Accept International Payments From Indian Customers

Your Indian customers can make payments via local payment methods such as credit cards, debit cards, UPI and netbanking. The funds are settled in your overseas bank account.

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Current Challenges

• Limited payment methods are available to end customers. For example, UPI and recurring payments are not supported by most payment providers.
• Registration in India is a tedious and long process and is often subjected to regulations and reporting requirements.
• International card payments are convenient ways of remitting funds to India from abroad. However, it incurs huge costs, making them a less preferred method for accepting payments.

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Advantages

• No Card? No Problem! Customers who do not have access to cards can use our Import Flow solution to pay through their bank account: through UPI or Netbanking, making it easy for them to buy products in foreign countries with lower card coverage.
• No Visit to Bank Branch Currently, customers have to visit their bank branch to make an international bank transfer to the seller’s account. This process heavily impacts the customer experience as it is time-consuming. Using the Import Flow method, you can make bank transfers in your local currency.
• The Most Affordable Solution to Transfer Funds Internationally The customer can transfer funds to the seller’s bank account. This incurs less cost than international card payments or SWIFT transfers.
• Faster Payments Experience Accept payments without a website or app using other Razorpay products, such as Payment Links and Payment Pages.
• Wide Range of Domestic Payment Methods
  • UPI
  • Netbanking (All Banks)
  • Card (Mastercard, Visa, Rupay, Diners)
  • UPI Autopay
  • Card Recurring
  • Emandate
• Better Success Rates Card Payments are an expensive mode of payment. Also, international card payments have a lower success rate due to ever-increasing fraudulent attempts and extensive risk checks done by banks.
• No Indian Entity Required International Businesses do not need to spend significant time and resources in setting up an Indian entity or opening a local bank account in India. Razorpay’s hassle-free onboarding helps you to collect payments as soon as the KYC process is completed.
• Multi-currency Settlement Support Razorpay supports a range of foreign currencies, including USD, SGD, AUD, CAD, EUR, GBP, HKD, INR and MYR, for transactions originating from India.
• Powerful Dashboard Analyse detailed reports about payments, settlements, and refunds to make better business decisions.
• Maximum Compliance Razorpay complies with the latest standards of compliance like Tokenisation and Mandate management and holds the Reserve Bank of India’s PA/PG license. Businesses can thus stay on top of regulatory and compliance requirements seamlessly with Razorpay.

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Supported Merchant Categories

Razorpay supports these merchant categories:

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Import (Goods)

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Category | Description

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S0101 | Advance payment against imports made to countries other than Nepal and Bhutan.

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S0102 | Payment towards imports - settlement of invoice other than Nepal and Bhutan.

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S0103 | Imports by diplomatic missions other than Nepal and Bhutan.

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S0104 | Intermediary trade/transit trade, that is third country export passing through India.

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S0108 | Goods acquired under merchanting/payment against import leg of merchanting trade.

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Transport Services

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Category | Description

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S0201 | Payments for surplus freight/passenger fare by foreign shipping companies operating in India.

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S0202 | Payment for operating expenses of Indian shipping companies operating abroad.

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S0203 | Freight on imports - Shipping companies.

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S0204 | Freight on exports - Shipping companies.

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S0205 | Operational leasing/rental of vessels (with crew) - Shipping companies.

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S0206 | Booking of passages abroad - Shipping companies.

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S0207 | Payments for surplus freight/passenger fare by foreign airlines companies operating in India.

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S0208 | Operating expenses of Indian airlines companies operating abroad.

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S0209 | Freight on imports - Airlines companies.

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S0210 | Freight on exports - Airlines companies.

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S0211 | Operational leasing/rental of vessels (with crew) - Airline companies.

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S0212 | Booking of passages abroad - Airlines companies.

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S0214 | Payments on account of stevedoring, demurrage and port handling charges (Shipping companies).

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S0215 | Payments on account of stevedoring, demurrage and port handling charges (Airlines companies).

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S0216 | Payments for passenger - Shipping companies.

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S0217 | Other payments by shipping companies.

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S0218 | Payments for passenger - Airlines companies.

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S0219 | Other payments by airlines companies.

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S0220 | Payments on account of freight under other modes of transport (Internal waterways, roadways, railways, pipeline transports and others).

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S0221 | Payments on account of passenger fare under other modes of transport (Internal waterways, roadways, railways, pipeline transports and others).

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S0222 | Postal and courier services by air.

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S0223 | Postal and courier services by sea.

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S0224 | Postal and courier services by others.

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Travel Services

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Category | Description

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S0301 | Business travel.

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S0303 | Travel for pilgrimage.

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S0304 | Travel for medical treatment.

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S0305 | Travel for education (including fees and hostel expenses).

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S0306 | Other travel (including holiday trips and payments for settling international credit cards transactions).

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Insurance and Pension Services

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Category | Description

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S0601 | Life insurance premium except term insurance.

