5 Best RazorpayX Corporate Card Alternatives & Competitors

Why look for alternatives to RazorpayX?

The rapid digital adoption has taken the corporate world by storm, and modern commercial cards integrated with spend management software have disrupted the corporate payments industry. The myriad players on the market are vying to have the edge over the others. 

Razorpay offers a product suite that is comprehensive and diverse, covering a range of financial services such as payroll software, neobanking, an e-commerce payment gateway, invoice and TDS automation, and so on. The RazorpayX Corporate Card is a part of the RazorpayX product offering. Today, RazorpayX is one of the leading corporate payment solutions in India.

It is, however, important to note that Razorpay is a converged payment solution that caters to both B2B and B2C sectors. With such a vast scope and reach, streamlining corporate payments is not Razorpay’s single-minded focus. It is therefore worthwhile to look at the most prominent commercial payment solution providers in India, the strong competitors of RazorpayX.

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RazorpayX Corporate Card competitors

Streamlining corporate payables has been a major pain point for startups and enterprises alike. Opting for the right corporate payment solution is pivotal to optimizing corporate payments. Managing business spend to ensure effective spend control is a mammoth task, and modern corporate credit cards offer the much-needed visibility into business spending.

The fast-evolving Indian B2B payments ecosystem has seen the emergence of several corporate card players, such as Happay, Razorpay, Karbon Card, Kodo, Enkash, Volopay, and so on. This growth spurt is likely to continue, as the commercial card market is projected to grow at a CAGR of 8.5% by 2028.

RazorpayX alternatives – A competitive comparison table

Corporate Credit Card	Card Pricing	Forex Charges	Credit Limit	Merchant Locking	Reward Type(s)	Mobile App	24*7 Support
Happay EPIC	Joining fee: 0; Card fee: 0; Annual fee: 0	Lowest 1%+GST	High/ Scalable	Yes (~8000 vendors)	Direct Cashback	Android+iOS	Yes (AI chatbot)
RazorpayX	Card and annual fees: ₹3000	1.99%+GST	Dynamic (up to ₹20 lakh)	No	Credits/ Discounts	Android+iOS	Yes
Karbon Card	Joining fee applicable	1.5%+GST	High	Yes	Credits/ Cashback	No	No
Kodo	Card fee: 0; Annual fee: 0	2.25%+GST	High	No	Perks/Cashback	Progressive web app	No
Enkash	Set-up/service fee applicable	Applicable	Dynamic	No	Credits/ Discounts	No	No
Volopay	Fee: $50 to $800/mo	1.6%+GST	High	Yes	Cashback	Android+iOS	No

Top 5 RazorpayX Corporate Card alternatives & competitors

The RazorpayX Corporate Card has a wide user base, which has effectively established its credibility in the Indian market. However, RazorpayX competitors have also been making their presence felt. Here’s an in-depth insight into the most prominent RazorpayX alternatives.

1. Happay EPIC

Happay offers a comprehensive suite of fintech solutions for complete spend management. The EPIC Corporate Credit Card is an unsecured B2B payment solution that simplifies and streamlines corporate payables. The mobile-first EPIC Payment Solution is one of the most robust and secure corporate payment platforms in India. 

With minimal paperwork and a faster processing time, businesses can sign up for Happay EPIC within hours. The comprehensive EPIC Card dashboard presents CFOs with an overview of all expenses and payments in real time, together with an in-depth insight into each spend. 

Happay EPIC can be seamlessly integrated with accounting and finance apps to offer end-to-end spend visibility to the accounts team. All transactions being automatically reconciled, employees are exempt from the cumbersome reimbursement process.

Preset card limits ensure optimal fund utilization, effectively allocating budgets to employees, teams, and projects. Virtual cards help automate and secure subscription management, cloud-based payments, and recurring expenses.

Happay EPIC’s spend management system has expanded to incorporate fund transfer to vendor bank accounts. With advanced analytics and actionable insights, Happay EPIC’s unified payment solution streamlines all payments, boosts cash flow, and optimizes working capital.

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1.1 EPIC Card features

1. AI-driven technology for complete spend control
2. A smart dashboard with macro and micro visibility
3. Accessibility on the go with Android and iOS mobile applications
4. A credit period of up to 45 days
5. ISO 27001 certification, PCI DSS compliance, and 256-bit SSL encryption
6. Dedicated physical and unlimited virtual cards
7. Single-use burner cards for safer online transactions
8. Virtual cards enabled with merchant locking 
9. Advanced spend analytics and custom reports
10. Real-time customer support with advanced chatbot features
11. Toggle on-off feature to lock/unlock cards
12. Preset card limits for budget allocation and tracking
13. Customizable cards that support name embossing
14. Third-party integrations: Quickbooks, Tally, SAP, Oracle, Microsoft Dynamics NAV, and iON

