Neon, a direct-to-consumer (DTC) payments platform for games, has partnered with Razorpay, a leading payment service provider.

Neon caters to game studios and publishers globally. The company offers services such as Merchant of Record, tax and compliance support, fraud protection, customizable checkout options, and local payment solutions in various regions.

Expanded Payment Network

This collaboration has expanded Neon’s payment network to include seven partner Payment Service Providers (PSPs): Razorpay, Stripe, PayPal, Paysafe, dLocal, Bamboo, and Komoju. This network covers over 99% of global mobile game spending across more than 50 markets worldwide.

Focus on India

India is a key market for Neon due to its rapidly growing user base in mobile gaming. In fiscal year 2024-2025, there were record app installs in the country, making it the world’s largest mobile gaming market by volume. However, revenue monetization is still at an early stage.

While total in-app purchase (IAP) revenue remains relatively modest at around $400 million, it is expected to grow as digital payment infrastructure improves.

UPI Dominance

India’s digital payments are heavily influenced by Unified Payments Interface (UPI). In fiscal year 2024-2025, UPI accounted for an impressive 83% of all digital transactions in India, totaling over 186 billion transactions. This establishes UPI as the leading real-time payment method in the country.

With Razorpay’s Online Payment Gateway, Neon now enables Indian gamers to use UPI-enabled wallets and local credit/debit cards in Indian rupees for payments. This feature covers primary payment options where UPI is dominant.

For game publishers, Neon acts as the Merchant of Record (MoR) in India, handling operations from checkout processes to tax compliance, fraud protection, and dispute resolution. Razorpay’s adherence to RBI’s PA-CB framework ensures secure cross-border remittances and timely settlements.