- No card? No problem!
Customers who do not have access to cards can use the Local Currency Bank Transfer method to pay through their bank accounts, making it easy for you to sell products in foreign countries with lower card coverage.
- No visit to bank branch
Currently, the customers have to visit their bank branch to make an international bank transfer to the seller's account. This process heavily impacts the customer experience as it is time-consuming. Using the Local Currency Bank Transfer method, you can make bank transfers online. Also, it gives you the flexibility to make the transfer in local currency via ACH transfer.
- Ease of opening foreign accounts
Opening a bank account in a foreign country is a tedious process for Indian businesses. Razorpay offers a real-time and hassle-free solution to open foreign currency bank accounts across different geographies.
- Cheaper way to transfer funds internationally The customer can transfer funds to the seller's local currency account via local ACH transfer. This incurs less cost than international card payments or SWIFT transfers.
- Faster payment experience
Accept payments without a website or app using other Razorpay products, such as Payment Links and Payment Pages.
- Currency Conversion
Customers can initiate payments in their native currency. Payments are settled in your current bank account in India in INR.
- Hassle-free experience
Razorpay offers exceptional payment flows (or products) to provide a hassle-free experience with a choice of payment methods for international buyers and low transaction charges by foreign payment providers.
- Sucess Rate
Card Payments are an expensive mode of payment. Also, international card payments have a lower success rate due to ever-increasing fraudulent attempts and extensive risk checks done by banks. We help achieve better success rates when processing transactions using the Local Currency Bank Transfer payment method.
- No chargeback
Avoid unnecessary chargebacks and poor customer experience with an authorised Local Currency Bank Transfer method.
- Multi-currency settlement support
Razorpay supports a range of foreign currencies, including USD, CAD, EUR and GBP, for originating international transactions. You can use USD ACH as of now, whereas more options like SWIFT will be available soon.