Key takeaways
- Razorpay expands operations to Singapore, marking its second location in Southeast Asia.
- Launches AI-driven payment solutions aimed at reducing cross-border transaction fees by 30-40%.
- Supports Singapore's digital economy with seamless, secure, and scalable payment solutions.
- Builds on success in Malaysia, enhancing local business payment experiences.
- Aligns with Singapore's vision for a cashless and innovation-driven economy.
Bengaluru-based fintech company Razorpay announced on Friday that it is expanding to Singapore, its second destination in Southeast Asia.
This comes after Razorpay announced various AI-driven solutions to power up business payments and solve the ‘Paisa nahi aya’ problem.
The move to enter Singapore follows the company’s successful operations in Malaysia, where local businesses have experienced faster settlements and reduced transaction costs.
Razorpay aims to support and scale Singapore’s digital economy by offering seamless, secure, and scalable payment solutions, powered by AI.
As per the data provided by Razorpay, Southeast Asia (SEA) is witnessing an unprecedented digital payments boom and Singapore is at the heart of this.
To kickstart the operations, Razorpay has launched a suite of payment solutions for Singaporean businesses. The company claims it will help firms reduce 30-40% of the cross-border transaction fees.
Shashank Kumar, MD & co-founder, Razorpay said, “As one of the most advanced digital economies, Singapore is the ideal market for our next phase of growth in Southeast Asia. Our expansion aligns with Singapore’s bold vision for a cashless, innovation-driven economy, and we look forward to empowering local businesses with cutting-edge AI-powered solutions to drive digital transformation at scale.”
He added, “Our AI-drive payments suite, including Agentic-AI and RAY, will redefine how businesses operate, offering not just seamless transactions but also intelligent automation that enhances operational efficiency.”
“Our expansion into Singapore comes at a pivotal moment as the local market embraces innovation and digital transformation,” said Angad Dhindsa, South East Asia head, Razorpay Singapore. “We understand the unique challenges that small and medium businesses here face, from navigating cross-border transaction costs to struggling with operational inefficiencies that limit their scalability.”
Razorpay will work closely with banks, financial institutions, and regulatory bodies to ensure seamless integration and compliance with Singapore’s financial landscape.
Businesses in Singapore can now access Razorpay Singapore’s suite of services, including a payment gateway, cross-border transaction solutions, and real-time financial analytics.
