Razorpay launches account for Indian exporters, offers savings on overseas bank transfers

Fintech company Razorpay on Wednesday announced the launch of its MoneySaver Export Account to offer up to 50 per cent savings on international bank transfers for Indian exporters.

The company will help small and mid-size exporters open an account in a country of their choice and receive payments locally via Razorpay's platform, hence avoiding chargebacks and transfer costs. The initiative allows exporters to receive international bank transfers from 160 countries, it added.

Users can access the feature on the Razorpay dashboard. All payments will come with an electronic Foreign Inward Remittance Statement, the company said. Rahul Kothari, Chief Business Officer, Razorpay, said the service already supports over 10,000 exporters.

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