RazorpayX Glossary Quiz

What is RazorpayX Lite?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

• A corporate credit card for business expenses.

What is a Current Account in RazorpayX?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• An account RazorpayX works to open in partnership with RBL bank or ICICI bank and offers all standard banking features like cheque book, debit card and account statement.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

What is NEFT?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• An account RazorpayX works to open in partnership with RBL bank or ICICI bank and offers all standard banking features like cheque book, debit card and account statement.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

What is RTGS?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• An account RazorpayX works to open in partnership with RBL bank or ICICI bank and offers all standard banking features like cheque book, debit card and account statement.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

What is IMPS?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• An account RazorpayX works to open in partnership with RBL bank or ICICI bank and offers all standard banking features like cheque book, debit card and account statement.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

What is UPI?

• A digital account created in RazorpayX for businesses to start accepting payments or make payouts within a short span of time.

• An account RazorpayX works to open in partnership with RBL bank or ICICI bank and offers all standard banking features like cheque book, debit card and account statement.

• A form of money transfer routed via RBI by the banks.

• An instant and 24x7 available money transfer service that is routed through NPCI.

What is a Contact in RazorpayX?

• An entity to whom payouts are made.

• An entity to which payouts can be made.

• Any transaction made using bank account linked to your RazorpayX account.

• The number of days you have to pay the invoice once issued to you.

What are the types of fund accounts supported by RazorpayX?

• bank_account, cards, and vpa

• bank_account, UPI, and NEFT

• cards, UPI, and IMPS

• bank_account, cards, and IMPS

What are Transactions in RazorpayX?

• An entity to whom payouts are made.

• An entity to which payouts can be made.

• Any transaction made using bank account linked to your RazorpayX account.

• The number of days you have to pay the invoice once issued to you.