New Delhi, August 18, 2026 (Yes Punjab News)
Fintech company Razorpay has launched an AI-powered payments foundation model, Razorpay Vulcan, developed using technology from NVIDIA and Amazon Web Services (AWS), to make digital transactions more reliable, secure and predictable as India’s digital economy expands.
The company described Vulcan as India’s first transformer-based AI foundation model built specifically for payments.
Razorpay said the model is designed to address key challenges across the country’s diverse digital payments ecosystem, including payment failures, fraud detection, transaction routing and friction during checkout.
The company said the model was developed following an internal study involving 1.5 million shoppers and more than 51,000 businesses. The study found that payment-related friction remained a challenge for consumers across both metropolitan and smaller markets.
According to Razorpay, early components of Vulcan have already been deployed across around three trillion data points on its payments network to evaluate routing, fraud and risk decisions on live transactions.
The company said the technology has helped improve payment success rates by up to 10 per cent and detect and prevent eight times more international card fraud. It has also identified five times more fraudulent or disputed transactions without increasing the number of alerts.
On its Magic Checkout platform, Razorpay said 40 per cent more shoppers were able to see their preferred UPI application, helping facilitate an additional 1-2 lakh purchases every month.
Razorpay CEO and Co-founder Harshil Mathur said the initiative was aimed at making digital payments more dependable, particularly for consumers who were still deciding whether to shift from cash to digital transactions.
Pahal Patangia, Head of Global Industry Business Development and Payments at NVIDIA, said India’s rapidly evolving digital economy was creating an opportunity to make payments more intelligent, reliable and secure.
Kiran Jagannath, Head of Financial Services and Insurance and Conglomerates at AWS India and South Asia, said the AI foundation model, built on Amazon SageMaker, brings together billions of transaction insights into a continuously learning intelligence layer.
India’s payments ecosystem includes UPI, cards, net banking, wallets and cash on delivery, with transactions routed through hundreds of banks and payment gateways.
Razorpay said Vulcan is designed to assess available payment routes in real time and select the most suitable route before a transaction is attempted.
The company said the model will eventually be expanded to support payment decisions across authentication, routing, fraud detection and lending as India’s digital commerce market continues to grow.
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