Fintech

Why Razorpay must show there’s life beyond payments

Nikhil Patwardhan

July 21, 2025 | 13 Min Read

Fintech giant Razorpay built an empire processing online transactions, but with margins reportedly shrinking and an IPO looming, it must soon prove that its other ventures are more than just interesting features.

The senior executive found Razorpay’s job offer tempting. Though a mid-level role, the fintech startup ticked all the right boxes, at least at first glance: a scorching growth pace, healthy profits, and IPO-bound.

But a nagging unease made him take a closer look.

Razorpay, which was then close to its reverse flip to India, had been all over the news—launching credit cards, payroll, lending products, and even a consumer Unified Payments Interface (UPI) app.

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