Traditional Banks vs RazorpayX

RazorpayX is a Business Banking Hub that saves the time and effort that goes
into managing excel sheets and multiple platforms for business owners.
 Payouts

Payout links - Helps you make payments by just sending out a payout link for the decided amount

over the phone or email and the customer fills out all the critical details

BANKS

Quick and simple (just

Tedious task (back and

Process refunds without customer’s send out a payout link

forth communication for

account details and the customer fills out

collecting the details)

his own details to receive

the refund)

Bulk payout links Send out upto 10000

payout links in one go

BANKS

Bulk payouts
Only in corporate banking Send upto 25000 payouts

in one go
 One stop solution for all your payments

Vendor Payments is a huge task in any business as you have to manually keep a track of your
invoices and their due dates.

BANKS

Add vendor invoice details like Automatically captures

vendor name, bill number, due date the invoice details. Just
and amount to be paid. Manual process on excel click and upload a picture
of it or send it to your
email

Reminders for unpaid invoices as

Manual tracking on excel Reminders on dashboard
due dates approach
and over email

Auto- capture TDS from the Just select the TDS

Verify and double check category for the vendor
invoices
everything every month and it’s recorded
automatically

Tax payments - Every business has to pay several types of taxes (direct and indirect ) to the
government every month. The most common tax payments are tax deducted at source (TDS) and
goods and service tax (GST).

BANKS

Supports TDS/ TCS payment from Auto / manual payment

Only few in corporate
the dashboard of the TDS/ TCS captured
banking
from the vendor invoices

Supports GST payment from the

Only few in corporate
dashboard Coming soon!
banking

Supports Advance Tax Payments

from the dashboard Only few in corporate
Coming soon!
banking

Payroll - Employee salary is a monthly affair and it is quite a complicated and tedious process. You
have to process the payroll and make payments at 5 different places - Employees, PT, PF, ESI & TDS

BANKS

employees + contractors,
with Form 16 access,

IT declaration verification,
HR + Leave Management Software
document management,
reimbursements,
contractor payments, etc.

Payroll Processing Only bulk salary payouts in Calculation and On time

Corporate Banking salary disbursals

Payments to PT, PF, ESI

Compliance payments + Filing Tax
and TDS, along with the
Returns
necessary annual/
quarterly tax returns filing

Group Health Insurance

Best in class insurance

Integration with Slack

Do payroll related tasks from slack

itself
 User-centric service

Integration with accounting softwares - Your finance team spends a lot of time and effort

manually entering the business transactions and reconciling the data.

BANKS

Quickbooks Integration

Entries need to be done first on QB,

Supports part payment

which sync up on RazorpayX and

as well
reconcile back when paid

ePayments are live,

Tally Prime Integration
deeper integration

coming soon!

Zoho books Integration

Entries and payment need to be done

Coming soon!
first on RazorpayX, automatically

reconciled with Zoho

CA Portal

CA or the owner can login and

download the -

bank statement,

vendor payments,

Coming soon!
invoices,

payouts details,

Tax challans

in a matter of minutes Streamlined

CA-Owner interaction

BANKS

R 24X7 s
Hh ig Success R ate

(f
eliable transfer

acilitates payments

b k
Transactions fail when bank servers

T f f using multiple an

hb k .
ransactions o ten ail

!
are down and it becomes difficult

servers in t e ac end

Wk b k
moving your own money

or s even on a an

h ) oliday

d fi
s

Search an lter Account

F
Statement

ilter by payment method, purpose,

plain vanilla
R eal time analytics &
intelligent reporting
contact, etc

R eal time working ca p v ital iew

Coming soon!
 Security Simplified

BANKS

Different access levels to the

current account for your employees

Sharing ID and password for the Access level as per the

account is a safety and security Everyone has the same role - like view only, add
concern but if not done hampers the access level and view funds, create payouts or
delegation of work pay vendors, etc

Advanced Maker-Checker model

Create an authorization matrix to delegate work without having safety and security concerns

BANKS

Requirement of Board resolution

for setting up or changing the
Time consuming process Quick, custom and easy
workflow
 Beneficiary management

B ANKS

Beneficiary addition time

20 minutes to 4 hours Instant

Cool Off period Transfer amount restrictions No restriction on the

for 24 to 48 hours transfer amount

Bulk beneficiary upload

Only in corporate banking Open to all

Multiple bank accounts under

same beneficiary

Add multiple accounts &

Easily trace payments made to a Only one account per
UPI IDs under the same
beneficiary who has multiple beneficiary
beneficiary
accounts

Auto IFSC code change

Never re-add beneficiaries on bank Manually update all the Auto-updates the

mergers
beneficiaries beneficiaries

Error-proofing (penny testing)

Cross-check beneficiary details to Only in corporate banking Open to all using APIs
improve customer experience
 Dashboard

BANKS

Explore the UI/UX of the dashboard Test account

No test account (Check out the UI/UX

using a test account
before opening the
Current Account)
 Corporate Credit Card & easy access to working
capital

Cash advance - In businesses, longer sales cycles lead to delayed revenue realization. This leads to
a lack of cash in the bank account for processing operational expenses resulting in stagnancy in
growth and expansion.

BANKS

Affordable OD/CC only to Provides without

Cash advance

larger businesses that collateral at affordable

Or line of credit
have established their rates compared to
credit worthiness informal lenders

Early Settlements - The longer settlement cycles result in issues with maintaining enough liquidity
to take care of expenses and credit payments. It also hampers your growth rate by not enabling you
to reinvest in your business operations faster.

BANKS

Settlement period of payment with

businesses

T+2 to T+10 days to On-demand or same-day

Avoid a cash crunch if you make
settle settlements
sales near a due date

Corporate Credit Card

BANKS

Providing a Credit Card

Not unless you have a Based on your payment

Not just on the basis of your credit
robust CIBIL score or high gateway, payouts, and
history but also your current
GMVs payroll data - in addition
transactions
to CIBIL score