1.2 EPIC Card pros

• No joining fee, card fee, or annual fee
• 12%–14% overall savings 
• A high credit limit, which can be scaled based on credit utilization
• Smoother international transactions with no forex markup from Happay’s end
• Direct cashback rewards rather than complex reward points
• Automatic reconciliation and reduced expense fraud
• ERP integration for ease of use and better accuracy
• Customer base: SMEs and enterprises

1.3 EPIC Card cons

• User expectations per a G2 review: notification on exhausting card limit
• User expectations per a G2 review: a more lively UI design

Read More: 10 Best Expense Management Software

2. Karbon Card

Without the hassles of endless paperwork or the burden of pledged security, Karbon Business offers corporate cards and other payment solutions. Karbon’s corporate card enables real-time spend monitoring and tracking, with the provision to filter transactions by merchant, type, or data. 

The dashboard provides effective spend control and visibility to the admin and finance teams, the CFOs, and the management. Detailed insights into company and employee spending can be easily accessed. The spend limit of any card or account can be modified by the admins.

Karbon’s corporate card can be used to make seamless business payments. Multiple cards can be issued to a business for effective expense management. The complex reimbursement process is eliminated with the use of this card. With this RazorpayX competitor, users can block a merchant and prevent them from forcefully auto-debiting recurring payments.

Image Credit: karboncard.com

2.1 Karbon Card features

1. Three variants: standard, cashback, and booster
2. A user-friendly, customizable dashboard
3. Receipt archive to upload and store receipts
4. Easy card lock/unlock feature
5. Merchant blacklisting
6. Admin control to add/remove employees
7. Responsive customer support
8. ISO certified, PCI DSS compliant, and SSL encrypted
9. Third-party integrations: Freshworks, Hubspot, Segment, and AWS Activate

2.2 Karbon Card pros

• Merchant discounts and cashback rewards
• Single KYC
• Customizable card labels
• Flexible credit limits
• WhatsApp receipt upload and auto-match

2.3 Karbon Card cons

• No mobile application
• Limited customer support features
• A relatively high foreign transaction fee of 1.5%+GST

Also, Read: 10 Best Receipt Scanner Apps

3. Kodo

Kodo provides complete expense management, simplifying and streamlining corporate expenses. The Kodo Card offers real-time spend control and visibility to the finance team using a single dashboard. With a bird’s-eye view of all spending and effective control, finance and admin teams can better optimize cash flow.

Multiple cards with tailored spend limits are issued to business owners, simply with an eKYC and without any collateral. Unlimited virtual cards can be used for effective subscription management, preventing SaaS waste and budget overshoot. 

With advanced filters and statistics, spend analysis becomes simpler and more accurate. With this RazorpayX alternative, it is easier to ensure policy compliance and eliminate expense fraud. Besides, Kodo Pay can be used to make bank transfers and UPI payments from the dashboard.

Image Credit: kodo.com

3.1 Kodo Card features

1. Limit-based cards
2. The option to lock/unlock and block cards
3. Single-click alerts for missing receipts 
4. Daily, weekly and monthly credit, with a maximum credit period of 38 days
5. Custom tags to categorize and sort transactions
6. Automated expense filing
7. Third-party integrations: Segment, Zoho, Freshworks, Twilio, and Exotel

3.2 Kodo Card pros 

• Multiple cards for employees
• Receipt management in real time
• Granular spend limits
• Easy global payments
• Some cashback offers and perks
• Conversion of large expenses into no-cost EMIs

3.3 Kodo Card cons

• Lack of a high-performance mobile application
• Limited customer support features
• No merchant locking feature available
• A relatively high foreign transaction fee of 2.25%+GST
• No ISO certification, PCI DSS compliance, or SSL encryption

Also, Read: 10 Best Travel Management Software

4. Enkash

With a centralized expense management platform, Enkash helps companies optimize spending and cash flow. Businesses get access to multiple cards with dynamic credit limits and customized approval workflows. 

Digital KYC and collateral-free credit makes for quick, hassle-free onboarding. This RazorpayX alternative provides card management modules for effective card and expense management. Virtual cards can be deployed for SaaS, digital ad, travel, and other spending. 

The dashboard provides live updates to all stakeholders for real-time spend visibility and smarter spend control. Businesses can get minute spend details across teams, levels, and functions.

