After Malaysia, Razorpay expands into Singapore, strengthening presence in Southeast Asia

India’s fintech giant Razorpay is expanding into Singapore, marking it its second expansion into Southeast Asia following Malaysia.

The company aims to tap into Singapore’s rapidly-growing digital payments market by offering a suite of AI-powered financial solutions, including real-time cross-border payment capabilities.

The company’s offerings in Singapore will include multi-currency transactions, real-time payment processing via PayNow, and a payment gateway designed to integrate seamlessly with local and international networks. It will also introduce Agentic-AI, an AI-powered toolkit that enhances transaction efficiency, fraud prevention, and customer onboarding.

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Additionally, Razorpay’s AI concierge, RAY, will provide businesses with automated payment solutions, including payouts, payroll management, and vendor transactions. The firm expects these innovations to improve transaction success rates while driving operational efficiencies.

“With 30-50% of online payments in Singapore being cross-border, businesses need seamless, cost-effective solutions,” said Angad Dhindsa, Southeast Asia Head at Razorpay Singapore. “We are excited to provide Singaporean businesses with tailored solutions that reduce costs while enhancing cross-border capabilities.”

Razorpay first expanded beyond India in 2023 with its acquisition of Malaysia-based Curlec, where it has since reported a tenfold growth in operations. The firm is looking to replicate that success in Singapore, leveraging its experience in handling high-volume, real-time payment transactions.

As part of its market entry strategy, Razorpay will collaborate with banks, financial institutions, and regulators to ensure compliance with Singapore’s financial landscape.