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Paytm vs Razorpay: What are the differences?


Paytm and Razorpay are two popular payment gateway solutions in India. Both platforms provide businesses and individuals with an easy way to collect payments online. However, there are key differences between the two that are worth considering in order to make an informed decision about which one to choose.

  1. Integration Ease: Paytm offers a seamless integration process that allows businesses to quickly integrate the payment gateway into their website or application. On the other hand, Razorpay provides a comprehensive set of APIs and documentation that makes the integration process straightforward for developers.

  2. Supported Payment Methods: Paytm supports a wide range of payment methods including credit cards, debit cards, net banking, and digital wallets. Additionally, it also supports the Unified Payments Interface (UPI) for instant bank transfers. Razorpay also provides support for multiple payment methods, including cards, net banking, UPI, and popular wallets like Paytm and PhonePe.

  3. International Payments: Paytm primarily focuses on serving the Indian market. While it does support international cards for online transactions, the majority of its services are geared towards domestic users. On the other hand, Razorpay provides international payment support, allowing businesses to accept payments from customers across the world.

  4. Settlement Period: Paytm offers a shorter settlement period for merchants, typically settling payments within 1-2 business days. Razorpay, on the other hand, provides a slightly longer settlement period, usually within 2-3 business days.

  5. Transaction Charges: Paytm charges a transaction fee on every payment processed through its platform. The fees vary depending on the type and volume of transactions. Razorpay also charges fees on each transaction, but its pricing structure is more transparent and provides options for merchants with different transaction volumes.

  6. Additional Services: Paytm offers a range of additional services including bill payments, mobile recharges, and even the ability to shop at partner merchants. Razorpay primarily focuses on providing payment gateway solutions and does not offer these additional services.

In summary, Paytm provides seamless integration, supports a wide range of payment methods, and offers additional services but primarily focuses on the Indian market, while Razorpay offers international payment support, has a longer settlement period, and transparent transaction fees with a focus solely on payment gateway solutions.

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    What is Paytm?

    It is a digital payments platform that allows you to transfer cash into the integrated wallet via online banking, debit cards, and credit cards, or even by depositing cash via select banks and partners.

    What is Razorpay?

    Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and more.

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    What companies use Razorpay?
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