Top 10 Payment Gateways in India

Choosing the right payment gateway is crucial for businesses in India to accept online payments smoothly and securely. Payment gateways like PayU, Razorpay, and PayPal help bridge the gap between customers and merchants, ensuring safe and efficient transactions.

With the rise in online shopping and digital payments, understanding the best options available can significantly impact a business’s success. Let’s see some of the most widely used payment portals that are used in India. These include PayU, Paytm, CCavenue, Razorpay, and more. Let’s learn in detail about these top 10 payment gateways in India.

1. PayU

PayU is a leading payment gateway India, known for its simple integration process and diverse payment options. A unique feature of PayU is its PayU Biz tool, which offers advanced analytics and real-time data insights to help businesses optimize their payment processes. PayU also provides a seamless checkout experience, enhancing customer satisfaction.

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Why We Chose It PayU

• Ease of Integration: PayU offers simple integration options, making it easy for businesses to start accepting payments quickly.
• Multiple Payment Methods: Supports various payment options, including credit/debit cards, net banking, and UPI.
• Security Features: Provides advanced security features to protect transactions and prevent fraud.
• Merchant Support: Offers excellent customer support for merchants to help resolve any issues.

PayU Payment Gateway Specification

Pricing and other fees	Setting-up fee: Free  Transactional fee: 2% along with GST/transaction Annual fee: Free
Accepted payment methods	Supports multiple payment methods including UPI, EMI, cards, net banking, Buy Now Pay Later, wallets, etc.
Supported currencies	Indian currency plus 100+ international currencies
Approvals and onboarding time	1 to 2 days
eCommerce platform integration	Completely customizable with all types of eCommerce CMS
Pros	Supports various payment methods including credit/debit cards, net banking, and UPI. Simple integration process with popular e-commerce platforms. High-security standards with PCI-DSS compliance.
Cons	Higher transaction fees compared to some competitors. Payouts can take longer, sometimes up to three days.

2. Razorpay Payment Gateway

Razorpay stands out for its comprehensive suite of payment solutions, including the RazorpayX platform, which offers innovative banking services like automated payouts and smart reconciliation. Its user-friendly dashboard allows businesses to manage all their transactions in one place, making it a favourite among startups and large enterprises.

Why We Chose It Razorpay Payment Gateway?

• Razorpay has an intuitive interface, making it easy for both merchants and customers to use.
• Offers a wide range of payment options and value-added services like recurring payments.
• Implements robust security measures to ensure safe transactions.
• Provides fast and reliable payment settlements for businesses.

Razorpay Specification

Pricing and other fees	Setting-up Fee: 2% platform fee for reports, flash checkout, dashboard, etc. Annual fee: 2% – Indian consumers 3% – International consumers
Accepted payment methods	UPI, UPI IDs, EMI, RTGS, NEFT, IMPS, Credit/Debit cards, corporate cards, virtual accounts, cardless, and international cards
Supported currencies	Multiple international currencies like AUD, INR, USD, GBP, and more.
Approvals and onboarding time	4 to 5 days
eCommerce platform integration	Integrates well with all major CMS eCommerce platforms with integrated Java SDK.
Pros	Developer-friendly APIs and plugins for seamless integration. Quick account setup and activation. Supports subscription payments, smart routing, and real-time tracking.
Cons	Some users report delays in getting support. Occasional technical issues affecting transaction success rates.

3. Skrill

Skrill is a great choice for online transactions because it offers secure, quick, and easy money transfers. It supports various currencies, making it ideal for international users. Additionally, Skrill provides VIP rewards like lower fees and special offers for Gold and Silver members, making it even more desirable.

Why We Chose It Skrill?

• Skrill allows you to send and receive money in over 40 different currencies, making it a versatile option for international transactions.
• Skrill provides a secure online payment method without sharing your bank details. You only need your email and Skrill password for transactions.
• With Skrill, you can transfer money instantly and access your funds anytime through their easy-to-use mobile app.
• By joining Skrill’s VIP program, you can enjoy lower fees, higher limits, dedicated support, and exclusive offers.

