Razorpay, IndusInd Bank Launch AI Account Manager RAY on WhatsApp for Businesses

Razorpay has launched RAY, an AI-powered account manager on WhatsApp that lets businesses check payments, track settlements, resolve support issues, and initiate actions through messages or voice notes.

The service has been launched in partnership with IndusInd Bank, with Bajaj Finance among the first businesses to go live. Razorpay said businesses have already had more than 20,000 conversations with RAY.

RAY allows businesses to make requests such as “Show me a summary of my payments from yesterday” or ask it to analyse payment data and project sales. The system can respond in natural language without requiring users to access Razorpay’s dashboard.

The platform also allows businesses to ask RAY to take actions. For instance, a business can request a refund or generate a payment link through WhatsApp rather than navigating multiple screens on a dashboard.

Razorpay said RAY can also proactively contact businesses based on signals from its payments systems. It can flag issues such as a decline in payment success rates or upcoming settlements and suggest actions.

“Millions of businesses across India are building and growing every day, and we wanted to make it easier for them to access the information, intelligent insights, and support they need along the way. With RAY, an AI Account Manager on WhatsApp, a business owner can simply ask for what they need in the most natural way possible and have it acted upon,” said Khilan Haria, Chief Product Officer, Razorpay.

The service is aimed at businesses of different sizes, including small and growing businesses that may not have dedicated account managers. Razorpay said RAY is designed to provide access to payment information and support through WhatsApp, a platform widely used by businesses in India.

The launch builds on Razorpay’s existing RAY technology, which was initially developed to provide businesses with information and support using AI. The company has now expanded it to trigger actions across its systems.

Razorpay said its AI Agent Platform uses a single agent rather than separate agents for payments, settlements, refunds and other functions. The agent can access different tools, knowledge and merchant information depending on the request.

The platform maintains a 360-degree context for each merchant and uses an evaluation system to validate responses in real time, according to Razorpay. The company said this is intended to reduce hallucinations while maintaining response speed.

“At IndusInd Bank, we are committed to making banking simpler, faster, and more accessible for businesses. Our partnership with Razorpay reflects this focus by bringing account management capabilities to a familiar platform like WhatsApp, helping make business support more immediate, intuitive, and convenient,” said Amitabh Saraff, Head – Institutional and Government Coverage, IndusInd Bank.

Razorpay recently also launched Vulcan, a transformer-based AI foundation model designed specifically for payments, trained on nearly 3 trillion data points spanning 4 billion payments on its network.