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S0602 | Freight insurance - relating to import and export of goods.

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S0603 | Other general insurance premium including reinsurance premium and term life insurance premium.

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S0605 | Auxiliary services including commission on insurance.

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S0607 | Insurance claim settlement of non-life insurance and life insurance (only term insurance).

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S0608 | Life insurance claim settlements.

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S0610 | Premium for pension funds.

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S0611 | Periodic pension entitlements for example monthly, quarterly or yearly payments of pension amounts by Indian pension fund companies.

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Telecommunication, Computer and Information Services

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Category | Description

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S0801 | Hardware consultancy/implementation.

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S0802 | Software consultancy/implementation.

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S0803 | Database, data processing charges.

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S0804 | Repair and maintenance of computer and software.

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S0805 | News agency services.

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S0806 | Other information services - Subscription to newspapers and periodicals.

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S0807 | Off-site software imports.

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S0808 | Telecommunication services including electronic mail services and voice mail services.

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Other Business Services

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Category | Description

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S1003 | Operational leasing services (other than financial leasing) without operating crew, including charter hire - Airlines companies.

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S1004 | Legal services.

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S1005 | Accounting, auditing, book-keeping services.

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S1006 | Business and management consultancy and public relations services.

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S1007 | Advertising, trade fair service.

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S1008 | Research and development services.

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S1009 | Architectural services.

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S1013 | Environmental services.

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S1014 | Engineering services.

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S1015 | Tax consulting services.

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S1016 | Market research and public opinion polling service.

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S1017 | Publishing and printing services.

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S1020 | Commission agent services.

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S1021 | Wholesale and retailing trade services.

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S1022 | Operational leasing services (other than financial leasing) without operating crew, including charter hire - Shipping companies.

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S1023 | Other technical services including scientific/space services.

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Personal, Cultural and Recreational Services

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Category | Description

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S1101 | Audio-visual and related services like motion picture and video tape production, distribution and projection services.

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S1103 | Radio and television production, distribution and transmission services.

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S1104 | Entertainment services.

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S1105 | Museums, library and archival services.

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S1106 | Recreation and sporting activities services.

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S1107 | Education (for example fees for correspondence courses abroad).

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S1108 | Health service (payment towards services received from hospitals, doctors, nurses, paramedical and similar services rendered remotely or on-site).

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S1109 | Other personal, cultural and recreational services.

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Manufacturing Services

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Category | Description

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S1701 | Payments for processing of goods.

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Prerequisites

You must meet the following prerequisites to accept payments from your Indian customers:

• Ensure you have an active Razorpay account with KYC verification completed.
• Foreign businesses with goods and services that can accept payments using this solution are:
  1. Digital Goods
  2. Digital Services
  3. Online Travel Agencies (OTA)
  4. Physical Goods
  5. Travel
  6. Education

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How it Works

Follow the steps given below to onboard and accept payments from Indian customers: Based on your business requirements, you also need to provide your HS Code or IEC Code.

1. Click International Payment Codes under International payment settings.
2. Update your HS Code under the International Payment Codes section.
3. Select the appropriate Harmonised System Code, also known as HS Code.

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List of Purpose Codes

Download the complete list of transaction purpose codes you can select during the onboarding process.

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Documents and Details Required

Given below is a list of documents required:

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Frequently Asked Questions (FAQs)

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1. What is the pricing for using this solution?

Please connect with your sales/business team on a case-to-case basis.

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2. What is the settlement TAT for international payments?

The default settlement cycle is as per applicable law(s). You can view your settlement cycle on the Razorpay Dashboard.

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3. Do you support multiple settlement currencies?

The funds will be settled in your local currency. The list of currencies currently supported are: USD, SGD, AUD, CAD, EUR, GBP, HKD, INR and MYR for transactions originating from India.

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4. Do you need any bills/invoices from me?

You should provide invoices for all your import transactions if and when asked. In the case of physical goods, you should also share the airway bill, along with the invoices.

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5. Which card networks do you support? Is support for certain networks limited by geographical region?

For Indian customers, following card networks are supported:

• Visa
• Mastercard
• Diners
• Rupay
• Amex
• Discover

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6. What if my end customer raises a dispute with Razorpay?

The chargeback will be handled as-is, which means that a dispute is raised between networks/issuing banks and the business, and the chargeback is processed based on the final decision taken by the networks/banks involved.

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7. Are refunds supported on these transactions?

Yes, Razorpay supports refunds. You can enable it via your existing refund integration with Razorpay or via the Dashboard.

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8. Is this feature available on all Razorpay integrations?

Yes, this feature is available on all Razorpay integrations.

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9. Do we need to collect the PAN details from customers?

Yes, PAN details from the customers are necessary for security approval.

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10. Is there any restriction on maximum transaction value?

Yes, the maximum transaction value is restricted to USD 30k across all the supported payment methods.