Skrill Payment Gateway Specification

Pricing and other fees	Setting-up fee‍: Annual fee‍: Transaction fees:
Accepted payment methods	Paysafecash, Rapid Transfer, Klarna, Debit and Credit Cards (Visa, Mastercard), and Bank Transfers
Supported currencies	40+ different currencies including USD, GBP, EUR, and more.
Approvals and onboarding time	1 to 2 business days
eCommerce platform integration	PrestaShop, Magento, Shopify, and WooCommerce
Pros	Instant transfers and quick access to funds. Lower fees and higher limits for VIP members.
Cons	High currency conversion and withdrawal fees. Can be lengthy and cumbersome.

4. Payflow by PayPal

Payflow is a globally recognized payment gateway that offers international payment processing with support for multiple currencies. Its standout feature is the PayPal One Touch service, which allows customers to make payments without repeatedly entering their login information, providing a faster and more convenient checkout experience. Payflow’s buyer and seller protection policies add an extra layer of security.

Why We Chose PayPal Payment Gateway (Payflow)

• Ideal for businesses looking to accept payments from customers worldwide.
• Known for its strong reputation and reliability in online payments.
• Offers protection for buyers, enhancing trust and security.
• Supports multiple currencies and payment methods.

Payflow Specification

Pricing and other fees	Setting-up fee: Free Annual fee: Free Transactional fee: 5% and 3 INR/transaction
Accepted payment methods	Digital Wallets, Netbanking, Visa, Cash Cards, American Express, MasterCard, and Discover
Supported currencies	Supports 56 currencies including USD, INR, CAD, GBP, and more.
Approvals and onboarding time	A merchant needs to approve the request within 30 days of PayPal’s approval.
eCommerce platform integration	Integrates with all types of eCommerce CMS platforms.
Pros	Highly customizable payment solutions. Strong fraud prevention tools.
Cons	Can be challenging to integrate for non-technical users. Higher transaction fees, especially for international payments.

5. CCAvenue

CCAvenue is one of the most versatile payment gateways in India, supporting over 200 payment options, including cryptocurrencies. Its CCAvenue S.N.I.P. (Social Network In-stream Payments) feature allows businesses to accept payments directly through social media platforms. This innovative approach helps businesses reach customers where they spend a lot of their time.

Why We Chose It CCAvenue

• Supports over 200 payment options, making it versatile for businesses.
• Implements advanced security measures to protect transactions.
• Offers customizable payment solutions to fit business needs.
• Provides round-the-clock customer support for merchants.

CCAvenue Specification

Pricing and other fees	Setting-up fee: Nil Annual fee: INR 1200 Transactional fee: 2% flat fee on Domestic Credit/Debit cards for Maestro, Visa, RuPay, etc. 2% flat fee on mobile wallet 2% flat fee on UPI & IMPS 3% flat fee on international credit cards on Mastercard, Visa, JCB, Diners Club, and American Express Taxes (as and when required)
Accepted payment methods	Freecharge, SBI Buddy, Jiomoney, MasterCard, Visa, Jana Cash, RuPay, Maestro Mobikwik, OlaMoney, Paytm, PayZapp, etc.
Supported currencies	27+ international currencies including INR, Euro, UAE Dirham, USD, Baht, Yen, Taka, Yuan, etc.
Approvals and onboarding time	3 to 6 days
eCommerce platform integration	Joomla, Magento, Moodle, Cubecart, WordPress, ZenCart, WHMCS, Drupal, etc.
Pros	PCI-DSS compliance and advanced fraud detection. Offers customizable checkout pages.
Cons	Interface can be outdated and not user-friendly. Mixed reviews regarding support quality.

6. PayTM Payment Gateway

PayTM is India’s best payment gateway, widely used for its digital wallet and extensive merchant network. A unique feature of PayTM is its integration with the PayTM Mall, allowing merchants to sell their products on a popular e-commerce platform. PayTM also offers a loyalty program where users can earn cashback and rewards, on repeated transactions.

