Top 20 Razorpay Alternatives & Competitors

Overview of Razorpay Alternatives for Payment Gateway Solution

Businesses are using more digital ways to handle payments, so finding a good payment gateway is super important.

One popular payment gateway is called Razorpay. It's easy to use and has lots of features, which makes it a favorite for many companies. But, since new things keep coming out in the tech world, it’s a good idea to look at other options to make sure businesses are getting the best deal.

Let's check out some of the best Razorpay alternatives that have great features and smart solutions to help different types of businesses. Whether you’re doing freelance work, running an online store, starting a small business, or managing a big company, picking the right payment gateway can really make a difference.
 

Drawbacks of using Razorpay Payment Gateway

There are several reasons why businesses are looking for the best Razorpay alternatives, these are: 

• Transaction charges: Almost every payment gateway charges its merchant some fee for every transaction. It can be fixed charges or some percentage of the transaction amount. Similarly, razorpay also charges somewhere between 2% to 4% depending on the transaction type (domestic, International, card type etc.). These charges can later affect the profitability for businesses that have high transaction volumes. So, businesses are looking for other alternatives to Razorpay who’s fees and charges can align with their business needs.
• Account approval takes time: The approval time of Razorpay can be lengthy and it often requires several days or even weeks. This delay can be an issue for businesses who need to start accepting payments immediately. So that, they won't miss out on initial sales opportunities or delaying their operations.
• Global reach: Razorpay is a robust payment gateway for domestic transactions within India but its international reach is limited compared to other global payment gateways. Businesses who are looking for international customers might find this a limitation.
• No Cryptocurrency support: Razorpay does not support cryptocurrency transactions. This can be a significant drawback for businesses and customers interested in using cryptos like Bitcoin. This lack of support can push away a growing number of people who prefer using cryptocurrencies, making payment options less flexible.
   

How to Pick the Right Razorpay Alternative?

Choosing the right payment gateway is crucial for any business that wants to accept online payments. Here are the key factors to consider when selecting a payment gateway:

1. Transaction Fees

Transaction fees and charges should be one of the crucial factors to look at while choosing the right Razorpay alternatives. Look for competitors to Razorpay that have lower charges and fees. Different gateways charge various fees, including:

• Setup fees: One-time fee for setting up the service.
• Transaction fees: A percentage of each transaction.
• Monthly fees: Regular fees for using the service.

Compare these costs to ensure they fit within your budget.

2. Security

Security is very important. So, check whether the Razorpay competitor you choose follows PCI DSS (Payment Card Industry Data Security Standard) rules and uses special methods like encryption and tokenization to keep your data safe. Also, look for features like fraud detection, two-factor authentication, and other safety measures.

3. Integration

The gateway should seamlessly integrate with your website or e-commerce platform. Ensure the eway
Razorpay like payment gateway supports your current technology stack, offers easy-to-use plugins or APIs, and requires minimal development work. A smooth integration will save time, reduce headaches, and ensure a hassle-free checkout experience for your customers.

4. Customer Support

Reliable customer support is essential for resolving issues quickly. Look for gateways that offer 24/7 support through multiple channels (phone, email, live chat).

5. Multiple Payment Methods

Customers always want to pay with their preferred method. Choose a Razorpay competitor that supports various payment options like credit/debit cards, digital wallets, and bank transfers. With many payment methods , it will be easy for your customers to pay and can help increase sales.

Verify that the gateway supports a variety of payment methods, such as:

• Credit and debit cards
• UPI, eWallet, Net Banking
• Bank transfers
• Cryptocurrency

6. International Transactions

If you plan to sell internationally, ensure the gateway supports multiple currencies and has a broad geographic reach. Consider additional fees for currency conversion and cross-border transactions.

7. Reputation and Reliability

Last but not least, research the Razorpay alternative’s reputation through reviews and industry ratings. Look for a track record of reliability and minimal downtime.
 

Comparison Of Top Razorpay Alternative

Here’s a comparison table for the top 5 Razorpay competitors:

Popular Competitors of Razorpay

When looking for alternatives to Razorpay, it's important to consider other payment gateways that offer similar or better features to meet your business needs. Here are five top Razorpay alternatives:

1. Payflow by PayPal

Payflow is a globally recognized payment gateway which is known for its ease of use and extensive reach. It supports various payment methods, including credit/debit cards and PayPal accounts. PayPal offers both robust security features and buyer protection which makes it a trusted choice for both businesses and consumers. Additionally, its international reach makes it ideal for businesses with a global customer base.

