Comparison · Updated September 21, 2026
Razorpay vs Stripe for Indian businesses
Razorpay
B-
Razorpay is the largest online payment aggregator in India, founded in Bengaluru in 2014 by Harshil Mathur and Shashank Kumar and licensed by the Reserve Bank of India as an online, offline and cross-border payment aggregator. It charges a published flat 2% platform fee plus 18% GST on domestic cards, UPI, netbanking and wallets, with no setup fee, no annual charge and free refunds, and reported operating revenue of ₹3,783 crore for the year to March 2025 on an annualised payment volume it put at $180 billion. The product is genuinely good and the pricing is clear; the reason it does not grade higher is the other side of the ledger: a Trustpilot score of 1.4 from 449 reviews dominated by frozen accounts and held settlements, a year-long RBI ban on onboarding new merchants that ended in December 2023, and a corporate story — a March 2025 reverse flip from the United States to India, a one-time charge that pushed it into loss, and a confidential IPO filing in June 2026 — that is still being written.
Stripe
A
Stripe is a leading payment processor known for its developer-friendly API, transparent pricing, and comprehensive suite of payment solutions for businesses of all sizes.
VS
Overview
For a business registered in India the Razorpay-or-Stripe question is decided by two facts before any rate is compared. Stripe is invite-only in India: its support pages state that businesses from India cannot sign up through the website and must request an invite from its sales team, which it grants to a select number of businesses with a focus on international expansion. And an Indian Stripe account takes Visa, Mastercard and American Express only, with no UPI, netbanking, wallets, EMI, Google Pay or Apple Pay, in a market where UPI is the default way to pay. Razorpay, graded B- on Payment Review, is an RBI-authorised payment aggregator with open sign-up, a flat 2% platform fee plus 18% GST across cards, UPI, netbanking, wallets and Pay Later, a 0% platform-fee offer for a new merchant's first 90 days, and T+2 settlement. Stripe, graded A, charges the same 2% on Indian Visa and Mastercard cards, 3% plus a 2% conversion fee on international cards it can present in 135+ currencies, ₹1,000 per dispute, and pays out daily on a two-business-day lag for Indian cards and five for international ones. Razorpay is the practical choice for anyone selling to Indian customers or who needs an account this month; Stripe is worth the invite request for an exporter of software or services whose customers pay by card from abroad and who wants Stripe's Billing, Checkout and Connect tooling.
Key Takeaways
- ✓Razorpay wins on access: anyone can sign up and activate after KYC, while Stripe's Indian accounts are invite-only and reserved for a select number of businesses focused on international expansion.
- ✓Razorpay wins on payment methods: UPI, netbanking across 72+ banks, wallets, EMI and Pay Later at the same 2% platform fee, plus UPI AutoPay for subscriptions, where an Indian Stripe account accepts Visa, Mastercard and American Express and nothing else.
- ✓Level on the domestic card rate: both charge 2% on Indian Visa and Mastercard cards, and both add 18% GST to their fees.
- ✓Stripe wins for exporters: 3% on international Visa and Mastercard plus 2% for currency conversion, presented in 135+ currencies, against Razorpay's international cards at up to 3% plus GST with an optional 1% chargeback-protection add-on.
- ✓Stripe publishes its dispute fee, ₹1,000 per dispute received, and offers 24x7 phone, chat and email support; Razorpay does not publish a chargeback fee and offers ticket support with live chat from 10 AM to 10 PM on working days for selected accounts.
Razorpay
Razorpay is the pick for a business selling to customers in India, a business that needs to launch now, and a subscription business that wants UPI AutoPay and e-mandates. It costs 2% plus GST on almost everything domestic, settles in two working days, and its weakness is service: a 1.4 Trustpilot score, 73% of it one-star, and support that runs on tickets.
Stripe
Stripe is the pick for an Indian exporter of software or services that can get an invite: multi-currency presentment, Billing, Checkout, Payment Links and Connect, 24x7 support and a published ₹1,000 dispute fee. It cannot take UPI or netbanking from an Indian account, so it is a poor fit for domestic sales, and there is no guarantee of an account at all.
