Razorpay appoints Praveen Parihar as its new CISO

Praveen Parihar has been appointed Chief Information Security Officer (CISO) at Razorpay, where he will lead the fintech company's cybersecurity strategy and governance.

The move comes as the fintech major, valued at $7.5 billion, prepares for a public offering within 18 months and seeks to stand out in the neobanking market.

Parihar, who announced his new role on LinkedIn, brings over 14 years of experience in cybersecurity, fraud prevention, and risk management, with a track record of building strong security infrastructures for fintech firms. Based in Bengaluru, he will focus on strengthening Razorpay's defenses against cyber threats and ensuring regulatory compliance across its financial products.

Prior to Razorpay, Parihar spent five years at Maya, contributing significantly to information security compliance and fraud risk management. There, he developed advanced fraud detection systems, advised on regulatory matters, and collaborated with leadership to minimise fraud in banking and wallet systems. His expertise included anti-fraud strategies, identity and access management, credit card fraud prevention, and consumer lending security.

An entrepreneur, Parihar founded Dailycacy, a Mumbai-based food-tech platform that combined local cuisine with secure digital infrastructure. The venture grew rapidly and was acquired by an angel investor, highlighting his ability to integrate technology and business. He has also served as an independent consultant, assisting clients in telecom, banking, and payments with PCI-DSS, HIPAA, and cloud security compliance.

Parihar holds a B.Tech in Electronics Communications. Earlier in his career, he honed his skills in network security audits, penetration testing, vulnerability management, and ISMS implementation at companies such as ControlCase, Aneja Associates, and Tata Technologies.

Cybersecurity is crucial for fintech companies handling sensitive data and dabbling with AI-led innovation. Razorpay's AI-powered business banking platform, RazorpayX, now manages 5% of India's digital money transfers (Immediate Payment Service) and processes $30 billion in annualised transaction volume, with 85% year-over-year growth.

The company also launched an AI-driven Know Your Payslip feature, where employees can ask questions about their payroll calculations, tax deductions, and salary components through a chatbot.

More than 50,000 customers — including large firms such as Swiggy, Meesho, Cred, Upstox, and Bharti AXA Life Insurance — have adopted RazorpayX to streamline financial operations.