RazorpayX - Get Started (2024)

Seamless Vendor Onboarding

• Onboard all your vendors by providing their emails and let RazorpayX do the KYC check. RazorpayX automates vendor verification and simplifies onboarding with
  Vendor Payments
  . This helps to ensure financial compliance and minimise fraud.
• RazorpayX's streamlined process accelerates onboarding, reducing manual effort for marketplaces. Vendors can use their
  portal
  for invoice uploads and easy reconciliation.
• Manage all your vendors, payouts, purchase orders, invoices and taxes in one dashboard.

Manage Payouts

• Employ the
  Approval Workflow
  to obtain consent from stakeholders for customer and vendor refunds or payments.
• Use RazorpayX's AI-powered
  multi-bank account routing
  system to ensure best payout success rates.
• Manage refunds better using custom refund feature.
• Do payouts in bulk using the
  Bulk Import
  feature.

Accounting Integrations and Tax Management

• Manage your branches and cost centres in one dashboard.
• Import documents, purchase orders and files from your external accouting software(s).
• Manage all your taxes and get GST reports.
• Share relevant data to your Chartered Accountant by creating
  CA Portal
  .

Detailed Transaction Reports

• Ensure marketplace transparency with RazorpayX's comprehensive
  Reports
  offering.
• Gain transaction insights like parties involved, payment methods, and timing.
• Simplify audits and grasp business performance through detailed reporting.

Scheduled Payouts

• Optimise freelancer payments with
  Scheduled Payouts
  , enhancing consistency and timeliness.
• Reduce delays and bolster trust through reliable automated payouts, improving freelancer satisfaction.
• Customise schedules to meet freelancers' preferences and client convenience.

Transparent Transactions and Reporting

• Foster trust and prevent payment disputes by upholding transparency among freelancers, clients and the platform with RazorpayX's comprehensive transaction recording.
• Access transactions in the Account Statement section and download and email
  Reports
  from the RazorpayX Dashboard, ensuring transparent and clear financial communication.

Invoice Portals

• Employ
  Vendor Portal
  for freelancer convenience, allowing them to upload invoices centrally.
• Streamline payment management, track dues, and deadlines through user-friendly portals.

Approvals on Invoices

• Initiate client approval before processing payouts for freelancers' dues.
• Enjoy automated and seamless
  Invoice Approval Workflow
  .

Payout Links for Guest Instructors

• Simplify payments using
  Payout Links
  , streamlining finance procedures.
• Avoid bank details for one-time resources while maintaining proper records.

Easy Accounting Integration

• Easy reconciliation of multiple payouts.
• Utilize
  Accounting Integration
  with
  Zoho Books
  and
  Tally
  , along with downloadable
  Account Statements
  .
• Enhance visibility, transparency, and team collaboration while ensuring consented access.

Manage Team and Custom User Roles

• Assign roles and permissions to both vendors and freelancers, enhancing security and control.
• Custom User Roles
  allow controlled access with or without
  2FA
  .

Bulk Payouts for Refunds and Scholarships

• Use
  RazorpayX Lite or Current Account
  and
  Bulk Payout Links
  for convenient student incentive payouts.
• Simplify rewards distribution using
  Payout Links
  without the need for individual account details, improving efficiency.

Tax Payments

• Embrace
  Automated Tax Payments
  for efficient compliance.
• Automatic calculation and deduction minimize errors and non-compliance risk.
• Save time, avoid penalties, and enhance business efficiency through streamlined tax processes.

Generate Invoices

• Generate
  invoices
  for transparent customer transactions.
• Invoices track services, costs and payments, building trust.
• Manage revenue, cash flow, and taxes with automated
  Vendor Payments
  , utilizing OCR for existing invoices.

Detailed Financial Reports

• Utilize
  Reports
  for in-depth financial insights.
• Guide strategic decisions with revenue sources, expenses, and profitability data.
• Enhance resource allocation, compliance, and investor confidence with detailed financial information.

Automated Vendor Payments

• Use
  Vendor Payments
  by RazorpayX for convenient and timely vendor payments, whether immediate or scheduled.
• Opt for
  Approvals on Invoices
  or direct payments, with the flexibility to streamline invoice handling through the
  Vendor Portal
  .
• Automate payments once set up, using funds from your chosen account type in RazorpayX for seamless vendor transactions.

Simplified Returns and Refund management

• Employ
  Payouts
  and
  Payout Links
  for cashbacks and refunds, either individually or in bulk, with instant or scheduled options.
• Establish an
  Approval Workflow
  on RazorpayX Dashboard for required permissions before making payouts.
• Simplify reconciliation with downloadable reports for all recorded payments, ensuring easy tracking and management across various scenarios.

