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Paystack vs Razorpay
Of the 170 countries we track, Paystack onboards businesses in 4 (and 2 more with limits) and Razorpay in 4 (and 161 more with limits). Both serve businesses in 6.
Only Razorpay · 159
🇺🇸 United States🇨🇦 Canada🇲🇽 Mexico🇧🇷 Brazil🇦🇷 Argentina🇨🇴 Colombia🇨🇱 Chile🇵🇪 Peru🇬🇧 United Kingdom🇮🇪 Ireland🇩🇪 Germany🇫🇷 France🇳🇱 Netherlands🇧🇪 Belgium🇱🇺 Luxembourg🇦🇹 Austria🇪🇸 Spain🇵🇹 Portugal🇮🇹 Italy🇬🇷 Greece🇨🇾 Cyprus🇲🇹 Malta🇸🇪 Sweden🇩🇰 Denmark🇳🇴 Norway🇫🇮 Finland🇮🇸 Iceland🇵🇱 Poland🇨🇿 Czechia🇸🇰 Slovakiaand 129 more →
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Onboards businesses in United States
Paystack
Not availableRazorpay
AvailableAccept payments
Paystack
Online and in-person payment acceptance. Cards (Visa and Mastercard in all markets) plus local methods that vary by country: bank transfer, USSD, mobile money, M-PESA, EFT, QR, Apple Pay and Google Pay. Settlement is in local currency by default; Nigerian and Kenyan businesses can also accept and settle in USD.Not for businesses in United States.Razorpay
Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers.Pay people abroad
Paystack
Transfers from your Paystack balance to bank accounts in your own country, and to mobile money in Ghana and M-PESA in Kenya. Domestic only. Available to Registered businesses, not Starter businesses.Not for businesses in United States.Razorpay
RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States.Multi-currency account
Paystack
Dedicated Virtual Accounts: bank account numbers you create for your customers to pay into; payments are recorded against that customer and settle to your Paystack balance. Not a multi-currency holding account.Not for businesses in United States.Razorpay
RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States.Business cards
Paystack
Not offeredRazorpay
RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States.Stablecoins
Paystack
Not offeredRazorpay
Not offeredYield on idle cash
Paystack
Not offeredRazorpay
Not offeredYield on idle cash
A return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is.
Where the return comes from
Paystack
No yield offeredRazorpay
No yield offeredIs the money protected?
Paystack
–Razorpay
–Does the rate change?
Paystack
–Razorpay
–Platform & marketplace
Run payments for other businesses: sign them up, take a cut, pay them out.
Sub-accounts for your users
Paystack
PartlySubaccounts let you split a payment between your main account and another bank account. No Paystack page fetched says Paystack runs KYC on subaccount holders.Razorpay
YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform.Split payments and platform fees
Paystack
YesSplit a transaction with one or more subaccounts by percentage or a flat fee to the main account; choose who bears Paystack's fee.Razorpay
YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration.Embeddable UI
Paystack
PartlyPrebuilt Popup/Redirect checkout shows the payment methods enabled on your dashboard. No white-label onboarding or payout components were found.Razorpay
YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms.Pay out to your users
Paystack
YesTransfers to bank accounts in your own country (NG, GH, KE, ZA), mobile money in Ghana and M-PESA in Kenya. Domestic only; Registered businesses only.Razorpay
YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked.Embedded finance for your users
Give your users financial products under your brand.
Accounts that hold money
Paystack
PartlyDedicated Virtual Accounts (NG, GH) give each customer a bank account number to pay you; funds settle to your balance, not to an account the user owns.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users.Cards for your users
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending.Financing for your users
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API.Consumer apps
Build for individuals, not just businesses, the way Bridge allows.
End users can be individuals
Paystack
PartlyFor Nigerian businesses in Betting, Financial services and General services, Paystack validates the personal identity of customers before issuing them a Dedicated Virtual Account. This is the only consumer-KYC flow found.Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Consumer wallets or accounts
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users.Consumer cards
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Stablecoins
Dollar-backed tokens as a payment and treasury rail.
Accept stablecoins
Paystack
Not confirmedNot found in public materials (provider's own pages checked). Cryptocurrency operators are on Paystack's ineligible list.Razorpay
Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity.Hold stablecoin balances
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Pay out in stablecoins
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Issue your own stablecoin
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
Not confirmedNot found in public materials (provider's own pages checked).Regulatory risk in United States
Paystack
No stablecoin productsRazorpay
No stablecoin productsAI agents
Build with AI tools, and let AI agents shop and pay.
Official MCP server
Paystack
YesOfficial Paystack MCP Server (npm package @paystack/mcp-server), in beta/public preview. It exposes the Paystack API to AI assistants but accepts only test secret keys (live keys are rejected).Razorpay
YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts.Checkout for AI agents
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms.Cards for AI agents
Paystack
Not confirmedNot found in public materials (provider's own pages checked).Razorpay
PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card.Working with them
How easy it is to get started.
