You should have this in mind: Facebook was not the first social network, google was not the first search engine, amazon was not the first marketplace. So think of the market whether there is room for some more improvements and/or the market is huge enough to have more than one similar products. How can you solve the shortcomings of the similar product and be different.
A very valid point raised by the author. Having worked with multiple api's i can say that developers start preferring that product which has better api docs than the other product which has a crappy doc inspite of having many features.
I was working with PayPal few years back and there are bunch of apis that they provide, but the explanation and usage is so bad that you end up spending a lot of unnecessary time figuring out what to do.
And then i came to Stripe integration. They have beautiful apis which can be integrated smoothly and very easily. I tell developers to follow Stripe's api for writing documentation and examples.
A lot like Instamojo, but Razorpay looks more refined product. Signed up and used the API a bit. Using it was a breeze. Also the documentation is like Stripe which helps a lot.
Congrats on the launch! I am hopeful that recurring transaction problem will also be tackled later on.
I feel the data analysis in the most efficient way and to learn from the data is the most important aspect to grow.
You have mentioned in the point 2 that "We do heavy-lifting of event collection and pre-processing to enable fast and flexible queries powered by map-reduce."
I guess the event collection will be based on some Javascript call. If that is so, do include the flexibility to attach some properties with the event.
On this link you can find the experience of Embedded payments, i implemented it on our site but the docs on the api are not complete on paypal, rather complete they are not present at one place.
* Yes, Individual properties should have been reflected in the url.
Actually if you type in the property in the search box it is creating a url which does the work, but clicking on a property is not making the link.
Hope they'll refine it a bit.