“Oh, I pay 7% to my bank.”
A single meeting in Old Delhi changed how Shashank Kumar and Harshil Mathur thought about the opportunity in front of them.
Six years ago, while speaking to a potential customer, they admitted Razorpay was slightly more expensive than other players.
But the customer laughed — he’d been paying 7–8% in bank charges for cross-border transactions.
That moment revealed something bigger:
Even in an age of perfect information, India’s financial landscape still had massive inefficiencies — and an even bigger market than they imagined.
In this episode of The Blume Podcast, Harshil & Shashank join Karthik Reddy to unpack the blind spots, surprises, and customer truths that shaped Razorpay’s early years.
💡 Watch the full episode now — a masterclass in listening to customers and spotting hidden markets.