The Verdict
It Depends on Your Needs
Why?
It depends on who your customers are and whether Stripe will have you. For a business selling to people in India, Razorpay is the answer by default: it accepts UPI, netbanking, wallets, EMI and Pay Later alongside cards at a flat 2% plus GST, it settles in two working days, it offers UPI AutoPay for subscriptions, and you can open an account today. Stripe cannot take any of those payment methods from an Indian account and will only open one by invitation, with a stated preference for businesses expanding internationally. For an Indian exporter of software or services whose customers pay by card from abroad, Stripe is the stronger product if the invite comes: 3% plus 2% conversion presented in the customer's own currency, Billing, Checkout, Payment Links and Connect, 24x7 support and a published dispute fee, against Razorpay's international cards at up to 3% plus GST with weaker support. Payment Review grades Stripe A and Razorpay B-, and nothing here contradicts that: Stripe is the better payments company, and Razorpay is the one an Indian business can actually use for Indian sales.
Feature by feature
Detailed Comparison
Filter Options
Getting an account
| Feature | Razorpay | Stripe |
|---|---|---|
| Who can sign up | Open sign-up; account activated after KYC Winner | Invite-only; request an invite from Stripe's sales team; existing Indian accounts continue to be supported |
| Stripe's support page: 'Stripe services are invite-only in India. Businesses from India are not able to sign up for a new Stripe account through our website.' It says Stripe supports 'a select number of businesses, with a focus on international expansion'. Third-party coverage dates the change to May 2024; Stripe's page does not give a date. | ||
| Entity types | Individuals and freelancers, sole proprietors, partnership firms, LLPs, private and public limited companies, trusts and NGOs Winner | Individuals for domestic sales only; sole proprietors, LLPs and companies for domestic and export; no simple partnerships, non-profits or NGOs |
| RBI status | Razorpay Payments Private Limited, an RBI-authorised payment aggregator; final authorisation 19 December 2023 after a year-long onboarding pause | Stripe India Private Limited, final RBI payment-aggregator authorisation reported 15 January 2024 |
| Set-up and recurring fees | No setup fee, no annual maintenance charge; a one-time ₹199 KYC processing fee plus taxes is stated in Razorpay's new-merchant offer terms | No setup or monthly fees |
Who can sign up
Razorpay
Open sign-up; account activated after KYC
Winner
Stripe
Invite-only; request an invite from Stripe's sales team; existing Indian accounts continue to be supported
Stripe's support page: 'Stripe services are invite-only in India. Businesses from India are not able to sign up for a new Stripe account through our website.' It says Stripe supports 'a select number of businesses, with a focus on international expansion'. Third-party coverage dates the change to May 2024; Stripe's page does not give a date.
Entity types
Razorpay
Individuals and freelancers, sole proprietors, partnership firms, LLPs, private and public limited companies, trusts and NGOs
Winner
Stripe
Individuals for domestic sales only; sole proprietors, LLPs and companies for domestic and export; no simple partnerships, non-profits or NGOs
RBI status
Razorpay
Razorpay Payments Private Limited, an RBI-authorised payment aggregator; final authorisation 19 December 2023 after a year-long onboarding pause
Stripe
Stripe India Private Limited, final RBI payment-aggregator authorisation reported 15 January 2024
Set-up and recurring fees
Razorpay
No setup fee, no annual maintenance charge; a one-time ₹199 KYC processing fee plus taxes is stated in Razorpay's new-merchant offer terms
Stripe
No setup or monthly fees
Best For Your Business
Recommendations based on your business type
D2C brand or online store selling to Indian consumers
Recommended
Razorpay
UPI, netbanking and wallets are how Indian consumers pay, and Razorpay takes all of them at 2% plus GST with plugins for Shopify, WooCommerce and Magento. An Indian Stripe account is cards only.
Indian SaaS company or agency billing customers abroad by card
Recommended
Stripe
Stripe presents prices in 135+ currencies at 3% plus 2% conversion on Visa and Mastercard, runs recurring billing through Stripe Billing at 0.7%, and gives 24x7 support and a published ₹1,000 dispute fee. Request an invite; if it is refused, Razorpay's international cards at up to 3% plus GST and its 1% international bank transfers are the fallback.
