Razorpay opens the B2B Payments index at 99.3% — a near-total lock across all three engines.

The inaugural reading for B2B Payments & Business Banking is a one-name market on AI surfaces.

Razorpay is named in 149 of 150 prompts, posting 98% on ChatGPT and a perfect 100% on both Gemini and Google AI Mode.

Cashfree is the only other brand crossing the two-thirds mark at 74% combined SoV, followed by PayU at 62% and PhonePe Business at 46%.

The citation pool that feeds this answer is heavily brand-owned: razorpay.com alone accounts for 91 citations, more than the next two source domains payu.in at 51cashfree.com at 45 combined.

B2B Payments enters the study as the most concentrated vertical on the CITE Index so far — a category where the AI-search question 'best payment gateway for Indian startups' has effectively one default answer.

The structural reason is the citation pool: nearly two-thirds of Razorpay's evidence trail is its own documentation and blog, with the remainder spread across Stripe explainers, GoKwik comparison pages, r/IndianStartups threads, and a long tail of small SaaS-affiliate blogs.

That makes this a developer-documentation game, not a brand-awareness game; the brands ranked 5 through 10 — Paytm Business, RazorpayX, Open, Instamojo, Juspay, BharatPe — are not losing on sentiment (Juspay is the only one with notable caution at 13%), they are losing on the absence of third-party content that an LLM treats as authoritative.

For an AEO specialist working any of these challenger brands, the first week's work is mapping which buyer-language prompts surface Cashfree and PayU but skip them, then targeting the SaaS-affiliate and Reddit surface area that those two have already colonized.