Top 10 Best Payment Gateway for Online Payments in India

No matter how great your business idea is or how efficient your startup is, your Rate of Investment is highly dependent on the ease of your customer’s transaction. A payment gateway is a sure-shot way to ensure hassle-free payments that can result in ease of payments. Also, the payment gateways have lessened the dependency of the businesses on banks by allowing them to collect payments directly from their customers.

Now, what does this payment gateway actually mean? Well, a payment gateway is a platform that helps you to manage your payments easily by allowing your customers to pay by their desired payment method. But choosing the best payment gateway is not always easy. You need to do a lot of research on the latest payment trends in your business.

If you are looking to set up your online store, then you need to integrate a secure payment gateway into your business. But, making a robust payment gateway is not an easy task, It includes a lot of documentation, verification, and highly technical working knowledge. However, using a robust digital payment solution for your business can reduce these hassles for you. For making a successful payment gateway you need to get a software development team or you can hire remote developers. But before you get more into the payment gateway development, you need to look at the ten best Indian payment gateways that are highly successful in the Indian ecosystem.

Which are the top payment gateways of India?

Payment gateway plays a major role in the success of any business. So it’s the responsibility of the business owner to ensure a smooth flow in their payments. A robust online payment solution can help you with this. Here are the top payment gateways that are trending in the Indian payment markets:

  1. Cashfree

Cashfree offers a wide range of payment options like Mastercard, UPI, VISA. It started in 2015. It also provides a vast range of cardless pay later and EMI options like Ola money postpaid and Zest Money. 

Cashfree has the fastest payment settlement cycle that processes the payment between 24 to 48 hours. Also, it assigns a manager for every transaction to help the customers. It has launched a new solution called “Cashway”. This solution facilitates the transaction between two parties by generating a link. 

Talking about the charges, Cashfree charges 1.75% per transaction for Net Banking, Debit card, and Credit card payments. It charges 2.5% per transaction for Cardless EMI and Pay Later facility. For international cards, a commission of 3.5% and an additional charge of Rs.7 is charged.

  1. Paytm Payment Gateway

Paytm is the most famous online payment gateway in India. It has tied up over 50 banks in India to provide a hasslefree payment experience to its users. This will help to reach out to more and more customers. 

Paytm offers multiple features to its users like the ease of transaction, POS transactions, Invoice, Multiple currency acceptance, etc. It uses a robust interface to offer faster transactions to its users. 

Paytm Payment Gateway charges a 1.99% transaction charge for debit card and credit card and net banking transactions. For international payment gateway transactions, Paytm charges a 2.8% transaction charge.

  1. PayUMoney

PayU is a Netherland based payment service company founded in 2002. Later, it was separated from goibibo to make PayUMoney India in 2013. It has launched an alternative credit lending platform called LazyPay in 2017. PayU got an NBFC license in 2018. 

PayU offers a unique checkout experience to its users by offering them with a customizable user interface. It also allows users to collect their payments without redirection. Also, it accepts multiple payment methods like a credit card, debit card, UPI, etc.

The setup fee for PayUbiz is between 4900 to 19,900 INR, while there are no charges for PayUMoney. The transaction charges for PayUBiz is from 2.20% to 3.70%. For PayUMoney, it is 2%.

  1. Instamojo

Instamojo is a successful Indian digital money transfer solution provider with more than a million customers. It was established by Sampad Swain, Aakash Gehani, Harshad Sharma, and Aaditya Sengupta. 

Instamojo has generated more than three million payment links. Also, it is serving its payment services in more than fifty-thousand online stores. It charges a transaction charge of 2 percent and an additional three rupees for every transaction. This transaction charge is the same for credit card, debit card, and online payments.

Instamojo offers several important features to its users like electronic invoices, easy customer onboarding, real-time payment analytics, pay later option, etc. It also offers a live chat facility to its customers for easy resolution of their queries.

  1. Razorpay

Razorpay was established by Harshil Mathur and Shashank Kumar in 2014. It has its headquarters in Bangalore. The company provides robust mobile money payment solutions to the merchants for accepting, processing, and disbursing their payments.