Image Credit: enkash.com

4.1 Enkash Card features

1. One-click payment processing
2. Predefined follow-ups for pending payments
3. Easy expense reporting
4. Flexible billing cycles
5. Disposable virtual cards for safer online transactions
6. Real-time transaction notifications
7. ERP integration for smoother finance processes
8. PCI DSS and SOC 2 compliant
9. Access to real-time data for data-driven reconciliation
10. Third-party integrations: Quickbooks, Tally, SAP, and Oracle

4.2 Enkash Card pros 

• Reduced expense fraud and out-of-pocket expenses
• Customized modules
• Discounts and credits on multiple platforms
• Customer base: small businesses, mid-market, and enterprises

4.3 Enkash Card cons

• Limited customer support features
• No mobile application (Android or iOS)
• No merchant locking feature available
• Not ISO certified 

Quick Read: The Business Guide to Corporate Travel Management

5. Volopay

Designed for startups and modern businesses in India, the Volopay Corporate Card offers effective business expense tracking with proactive spend control. Designated approvers can approve fund load and reload, enabling expense tracking in real time and eliminating the need for reconciliation.

Without any personal liability, the Volopay Card ensures easy onboarding. Besides physical cards, businesses can create multiple virtual cards to make SaaS and other online payments seamlessly and securely. Vendor-specific virtual cards help streamline vendor payouts. Bulk payouts can be managed from a single dashboard.

The use of Volopay Corporate Card improves cash flow visibility and management. With complete spend visibility, keeping tabs on business expenses becomes easier. This RazorpayX competitor eases the reimbursement process and receipt management.

Image Credit: volopay.com

5.1 Volopay Card features

1. Flexible credit cycles
2. Multi-level approvals
3. Dynamic expense reporting
4. A smart mobile application
5. Burner cards for enhanced security
6. ERP integration for syncing payment data in real time
7. Blocking or freezing individual employee cards
8. Multi-currency wallet for quicker international payments
9. Individualized spend limits on employee cards
10. Bank-grade security encryption
11. Third-party integrations: Quickbooks, Netsuite, and Xero

5.2 Volopay Card pros 

• Reduced expense fraud
• Automated recurring payments
• A high credit limit
• Better policy compliance and quick reconciliation
• Personalized cards with respective company logos

5.3 Volopay Card cons

• Relatively high pricing, based on spending
• Relatively high forex charges of 1.6%+GST
• Limited customer support features
• No PCI DSS compliance or SSL encryption for enhanced security

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Benefits of using corporate credit cards

When opting for a corporate credit card, it is important to understand the role these credit instruments play in a business. A business looking for a corporate card that is best suited for its needs must take into account some essential functionality. 

Per a Credit Lyonnais Securities Asia (CLSA) report, the Indian digital payments industry is slated to grow three-fold to $1 trillion by 2026. A robust corporate payment solution is an enterprise’s growth partner that transforms financial processes, enabling performance maximization, cost-effectiveness, and better cash flow visibility. 

With rapid technological advances and the changing financial landscape, CFOs are now embracing a finance function that is predictive, adaptive, and high-performing. Modern corporate credit cards, which are a type of credit card that banks issue to businesses, have thus emerged as the instrument of choice for most businesses.

Employers can assign these corporate cards to their employees to streamline business expenses and mitigate expense fraud. Corporate credit cards are also a convenient credit instrument for employees who often endure the painstaking reimbursement process. With advanced analytics and actionable insights, corporate cards help effectively streamline spend reporting and management. 

Modern corporate cards offer higher credit limits than bank cards and business credit cards. A line of credit helps improve cash flow management. Besides, expenses such as SaaS subscriptions, web hosting, and online ads can be made efficiently with corporate credit cards. Virtual cards and single-use cards enable enhanced security in online transactions.

Parameters to choose the best RazorpayX alternatives

Rather than diving into the first RazorpayX alternative they come across, businesses should weigh all the major options available on the market. Here’s a set of parameters that can help businesses determine which RazorpayX alternative works best for effective spend management.

1. Higher credit limit

Unlike personal credit cards and business credit cards, corporate credit cards offer a higher credit limit to businesses. A line of credit benefits businesses by improving their purchasing power and cash flow. 

When picking a corporate credit card, a company must ensure that the corporate card provider offers a higher credit limit, with the option to increase the limit upon request. Some RazorpayX Corporate Card alternatives offer high credit limits, which can be scaled depending upon a business’ turnover and credit utilization ratio. 

2. Higher savings

Corporate cards enable efficient cash flow management and operational efficiency with real-time insight into expenses, efficient curbs on unauthorized spending, and optimal fund utilization. These cards also help automate expense reporting. 

Additionally, some RazorpayX alternatives offer better forex benefits and other savings, discounts and cashback offers with multipliers, and exclusive deals from technology partners—all of which translate into a positive cash flow. 

Also, Read: High ROI with Corporate Credit Cards

3. Collateral-free credit & digital onboarding

The age-old practice of pledging collateral to secure a bank credit card has often proved detrimental to a business’ financial health. Therefore, while choosing a RazorpayX alternative, an unsecured credit line must be absolutely non-negotiable. 

