Cashfree Alternatives & Competitors

Cashfree is a popular payment gateway that has been used by multiple businesses as their go-to payment solutions. With its various features, Cashfree allows merchants to easily collect online payments, manage refunds, subscription management and even process international transactions- all in a single place.

But, just like every coin has two sides, Cashfree has its limitations too. That's why businesses are exploring the best Cashfree alternatives. For instance, Cashfree might not always offer the most competitive transaction fees, and some users find that it lacks certain customization options.

Luckily, there are many competitors for Cashfree payment gateway available online. That’s why we will look at the top alternatives to Cashfree to help you find the perfect payment gateway to suit your business needs.

Drawbacks of using Cashfree Payment Gateway

There are multiple reasons why people are looking for Cashfree alternatives. Drawbacks like a complicated dashboard, no cryptocurrency support, lower success rates, and more. Let’s discuss it thoroughly:

1. Pricing Issues

One of the main reasons why people are looking for Cashfree competitors is because of its pricing plans. Cashfree can be more expensive than it seems. They charge a yearly fee, and some users have found hidden costs that show up unexpectedly. This makes it hard to know exactly how much you will be paying in total.

2. Complicated Dashboard

The dashboard, where you manage your payments, is not very easy to use. Some people find it confusing and hard to navigate compared to other payment gateways. This can make managing your payments more difficult. As such, merchants might consider other Cashfree alternatives that don't have this issue whatsoever.

3. Lower Success Rate

Cashfree has been reported to have a lower success rate for payments as compared to other gateways like Razorpay or PayU. This means that sometimes payments do not go through, which can upset your customers and result in lost sales for your business. So, businesses are looking for Cashfree competitors that have a higher success rate.

4. Limited Discounts for High Volume

If your business processes a lot of transactions, Cashfree may not offer the best discounts. Other competitors of Cashfree might give you better deals when you have a high volume of transactions, helping you save more money.If your business processes a lot of transactions, Cashfree may not offer the best discounts. Other competitors of Cashfree might give you better deals when you have a high volume of transactions, helping you save more money.

5. No Cryptocurrency Support

Cashfree does not allow businesses to accept cryptocurrency payments. This can be a disadvantage if you want to offer more payment options to your customers, especially as more people are starting to use digital currencies like Bitcoin and Ethereum.

6. Limited Foreign Currency Support

International businesses look for Cashfree alternatives because it only supports around 35 currencies. They need payment gateways that offer broader currency support and competitive rates to handle global transactions more efficiently and reach a wider customer base.

How to Pick The Best Alternative to Cashfree Payment Gateway?

Choosing the right payment gateway is crucial for any business that wants to accept online payments. Here’s what to consider when looking for an alternative to Cashfree:

1. Transaction Fees

Look at the costs involved in using different payment gateways. These costs can include setup fees, transaction fees (a small percentage of each sale), and monthly fees. Compare these fees to find an option that fits your budget and helps you save money.

2. Security

Security is super important when handling online payments. Make sure the Cashfree competitors follow strict security standards, like PCI DSS, and use special methods to keep your data safe. Look for features like fraud detection and two-factor authentication to protect your transactions.

3. Integration

Your payment gateway should easily connect with your website or online store. Check if the gateway supports your technology and offers easy-to-use tools, like plugins or APIs, to make the setup process smooth. This will help ensure a hassle-free checkout experience for your customers.

4. Customer Support

Good customer support is essential for quickly resolving any issues you might face. Look for a Cashfree competitor that offers 24/7 support through different channels, such as phone, email, or live chat. This way, you can get help whenever you need it.

5. Multiple Payment Methods

People like to pay in different ways, so choose an alternative to Cahsfree that supports various payment options like credit/debit cards, digital wallets, and bank transfers. Offering multiple payment methods can make it easier for your customers to pay and can help boost your sales.