Razorpay is an API driven cashless payment solution that enables merchants to automatize their business operations. Also, it supports more than a hundred payment modes. It has complied with PCI DSS Level 1 compliance to provide better payment security to its customers.

Razorpay charges a transaction fee of Rs.2 per transaction for Debit Card and Credit Card payments and Rs.3 for international credit or debit card. 

  1. CCAvenue

CCAvenue is a famous payment gateway provider that was founded by Vishwas Patel and Vishal Mehta. It offers more than 200 payment options including Visa, Diners Club, Master Card, Amex, etc. It offers its web pages in eighteen Indian and International languages.

CCAvenue offers multiple features such as multiple currency processing, easy customization, smart dynamic routing, card storage vault, etc. to its users.

CCAvenue doesn’t charge anything for the initial setup. However, it charges a yearly maintenance fee of Rs.1200 after installation. It charges a 2% percent transaction fee for all Indian Debit cards, Credit cards, UPI payments, IMPS, and Mobile wallets. For international credit cards, It charges a 3% transaction fee. However, the user has to pay applicable taxes separately.

  1. Mobikwik

Mobikwik was founded by Bipin Preet Singh and Upasna Taku in 2009. It has raised funding of more than 100 million dollars. Mobikwik is serving 120 million users, 3 million merchants, and more than 300 billers. 

Mobikwik focuses on providing a secure payment experience to its users. It also reads the OTP automatically, so that the user doesn’t need to enter the OTP by typing it on their smartphones. Also, it provides its users the real-time analytics of their payments. It supports international transactions.

Mobikwik charges 1.90 percent for the Indian credit card, debit card, UPI, etc. and 2.90 percent transaction fees for international payments. 

  1. Direcpay

Direcpay is an integrated online payment platform specially made for the Indian retail market. It also offers multiple payment modes like a credit card, debit card, net banking, UPI, etc. to its customers. It provides robust technologies to its users for securing their payments.

Direcpay has no maintenance costs. However, it charges 2% transaction fees on payments made by methods like a credit card, debit card, eWallets, NEFT, IMPS, UPI, and cash cards. For international payments, it charges the transaction fees of 3%.

  1. Billdesk

Billdesk is a payment gateway provider company founded by Ajay Kaushal, M.N Srinivasu, and Karthik Ganapathy in 2000. Bank of Baroda was the first investor of BillDesk. In 2015, Billdesk got an investment of 200 million US Dollars from General Atlantic and Temasek.

Easy usability, high security, and efficient controlling are some important features of Billdesk’s payment gateway. Click pay and autopay are its most unique features. Also, it offers an electronic checkbook facility to its users.

Billdesk charges a transaction fee from 1.75% to 2.5% for net banking transactions. For debit card and credit card transactions, Billdesk charges a transaction charge between 0.75% to 1%.

  1. ePaisa

ePaisa is free of cost POS which was founded by Pravinkumar Bhandari. It was funded at an amount of 3.4 Million dollars. 

ePaisa’s online payment solution allows its users to integrate their sales and marketing tools efficiently. It provides an accurate stock management facility to users. Real-time analytics is the most important feature of this payment gateway. 

Also, the users do not need to maintain powerful servers or advanced knowledge of technology to operate this gateway.

Wrapping up

Payment methods have blurred the boundaries among the various countries across the world. It has allowed the small business owners of a remote village of India to accept payments from any part of the world. Also, it has lessened the burden of customers by allowing them to make secure payments to anyone. 

You can choose a suitable payment gateway for your business by considering your business size and location. All the above-mentioned payment gateways are unique in their own ways, now it’s up to you to choose the best one for your business.

I hope we have provided you with enough information about the best Indian payment gateways. Still, if you have any doubts you can easily reach us at any time. Thank you for reading this blog.

About the author

Rahul Yadav is a versatile digital marketing consultant from Delhi who offers exceptional web and digital services worldwide.

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