A payment gateway is an e-commerce application service provider service that authorises credit card payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar.

A payment gateway facilitates the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the Front End Processor or acquiring bank.

To setup RazorPay,

Explore > Integrations > RazorPay Settings

Razorpay Settings

Setup RazorPay

To enable RazorPay payment service, you need to configure parameters like API Key, API Secret

Razorpay Settings

On enabling service, the system will create Payment Gateway record and Account head in the Chart of Account with account type as Bank.

Razorpay COA

Also, it will create Payment Gateway Account entry. Payment Gateway Account is configuration hub from this you can set account head from existing COA, default Payment Request email body template.

Payment Gateway Account

After enabling service and configuring Payment Gateway Account your system is able to accept online payments.

Supporting transaction currencies

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

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