Automated TDS Payments

• Enforce tax compliance using
  Tax Payments
  through RazorpayX, including
  Automatic TDS
  setup.
• Automate TDS calculations upon invoice upload and seamless integration with the Tax Payments Application.

Easy Accounting Integration and CA Portal

• Simplify Ecommerce reconciliation using
  Accounting Integration
  with Zoho or Tally, exporting transaction details seamlessly.
• Share relevant data by integrating with your preferred software and provide access to a
  CA Portal
  for your CA to review transactions on RazorpayX Dashboard.
• Streamline accounting processes, enhance collaboration, and offer transparency.

Payout from Multiple Accounts

• Choose between linking multiple
  Current Accounts
  or using funds in
  RazorpayX Lite
  for making payouts.
• Easily switch between the two options as needed, enabling diverse payment types without manual reconciliation.
• Seamlessly manage payments with automated recording and reconciliation offered by RazorpayX.

Payout Links for Guest Players

• Address discomfort around sharing banking details by leveraging
  Payout Links
  , enabling engagement from one-time players and retaining potential users.
• Utilize Payout Links for cashbacks, refunds, and flexible employee payouts, including short-term contracts.
• Maximize player participation, offer incentives, and streamline payments with the versatile capabilities of Payout Links.

Sub-Accounts for easier Financial Collaboration

• Larger gaming companies with multiple games can create distinct
  Sub Accounts
  for individual competitions.
• Streamline winner's payouts through a single Current Account, routed via the relevant sub-account.
• Enhance fund tracking, transparency, and clarity, avoiding confusion in payment management.

Bulk Payouts for Winners

• Utilize
  Bulk Payouts
  for efficient distribution of gaming prizes, earnings, and rewards to multiple players simultaneously.
• Simplify payments after tournaments or virtual goods acquisition, enhancing player satisfaction.
• Boost player motivation with timely and hassle-free bulk payouts, whether in virtual or real currency.

Payouts to Partners

• Utilise
  RazorpayX Payouts Link APIs
  to do instant payouts to service partners seamlessly.
• Make rewards distribution process simpler and more efficient using
  Payout Links
  without the need for individual account details.
• Reduce delays and boost trust through automated payouts, improving partner satisfaction.
• Optimise partner payments with
  Scheduled Payouts
  , enhancing consistency and timeliness.
• Ensure prompt cashbacks and refunds including short-term contracts using
  Payout Links
  .

Invoices and Taxes Automation

• Automate
  invoice
  generation for customers.
• Ensure tax compliance using
  Tax Payments
  through RazorpayX, including
  Automated TDS
  setup.

Partner Management

• Use

  Create User Roles
  to set roles and permissions for different categories of users.

Seamless Claim Settlements

• Settle claims instantly using
  RazorpayX Payout Links
  .
• Choose between multiple
  Current Accounts or RazorpayX Lite
  for claim settlements.
• Create
  Sub Accounts
  for better payment segregation.
• Overcome delays due bank downtimes and experience hassle free claim settlements using RazorpayX's
  Multi-bank Routing feature
  .
• Set up approval workflows on RazorpayX Dashboard for channeling payouts for different levels of approvals.

Bulk Payouts to Advisors

• Execute payouts in bulk to insurance agents/advisors using
  Bulk Payouts Links
  .

Employees and Vendor Portals

• Set roles and permissions for different categories of users using
  Create User Roles
  and enable controlled access.
• Use
  RazorpayX Payroll
  for managing employee onboarding, attendance, salaries, payment to contract employees, TDS and more.

Quick and Simple Loan Disbursals

• Offer instant loan credits by using
  RazorpayX Payout Links
  through multiple
  Current Accounts or RazorpayX Lite
  .
• Leverage RazorpayX's tech stack to ensure financial, regulatory and legal compliance in lending.
• Use
  Sub Accounts
  for better payment segregation.
• Utilize RazorpayX's
  Multi-bank Routing feature
  to overcome bank downtimes and experience hassle free loan payouts.
• Route payouts for different levels of approvals by setting up
  Approval Workflow
  on RazorpayX Dashboard.

Bulk Payments to Agents

• Enable bulk payouts to agents/advisors using
  Bulk Payouts Links
  .

Employees and Contractor Portal

• Set up user roles and permissions for different categories of users using
  Create User Roles
  and enable controlled access.
• Manage employee onboarding, attendance, salaries, payment to contract employees, TDS and more using
  RazorpayX Payroll
  .

Automate Customer Withdrawals

• Use
  Payout APIs
  to automate customer withdrawals.
• Approve or reject payouts using
  Payout Approval APIs
  .
• Enable fund tracking and ensure more clarity in payment management by using
  Sub Accounts
  .