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?
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.
This has been fairly new on YC's side and would like to hear from you what your view is.
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.
If this isn't a right forum for this question, can I drop a mail to discuss further?
And BTW, the API docs via readme.io - real good!
Yeah, Readme is part of current YC batch, they are awesome!
I had a couple of questions as we need something like this.
Could you outline the differences due to the legal framework? Do you allow tokens/can customers save cards?, what about 3Dsecure? Can we use POST like api calls or do we use a very customisable iframe? Can you guys do pre-authorisations (such as when capture is false on the stripe api when you create a charge)?
- Payzippy was better but still was cumbersome to integrate, we have a much easier experience, you can checkout https://docs.razorpay.com for more info.
- We do not support card tokenisation right now, it is in roadmap.
- We do support 3D secure but handle it compeltely on our end, the merchant need not worry about handling it.
- Right now, we provide iframe integration, but we will support POST calls very soon. Frankly, not many customers have asked for it.
- We support Authorization and Capture Based payment but yeah pre-auths like those in US are not supported because of regulatory hurdles.
Also, how do you get around the step where the user is redirected to the bank page to enter the 3D secure pin / internet banking password / IPIN?
Harshil and shk answered this here as well: https://news.ycombinator.com/item?id=9250136
This looks good! What details do I need for activation? Can you charge customers in other currencies?
- How are you validating the customer's business information and bank details?
- How do your transaction fees compare to ICICI and the others?
- Do you have modules/plugins for integration with any of the popular e-commerce platforms? ( We are using Nopcommerce)
During the initial onboarding process and filling paper work, we were told the site will do through a specific "bank-side security check" in which the bank officials will check the site for security issues.
Best of luck guys... And start accepting bitcoins soon ;p
* 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.
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 ~!
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."
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.
The TC article says you're live on Shifter, NanoWE & Zostel.
But, Shifter doesn't seem to have an online payment option, Zostel redirects me to PayU and cannot find anything to buy on NanoWE.
I have some questions
1. If a startup is not incorporated, can we still use Razorpay ? I guess instamojo allows it
2. If I have a static site, can I still use Razorpay for payments ?
3. What is the turnaround time for depositing the money into sellers bank account ? What is the frequency ?
4. Do you provide some webhooks functionality ?
2. Currently, we follow an auth+capture model. Our authorization is completely client-side, which means it can be performed in a browser. However, to make sure that others cannot use the same code as yours to authorize payments, captures require you to have a backend of some sort.
4. Currently no, but we plan to do this in the future.
Reg (2) Is it like https://stripe.com/checkout ? What you meant by capture the payments from dashboard ? Do you mean I have to pull the payment details from dashboard api ?
One last question : How extensively net banking is supported ?
No, you just need to login on the Razorpay dashboard and click on capture on the payments you want to transfer to your account.
We support 35+ banks in netbanking right now.
Some of q & a here can be part of FAQ section in the site.
Recently, HDFC announced new strategy around cards to be accepted by small players (http://timesofindia.indiatimes.com/business/india-business/H...). Do you think this will affect you especially in terms of the transaction fees?
At this point, I can only tell you we have a plan to launch this very soon.
Wrote a mail to you as well to understand better how I can integrate your solution.
All the very best!
few things i would like to ask
• how many people are currently employed in razorpay , what about customer service?
• integration with magento , woocommerce etc is available right away ?
• do you provide wallet services ? , and what about legal issues regarding storing card info ? i see you are pci cleared , can you clear a bit ?
• Are all credit /debit cards are supported ?
• You say i dont need a different bank account , i have an LLP , and have a ecommerce store that deals with fashion , so i wont need to have a account in LLP's name ? what about PAN card ?
the biggest hurdle is regarding the red tape and legal issues in India , if you can take care of those this is a huge demand for a service like this ( you have to scale hup your market and give an awesome experience before stripe decides to come in India )
good look , would love to be in contact :)
- Yes integration with shopify, magento, woocommerce, opencart, cscart, nopcommerce, whmcs etc. is already available.
- We are PCI Certified but we do not store card numbers and we do not provide wallet service at this time.
- Yes, all CC/DC are supported
- You will need the bank account in the name of your business. What we mean is you don't need a separate merchant account for accepting payments which some bank gateways ask you for.
Yes, that's what our aim is, to protect the customers from the red tape and complex regulatory issues while providing a clean integration experience.
Congrats on the launch! I am hopeful that recurring transaction problem will also be tackled later on.
I have a question, while it makes sense to have payments in the range of 100s I see 2.5% adding up to uncomfortable amounts easily in the range of 1000s and beyond that it's a mini heart attack :P
Do you plan to have a max cap on your charges?
many startups are gonna place trust in you ( including mine) , ball is in your court , win them over good luck
P.S what will be procedure of shifting from CC avenue to razorpay
and get wallet service as soon you can