Features:

• Supports credit/debit cards and PayPal accounts
• Robust security features
• Buyer protection
• Chargeback management
• 200+ countries supported
• Non-website payment solution
• Instant settlements- within 30 minutes

Pros: Trusted worldwide, easy integration, strong security
Cons: Higher transaction fees for international payments

2. PayU

PayU is a popular payment and one of the best razorpay alternatives in India. It is  known for its seamless integration and comprehensive features. It supports multiple payment methods such as credit/debit cards, net banking, UPI, and wallets. PayU offers advanced fraud detection, recurring billing, and detailed reporting tools, making it suitable for businesses of all sizes. Its user-friendly interface ensures a smooth transaction experience for customers.

Features:

• 150+ payment methods
• Supports international payments
• Instant refunds to your customer (within 5 minutes of request)
• Supports native OTP for one-click payments
• Recurring billing and subscription 
• APIs, super-light SDKs, plug and play partnerships

Pros: Wide range of payment methods, robust security, detailed analytics, Amazing customer support
Cons: No Cryptocurrency support, Setup can be complex for small businesses

3. Billdesk

Billdesk is a well-established payment gateway in India, offering a wide range of payment options, including credit/debit cards, net banking, and UPI. It is known for its reliability and secure transactions. Billdesk provides robust support for recurring payments and high-volume transactions, making it a preferred choice for utility payments and large enterprises. Its strong presence in the Indian market ensures extensive reach and support.

Features:

• 70+ currency support
• Supports credit/debit cards, net banking, and UPI
• Automated refund processing
• Guest checkout system
• Instant settlements within 3-5 days
• 4-way automated reconciliation

Pros: Easy to setup and use, security with robust encryption, fraud detection tools, and compliance with PCI DSS standards. 
Cons: Lacks store creation feature, No coupons and offer engine module

4. CCAvenue

CCAvenue is a leading payment gateway in India, offering a variety of payment options and strong customer support. It’s particularly popular among Indian businesses for its comprehensive services and local expertise.

Features:

• Supports credit/debit cards, net banking, UPI, and wallets
• Payment links
• Supports multiple currencies
• Allows EMI payments
• Branding and customization option
• Automated invoice generator

Pros: Easy to setup and use,  Instant settlements within T+3 business days 
Cons: Limited Global Reach

5. Cashfree

Cashfree is a payment gateway known for its quick settlements and many payment options, such as UPI, credit/debit cards, and net banking. It offers features like instant refunds, recurring payments, and a user-friendly dashboard. Cashfree's easy processing and strong focus on automation make it a great choice for e-commerce businesses looking to streamline their payment operations and improve cash flow.

Features:

• 120+ payment options
• Show items in 100+ foreign currencies
• Centralized control with advanced dashboard
• No-code integration
• Paperless and same day onboarding

Pros: Do instant customer refunds, Get access to your collections within 15 minutes, No setup, maintenance or hidden fees
Cons: No cryptocurrency support, Lacks store creation feature

What Type of Businesses is Looking for Alternatives of Razorpay?

Almost all the businesses whose revenue models are dependent on receiving payment online need a third-party payment gateway to run their operations. Here are the few companies looking for online payment processing platforms similar to Razorpay because of its limitations.

• eCommerce Vendors: Vendors selling products on eCommerce websites need solutions like Razorpay for their day-to-day transaction processing.
• B2B Businesses: B2B businesses across India have been rapidly integrating online payment methods due to the increase in competition, low-cost transactions, and easy reconciliation.
• SaaS Providers: Cloud computing companies accept payment from across the world for their services. Therefore, they are looking for substitutes for Razorpay, which can help them streamline their operations.
• Non-Profit Organizations: Many NGOs and INGOs are looking for a reliable payment gateway to receive donations and funds.
• BPOs/KPOs: Most of the BPOs and KPOs require an easier-to-use solution to receive payments from their customers through multiple payment methods.
• Startups: Startups and SMEs across India need an online payment gateway that is useful for their businesses and offers scalable features in the future.
• Service Providers/ Freelancers: Freelancers and service providers such as marketers, web designers, and writers need a simple payment portal to process online payments efficiently.