Razorpay Unveils 'Vulcan' AI Payments Foundation Model
Razorpay
has launched Vulcan, what it describes as India’s first transformer-based AI
foundation model built specifically for payments, as the fintech seeks to make
digital transactions more reliable, secure and predictable at scale.
Built using NVIDIA’s
accelerated computing and AWS’s cloud infrastructure, the model has been
trained on approximately three trillion data points across four billion
payments. Razorpay said it learns from roughly 3,000 signals per transaction
and has been developed as a proprietary, ground-up model, with both its
architecture and training data belonging to the company.
The launch comes
as India’s digital commerce market is projected to reach $350 billion by 2030.
Razorpay said its payments ecosystem sees transactions moving across UPI,
cards, net banking, wallets and Cash on Delivery, spanning hundreds of banks
and gateways.
An internal
study covering 1.5 million shoppers and more than 51,000 businesses found
similar payment friction across metros and small towns, including failed
transactions, delays and drop-offs. This prompted Razorpay to develop a shared
model rather than separate models for individual payment problems.
Harshil Mathur,
CEO and Founder of Razorpay, said, “India's appetite for digital payments is
real, but it isn't universal yet - for a large part of the country, going
digital still comes down to one thing: does it work, every single time? That's
the customer we built this for: the one still deciding whether to trust a
screen over cash in hand. An AI-led payments foundation model doesn't just
solve today's problem and stop there. Every payment teaches the system
something that makes the next payment better. That's what makes this feel less
like a product launch, and more like the starting point for how payments in
India keep getting better on their own, for years to come.”
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