In Payment gateways like Simpl, Razorpay or gokwik, they don't use AI. They mostly use machine learning and data science to enable merchants some level of control over which customer is fraudulent and which one is genuine. They also provide some level of control over which customer can see Cash on delivery option and which only sees prepaid (since cash on delivery orders are more prone to RTOs).

Software Developer

How AI is helping startups like Razor pay, Simpl?  From my high level understanding, I don't see use of AI, much in these. Enlighten me.

Welcome to Indian Startups's Private Community

How AI is helping startups like Razor pay, Simpl?

From my high level understanding, I don't see use of AI, much in these. Enlighten me.

AI in Payment Gateways

Software Engineer

AI in Payment Gateways- Grapevine

I am here in the event right now and completely blown away with the innovation and work Razorpay is putting in. 100% bullish with what they are building and the way they are doing it.

Saw their new AI called Razorpay Ray, really good and with all the people from RBI, and other officials speak I think Razorpay is pretty well prepared for issues that Paytm is facing today.

Really excited for what comes ahead. Tell me if you have any questions or thoughts. If you guys are here, meet up

At the Razorpay FTX event

Founder

What's the scene with Indian FinTech companies, like Jupiter, Razorpay, Navi, Fi, Cashfree etc...

I see some of them have started hiring again, are they a good option to join?

What's the current scene with Indian FinTech

Most AI startups

Today I learned: Freecharge still exists

Business Development Manager

Welcome to Office Gossip's Private Community

Seen it all. Ask and you shall be informed.

Ask me anything about Razorpay

Engineering Manager

I’m building a SaaS that needs a payment gateway. Razorpay, stripe and cashfree can’t onboard new businesses because of some RBI regulation(since December 2022). 

What would you guys suggest I go with? Ideally I would need a PG that can split payments.

Payment gateway options?

There is a lot of buzz about AI apps but I wonder if existing startups are thinking deeply about changing business models because of AI or leveraging AI to automate/replace people in some functions?

Are your startups discussing the repercussions of AI to the business ?

To all paytm folks and people having first hand knowledge of this matter: how true is the statement that the 1k layoffs are due to AI? or is it just a bs PR move to justify layoffs (like any other organisation)

Paytm: AI led job loss

100% bullshit 😆 
  
 AI is like an easy target to blame.  
  
 Truth is - They have accumulated insane NPAs in low ticket size loans which RBI also highlighted. Pausing that business made a huge chunk of people redundant. At the same time, there’s insane pressure to boost up the stock price as it’s still treading much lower than IPO price.

Product Manager

Growth Manager

I work at this company since 2+ years, day before yesterday company received an email from one of the two payment gateways that they use for catering Indian and International users for both payments as well as payouts. Now since the gateway that was catering the international users banned the company's account, all of the international transactions went to 0 quickly which was more than 90% of the total revenue, additionally they fined the company for $425,000

Now the problem for the company is:
1. The transactions completely stopped
2. A large sum of money in the account as balance is on hold by the payment gateway accounting to approximately, 1/5th of fine.
3. The fine which the payment gateway is charging, doesn't have any underlying reason as why the fine amount is so big.
4 There's absolutely no reply from the payment gateway on the email hence no way to contact directly.

Now, the thing is company knew this day was possible but they had took preventive measures as well and weren't expecting this to happen anytime soon and atleast with a prior notice unlike which landed like a bomb with a brief (text only) email.

So there are features called radar and chargeback protection in the payment gateway which take some percentage of your transaction to ensure if there are some fraudulent/illegal transactions they will flag those transactions and prevent the customers (our company in this case) from getting disputes from the card owner/payee, having which of no use to the company. As per the terms, a threshold percentage of your transactions need to be disputed in order to be flagged as suspicious for the payment gateway which was way less in the company's case.

Although company too could have prevented this from just banning users whose payments were getting disputed by the card holders claiming they didn't authorise the purchase or either the user didn't deliver for what the payment was done by the payee. In either of the case banning that user was the ideal action.

Bengaluru based startup lost 90% of revenue in one night

Welcome to Fintech India's Private Community

I'm launching a new SAAS business and I'm stuck on choosing the right online payment gateway. I've been looking at PayU and Razorpay, but I'm open to exploring other options too!

Started new Business - PayU vs. Razorpay or Something Else? (Payment Gateway Help!)

Welcome to Business Roles's Private Community

I'm launching a new SAAS business  and I'm stuck on choosing the right online payment gateway. I've been looking at PayU and Razorpay, but I'm open to exploring other options too!

New Business - PayU vs. Razorpay or Something Else? (Payment Gateway Help!)

Welcome to Software Engineers's Private Community

What would happen to all the AI startups that are raising massive rounds at insane valuations once OpenAI improves GPT-4 (some spicy rumours are going around) or comes up with GPT-5?

Most of these "AI" startups are just a wrapper around these existing, capable LLMs. Better versions of these LLMs would start generalising more and doing those specific functions done by these startups much better.

Future of GPT-wrapper "AI" startups

Seeing this for a few weeks now. Noticed it when PG tweeted about how there are 100 ai startups in the batch and all are legit. That is none of then it’s phony or opportunistic. He also talked about how domain experts are building in AI and great founders. 

Then saw Garry Tan promoting the batch and retweeting others doing it. A couple of other partners talked about the companies they are excited about too. 

To me, this signals that yc isn’t getting the kind of interest they used to get and they have to promote the quality of the batch to be able to generate enough interest. For the first time in 10-15 years maybe. If they have to do it to ensure the companies are getting enough funding interest, what about startups without a brand name behind them. 

We will see more of these as we get close to the demo day. Most startups are just ai wrappers or agents. Not sure about the exact differentiation between them. Not clear from the descriptions or websites.

Shower Thought: the market is so bad, even yc partners have to promote their startups

What are some of the latest AI Startups in India solving some unique problems ?

hello viners,

Want to know about startups which are doing AI based solutions in the manufacturing / process industry.

which are the current big names and how does the future look like?

startups doing AI based solutions in manufacturing / process industry

Welcome to Product Managers's Private Community

One of the biggest use cases of AI I have seen recently till now is Shopify's , makes it easy for you as a merchant to clarify all your queries

Anything better than I am missing?

AI in Payment Gateways

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