I think AI is impacting every aspect of the business. But one thing that we have just launched two things actually. One is the agentic commerce itself. So, we demonstrated this at GFF, then we launched something similar at AI Summit that you can chat with ChatGPT, you can chat with LLM, and you can buy things. Now we are extending that to inside apps. So we demonstrated live today that you can open the Zomato app, chat with it, 'Hey, I want samosa from this, I want chai from this,' and the Zomato app can buy it for you. Completely autonomous just by chatting on it. I think that can be a massive driver because a lot of Indians are still not used to searching and then finding and then placing an order. For their high-frequency use case, just pick up, imagine tomorrow you pick up an Uber app and say, 'Hey, get me a cab,' and that's it. Don't have to find and add and all those things. It happens in the background.
The second big thing that we are launching, which is for businesses, is the Razorpay Agent Studio. This is the world's first platform where an agent platform is built on top of payments. So a small business that today, let's say a customer comes to a website and drops off. You want to give him a discount to bring him back. The agent will make the call, convince the customer that, 'Hey, why did you drop off? What can I do for you? Need a 500 rupee discount? I will give you a 500 rupee discount, please come back and complete the order.' Like this is something that large companies will have a team to manage. But a small business doesn't have anything. So they can spin up agents on the fly and let them do all of this stuff for them. It can be something simple, like card payment recovery, it can be dispute management. It can be any number of things that a customer wants to do. They can create, build their own agents, and deploy on top of Razorpay. And then those agents can take decisions for you, fetch all of the data, and run within the guidance you set. So the business of running a business can completely go away because a single person can operate like a team of 100 agents.
Disputes and chargebacks are one of the biggest operational headaches for the business. How are you using AI to automate dispute resolution to reduce the time and cost in managing chargebacks? Yeah. So this is one of the agents in our Agent Studio. Wherever a dispute comes, it automatically opens, checks the Razorpay payment that the payment went through. Then it goes to your shopping platform, let's say Shopify, and checks if the order went through. Then it goes to the third-party delivery provider or logistic provider and sees if the order was delivered. Then it fetches the proof of delivery, creates a document on that, yes, this product was delivered, I have everything in place. It even checks in the risk ecosystem that what is the probability of success of this dispute based on our history, based on data that we submit on behalf. So that entire dispute management process can become automated. As long as it feels that the winning probability is more than 60%, you will submit on behalf. If it falls lower than that, then we'll ask you if you have any additional proof to add.
So, many businesses struggle with managing offers, discounts, and payment reconciliation. How can you help automate these everyday but complex operational challenges? Yeah. So we have launched what we call an Agent Dashboard. Where tomorrow when you wake up and let's say you want to reconcile your payments, you don't have to go and download a report and then reconcile. You can go to a dashboard, upload let's say your bank account statement and say, 'Hey, why don't you reconcile this for me? Tell me which of these payments, which of the Razorpay settlements have come in, which have not.' And then it highlights it for you. And the agent will then read your bank account statement, look at the Razorpay settlements, tell you which of these payments have actually been settled, which of the payments have been mis-settled, and give you a complete report. So the agent will do the job that typically a human would take two to three hours, instantly, completely on the fly. So that's the real power of where that's what we are bringing to business today.
Payment infrastructure is complex and integrations can break. Are we moving towards the future where payment systems are self-healing, where AI can fix the backend integration issues automatically? Yeah. So what we launched is also the agentic integration. Where when you come to our platform and you want to integrate Razorpay, you don't have to copy and look at our documentation, look at the code, copy-paste all of that. You go to our platform and say, 'Hey, this is what I am using to code, let's say I am using Replit, let's say using Claude Code.' It generates a prompt. You give that prompt to your agent and it will create the integration for you. Completely battle-tested, end-to-end covered, all use cases covered. And the system can evolve. So over a new instrument gets added, you just have to give one more prompt and the system will take care of it. So the human part of writing code, reading documentation completely goes away. We demonstrated live today that you can complete integration in less than two minutes.
Looking ahead, do you see payments gateways transforming from simple transaction processors into intelligent financial operating systems for the business? Yeah. So that's the idea that we are launching today with. The Agent Studio especially completely changes the way Razorpay operates for a business. From being just a payment provider, we become the operating system on top of which you can build and deploy your own agents and they can do all kind of manual operations for you. So it becomes this entire smart and intelligent platform that is running your business, not just managing the payment part of it.
