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Razorpay launches MoneySaver export account for Indian exporters

By Gloria Mathias

July 28, 2023

  • Account Payments
  • Accounts
  • Digital India
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Razorpay, Accounts, Payments, Indian Merchants, Indian Exporters, Digital Payments, FinTech, MoneySaver Exports AccountsRazorpay has announced the launch of the MoneySaver Export Account, enabling a seamless digital payment process for Indian exporters.

The Razorpay MoneySaver export account specifically caters to exporters allowing merchants to easily receive international payments through wire transfers such as ACH, SWIFT, SEPA, BACS, and Fedwire.

MoneySaver export account ensures that Indian exporters can offer their global customers a local banking experience across 200+ countries. USD, Euro, Pounds or Naira, MoneySaver export account ensures receiving international wire transfer export payments as smoothly as accepting an NEFT/RTGS transfer.

The Razorpay account allows an Indian business to open an international bank account wherever its customers are without having a local presence. The account creation is a single-click process, and the exporter can start receiving international payments within 5 seconds of account creation.

For an existing Razorpay merchant, the MoneySaver account is available to use under the “International Payments” tab on the Razorpay dashboard.

Traditional remittance systems suffer from complexity and outdated processes, involving tedious paperwork and time-consuming onboarding procedures. Additionally, there is a pressing need for greater fee transparency, particularly for small and medium-sized enterprises (SMEs). Challenges arise with chargebacks, transaction failures, and high per-transaction expenses for alternative payment methods beyond bank transfers.

With the MoneySaver Export Account, Indian exporters can experience seamless wire transfers from their international customers across 200+ countries and settle their funds directly in their Indian bank accounts.

Moreover, international buyers can now enjoy a cost-free payment experience as they can make payments in their local currency through various payment methods like ACH payments, FedWire, SWIFT money transfer, and more.

Following the Razorpay export account, Indian exporters can focus on their business without worrying about payment processing, as they guarantee to provide their buyers with an exceptional payment experience.

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