Razorpay Launches Multi-Currency EEFC Account to Help Exporters Cut FX Costs

The new offering allows merchants to receive settlements in USD, EUR, GBP, AED and SGD directly into their EEFC accounts through Razorpay’s banking partner ecosystem, eliminating the need for immediate conversion into Indian Rupees (INR).

For many Indian exporters and globally operating businesses, managing foreign currency earnings efficiently remains an operational challenge. International payments are typically settled in INR, while businesses with ongoing foreign currency expenses may need to convert those funds back into foreign currencies to meet overseas obligations. This can result in multiple conversion cycles and avoidable foreign exchange costs.

As Indian businesses expand globally, greater control over foreign currency cash flows has become increasingly important. Businesses require flexibility over when to convert their earnings, particularly when they have ongoing foreign currency obligations.

Razorpay’s Multi-Currency EEFC Account is designed to address these challenges by allowing businesses to retain earnings in the original currency and convert them only when required. The solution extends Razorpay’s export payments stack beyond collections, helping businesses manage international earnings more efficiently.

The Multi-Currency EEFC settlement facility enables businesses to receive payment settlements directly into their EEFC accounts without mandatory INR conversion. By eliminating multiple conversion cycles, businesses can reduce unnecessary foreign exchange costs while gaining greater control over when to convert foreign currency according to their operational needs.

The solution is integrated into Razorpay’s existing dashboard, settlement engine and reconciliation processes. Businesses can access EEFC settlements without separate onboarding or changes to their current payment setup.

Commenting on the launch, Rahul Kothari, COO, Razorpay, said, “Indian businesses are selling to the world like never before - reaching a record USD 860 billion in FY26, and they need financial infrastructure that grows with them. Because Indian exporters deserve the same flexibility to manage their global earnings as they have in growing their businesses. With our Multi-Currency EEFC Account, we're making it easier for businesses to retain foreign earnings, reduce conversion costs, and operate with greater confidence in global markets. This is another step towards building financial infrastructure that helps Indian businesses compete and grow on the global stage.”

The launch reinforces Razorpay’s commitment to supporting the entire export money lifecycle, from collecting international payments to retaining foreign currency earnings and enabling cross-border payouts.

Razorpay, an omnichannel payments platform for businesses, strives to help Indian businesses with innovative technology solutions across their payment and banking journey. Established in 2014 by IIT Roorkee alumni Shashank Kumar and Harshil Mathur, the company strives to provide technology payment solutions to many businesses. A few angel investors have also invested in Razorpay’s mission to simplify payments and business banking.

The Multi-Currency EEFC Account marks Razorpay’s latest expansion of its export payments capabilities, giving businesses a mechanism to retain foreign currency earnings and manage conversions based on their operational requirements.