Open vs RazorpayX
short answerBoth are traditional neobanks with similar positioning — the real differences are FX markup, fees, license and geography, compared field by field below.
Open: SME neobanking platform; 3M+ businesses.
RazorpayX: Business banking inside Razorpay.
Side by side
| Open | RazorpayX | |
|---|---|---|
| Category | traditional | traditional |
| Audience | SMB & startups | SMB & startups |
| HQ | Bengaluru, IN | Bengaluru, IN |
| Founded | 2017 | 2019 |
| Custody | Custodial | Custodial |
| Regulation | Partner-bank model | Partner-bank model |
| License detail | Partner banks (ICICI, Axis, Yes Bank +); RBI-licensed payment aggregator | Partner banks (RBL, ICICI, Yes, Axis, IDFC First); Razorpay holds RBI payment aggregator license |
| Card | Visa · Business | Visa · Business |
| Cashback | — | — |
| Yield | — | — |
| FX markup | — | — |
| Services | — | — |
| Stablecoins | No | No |
| KYC | Yes | Yes |
| Regions | Asia | Asia |
| Reported users | — | — |
go deeperFull profiles: Open · RazorpayX — or run your own comparison of up to four in the directory.
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.