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Razorpay (YC W15) offers Stripe-style payment experience in India

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Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#11

Post by HashNuke »

harshilmathur wrote: post #10
HashNuke wrote: post #6

The pricing is Stripe-like if only handling domestic transactions. If a customer wants to sell internationally too then there is * 5k setup fee * 5k annual fee (excluding service tax). Approx $90/yr. * 2% per transaction Instamojo provides a nice payment experience too and with a fee of 1.9% per transaction (if you don't use the hosting feature). Wonder why the more expensive pricing. A simplified per-transaction pri…

Hi, You are right, we want to make the pricing more uniform as we go. But there are some limitations around that we need to solve. As for instamojo, they have a good product but they are not a payment gateway in the stripe sense, they are more of gumroad. They support specific type of products whose amounts needs to be pre-decided on their platform. While, we support all kinds of online transactions which you can int…

Ah yes, I was only comparing from a seller's PoV. Most non-ecommerce startups have fixed plans/pricing I guess.

B/w you might want to link to the http://docs.razorpay.com site in the "documentation" link on your homepage. And maybe rename that /documentation url to /faq instead.

In all the excitement, I did forget: Congrats on launching ~!

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#12

Post by zachalexander »

diziet wrote: post #8

It's great that there are companies targeting these specific geographies -- however, if the market is large enough and worth going into, wouldn't Stripe itself want to solve these issues? Of course, having senior leadership / on the ground folks in India is an advantage to navigating that, but isn't that what international offices are for~

If they do a good job, Stripe may just want to buy them.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#13

Post by harshilmathur »

jabo wrote: post #9

Congrats on launching in India. It's great to see activity in this space. I see a tab called "Education" which seems to list a specific use-case for a payment processor. Any particular reason you have that as a dedicated tab there? Is that the market you're positioning the service for? Also, just curious, mind elaborating on this from the article: "Right now, for a business to take online payments in the country, it…

Our initially entry point in the market was education sector but now we offer gateway to any business accepting online payments.

We have to follow the law of land and regulatory compliance but most of the red tape that the current gateways ask for is not required by regulation. The gateways are trying to make onboarding too safe and hence end up making it very complex. We want to protect the merchants from the dirty work of dealing with regulation through a very streamlined interface and we handle everything in the background.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#14

Post by harshilmathur »

diziet wrote: post #8

It's great that there are companies targeting these specific geographies -- however, if the market is large enough and worth going into, wouldn't Stripe itself want to solve these issues? Of course, having senior leadership / on the ground folks in India is an advantage to navigating that, but isn't that what international offices are for~

Frankly, we were tired of waiting for Stripe to come and improve the payment ecosystem that existed in India :D On a more serious note, Stripe has only entered payments markets that are similar to US. India is very different from those markets and for tackling it they will have to modify the product significantly to meet the regulatory rules like 3D Secure and support the dominant local payment methods. And if they do try to do that, we will still have a couple of years head-start.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#15

Post by harshilmathur »

ignoramous wrote: post #7
harshilmathur wrote: post #2

Co-founder Harshil here. We built this when we saw how the payments experience was a mess in India compared to the western world. The payments in India are much more complex than USA and Europe because of the strict regulation, multiple payment methods and unreliable bank gateways among other things. Consequently, the on-boarding experience sucks and failure rates are in double digits. We aim to tackle these issues a…

First up, congrats to you and Kumar. It takes a tremendous effort to tackle something like this in India. 0. How does your product compare against juspay.in and payzippy (which I believe has been discontinued)? 1. How much development do you plan to do open source? 2. Who have been your mentors? Merci.

0 - Payzippy was discontinued. And even so, their offerings were not much different from other gateways in the country.

Juspay offers their integration on top of other gateways. Thus, it solves only part of the problem, since you still have to deal with tough onboarding process.

1 - We are very grateful of the open-source community and do plan to give back to it in whatever ways we can. Follow our github organisation and you will not be disappointed.

2 - YC partners are really great and have provided most of the mentoring we needed. Plus, other YC companies alums form a very strong network which help you out when you need it.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#16

Post by harshilmathur »

HashNuke wrote: post #11
harshilmathur wrote: post #10

Earlier quoted context omitted.

Hi, You are right, we want to make the pricing more uniform as we go. But there are some limitations around that we need to solve. As for instamojo, they have a good product but they are not a payment gateway in the stripe sense, they are more of gumroad. They support specific type of products whose amounts needs to be pre-decided on their platform. While, we support all kinds of online transactions which you can int…

Ah yes, I was only comparing from a seller's PoV. Most non-ecommerce startups have fixed plans/pricing I guess. B/w you might want to link to the http://docs.razorpay.com site in the "documentation" link on your homepage. And maybe rename that /documentation url to /faq instead. In all the excitement, I did forget: Congrats on launching ~!

Thanks! Yeah, that's a good point, we will fix that.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#17

Post by t3ra »

harshilmathur wrote: post #4
GVRV wrote: post #3

Earlier quoted context omitted.

Hey Harshil, This looks good! What details do I need for activation? Can you charge customers in other currencies?

You can just signup in 2 minutes and start using it in test mode. Meanwhile, you can fill the activation form with basic KYC stuff to go live. The activation form should take you about 15 minutes to fill with everything on hand. Right we only support charging in INR but we do support international transactions. Support for other currencies will be coming shortly.

Is there no "bank side security check" (we were forced to add a specific "e-commerce flow" to the website because of it)

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#18

Post by shk »

harshilmathur wrote: post #4
GVRV wrote: post #3

Earlier quoted context omitted.

Hey Harshil, This looks good! What details do I need for activation? Can you charge customers in other currencies?

You can just signup in 2 minutes and start using it in test mode. Meanwhile, you can fill the activation form with basic KYC stuff to go live. The activation form should take you about 15 minutes to fill with everything on hand. Right we only support charging in INR but we do support international transactions. Support for other currencies will be coming shortly.

@t3ra I don't see a reply button below your answer. By bank side "security-check" do you mean 3dsecure? If so, then we handle it and the website doesn't need to do custom modification because of it.

Re: Razorpay (YC W15) offers Stripe-style payment experience in India

#19

Post by jobhunter123 »

harshilmathur wrote: post #2

Co-founder Harshil here. We built this when we saw how the payments experience was a mess in India compared to the western world. The payments in India are much more complex than USA and Europe because of the strict regulation, multiple payment methods and unreliable bank gateways among other things. Consequently, the on-boarding experience sucks and failure rates are in double digits. We aim to tackle these issues a…

This sounds like a really awesome startup. I'd love to know if you are ever looking to hire a software engineer (~2 years experience).

I work on an Indian e-commerce site, so just from contact with my friends on our payments team I know how complicated payments are in India.

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