INDIA, Mumbai, September 10, 2026: Prime Minister Shri Narendra Modi took to social media to share a glimpse of his visit to the Razorpay booth at the Global Fintech Fest (GFF) 2026 in Mumbai, where six Indian AI & Fintech companies showcased innovative products and solutions that are transforming India’s fintech landscape. The Fintech company, Razorpay presented Vulcan, India’s First AI Payments Foundation Model.
Razorpay CEO, Harshil Mathur responded to the Prime Minister’s post, acknowledging the moment as a proud one for the company and for India’s fintech journey in AI.
Vulcan is a single AI payments system inside Razorpay software that doesn’t just process payments but understands them – trained on nearly 3 trillion data points across 4 bn payments, with an aim to make every digital payment in India faster, safer, and smarter. In real time, through the use of AI, it helps businesses boost an online transaction’s success rate, catches fraud in an online transaction before it happens, and gives an easy online payment checkout experience to customers.
For Razorpay, the moment was especially significant. A decade ago, the company set out to make digital payments simple for Indian businesses. Today, that mission has matured into building the deep technology powering one of the world’s rapidly growing payments ecosystem.
As India’s digital commerce economy heads towards a projected $350 billion by 2030, the payments ecosystem will need to become even more intelligent, resilient, and seamless. Razorpay Vulcan is developed for this next chapter of India’s digital growth. Businesses like Blinkit, Bachatt and redBus are seeing an 8–10% improvement in payment success rates and 8x more international card fraud detected and stopped.
From using AI to make payments more reliable and secure to helping businesses better understand and manage their financial operations, Razorpay is building the intelligent infrastructure that will power the next era of Indian commerce – simpler, safer, and smarter.