Self-serve signup
Paystack
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.Published pricing
Paystack
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.Public API and sandbox
Paystack
Not confirmedNot researched yet.Razorpay
Not confirmedNot researched yet.In short
Countries onboarded
Paystack
4 of 170Razorpay
4 of 170Designed for
Paystack
Businesses registered in Nigeria, Ghana, Kenya or South Africa collecting local payments, including bank transfers, mobile money and M-PESA.Razorpay
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity.Limitations
Paystack
Only businesses registered in four African countries can sign up generally (Côte d'Ivoire and Egypt are in private beta), and payouts are domestic only.Razorpay
Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.| Paystack Regional processor | Razorpay Regional processor | |
|---|---|---|
| Onboards businesses in United States | Not available | Available |
| Accept payments | Online and in-person payment acceptance. Cards (Visa and Mastercard in all markets) plus local methods that vary by country: bank transfer, USSD, mobile money, M-PESA, EFT, QR, Apple Pay and Google Pay. Settlement is in local currency by default; Nigerian and Kenyan businesses can also accept and settle in USD.Not for businesses in United States. | Payment gateway, payment links, payment pages, subscriptions, QR codes and POS. In India it supports cards, netbanking, UPI, wallets, EMI and Pay Later; Malaysia (Curlec) adds FPX, DuitNow and others; Singapore and US offer cards, wallets, PayNow (SG) and ACH (US). Non-Indian businesses can also collect from Indian customers. |
| Pay people abroad | Transfers from your Paystack balance to bank accounts in your own country, and to mobile money in Ghana and M-PESA in Kenya. Domestic only. Available to Registered businesses, not Starter businesses.Not for businesses in United States. | RazorpayX payouts to contacts in India via IMPS, RTGS, NEFT or UPI from a RazorpayX current account; also vendor and salary payouts. Razorpay Curlec in Malaysia also lists payouts. Cross-border payouts are not documented as a general product.Not for businesses in United States. |
| Multi-currency account | Dedicated Virtual Accounts: bank account numbers you create for your customers to pay into; payments are recorded against that customer and settle to your Paystack balance. Not a multi-currency holding account.Not for businesses in United States. | RazorpayX current accounts for Indian businesses, provided by partner banks (ICICI, RBL, Yes Bank); RazorpayX is not a bank.Not for businesses in United States. |
| Business cards | Not offered | RazorpayX Corporate Card (Visa corporate credit card issued by RBI-licensed partner banks) for Indian businesses.Not for businesses in United States. |
| Stablecoins | Not offered | Not offered |
| Yield on idle cash | Not offered | Not offered |
| Yield on idle cashA return on money you are not using. How safe it is depends on where the return comes from, not on how high the rate is. | ||
| Where the return comes from | No yield offered | No yield offered |
| Is the money protected? | – | – |
| Does the rate change? | – | – |
| Platform & marketplaceRun payments for other businesses: sign them up, take a cut, pay them out. | ||
| Sub-accounts for your users | PartlySubaccounts let you split a payment between your main account and another bank account. No Paystack page fetched says Paystack runs KYC on subaccount holders. | YesPartners can onboard sub-merchants through APIs, with sub-merchants completing KYC on the partner's platform. |
| Split payments and platform fees | YesSplit a transaction with one or more subaccounts by percentage or a flat fee to the main account; choose who bears Paystack's fee. | YesRoute splits incoming payments among linked accounts. Since RBI's September 2025 rules, Route requires minimum turnover (over INR 40 lakh domestic or INR 5 lakh export) and a payer-payee transparency declaration. |
| Embeddable UI | PartlyPrebuilt Popup/Redirect checkout shows the payment methods enabled on your dashboard. No white-label onboarding or payout components were found. | YesMerchant Onboarding UI: pre-built, brand-configurable components for onboarding sub-merchants (on request); Embedded Payments for platforms. |
| Pay out to your users | YesTransfers to bank accounts in your own country (NG, GH, KE, ZA), mobile money in Ghana and M-PESA in Kenya. Domestic only; Registered businesses only. | YesRazorpayX payouts to bank accounts and UPI IDs in India (IMPS/RTGS/NEFT/UPI). Domestic Indian payouts only in the docs checked. |
| Embedded finance for your usersGive your users financial products under your brand. | ||
| Accounts that hold money | PartlyDedicated Virtual Accounts (NG, GH) give each customer a bank account number to pay you; funds settle to your balance, not to an account the user owns. | Not confirmedNot found in public materials (provider's own pages checked). RazorpayX current accounts are for the merchant itself, not for its users. |
| Cards for your users | Not confirmedNot found in public materials (provider's own pages checked). | Not confirmedNot found in public materials (provider's own pages checked). The RazorpayX Corporate Card is for the merchant's own spending. |
| Financing for your users | Not confirmedNot found in public materials (provider's own pages checked). | PartlyRazorpay Capital runs an invite-only partner programme in which B2B businesses can refer their customers to Razorpay's Line of Credit. This is a referral, not an embedded lending API. |
