Glossary - Razorpay

Terms | Description

International Payments | International payments are transactions where the payer and the payee are in different countries, involving cross-border funds transfer and currency conversion processes.

Currency Conversion | The process of converting one currency into another during an international transaction. Razorpay Settlements occur in INR based on the conversion rate at the time of payment.

Purpose Codes | Specific codes issued by the Reserve Bank of India (RBI) to denote the nature of foreign currency transactions. Each payment must be tagged with a purpose code to ensure compliance with regulations.

SWIFT Transfer | An international payment method that uses the SWIFT network to transfer funds between banks globally.

FIRS (Foreign Inward Remittance Statement) | A document that provides proof of funds received from a foreign country, essential for compliance, claiming GST refunds, and other regulatory purposes.

Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.

Address Verification System (AVS) | A security feature that verifies the customer’s billing address against the address on file with the card issuer to prevent fraud.

3D Secure (3DS) | An additional layer of security for online card transactions where the cardholder must authenticate the transaction using a password or a one-time code.

based on the conversion rate at the time of payment.

Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.

​Terms | Description

​International Payments | International payments are transactions where the payer and the payee are in different countries, involving cross-border funds transfer and currency conversion processes.

​Currency Conversion​ | The process of converting one currency into another during an international transaction. Razorpay Settlements occur in INR based on the conversion rate at the time of payment.

​Purpose Codes | Specific codes issued by the Reserve Bank of India (RBI) to denote the nature of foreign currency transactions. Each payment must be tagged with a purpose code to ensure compliance with regulations.

​SWIFT Transfer | An international payment method that uses the SWIFT network to transfer funds between banks globally.

​FIRS (Foreign Inward Remittance Statement) | A document that provides proof of funds received from a foreign country, essential for compliance, claiming GST refunds, and other regulatory purposes.

​Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.

​Address Verification System (AVS) | A security feature that verifies the customer’s billing address against the address on file with the card issuer to prevent fraud.

​based on the conversion rate at the time of payment.

​Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.

Terms | Description

International Payments | International payments are transactions where the payer and the payee are in different countries, involving cross-border funds transfer and currency conversion processes.

Currency Conversion | The process of converting one currency into another during an international transaction. Razorpay Settlements occur in INR based on the conversion rate at the time of payment.

Purpose Codes | Specific codes issued by the Reserve Bank of India (RBI) to denote the nature of foreign currency transactions. Each payment must be tagged with a purpose code to ensure compliance with regulations.

SWIFT Transfer | An international payment method that uses the SWIFT network to transfer funds between banks globally.

FIRS (Foreign Inward Remittance Statement) | A document that provides proof of funds received from a foreign country, essential for compliance, claiming GST refunds, and other regulatory purposes.

Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.

Address Verification System (AVS) | A security feature that verifies the customer’s billing address against the address on file with the card issuer to prevent fraud.

based on the conversion rate at the time of payment.

Non-3DS Transactions | Payments processed without the 3D Secure protocol, often used for international card transactions. These transactions carry higher risk due to the lack of an additional authentication step.