Everything You Need to Know About RazorpayX Payroll, Banking, and App Performance

Razorpay has steadily expanded from being a payment gateway into a multifunctional fintech platform that now includes tools for business banking and automated payroll. Its offering, RazorpayX, targets founders and finance teams with the promise of consolidating everything from payouts and vendor payments to taxes and employee salaries.

But how well do these solutions perform in real-world conditions? This article looks at Razorpay’s broader ecosystem, RazorpayX Business Banking, and RazorpayX Payroll. It’s built entirely on factual insights derived from product screenshots, pricing pages, user feedback, and app store reviews. The goal is simple: help you understand what works, what doesn’t, and whether it fits your business needs.

Razorpay’s Digital Payment Ecosystem at a Glance

Razorpay supports a range of online and offline payment solutions:

• Online: Payment gateway integration, payment links, Magic Checkout, subscription billing, Smart Collect 2.0 for NEFT/RTGS/IMPS automation, and international payments.
• Offline: Razorpay POS for in-store payments and WhatsApp-based payment requests.
• New Additions: Embedded payments for platforms, Optimizer for managing multiple payment gateways, and an app store for integrations.

These tools are aimed at making customer payments smoother across platforms and channels.

RazorpayX: Banking Without a License

RazorpayX functions like a digital current account, although the underlying banking services are provided by scheduled banks like ICICI, RBL, and YES Bank.

Key Offerings:

• RazorpayX Current Account (with instant beneficiary addition)
• Payouts and Payout Links for vendors and employees
• Escrow+ Account for platform-based businesses
• Corporate Credit Cards
• Tax Tools: GST, TDS, and Advance Tax payments
• Bank Account Verification and compliance integrations

New Additions:

• Source-to-Pay: Manages procurement and vendor payments
• Forex/FDI Transfers and lending stack integrations

The banking UI is designed for startup agility, but the services themselves depend on traditional banks in the background.

What RazorpayX Payroll Offers

RazorpayX Payroll offers automation for salaries, tax filings, attendance tracking, and employee benefits—all within a single dashboard.

Core Features:

• Salary processing and bank transfers
• Auto-payment and filings for PF, ESIC, PT, and TDS
• Employee attendance and leave management
• Automated generation of offer letters, experience letters, and payslips
• Health insurance options for teams

It caters to both startups and larger enterprises, with separate workflows for each.

Attendance, Logins, and Access Control

The payroll system provides:

• Web-based dashboard login for admins and employees
• Built-in attendance tracking linked to payroll calculations
• Reimbursement management with approval layers
• Role-based access to restrict who can initiate, approve, or view financial data

Access control is integrated with team-based permissions, and actions like payment approvals can be done directly from the RazorpayX mobile app.

Payroll Pricing Model

RazorpayX Payroll follows a flat, per-user pricing structure:

• Pro Plan: ₹100/month per employee – covers salaries, compliance, reimbursements, and documentation.
• Free Plan: Includes a 1-month Pro trial and no limitations on usage count or feature access.

There are no hidden costs or commission-based pricing layers listed on the official site.

RazorpayX Mobile App Review

According to the Play Store listing and user reviews, the RazorpayX mobile app offers:

Notable Features:

• Centralized dashboard for banking and payroll
• Vendor invoice uploads and bulk payments
• Tax and compliance payments in under 30 seconds
• Accounting integrations with QuickBooks, Zoho, and Tally
• Dedicated CA portal

Reported Issues:

• Delayed onboarding: Users report account activation delays ranging from 3 to 4 months.
• OTP issues: App doesn't auto-detect OTPs for approvals.
• Customer support gaps: Long wait times, unresolved tickets, and no phone support.
• Login and stability bugs: Frequent “Something went wrong” errors, especially during peak hours.

App rating: 3.6 stars (based on ~500 reviews), indicating room for serious improvement.

Global Availability

Razorpay’s services currently cater to:

• India
• Malaysia
• Singapore

The compliance features and banking integrations are tailored primarily for Indian regulations.

Conclusion

Razorpay presents a broad suite of tools that simplify complex financial processes across business verticals. The ecosystem appears well-structured and aligned with current startup needs, with everything from payment links and Magic Checkout to payroll compliance and banking APIs.

However, the platform’s operational reality doesn't always match the promise. RazorpayX users report significant delays, platform glitches, and a lack of responsive customer support. While the product features are extensive, execution and user experience can vary dramatically, especially for time-sensitive functions like payroll or tax filing.

Businesses considering RazorpayX should conduct a phased rollout. Testing with the free plan, exploring integrations, and having backup banking channels may help mitigate operational risk while assessing its full suitability.