AI revolutionizing small businesses in India.
Razorpay is betting big on artificial intelligence to revolutionize how India’s small businesses operate. The fintech giant is rolling out AI-powered agents designed to handle tasks ranging from customer engagement to financial forecasting. This move aims to transform Razorpay from a payments platform into a comprehensive operating system for businesses.
CEO Harshil Mathur envisions AI agents simplifying daily tasks for the white-collar workforce. At Razorpay’s annual FTX event, the company unveiled its Agentic AI studio in partnership with Anthropic’s Claude, alongside partnerships with e-commerce platforms like Swiggy and Zomato. These collaborations allow AI agents to manage orders and payments, extending to tie-ups with PVR Inox, Dermacore, BigBasket, and LinkedIn.
The Agent Studio launches with four production-ready agents:
- Abandoned Cart Conversion Agent: Re-engages customers who drop off during checkout.
- Dispute Responder Agent: Manages chargeback investigations.
- Subscription Recovery Agent: Works to re-engage lapsed subscribers.
- Cashflow Forecaster Agent: Analyzes payment patterns to anticipate liquidity gaps.
Mathur emphasizes the ease of use, stating that no technical skill is required. The cost structure is designed to match small business economics, activating agents only when triggered by a transaction or event.
Looking ahead, Razorpay plans to give merchants direct control over which AI model powers their agents, offering cost control and customization. Businesses can also create custom agents by describing their needs in plain English and connecting them to relevant systems like Shopify, WhatsApp, Tally, Quickbooks, or Slack.
In addition to B2B applications, Razorpay is introducing consumer-facing agentic commerce capabilities. AI agents can recommend products and complete transactions on behalf of users. Razorpay is piloting this with food delivery and entertainment apps, integrating these experiences into their platforms.
Razorpay completed its reverse flip, redomiciling back to India, and aims to return to profitability in FY26. The AI pivot could be a key factor in its valuation story as it eyes a potential IPO in the coming years.
According to Mathur, India is the largest market for AI companies after the US. Razorpay aims to apply AI models to solve India-specific commerce problems at scale, positioning itself as the infrastructure layer for AI in Indian commerce.
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