Razorpay and IndusInd Bank have launched RAY, an AI-powered WhatsApp account manager that helps businesses track payments, access support and perform selected financial actions through messages.
Razorpay has introduced RAY, an AI-powered account management assistant on WhatsApp designed to help businesses manage payment-related activities without constantly accessing the company's dashboard.
The service, launched in partnership with IndusInd Bank, enables businesses to interact with the AI assistant through text messages and voice notes. Users can obtain payment information, seek support and perform selected payment-related tasks directly through WhatsApp.
RAY is designed to make routine payment management more convenient for businesses. Instead of logging into the Razorpay dashboard for every requirement, users can communicate with the AI assistant through WhatsApp.
Businesses can use RAY to request payment-related information, understand transaction activity and receive assistance with various operational requirements.
The AI account manager supports interactions through messages and voice notes, giving businesses another way to access payment information and services.
This approach is aimed at making financial management more accessible, particularly for businesses that need quick information while managing their day-to-day operations.
RAY goes beyond simply providing information. The AI assistant can also perform certain actions on behalf of businesses.
These include:
These capabilities allow businesses to handle selected tasks without opening the Razorpay dashboard.
Another feature of RAY is its ability to provide information about settlements and alert businesses to potential payment-related issues.
For example, the assistant can identify when an upcoming settlement is scheduled around a bank holiday. In such cases, RAY can notify the business and provide an option to settle the payment earlier.
This could help businesses better manage their cash flow and avoid potential disruptions caused by banking holidays.
Razorpay said RAY has already handled more than 20,000 conversations with businesses. However, the company has not disclosed the total number of businesses currently using the service.
Bajaj Finance is among the first businesses to go live with the AI-powered account manager, according to Razorpay.
The early adoption indicates that businesses are beginning to explore conversational AI for managing routine financial and payment-related operations.
Razorpay said RAY has been developed using its AI agent platform, which enables one AI agent to access multiple capabilities.
These capabilities cover areas such as:
Rather than functioning only as a chatbot that provides information, RAY can connect with different payment-related functions and initiate certain actions based on business requests.
Razorpay said its system evaluates responses in real time to reduce the risk of incorrect or hallucinated information.
Accuracy is particularly important when AI systems interact with payment and financial information. The real-time evaluation mechanism is intended to improve the reliability of responses provided to businesses.
The launch represents an expansion of RAY's capabilities. Initially positioned as an AI-based information and support tool, RAY can now also initiate selected actions on behalf of businesses.
This shift reflects the broader movement toward AI agents that can not only answer questions but also execute tasks using connected business systems.
IndusInd Bank is serving as the banking partner for the RAY service, while Razorpay is providing the payments and technology infrastructure.
The partnership combines banking services with Razorpay's payments ecosystem and AI capabilities to deliver the WhatsApp-based account management service.
Razorpay said RAY is available to businesses of different sizes through WhatsApp, potentially making AI-powered payment management accessible across a broader business segment.
Conclusion
Razorpay's RAY marks a move toward AI-driven payment management through WhatsApp, allowing businesses to access information, receive support and perform selected financial actions using text or voice notes. With IndusInd Bank as its banking partner, the service aims to simplify everyday payment and settlement management.