Why We Chose PayTM Payment Gateway

• Widely used and trusted by millions of users in India.
• Offers a complete payment ecosystem, including wallet and bank services.
• Ensures fast payment settlements for businesses.
• Easy to integrate with various platforms and applications.

PayTM Payment Gateway Specification

Pricing and other fees	Setting-Up fee: Nil Annual fee: Nil Transactional fee: 18% GST + Net banking: 1.80% PayTM Wallets: 1.55% Credit Cards: 1.85% AMEX/International: 2.65% Debit Cards: 0.4%
Accepted payment methods	UPI, NetBanking, Debit/Credit Card, AMEX/International
Supported currencies	All currencies
Approvals and onboarding time	Immediately after KYC completion
eCommerce platform integration	Ideally Magento, however, supports all eCommerce platforms
Pros	Frequent cashback and discount offer. Offers a range of services including wallet, bank, and payments.
Cons	Higher fees for certain types of transactions. Reports of slow response times from support.

7. Next-Gen Payment Gateway

Next-Gen Payment Gateway rebranded from EBS or E-Billing Solutions, is known for its strong legacy and reliability. Its unique Smart Routing feature ensures optimal transaction success rates by automatically selecting each transaction’s best-performing bank or payment processor. This results in higher approval rates and smoother payment experiences.

Why We Chose It

• Long-standing reputation in the Indian payment gateway market.
• Supports a variety of payment methods.
• Provides secure transaction processing with advanced security protocols.
• Known for its reliability and consistent performance.

Next-Gen Payment Gateway Specifications

Pricing and other fees	Setting-Up fee: Nil Annual fee: 2% for any transaction with Domestic Credit/Debit cards and Net banking if you have the Starter Pack. 3% if you pay with Amex, ezeClick, JCB, Diners, Wallets, and Cash cards. 0.3% additional TDR on Axis Bank, Kotak Bank, and HDFC Bank transactions INR 7 is charged for fraud management on international transactions. Transactional fee: 18% GST
Accepted payment methods	100+ payment methods with EMI and Wallet
Supported currencies	INR + 26 foreign currencies
Approvals and onboarding time	1 to 2 days
eCommerce platform integration	19 different CMSs including Shopify, Magento, WooCommerce, OpenCart, etc.
Pros	Offers high customization for merchants. Provides detailed analytics and reporting.
Cons	Can be complex to integrate. Higher costs compared to traditional gateways.

8. Easebuzz

Easebuzz is the best payment gateway in India for small business. It offers features that specifically cater to their needs. One standout feature is its Subscription Management service, which allows businesses to handle recurring payments effortlessly. Easebuzz also provides customizable payment pages, enabling businesses to maintain their brand identity throughout the payment process.

Why We Chose Easebuzz

• Tailored for small and medium-sized enterprises with specific needs.
• Easy to integrate with existing business systems.
• Offers cost-effective payment processing solutions.
• Provides good customer support for businesses.

Easebuzz Specification

Pricing and other fees	Setting-Up fee: Zero Annual fee: Zero
Accepted payment methods	Netbanking, debit card, credit card, etc.
Supported currencies	Domestic currency only
Approvals and onboarding time	5 to 10 minutes
eCommerce platform integration	Easy PnP CMS-agnostic
Pros	Good customer support with quick resolution times. Easy to set up and use.
Cons	Lacks some advanced features offered by competitors. Is not suitable for very large businesses.

9. Mobikwik

Mobikwik offers a unique combination of a digital wallet and payment gateway services, making it a versatile choice for businesses. Its SuperCash loyalty program rewards customers with cashback on transactions, driving customer retention. Mobikwik’s wide acceptance network across online and offline merchants makes it a convenient payment solution for users.

