receipts and confirmations. Using multiple channels for confirmation adds to the workload, thereby consuming a lot of man-hours. Hiring more employees just to keep up with receipts simply increases the operational costs of businesses, making the entire process quite expensive.

Loss of customer experience

With manual reconciliation and several means of communication involved, businesses often take a very long time to send out their receipts. In fact, NGOs take up to two months to send 80G receipts to donors.

Moreover, the business also requires a quick confirmation of the successful payment and payer. A lack of instant confirmation on this end further delays the process of sending receipts. All in all, the customer experience remains incomplete until the final receipt arrives.

Data storage woes

Sometimes, customers do not remember the information they have entered as input fields. The situation gets worse if the customer has paid more than once. It can, thus, be extremely difficult for businesses to keep track of unsent receipts.

To counter that, businesses often store customer data and receipt particulars. However, maintaining sheets with such voluminous data is a very cumbersome process. 

In any case, there is an absence of instant confirmation, a lot of manual effort, and some lack of clarity on the customer’s end. A system to churn out instant confirmations with receipts is, therefore, in order.

The solution 

The Automated Payment Pages Receipts feature allows instant receipts to be sent to all your customers instantly when they make payments. As soon as the transaction is successful, the customer instantly gets their receipt via email. 

Here’s how Automated Payment Pages Receipts can make your life easier and operations smoother.

  • Reduced operating costs: you no longer need to hire someone just to send out and keep track of receipts. We’ll do it for you
  • Immediate post-purchase confirmation: The customer receives a receipt instantly after making the payment. No more keeping track of unsent receipts and delayed manual confirmations! 
  • Fewer support queries: With automated receipts, support queries can be avoided as the customer knows exactly what they have purchased, and the amount paid
  • Better for your brand: Instant confirmation to a digital purchase also cements the brand image and trust for all the transacting parties
  • Storage simplified: The Razorpay Dashboard serves as a handy tool when it comes to storing your customers’ details and receipt particulars
  • Tax filing made easy: NGOs no longer need to go fishing into their records for their donors in the tax filing season, when the donors wish to claim tax exemptions. The receipts generated for NGOs with all the claim-related information will be sent to them the moment they donate successfully

A few use cases for Payment Pages Receipts

Accepting donations 

Automated Payment Pages Receipts will ensure that NGOs no longer have to look for donor details to generate 80G-compliant receipts. Donors get an instant receipt with the information they provide, which makes claiming exceptions a breeze.

Payments for homepreneurs

Whether you are a home baker, a tutor, or an artist selling your finest pieces, Payment Pages enable you to take orders and receive payments seamlessly. And, with Automated Payment Pages Receipts, say goodbye to manual order confirmations and unsent receipts!

Take your brick and mortar store online

In times when stepping out of the house is a risky affair, many businesses are setting up shop online. If you have a physical store and want to build an online presence, Payment Pages is here to take away your woes. 

Automated Payment Pages Receipts, further, ensure that you build a robust brand image by enabling instant order confirmation and receipt generation.

[Read more: Build Your Own Online Store with Razorpay Payment Pages

It’s your turn

Excited to try out Automated Payment Pages Receipts for your business? We bet you are.

Haven’t made your payment page yet? Check out our Payment Pages demo and unlock the secret to seamless, hassle-free payments!

Razorpay Instant Settlements is the Gamechanger Your Business Needs

Instant Settlements

The financial universe of a lot of businesses revolves around various immediate obligations such as payments to suppliers, incurring revenue expenditures or paying loans on time. These obligations eat out a major portion of a business’s working capital. On top of that, the time gap in receiving payments from customers and making payments to vendors affects a business’s cash reserves significantly.

Effective cash flow is the key to survival for small and medium businesses. Whether your business is growing or just starting, smooth cash flow is the only mantra to sustain among the competition. Even a large enterprise making huge profits can collapse due to non-availability of cash or liquid funds. 

With the default settlement cycle, once customers make online payments, they will only be credited to the business’s bank account after the settlement cycle. This engages more money in the business’s working capital and causes cash-crunch. 

Is the current settlement cycle feasible for all businesses? 

Now, imagine a scenario. You have sold a product and made a profit out of it, but does that mean cash has been credited to your bank account? No, Right! The money takes time to reach your account due to our banking settlement system. Depending upon your business, it can be T+2 or T+3 settlement cycle. This can create unfavourable situations for some businesses while making payroll payments, ordering inventory and paying bills. 

Let’s understand the industry-wise pain point through the following examples:

  1. E-commerce: Online sellers and service providers, making high-value transactions, might struggle with the default settlement cycle. These businesses need funds to start working on their orders, especially during infrequent sales period such as this lockdown. With delayed cash flow, the orders might get delayed, which in turn can negatively impact businesses in a competitive market.
  2. Lending: The lender has to pay additional interest in the settlement period to their financiers, even if the money has already been sent to them. When the end-customer makes online payments, the settlement period adds a delay and interest is accrued by the lender accordingly. The business loses a good amount of cash through interest payments for the settlement cycle, and also hampers its goodwill among the financers in the market.
  3. Utility providers: Most users pay their utility bills on the last date and the default settlement cycle is an issue due to the upward trend of online payments. If the amount is paid online, it is credited to utility company’s bank account after 2-3 days from the date of payment made by users. With ever-increasing online payments and declining cash collections before the due date, the provider might fail to meet some of its financial commitments.
  4. Online education: Education providers offer courses to students in exchange for a certain amount of fees. The students pay their fee electronically, which is credited to the provider’s bank account after the settlement cycle. Meanwhile, the provider has to manage its day-to-day payouts such as teachers’ compensation, recording studio charges and so on. The time gap between these payouts and receiving fees from students affects the business’s cash flow. 

But, is it possible for a business to be cash-efficient and also fulfil various financial obligations on a daily basis? Yes!

How is Razorpay helping businesses with liquidity issues?

Wondering, how? With Instant settlements, Razorpay settles business payments immediately at a nominal fee instead of default settlement cycles. This feature allows businesses to get early access to their money, avoid daily cash flow challenges for any kind of payouts 24×7 even during bank holidays and non-banking hours

Words of appreciation from our happy customers of Instant Settlements

Here’s how the instant settlement feature helped MoneyView:

“Same-day settlements help capture EMI payments made by customers on last dates of payment and still deposit with our financing partners within the requisite period, thereby leading to better money flow management and customer experience” – By Saurav Goyal, CFO, MoneyView

Here’s what the owner of TeleAstro has to say about Instant Settlements:

“Instant settlements option helped us to manage our business with even low working capital. It’s almost like getting paid in cash instantly by our customers. We are anyway competing with bigger corporates to run our operations. So Early Settlements helps us a lot!” – By Animesh Pratap, Owner, TeleAstro

Suggested Read: 24x7x365 Settlements Even on Holidays – Never Run Out of Cash

The instant settlement feature is available to all Razorpay customers subject to a routine risk check and can easily be enabled from the dashboard. You can go to settlements tab on the dashboard and click on ‘Enable now’ or ‘Settle now’ to use Instant Settlements. Also, you can check the nominal fee applicable to such transaction before confirming. 

So, what are you waiting for? 

‘Supercharge your payments and get ready cash with Razorpay – Login now