6. International Transactions

If you plan to sell to customers in other countries, ensure the payment gateway supports multiple currencies and works well internationally. Check for any extra fees for currency conversion and cross-border transactions to avoid unexpected costs.

7. Reputation and Reliability

Finally, research the reputation of the payment gateway by reading reviews and checking industry ratings. Look for a provider with a good track record of reliability and minimal downtime to ensure your business runs smoothly.

By considering these factors, you can find the best Cashfree alternative that meets your business needs and helps you provide a great payment experience for your customers.

Comparison Of Best Cashfree Competitors

Here's a bird's eye view of the best Cashfree alternatives:

Popular Competitors of Cashfree payment Gateway

When looking for alternatives to Cashfree, it's important to find payment gateways that offer similar or even better features to suit your business needs. Here are ten top alternatives:

1. PayU

PayU is a popular Cashfree alternative in India due to its seamless integration and wide range of payment methods. It supports credit/debit cards, net banking, UPI, and wallets, making it suitable for businesses of all sizes with advanced fraud detection and recurring billing options.

Features Of PayU:

• 150+ payment methods including credit/debit cards, net banking, UPI, and wallets
• Supports international payments
• Instant refunds
• Recurring billing and subscriptions 

Pros and Cons of PayU:

Pros: Wide range of payment methods, robust security, detailed analytics. 

Cons: No cryptocurrency support, setup can be complex for small businesses.

2. Billdesk

Another great competitor of Cashfree is Billdesk payment gateway. It is a well-established Indian payment gateway offering secure transactions with credit/debit cards, net banking, and UPI. It supports high-volume transactions and automated refunds, making it ideal for utility payments and large enterprises.

Best Features Of Billdesk:

• Supports credit/debit cards, net banking, and UPI
• Automated refund processing
• Instant settlements within 3-5 days
• Strong fraud detection tools 

Pros and Cons Of Billdesk:

Pros: Easy setup, secure transactions, good for high-volume payments. 

Cons: No store creation feature, lacks coupon and offer engine module.

3. CCAvenue

CCAvenue payment gateway offers multiple payment options such as EMI and multiple currency support. It provides strong customer support and automated invoicing, making it popular among Indian businesses for its comprehensive services.

CCAvenue Features:

• Supports credit/debit cards, net banking, UPI, and wallets
• Multiple currency support
• EMI payment options
• Automated invoice generator 

Pros and Cons Of CCAvenue

Pros: Multiple payment modes, great customer support.

Cons: Limited global reach

4. Razorpay

Razorpay supports credit/debit cards, net banking, UPI, and wallets with instant refunds and recurring payments. Its detailed dashboard and strong security features make it a good choice for startups and small businesses.

Top Razorpay Features:

• Supports credit/debit cards, net banking, UPI, and wallets
• Instant refunds
• Recurring payments
• Detailed dashboard for analytics 

Razorpay Pros and Cons:

Pros: Comprehensive features, strong security, good for startups. 

Cons: Can be expensive for small businesses, no cryptocurrency support.

5. Stripe

Stripe is a global payment gateway that offers multiple payment methods and currencies with advanced fraud detection. It provides easy integration with APIs and supports recurring billing, making it a great choice for businesses with global reach and technical expertise.

Stripe Features:

• Supports multiple payment methods and currencies
• Advanced fraud detection
• Recurring billing and subscriptions
• Easy integration with APIs 

Pros and Cons of Stripe:

Pros: Global reach, excellent developer tools. 

Cons: Can be complex for non-technical users.

Techjockey’s Verdict

Cashfree is a popular payment gateway known for its extensive features and ease of use. However, it has its limitations, such as limited currency support and higher transaction fees. Fortunately, there are many excellent alternatives available, like PayPal, PayU, and Razorpay, each offering unique benefits. When choosing an alternative, consider your business needs, budget, and the specific features that are most important to you. This will help ensure you select the best payment gateway to support and grow your business.