If you’re running an online business in India, you’ve likely come across the names GoKwik and Razorpay. Both are powerful platforms, but they cater to different business needs.
In this detailed comparison of GoKwik vs Razorpay, we’ll explore their profiles, features, business performance, and recent updates to help you figure out which one is the better fit for your growth.
Here we go!
Profile Comparison
In the GoKwik vs Razorpay match-up, the companies come from different backgrounds but share a common goal—empowering digital businesses. Let’s briefly go through their profiles to understand them better-
| Aspect | GoKwik | Razorpay |
| Founded | 2020 | 2014 |
| Headquarters | New Delhi, India | Bangalore (Karnataka, India) |
| Founders | Chirag Taneja (CEO), Vivek Bajpai (CTO), and Ankur Talwar | Harshil Mathur (CEO), Shashank Kumar (Managing Director) |
| Core Products | AI-driven checkout optimization, fraud prevention, and RTO reduction tools | Payment gateway, business banking (RazorpayX), lending (Razorpay Capital) |
| Market Presence | Primarily serves Indian e-commerce businesses. | Broad presence across various industries in India and globally. |
| Brand Reputation | Known for innovative e-commerce solutions, featured in Forbes Asia | Recognized as a leader in Indian fintech, known for comprehensive financial solutions |
| Employee Satisfaction | Focuses on a diverse and problem-solving culture. | Offers a dynamic work environment with growth opportunities. |
| Recent Innovations | Continues to innovate in AI-driven e-commerce optimization. | Expanded services with RazorpayX and Razorpay Capital. |
| Competitors | Razorpay, Shopflo, Breeze, Pine Labs, xPay. | GoKwik, PayU, CCAvenue, MobiKwik, Pine Labs. |
When you look at GoKwik vs Razorpay, it’s almost like comparing a bold new challenger to an established champion. GoKwik was born in 2020, right in the heart of New Delhi, with a sharp focus on solving real problems faced by e-commerce businesses—things like abandoned carts, failed deliveries, and low conversions. It’s built by a team that truly understands the pain points of online selling.
On the other hand, Razorpay started its journey back in 2014 in Bangalore and has grown into one of India’s fintech giants. With millions of users and a broad portfolio that spans payments, business banking, and even lending, Razorpay has become a household name for startups and enterprises alike.
One is niche and razor-focused, the other is vast and all-encompassing—so the real question is, what kind of partner do you need for your business journey?
Features Comparison of GoKwik vs Razorpay
Let’s talk features, because this is where the GoKwik vs Razorpay comparison gets really interesting-
| Features | GoKwik | Razorpay |
| Primary Focus | E-commerce enablement using AI and ML to optimize conversions and reduce RTO (Return to Origin) rates | Comprehensive financial solutions including payment gateways, business banking, and capital solutions |
| Core Services | AI-driven checkout optimization; Fraud prevention; RTO reduction for e-commerce businesses. | Payment gateway; Payment links; Subscription management; Payroll; Business banking (RazorpayX); Lending (Razorpay Capital) |
| Target Audience | Primarily e-commerce businesses looking to optimize checkout and reduce losses due to failed deliveries | Businesses of all sizes across industries needing payment processing, banking, and capital solutions |
| Technology Stack | AI and machine learning-based solutions tailored for e-commerce challenges | Full-stack financial technology platform with APIs for seamless integration across services |
| Revenue Model | Transaction-based fees and subscription services for e-commerce optimization tools | Transaction-based fees for payment processing and subscription services for additional features |
| Notable Products | Fraud detection tools, Conversion rate optimization tools | RazorpayX (business banking); Razorpay Capital (lending); Thirdwatch (fraud detection) |
GoKwik is like having a personal growth hacker for your online store. It uses AI and machine learning to make your checkout smarter, faster, and more personal—resulting in higher conversions and up to 30% lower RTOs. It even boosts UPI success rates by 15%, which is a big deal in a country where UPI is king.
Razorpay, in contrast, is like a digital finance powerhouse. It not only handles your payments smoothly but also gives you tools for payroll, subscriptions, loans, and business banking with RazorpayX.
So if you’re an e-commerce brand trying to squeeze every bit of value from each transaction, GoKwik might feel like magic. But if you need a complete financial system to run and scale your business, Razorpay has all the boxes checked.