Why We Chose Mobikwik

• Seamlessly integrates with Mobikwik’s popular digital wallet.
• Accepted by many merchants and customers across India.
• Ensures quick and efficient transaction processing.
• Implements strong security measures to protect user data.

Mobikwik Payment Gateway Specification

Pricing and other fees	Annual fee: Negotiable Transaction fee: Negotiable
Accepted payment methods	All Indian & International Mastercards, VISA, Discover & Diner’s cards
Supported currencies	INR only
Approvals and onboarding time	1 to 2 days
eCommerce platform integration	XCart, WordPress, Zencart, CScart, OSCommerce, Cubecart, etc.
Pros	Frequent promotional offers. Intuitive and easy-to-use interface.
Cons	Primarily focused on the Indian market. Mixed reviews on support quality and response times.

10. Stripe

Stripe is known for its developer-centric approach, offering a highly customizable API that allows businesses to build tailored payment solutions. Its Stripe Connect feature supports marketplace and platform businesses by enabling seamless payments between buyers and sellers. Stripe also provides advanced machine learning fraud detection, ensuring secure transactions.

Why We Chose Stripe

• Ideal for businesses with international customers.
• Known for its robust API and ease of integration.
• Offers a wide range of payment processing services.
• Provides top-notch security features to ensure safe transactions.

Stripe Specification

Pricing and other fees	Annual fees: Nil Transactional fees: Domestic debit/credit cards: 2% International pay per transaction: 3% American Express issued out of India: 3.5% International cards having foreign currency presentment: 4.3% Currency conversion: An extra 2%
Accepted payment methods	Cards, bank debits, digital wallets, bank redirects, etc.
Supported currencies	INR and other major foreign currencies
Approvals and onboarding time	Net Banking, UPI, and Wallets
eCommerce platform integration	WooCommerce, Java, Python, Android, PHP, Codeva, Flutter, iPhone, .Net, Magento 1.0, 2.0, Prestashop, Open Cart 1.0,2.0,2.3,3.0
Pros	Excellent API and documentation for easy integration. Clear and straightforward pricing structure.
Cons	Limited support options and sometimes slow response. Can be overwhelming for small businesses without technical expertise.

How to Select a Payment Gateway for Your Business?

When choosing the right kind of payment gateway for your business, it is important to completely understand your business first. This would need you to identify your business requirements. Also, if you need a gateway that supports multiple payment methods like credit cards, debit cards, UPI, etc. Once done, make a list of features you want in your desired payment gateway and start exploring different options.

 Some of the factors that you would consider making the best decision include:

• Easy Integration: Choose a gateway that is easy to integrate with your website or app. Some gateways offer plugins for popular eCommerce platforms like Shopify, WooCommerce, and Magento, making the process simpler.
• Charges: Look at setup fees, transaction fees, and any other hidden charges. Compare different gateways to see which one fits your budget while providing the needed features.
• Security: Ensure the payment gateway you choose has strong security features. Look for gateways that are PCI-DSS compliant, which means they follow strict security standards to protect customer data.
• Customer Support: Look for gateways that offer 24/7 support through various channels like chat, email, or phone.
• Customer Reviews: Read reviews from other businesses to see their experiences. A gateway with positive feedback and a good track record is often a safe choice.
• Support for International Payments: If you plan to sell products or services internationally, ensure the gateway supports multiple currencies and international transactions.
• User Experience: The payment process should be quick and smooth for customers. A complicated or slow process might lead to cart abandonment. Choose a gateway known for providing a seamless checkout experience.

Key Takeaways

For any business, choosing the right kind of payment gateway software becomes the most important thing to ensure secure and smooth online transactions. Popular options like Razorpay, PayPal, and PayU offer a range of features including robust security, multi-payment options, easy integration, and more. Each gateway provides unique advantages like Razorpay’s comprehensive suite of payment solutions, PayU’s advanced analytics, and PayPal’s international reach. Understanding these features can help businesses select the most suitable gateway to enhance customer satisfaction and streamline their payment processes.