Announced August 18, 2026 as India’s first transformer-based payments foundation model, Vulcan was trained on about 4 billion payments and nearly 3 trillion data points, using NVIDIA GPUs and AWS, and hosted in India. Razorpay is explicit that it is not an LLM: the same backbone is adapted to payment success, fraud, and checkout personalisation. Weights and APIs are not public; merchants see the effects in production, not as a downloadable model.