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
#2Co-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 and shield the merchant from them, to provide a seamless, easy to integrate experience. If you have any questions, fire my way!
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#3Co-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…
Hey Harshil,
This looks good! What details do I need for activation? Can you charge customers in other currencies?
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#4Co-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…
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.
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#5Please come to Costa Rica! You can work with the Banco Nacional which has a partnership with Paypal also. We need to have a developer-friendly service.
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#6The 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
Wonder why the more expensive pricing. A simplified per-transaction pricing would be nice to sell internationally. Maybe increase the per-transaction charge for international transactions or add a fee like $0.5 extra.
P.S: I'm not affiliated with Instamojo in anyway. I've been on the hunt for a payment solution recently and settled with Gumroad actually.
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#7Co-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.
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#8It'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~
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#9Congrats 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 needs to go through a lot of paperwork, bureaucratic red tape, and wait time,
often in a process that needs to be done region-by-region."
Re: Razorpay (YC W15) offers Stripe-style payment experience in India
#10The 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 integrate directly on your site.