Many Fintechs From India Can Emerge to Serve Global Markets: Razorpay CEO

Razorpay CEO says several billion-dollar fintechs from India could emerge by taking UPI-style innovation global.

Updated: 10 Sept 2026 • 9:50 am

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Many Fintechs From India Can Emerge to Serve Global Markets: Razorpay CEO

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Razorpay CEO Harshil Mathur said several billion-dollar fintechs from India could emerge to serve global markets, drawing a parallel with how US internet leadership produced companies like Google and Amazon. Speaking at the Global Fintech Fest, Mathur pointed out that 49 percent of all real-time payments in the world happen through India, and argued that fintechs from India can replicate the UPI playbook in emerging markets such as Southeast Asia, which share similar conditions of fragmented markets, multiple languages and still-developing card penetration.

India's dominance in real-time payments could be the launchpad for the next generation of fintechs from India to go global, according to Razorpay CEO Harshil Mathur.

Here is what Mathur said at the Global Fintech Fest about the opportunity ahead for fintechs from India.

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Why India's Payments Scale Matters

Mathur cited that 49 percent of all real-time payments in the world are happening through India, a scale he believes gives fintechs from India a structural advantage similar to how the US produced big tech names such as Google and Amazon through its early internet leadership.

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Where the Opportunity Lies for Fintechs From India

Mathur pointed to Southeast Asia as a natural next market, noting that its fragmented markets, multiple languages and still-developing card penetration mirror the conditions that led to UPI's growth in India. He said the same ingredients that led to UPI's birth and growth exist in a lot of these markets, suggesting fintechs from India are well placed to solve similar problems abroad.

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FAQs

What did Razorpay's CEO say about fintechs from India?

Ans. Harshil Mathur said several billion-dollar fintechs from India could emerge to serve global markets, similar to how US internet leadership produced companies like Google and Amazon.

What share of global real-time payments happen through India?

Ans. Mathur said 49 percent of all real-time payments in the world are happening through India.

Which markets did Mathur flag as an opportunity for fintechs from India?

Ans. He pointed to Southeast Asia, citing fragmented markets, multiple languages and developing card penetration similar to the conditions that led to UPI's growth.

Where did Mathur make these comments?

Ans. He spoke during a session at the Global Fintech Fest.

What is Razorpay's business?

Ans. Razorpay is an Indian fintech company offering payments processing and related financial services to businesses.

Does Mathur see conditions abroad similar to India's UPI story?

Ans. Yes, he said many Southeast Asian markets have fragmented payment ecosystems and multiple languages, similar to the conditions that led to the birth and growth of UPI in India.