RazorpayX
Business banking inside Razorpay.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner banks (RBL, ICICI, Yes, Axis, IDFC First); Razorpay holds RBI payment aggregator license.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from RazorpayX’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · SMB & startups |
| HQ | Bengaluru, IN |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner banks (RBL, ICICI, Yes, Axis, IDFC First); Razorpay holds RBI payment aggregator license |
| Card | Visa · Business |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Asia |
Verified links: official site ↗
Common questions about RazorpayX
What is RazorpayX?
RazorpayX is a fiat neobank built for SMB & startups, headquartered in Bengaluru, IN and founded in 2019. Your money is held custodially, so RazorpayX or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner banks (RBL, ICICI, Yes, Axis, IDFC First); Razorpay holds RBI payment aggregator license).
Does RazorpayX have a card, and where can you use it?
It issues a Visa business card. It is available in Asia.
Does RazorpayX require KYC?
Yes. RazorpayX requires identity verification (KYC) to open an account, as a partner-bank model.
Early investors
Head-to-head
RazorpayX vs Open · RazorpayX vs Aspire
Peers
Wise · KakaoBank · WeBank · bKash · Maya · GCash
RazorpayX appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in Asia (132) · Neobanks for small businesses and startups (33) · Neobanks that issue a Visa card (182) · Neobanks in India (12)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.