Comparison of Operational Features
Here is a detailed comparison of how both platforms operate-
| Operational Features | GoKwik | Razorpay |
| Checkout Optimization | Offers a mobile-first design with auto-filled addresses and personalization for higher conversion rates (up to 20% increase). | Provides a fast and simple checkout experience with pre-filled details for over 100 million users, boosting conversions by up to 40% |
| RTO Reduction | Uses AI and ML to reduce RTO by up to 30%, with 100% RTO protection available. Offers automated address correction and intelligent order confirmation | Offers a 50% reduction in RTO with advanced AI models to disable COD for high-risk users and provides 100% RTO cost protection |
| UPI Enhancements | Enhances UPI payments for a smoother user experience, resulting in 15% higher conversion rates | Does not specifically highlight UPI enhancements but supports a wide range of payment methods. |
| Payment Gateway Fees | Offers competitive pricing with 2.5% for prepaid transactions and 0.5% for COD orders beyond the free limit | Charges competitive transaction fees, though specific rates may vary based on the plan chosen. |
| Integration Support | Supports integration with Shopify, WooCommerce, Magento, and custom-built apps, with quick setup in under 24 hours | Offers seamless integration with various platforms through APIs, supporting a wide range of businesses. |
| Data Security | Emphasizes state-of-the-art data security systems to ensure data safety | Known for robust security measures to protect transactions and user data. |
| Customization Options | Offers basic customization but focuses more on optimizing the checkout process for higher conversions. | Provides basic customization options like color and logo adjustments, but prioritizes speed over deep personalization |
| Additional Features | Focuses on e-commerce-specific solutions like fraud prevention and delivery rate improvements. | Offers a broader suite of financial services including business banking (RazorpayX) and lending (Razorpay Capital). |
GoKwik vs Razorpay: Business Comparison
Now, let’s look at the numbers behind GoKwik vs Razorpay—because growth speaks volumes-
| Business Aspect | GoKwik | Razorpay |
| Market Valuation | $321 million | $7.5 billion after recent funding rounds |
| Market Share | N/A (Focuses on e-commerce optimization, market share not explicitly stated) | N/A (Significant market share in Indian fintech and payments sector) |
| Revenue Earned | Rs.167 Crore ($20 million) in 2024 | Rs.2,068 crore ($247 million) in recent financials |
| Expenses | Rs.1,569 crore | Employee benefits and salaries are major expense components |
| Profits/Loss | Loss of Rs.929 crore (FY24) | Flat profit of Rs 7.3 crore in FY23 for Razorpay Software Pvt Ltd |
| Employee Benefits | Focuses on a diverse and problem-solving culture. | Offers competitive salaries and benefits, with significant employee growth |
| Funding | Raised $115.53 million over six rounds | Raised $829.2 million in total funding |
| Userbase | Serves 130 million customers as of 2024 | Supports over five million businesses |
| Cash Flow | Positive Cash Flow | Negative cash flow of -$175K reported |
| Growth Rate | Experienced rapid growth, with a 50x increase in traction over six months | Witnessed significant growth, with a 54% increase in revenue in FY23 |
| Business Focus | E-commerce enablement and optimization. | Comprehensive financial services including payments, banking, and lending. |
GoKwik may be the newer kid on the block, but don’t let that fool you. It’s grown at lightning speed, with a 50x increase in traction and Rs.167 crore (around $20 million) in revenue in 2024 alone. It’s currently powering just 75 handpicked brands, but that exclusivity shows its commitment to deep, tailored partnerships.
Razorpay, in comparison, is a giant. With over five million businesses using its services and Rs.2,068 crore ($247 million) in revenue, it’s valued at a jaw-dropping $7.5 billion.
While GoKwik is still in its breakout phase, refining solutions for e-commerce excellence, Razorpay has already cemented its place at the top. The difference? One is growing with speed and precision in a focused niche, while the other is scaling wide with sheer power and reach.
Payment Gateway Charges Comparison: GoKwik vs Razorpay
Here comes the most important part of this write-up i.e. the Payment Gateway Charges. Which one is suitable for you?
Go through the following table and you’ll find out!
| Charge Type | GoKwik | Razorpay |
| Prepaid Transaction Fee | Around 2.5% | 2% + 18% GST on the fee |
| COD (Cash On Delivery) Charges | First 1,000 COD orders/month are free; 0.5% fee after that | Not specifically mentioned; varies based on custom agreements |
| International/Diners/Amex Cards | Not specified | 3% + 18% GST on the fee |
| Free Trial | 30-day free trial for Kwik COD & Checkout | No free trial, but no setup/maintenance fees |
| Settlement Cycle | T+1 settlement (next-day credit to merchants at no extra cost) | Typically T+2 (may vary); faster settlements may incur extra charges |
| Setup/Maintenance Fees | None | None |
| Additional Offers | Discounts on prepaid payments; exclusive partner offers | Custom pricing may be available for large businesses |
| Extra Charges (Refunds, etc.) | Not detailed | Additional fees may apply for chargebacks, refunds, or add-on services |
Note: We have already explained the business models of both companies. For more details, go through the following articles-
Final Words on GoKwik vs Razorpay
Choosing between GoKwik vs Razorpay isn’t just about features or fees—it’s about what your business truly needs to grow. If you’re an e-commerce brand craving higher conversions, fewer failed deliveries, and smoother checkouts, GoKwik speaks your language. But if you’re looking for an all-in-one financial system to power everything from payments to payroll, Razorpay is a trusted giant.
Both platforms bring value, but in very different ways. So ask yourself—do you need sharp, AI-driven optimization or a full financial backbone?
Whichever path you choose, make sure it aligns with your goals, your growth, and your vision for the future!
