A payment gateway is an e-commerce service provided by application service providers, enabling the authorization of credit card payments for various types of businesses, including e-commerce stores, online retailers, hybrid businesses, or traditional brick-and-mortar establishments.

This service acts as an intermediary, facilitating the seamless transfer of information between a payment portal (such as a website, mobile application, or interactive voice response service) and the Front End Processor or acquiring bank.

To setup RazorPay,

Explore > Integrations > RazorPay Settings

Setup RazorPay

To activate the RazorPay payment service, you must set up parameters such as the API Key and API Secret.

Once the service is enabled, the system will generate a Payment Gateway record and establish an Account head in the Chart of Accounts with the account type designated as Bank.

Additionally, it will generate a Payment Gateway Account entry. This serves as a configuration center where you can designate the account head from the existing COA and set the default Payment Request email body template.

After enabling the service and configuring the Payment Gateway Account, your system will be capable of accepting online payments.

Supporting transaction currencies

RazorPay will only work for the company having INR (Indian Rupee) as a Currency.