Cashfree Payouts vs RazorpayX (2026): which should you pick?

Pick Cashfree Payouts if

• Fits if you pay many people or vendors by bank transfer in India
• Works for teams that want payouts through an API or a Tally sync

Look elsewhere if

• Skip it if you need expense reports or company cards, as it does neither
• Not for you if you pay outside India, since it is priced in rupees for Indian transfers
• Watch out: listed fees exclude bank charges and GST, so each payout costs more than the table shows
• Watch out: transfers above ₹2,00,000 are limited by banking hours and can take longer, says the FAQ

Pick RazorpayX if

• Fits if you run payouts and vendor payments for an Indian business
• Works for finance teams that need approval steps and TDS on payments

Look elsewhere if

• Pricey if you pay per payout, since plan fees cover platform access only and charges are billed separately
• Skip it if you need receipts or company cards, as it covers neither
• Watch out: the API Payouts bundle is an add-on at ₹4,000 a month
• Watch out: features are blocked if you don't upgrade to a paid plan, though the partner-bank account stays open
• Watch out: prices are in rupees excl. GST, and only the quarterly figures were readable

Cashfree Payouts

• It is a payout product for India, priced in rupees; it is not an expense-report or company-card tool.
• Listed transfer fees exclude bank charges and GST, so the total per payout is higher than the figure shown.
• The pricing page shows a Cashfree Wallet and a Connected Payouts table, and both carry the same transfer fees.
• Transfers above ₹2,00,000 are restricted by banking hours and can take longer, according to the FAQ.

RazorpayX

• Plan fees cover platform access only; payout charges are billed separately and shown on the dashboard.
• The API Payouts bundle is an add-on at ₹4,000 a month, and other add-ons are arranged through sales.
• Access to RazorpayX features is blocked if you do not upgrade to a paid plan, though the partner-bank account stays open.
• Prices are in rupees and exclude GST; the Annually toggle was not readable, so only the quarterly figures are recorded.

Cashfree Payouts

Bulk and instant transfers

Pays bank accounts and UPI handles through NEFT, RTGS and IMPS, in bulk from an uploaded spreadsheet or by API, including on Sundays and bank holidays.

Multi-bank routing

Connects several bank accounts so payouts can be split or routed across banks, with balances managed in one place.

Cashgram payout links

Sends a link by SMS, email or WhatsApp so the recipient enters their own payout details and receives the funds.

Checks before payout

Validates a bank account number with IFSC or a UPI handle before money moves, and supports manual review steps for unusual payouts.

Reconciliation and Tally sync

Matches payouts against transactions and balances across banks, and syncs payout data with Tally.

Developer APIs

APIs, SDKs and documentation cover payouts and beneficiary management, with a dashboard for status tracking and downloadable reports.

RazorpayX

Payouts by NEFT, RTGS and IMPS

Pays or schedules payments over NEFT, RTGS and IMPS, with instant beneficiary addition and a maker-checker step on payouts.

Bulk payouts

Pro and Vendor Payments plans accept up to 50,000 payouts at once from a CSV file uploaded in the banking portal.

Vendor payments and TDS

The Vendor Payments plan captures invoices by email, upload or portal, reads them with OCR and calculates TDS linked to a vendor's PAN.

Approval workflows

Pro adds custom approval flows, and Vendor Payments adds multi-layer approvals set by amount, team or department.

Payout links

Single or bulk payout links let customers claim an amount into their own bank account without sharing details up front.

Banking APIs and add-ons

An API Payouts bundle, bank account validation, UPI payouts, ERP integrations and auto-reconciliation are sold as paid add-ons.

Cashfree Payouts

• Payouts₹0

  no monthly fee; charged per transfer

  Per transfer: NEFT ₹3 to ₹8, RTGS ₹4 to ₹10, IMPS/UPI ₹6 to ₹15 by amount, excluding bank charges and GST.

• Cashgram₹0

  no monthly fee; charged per link

  Payout links: ₹2.50 per Cashgram plus the transfer charge, or ₹2 more with bank account verification.

RazorpayX

• Core₹1,499

  per month, billed quarterly (₹1,999 list)

  Basic payouts, automated beneficiary onboarding, simple approvals and the mobile app. ₹4,497 + GST a quarter.

• Pro₹4,199

  per month, billed quarterly (₹5,999 list)

  Adds bulk payouts, payouts without full bank details, team roles and custom approval flows. ₹12,597 + GST a quarter.

• Vendor Payments₹9,799

  per month, billed quarterly (₹13,999 list)

  Adds invoice OCR, vendor onboarding, a vendor portal and automated TDS. ₹29,397 + GST a quarter.