The longer processing time associated with corporate credit cards has been a major pain point for businesses. It is therefore imperative to opt for a card that ensures quick onboarding without the hassles of elaborate paperwork. Digital onboarding is the way forward.

4. Greater control and visibility

With the integrated spend management software, corporate credit cards enable real-time visibility into spending with live updates. Companies can use actionable insights to exercise effective control over business spending. 

5. Enhanced security 

A RazorpayX Corporate Card alternative must provide advanced security features, with security compliance and encryption. ISO 27001 certification, PCI DSS compliance, and SSL encryption are essential to any debit card or credit card product in order to ensure safe card transactions and safeguard cardholders’ personal data.

The use of virtual cards is known to mitigate card fraud, and single-use burner cards provide greater data protection. Vendor-specific virtual cards offering merchant locking and blocking features add another layer of security.

6. High-performance mobile app 

Corporate credit cards integrated with spend management software being a rather recent disruption, not many RazorpayX competitors have a mobile application. For better productivity, it is important to choose a RazorpayX alternative that has a highly functional mobile app, both Android and iOS versions. 

7. Advanced features 

When selecting the RazorpayX alternative that is best suited for a business, looking for advanced features is a prerequisite for success. Some corporate credit card providers stand out with features such as spend analytics, card lock/unlock, merchant locking, and add-on cards.

8. Integration with third-party apps

Corporate cards with robust ERP integrations can easily detect and flag any fraudulent expense claims, ensuring negligible policy violations. Seamless integration with third-party accounting and finance applications, such as Quickbooks, Tally, SAP, Oracle, etc., ensure ease of use and better data accuracy.

9. Real-time customer support

The best RazorpayX alternative must offer live support around the clock. No customer grievance should go unaddressed. Be it via email, phone, or chat, robust customer support ensures nothing falls through the cracks. A chatbot is also a handy, new-age feature that guarantees 24*7 accessibility.

10. Cashback rewards

Unlike the RazorpayX Corporate Card that offers different types of credits and discounts, some of the RazorpayX alternatives provide cashback rewards. Businesses often find the process of redeeming credit points complex and unprofitable. Cashback rewards are easier to comprehend and avail. Several RazorpayX competitors also provide discount offers on multiple platforms.

Quick Read: EPIC corporate rewards program

https://www.youtube.com/watch?v=UhsH5h8nkv0&list=PL-L5ATXfCRugNbsO6JmUJFHn_VPEIS5Mi&ab_channel=Happay

RazorpayX overview

The RazorpayX product offering includes RazorpayX Payroll for payroll management and the RazorpayX Corporate Credit Card, which is a credit card issued to businesses for streamlined business payments. RazorpayX comes with API technology for complete automation.

With an easy onboarding process and a dynamic credit limit, RazorpayX offers a line of credit without the need for pledging any security. When used effectively, the RazorpayX Corporate Card helps enhance the purchasing power of businesses while shortening the cash cycle. 

The RazorpayX Corporate Credit Card ensures complete spend control and visibility. The dashboard helps track spending practices, with the option of sorting the card spending by employee, department, or vendor. The RazorpayX mobile application provides ease of use to CFOs, admins, human resources, and employees alike. 

Setting up recurring payments and subscriptions using RazorpayX enables smoother transactions. Virtual cards can be used for more secure online payments. The integration with the RazorpayX banking hub and the Razorpay payment gateway eases the payments process.

Also, Read: 11 Best Billing Software for Your Business

Image Credit: dribble.com

1. RazorpayX Corporate Card features

1. Limits set on cards, expense types, and users
2. A 45-day credit period
3. Toggle cards on or off for better spend control and security
4. A user-friendly interface for ease of use
5. A functional mobile application (Android and iOS versions)
6. Preloaded add-on cards for employees
7. A suitable approval workflow for larger expenses
8. ISO 27001 certified and PCI DSS compliant
9. Card lock/unlock feature
10. Third-party integrations: Quickbooks, Tally, and Zoho

2. RazorpayX Corporate Card pros

• Personalized spending limits on individual cards
• Greater visibility to keep expense fraud at bay
• Auto-repayments using the payment gateway
• Easy international card payments and ATM withdrawals
• Better policy compliance and easy reconciliation
• Credits and discount offers on a wide range of platforms
• Customer base: small businesses, mid-market, and enterprises

3. RazorpayX Corporate Card cons

• A card fee and annual fee of INR 1499 each
• Credit limit capped at INR 20 lakh
• No merchant locking feature available
• A relatively high foreign transaction fee of 1.99%+GST
• No SSL encryption for enhanced safety
• User expectation per a G2 review: improvement in UI desired

RazorpayX alternatives – FAQs