AI-driven commerce to redefine digital payments: Razorpay CEO

Mumbai (Maharashtra) [India], October 9 : Harshil Mathur, Chief Executive Officer (CEO) of fintech firm Razorpay expressed said that Artificial Intelligence (AI) driven commerce will redefine digital payments.

Speaking toon the sidelines of Global Fintech Fest (GFF) 2025, "The power of AI is now truly embedded into every single dashboard, every single interaction. So, second big thing which we launched, which is the AI payments as I spoke about, I think that is just going to change as commerce. I think that is going to be a massive change."

He expressed optimism on the Unified Lending Interface (ULI), which enables real-time loan offers during purchases.

Mathur said he is very excited about the Unified Lending Interface, which was launched by NPCI last year. "ULI will allow credit to happen on the fly. You decide that you need credit, you need a personal loan from purchase time. Lenders can bid for your credit and give you a credit at the cheapest cost. So when the ULI will be up, then credit will become really really embedded and much more transparent."

However, he pointed out that the customers need to learn the usage of the ULI, adding that the "journey has just begun."

On redefining the future of digital payments, Razorpay CEO shared breakthrough updates on the company's innovations across UPI payments, AI-driven commerce, embedded finance, and cross-border transactions.

Speaking about the opportunity in the cross boarder payment landscape, he said, "Cross-border is largely unexplored because there is so much opportunity there that for players like us, there is a lot of space where, through innovation, the business can be taken 10 times ahead from here."

Razorpay has also made strides in enabling cross-border UPI payments through its integration with platforms like Airbnb.

Going further, Mathur applauded the new rules by the Gift City to facilitate stakeholders involved in cross-border payments. He said that the new regulations, which now allow for faster, net-settlement-based transfers, are going to open up this market massively.

Beyond commerce, he talked about how AI is also being deployed for risk mitigation and fraud prevention. "With AI, we can identify fraud... fraudsters don't behave like genuine customers. AI can predict where failure is likely and stop those frauds before they happen," said Mathur.

Razorpay, National Payments Corporation of India (NPCI), and OpenAI have collaborated to work towards launching Agentic Payments on ChatGPT and exploring AI-driven commerce at a national scale. Currently in the pilot stage, this will usher in a new era of intelligent, conversational, and seamless digital payments.

Commenting on the launch of this form of digital payments, Mathur said, "With Agentic Payments, we are transforming AI assistants from simple discovery tools into full-fledged shopping agents. For the first time in India, every buyer can have a personal shopping assistant that not only finds the best product at the perfect price but also completes the entire purchase journey seamlessly."

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