Razorpay’s Biggest Bet: From Payments To Becoming The AI Brain For India’s Small Businesses

IPO-bound Razorpay is repositioning itself from a payments provider to an AI-powered business operating system through its Agent Studio and agentic commerce push.

By deploying task-specific AI agents, Razorpay aims to solve operational challenges for millions of small businesses beyond payments, unlocking new revenue streams.

This AI pivot could strengthen Razorpay’s public market narrative by expanding its addressable market and improving revenue quality ahead of its IPO

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Razorpay’s CEO Harshil Mathur has AI agents walking him through his day’s calendar, reading out the most important stories of the day to him and planning his travel itinerary. 

As the chief of one of India’s largest fintech companies, Mathur is one of the key figures who has advocated for the wide adoption of AI agents for simplifying daily tasks of the white-collar workforce. 

“I am a techie at heart. I couldn’t resist using this wonderful technology and I am obsessed with what agents can do for you,” Razorpay CEO told Inc42 on the sidelines of the company’s annual flagship event FTX, which concluded last week. 

“I am a techie at heart. I couldn’t resist using this wonderful technology and I am obsessed with what agents can do for you,” Razorpay CEO told Inc42 on the sidelines of the company’s annual flagship event FTX, which concluded last week. 

Mathur and his team brought the biggest global leaders of the AI world, like OpenAI, Anthropic, Nvidia, Emergent, and ElevenLabs, under one roof at FTX. Razorpay announced multiple partnerships at the event, with “AI” at the centre of it all. 

This included unveiling its Agentic AI studio in partnership with Anthropic’s Claude, working with ecommerce partners like Swiggy, Zomato to let agents orders and complete payments for your food in addition to tie-ups with PVR Inox, Dermacore, BigBasket, and LinkedIn, among others.

Mathur told us that the way agentic AI has evolved in the past couple of years, Razorpay had to think of this direction sooner or later. The company, he said, had a huge advantage in this regard as millions of small merchants are already using Razorpay for more than just payments.

Mathur told us that the way agentic AI has evolved in the past couple........

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