Business that needs to start taking payments this month
Recommended
Razorpay
Razorpay's sign-up is open and activation follows KYC. Stripe's India accounts are invite-only with no published timeline, and its waitlist notifies you by email if and when an account can be activated.
Subscription business with Indian customers
Recommended
Razorpay
Razorpay Subscriptions charges 0.9% on top of the card fee and supports UPI AutoPay, NACH and e-mandates, which is how recurring payments get collected in India. Stripe Billing works in India on cards only.
Freelancer or sole proprietor exporting services
Both accept international cards at roughly 3% plus taxes and settle in INR, but Stripe requires a registered sole proprietorship for exports (an individual account is domestic-only) as well as an invite and a transaction purpose code; Razorpay is open to individuals and adds 1% international bank transfers with no FX mark-up. Pick Stripe if the invite arrives and your clients prefer paying in their own currency; otherwise Razorpay.
Marketplace or platform paying out to Indian sellers
Recommended
Razorpay
Razorpay Route splits and settles payments to sellers at 0.1% plus the platform fee. Stripe Connect exists for Indian platforms but every connected account also needs an invitation, which makes onboarding sellers at scale impractical today.
Razorpay: Best for 4 use cases
Stripe: Best for 1 use case
Frequently Asked Questions
Common questions about this comparison
Not through the website. Stripe's support pages state that its services are invite-only in India, that businesses must request an invite from the sales team, and that it currently supports only a select number of businesses with a focus on international expansion. Existing Indian Stripe accounts continue to be supported. Razorpay's sign-up is open, with activation after KYC.
Not for Indian businesses. Stripe's UPI payment method is available to Stripe accounts in the United States, United Kingdom, Singapore, Australia and most of Europe so that they can accept payments from customers in India. An Indian Stripe account accepts Visa, Mastercard and American Express only; Stripe's India support page says local payment methods, Google Pay and Apple Pay are not supported. Razorpay accepts UPI, netbanking, wallets, EMI and Pay Later at its standard 2% platform fee, and UPI QR at 0.99%.
On Indian Visa and Mastercard cards they are level at 2% plus 18% GST. Razorpay's advantage is that the same 2% covers UPI, netbanking, wallets and Pay Later, which Stripe cannot take at all, and that new merchants activated from 1 July 2026 pay 0% platform fee for 90 days or ₹5 lakh of volume. On international cards Razorpay charges up to 3% plus GST, with an optional 1% chargeback-protection add-on; Stripe charges 3% on Visa and Mastercard, 3.5% on American Express and a further 2% when currency conversion is needed.
Razorpay's standard cycle is T+2 working days, with an Instant Settlement product for faster access. Stripe pays out daily and each payout includes payments captured two business days earlier for Indian cards and five for international cards, with a seven-day wait before the first payout; weekly and monthly schedules are not available in India. Both settle in Indian rupees and skip weekends and bank holidays.
Stripe charges ₹1,000 for each dispute received and another ₹1,000 if you respond manually, which it returns if you win; its Smart Disputes service takes 30% of the disputed amount on disputes it wins for you. Razorpay does not publish a chargeback fee on its pricing page; on international cards it sells optional chargeback protection for an extra 1%.
Stripe, if you can get an account. It presents prices in 135+ currencies, adds 2% for conversion, supports American Express from abroad, and pays out in INR with a bank-issued payment advice for each export payout; you will need an Importer Exporter Code for physical goods and an RBI purpose code. Razorpay's international cards cost up to 3% plus GST and it adds international bank transfers at 1% with no FX mark-up into USD, GBP and EUR accounts, which Stripe's Indian pricing does not offer.
Neither scores well with the public. Razorpay holds 1.4 on Trustpilot from 451 reviews with 73% one-star; Stripe holds 1.6 from 17,498 with 52% one-star, though it replies to 99% of negative reviews. Payment Review grades Stripe A and Razorpay B-, with Razorpay's support and reputation scores pulling it down against strong marks for pricing and features.
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