| Consumer appsBuild for individuals, not just businesses, the way Bridge allows. | ||
| End users can be individuals | PartlyFor Nigerian businesses in Betting, Financial services and General services, Paystack validates the personal identity of customers before issuing them a Dedicated Virtual Account. This is the only consumer-KYC flow found. | Not confirmedNot found in public materials (provider's own pages checked). |
| Consumer wallets or accounts | Not confirmedNot found in public materials (provider's own pages checked). | NoRazorpay's White Label Wallet (closed wallets for your customers) was discontinued in April 2023 and takes no new users. |
| Consumer cards | Not confirmedNot found in public materials (provider's own pages checked). | Not confirmedNot found in public materials (provider's own pages checked). |
| StablecoinsDollar-backed tokens as a payment and treasury rail. | ||
| Accept stablecoins | Not confirmedNot found in public materials (provider's own pages checked). Cryptocurrency operators are on Paystack's ineligible list. | Not confirmedNot found in public materials (provider's own pages checked). Razorpay's India terms bar merchants from crypto activity. |
| Hold stablecoin balances | Not confirmedNot found in public materials (provider's own pages checked). | Not confirmedNot found in public materials (provider's own pages checked). |
| Pay out in stablecoins | Not confirmedNot found in public materials (provider's own pages checked). | Not confirmedNot found in public materials (provider's own pages checked). |
| Issue your own stablecoin | Not confirmedNot found in public materials (provider's own pages checked). | Not confirmedNot found in public materials (provider's own pages checked). |
| Regulatory risk in United States | No stablecoin products | No stablecoin products |
| AI agentsBuild with AI tools, and let AI agents shop and pay. | ||
| Official MCP server | YesOfficial Paystack MCP Server (npm package @paystack/mcp-server), in beta/public preview. It exposes the Paystack API to AI assistants but accepts only test secret keys (live keys are rejected). | YesOfficial Razorpay MCP Server, hosted (remote) or self-hosted via Docker, with 35+ tools covering payments, orders, links, refunds, settlements and payouts. |
| Checkout for AI agents | Not confirmedNot found in public materials (provider's own pages checked). | PartlyRazorpay Agentic Payments: in-app agentic checkout (live in beta), voice payments and in-chat purchases on LLM platforms. |
| Cards for AI agents | Not confirmedNot found in public materials (provider's own pages checked). | PartlyUPI Reserve Pay (live) lets AI agents pay within pre-approved spending limits. It is a UPI mandate, not a card. |
| Working with themHow easy it is to get started. | ||
| Self-serve signup | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| Published pricing | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| Public API and sandbox | Not confirmedNot researched yet. | Not confirmedNot researched yet. |
| In short | ||
| Countries onboarded | 4 of 170 | 4 of 170 |
| Designed for | Businesses registered in Nigeria, Ghana, Kenya or South Africa collecting local payments, including bank transfers, mobile money and M-PESA. | Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. |
| Limitations | Only businesses registered in four African countries can sign up generally (Côte d'Ivoire and Egypt are in private beta), and payouts are domestic only. | Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only. |
Common questions
Is Paystack or Razorpay available in more countries?
Razorpay. Of the 170 countries we track, Paystack onboards businesses in 4 (and 2 more with limits) and Razorpay in 4 (and 161 more with limits). Both serve businesses in 6. Only Razorpay: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, Peru, United Kingdom, Ireland, Germany, France and 147 more.
What do Paystack and Razorpay offer?
Accept payments: Paystack yes, Razorpay yes. Pay people abroad: Paystack yes, Razorpay yes. Multi-currency account: Paystack yes, Razorpay yes. Business cards: Paystack no, Razorpay yes. Stablecoins: Paystack no, Razorpay no. Yield on idle cash: Paystack no, Razorpay no.
How do Paystack and Razorpay differ for platforms and embedded finance?
Sub-accounts for your users: Paystack partly, Razorpay yes. Embeddable UI: Paystack partly, Razorpay yes. Accounts that hold money: Paystack partly, Razorpay not confirmed. Financing for your users: Paystack not confirmed, Razorpay partly. End users can be individuals: Paystack partly, Razorpay not confirmed. Consumer wallets or accounts: Paystack not confirmed, Razorpay no. Checkout for AI agents: Paystack not confirmed, Razorpay partly. Cards for AI agents: Paystack not confirmed, Razorpay partly.
Who is Paystack designed for?
Businesses registered in Nigeria, Ghana, Kenya or South Africa collecting local payments, including bank transfers, mobile money and M-PESA. Limitations: Only businesses registered in four African countries can sign up generally (Côte d'Ivoire and Egypt are in private beta), and payouts are domestic only.
Who is Razorpay designed for?
Businesses registered in India that need local methods such as UPI and netbanking, and foreign businesses that want to sell to Indian customers without an Indian entity. Limitations: Full service is limited to India, Malaysia, Singapore and the US, and products differ sharply by market; most platform and banking features are India-only.
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