Can you talk to us about the FDX 2026 and how the theme has changed over the years? Yeah, I think today is very important because everything is around AI and of course our theme is around how AI is changing the way fintech is being done in this country. We are very proud that we have 70 plus speakers. Speakers like from OpenAI, from Anthropic, from Nvidia, from Google DeepMind. From almost all cutting-edge AI companies. Including Indian companies like Emergent and Sarvam. Infrastructure providers like ElevenLabs. All of those are here along with fintech founders like founders of Groww, founders of Zerodha and multiple other fintech companies. And all of them are together here to talk about how AI is gonna change the way the fintech industry runs. So I think I am very excited about the kind of conversations that are happening at FDX. This is the largest FDX we have ever done.
As the financial system becomes increasingly automated and AI-driven, fraud is also evolving rapidly. How is Razorpay changing to build trust and security? Yeah. So AI also allows us to tackle fraud at a very deep level. Like every single transaction on Razorpay is now monitored by an AI agent. Which is able to figure out what kind of transaction is this? Does this pattern match with other kind of transactions we have seen and highlights it in real-time before it even happens. So earlier we could manually scan only 10-20% of transactions. Rest of it would run just on patterns. But now with AI, we can have AI agents monitor every transaction, see what the customer is doing while doing those transactions. And if it looks fraudulent, if it looks like it can lead to a dispute, it highlights and flags it for our team to pick up and then figure out what can they do to make it more secure by asking more information or collecting more documents. And I think that capability is bringing where intelligence is actually available on the fly. You can essentially think about if for every transaction, there was a human review, the fraud would go down significantly. AI allows us to essentially bring that interface.
One thing might be agentic commerce. If apps start making financial decisions automatically and autonomously, how does that change the architecture of the payment and the merchant platforms? Yeah. I think the essential idea of agentic commerce is that as Indians, we typically like to interact before we shop. And that is what we are trying to build with agents. That it's not that the agent will buy things for you without your knowledge. You still have to interact with it. It will find stuff for you. And only with your consent, it will make the purchase. So, the consent part is very important. The security of transactions is also very important. So, you never give your financial information to an agent. Because you don't know where that goes and lives in the model. So, the way we built it is we worked with NPCI to build on top of UPI Reserve Pay. Where you pre-authorize an amount that you allow an agent to pay. So when you interact with the agent, the agent can debit from that balance and complete the transfer for you. Without you sharing any private information and always within the guardrails of your consent and your transparency. So only when you say yes, make the payment for me, only then the agent will operate for you.
How secure is the transaction to agent guide, as far as data security is concerned? Yeah, sir, I spoke about that, that the data part is something where we have spent a lot of time on. That's why we created a completely new protocol. Where the payment information is never exchanged with the agent. The payment information is always with the customer or directly with the merchant on which you are transacting. The agent only knows that the payment is being initiated. It is being done through Reserve Pay. But it doesn't know your UPI handle. It doesn't know how much money you have. It doesn't know your PIN. The agent never sees any of that information. That happens outside the loop of the transaction.
Also about new product launches which are included to the AI transaction today. Yeah, so the four big product launches we have done is first, this is the agent platform where you can now sign up, onboard, integrate, and use Razorpay completely using AI agents. Which means you don't interact with the form, you never fill up a form, you never copy-paste lines of code, you never go to a dashboard and see the payment reports. You always interact with the agent, you tell the agent what you want, the agent does it for you. That's the first. The second one we have launched is agentic business banking. We built an agentic interface on top of a bank account. So, instead of going to a bank account and downloading reports again, you tell it that I want to know what is my cash flow situation like, I want to know what vendors I have to pay, and it will completely fetch it for you. I want you to submit this information to Tally and the agent will do it on behalf. The third biggest one is agentic commerce where you can now have commerce inside apps completely with agent interaction and it will complete it for you. And the last and the biggest one is the Agent Studio. Where you can build agents which will do operational stuff for you on top of Razorpay. And we are the first payments company in the world to have an agent studio on top of payments.
