Stripe vs Razorpay: Difference and Comparison

Stripe and Razorpay both provide online payment processing services. Online payment processing software companies are at the heart of every business, be it physical or online.

They ensure that payments are completed smoothly in order to increase client satisfaction and the company’s image. Online payment solutions include transactions, authorization, financing, and settlement.

Key Takeaways

  1. Stripe is a payment gateway that allows merchants to accept payments online, while Razorpay is a payment gateway that provides payment solutions for businesses in India.
  2. Stripe is available in various countries, including the US, UK, and Canada, while Razorpay primarily focuses on the Indian market.
  3. Stripe charges a percentage fee for each transaction, while Razorpay charges a flat fee plus a percentage fee.

Stripe vs Razorpay

The difference between Stripe and Razorpay is that Stripe is merely a payment service for companies all around the world. On the other hand, Razorpay is more than a payment gateway that combines numerous different elements that may be used by both individuals and businesses. It is presently only focusing on the Indian market.

Stripe vs Razorpay

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Stripe is a payment service or integrator that accepts payments from third parties. In other words, it manages several consumer profiles under a single profile and allows electronic payments for customers.

It’s well-known for its extremely configurable framework. Its interface is user-friendly and excellent for programmers. They offer paperwork that is really simple to grasp about everything they provide.

Razorpay, based in Bengaluru, India, was designed with the regional consumer in mind. Razorpay’s founders’ goal is to create a payment service that will make it convenient for retailers to accept electronic payments.

Razorpay is a newcomer to the industry and a developing firm that is garnering attention in India.

Comparison Table

Parameters of comparisonStripeRazorpay
ServicesStripe only offer online payments and cannot process credit or debit cards payments.Razorpay accepts offline payments as well. Credit and debit card transactions will be conducted electronically over the internet as well as offline at real retail shops.
Founded byPatrick and John CollisonShashank Kumar
Multicurrency SupportStripe accepts payments in several currencies.Razorpay does not offer this service.
Target CustomersCaters to businesses as well as freelancers.It provides facilities to only SMEs and small businesses.
Recurring PaymentsStripe customers may send and collect recurring transactions.No such feature is available.
APIStripe features an easy-to-use API that can be customised to meet the needs of the business.Razorpay’s API was developed by developers that work for the company. Although well-built needs more effort for integration.

What is Stripe?

Stripe is a U.S.-based e-commerce payment business that focuses on credit card transactions via the internet. This business does not have the ability to handle offline transactions.

They do, however, have some advantages over their competitors. Stripe users earn greatly from the API development process since it is less expensive than other online transaction solutions.

Furthermore, they result in fewer errors, such as multiple payments and so on.

Stripe provides its services digitally and is extremely handy for making online payments. Stripe, on the other hand, does not provide card payments at a physical business.

The reversal percentage, which is the amount that a corporation must pay to a consumer if payment is completed without the cardholder’s consent, is lower than that levied by its competitors.

Stripe features a straightforward API that may be customised to meet the demands of the enterprise. It is a more popular alternative among organisations that have programmers because of its simple API.

Stripe refers to the transfer of fresh money into one’s bank account within 2-4 days. Stripe’s customer support is claimed to be far superior to competitors in that it is available 24 hours a day, seven days a week.

What is Razorpay?

Razorpay, based in Bangalore, India, is also a payment interface service company. It is India’s one of the major electronic transaction systems.

Razorpay is immensely successful among small and medium-sized enterprises, although its facilities are not available to freelancers.

Users are not charged any registration or yearly upkeep costs by Razorpay because it is a free platform. Fees are only imposed on payments.

The startup, founded by a group of IIT Roorkee alumni, claims to make money management efficient and painless for Indian internet enterprises.

The firm provides a quick, safe, hassle-free, and cost-effective alternative for businesses, online shops, institutions, as well as other enterprises to receive and remit online payments.

Aside from the payment gateway, the firm also provides numerous additional products, such as RazorpayX, Razorpay Capital, and RazorpayX Payouts.

RazorpayX offers businesses a completely functional checking account. Businesses may use this account to automate payroll, bank transfers, invoice sharing, and other tasks.

Razorpay Capital provides businesses with fast loans to help them handle their cash flow challenges.

RazorpayX payouts provided with this tool, organisations may effortlessly and promptly distribute payments such as vendor payouts, customer payouts, and staff wages.

The most significant advantage of adopting Razorpay is that it provides a comprehensive product suite that allows companies to administer their market, manage all reimbursements, and get business loans all from a unified platform.


Main Differences Between Stripe and Razorpay

  • Stripe has more integration options than Razorpay. Customers find Razorpay to be a less appealing option due to fewer integrations.
  • Stripe may be used by both businesses and freelancers. However, freelancers and individuals are unable to use Razorpay. Enterprises of all sizes are eligible for Razorpay.
  • Stripe has a wider reach and is a more popular payment mechanism when compared to Razorpay.
  • Recurring payments are also possible with Stripe, but they are not possible with Razorpay.
  • Stripe is a more secure payment method than Razorpay. It provides SSL support, credit card vaults, and fraud prevention, while Razorpay does not.
  • Stripe charges a RADAR fee for microtransactions, whereas Razorpay does not charge any such fee for microtransactions.
  • Stripe is more consumer-friendly since it offers immediate reimbursements on denied transaction transactions and is accessible globally. Razorpay is not as customer-friendly as Stripe because it responds to such applications in days and exclusively focuses on the Indian market and consumers.

Last Updated : 13 July, 2023

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