Razorpay, an Indian fintech company, has made its debut in the Singapore market, marking its second expansion into Southeast Asia after its entry into Malaysia.
The company now operates in both India and Malaysia, serving businesses and enabling payments for more than 200 million customers.
The entry into Singapore builds upon Malaysia’s success, where Curlec by Razorpay achieved ten times growth, the company stated.
Razorpay has introduced a suite of payment solutions for businesses in Singapore, including a payment gateway, cross-border transaction services, and real-time financial analytics.
These solutions aim to help businesses manage real-time payments and reduce cross-border transaction fees by 30-40%.
The Agentic-AI toolkit enables AI agents to assist with transactions, onboarding, integration, and financial insights.
RAY, an AI-powered concierge, helps businesses manage payments, payouts, payroll, and vendor transactions.
The platform also includes Magic Checkout, which simplifies payments with a one-click checkout feature to reduce transaction drop-offs, along with support for various payment methods, including credit cards, digital wallets, and bank transfers.
Razorpay will work with banks, financial institutions, and regulatory bodies to comply with Singapore’s financial landscape.
The company provides payment acceptance technology through its Payment Gateway in collaboration with entities licenced by the Monetary Authority of Singapore.
Razorpay MD and co-founder Shashank Kumar said: “Our expansion aligns with Singapore’s bold vision for a cashless, innovation-driven economy, and we look forward to empowering local businesses with cutting-edge AI-powered solutions to drive digital transformation at scale.
“As part of this, our new Payment Gateway, combined with a reimagined checkout and AI-powered solutions, will not only simplify transactions but also drive over 30% higher conversions, leading to increased revenues, while ensuring utmost safety, security, and compliance.”
The company is considering Thailand, the Philippines, and Vietnam as its next markets, Kumar said in a statement to the Times of India.
Razorpay Singapore South East Asia head Angad Dhindsa said: “Additionally, as real-time payments continue to redefine digital transactions in Singapore, we aim to provide businesses with faster settlements and seamless payment processing, ensuring instant and frictionless financial operations across borders.”
“India’s Razorpay forays into Singapore ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
