Top 10 Best Payment Gateways in India for eCommerce Businesses

Choose The Best Payment Gateway (India) that works for you

If you are running a startup or small business or a Brand, it could be quite difficult to choose a Payment Gateway for your eCommerce store.

Therefore our eCommerce experts at BrandLoom Consulting set down to identify the top 10 Best Payment gateways in India.

In this article, you will find the list of 10 best online payment gateways curated by our team based on their experience, you will also find insights on 5 Bonus Payment gateways also.

However, before you jump into the list, let us understand what is a payment gateway?

What is a Payment Gateway?

A Payment Gateway is an eCommerce application service that authorizes credit card or debit card payments for online businesses, online retailers, bricks and clicks, or traditional brick and mortar.

It facilitates the transfer of information between a payment portal (such as a website, mobile phone, or interactive voice response service) and the Front End Processor or acquiring bank.

Payment Gateway service automates the payment transaction between the shopper (buyer) and merchant (seller).

It is generally a third-party service that is actually a system of computer processes (that process, verify, and accept or decline credit card transactions) on behalf of the merchant through secure Internet connections.

The payment gateway infrastructure allows a merchant (seller) to accept credit, debit cards,s, and other forms of electronic payments.

List of Payment Gateways in India (Randomly Placed):

Here is our curated online payment gateway list.

1. Cashfree Payment Gateway

Cashfree Payments is one of India’s leading payments and API banking companies.

It provides 120+ payment modes such as Credit and Debit Cards (Visa, Mastercard, Rupay, AMEX, Diners), Net Banking (65+ banks), Paytm and other wallets, UPI via BHIM UPI, Google Pay, PhonePe, EMI options, Buy Now Pay Later.

It also supports NEFT, IMPS and PayPal.

In addition to this, they offer the widest range of PayLater and cardless EMI options such as ZestMoney, OlaMoney postpaid, etc. Cashfree Payments also supports international payments in more than 100 currencies across the globe.

Cashfree also offers an Instant Settlements feature that lets businesses access the funds within 15 minutes of payment capture, and to a destination account of their choice (virtual account or directly to their bank account).

It is best known for introducing advanced payment gateway features such as the Refunds suite that includes instant refunds, preauthorization on card payments, and Cashgram – Payout Links for COD order refunds.

CASHFREE PAYMENT GATEWAY OFFERS LOWEST TDR IN INDIA

It offers a feature-rich dashboard that can be used to create orders and collect payments along with the widest range of integrations – for both websites and mobile applications. Businesses can choose from a range of payment gateway integrations.

Cashfree has built ready-to-use eCommerce payment gateway plugins for platforms like Shopify, Woocommerce, Wix, Magento, OpenCart, etc.

• Type of Payment Gateway: Integrated Payment Gateway
• Cashfree Payments Gateway Charges in India
  1. Initial Setup Fees: ZERO
  2. Annual Maintenance Charges: ZERO
  3. Minimum Annual Business Requirement: ZERO
  4. Applicable Fee per Transaction:
     • Credit & Debit cards on Visa, Mastercard, Maestro, RuPay, 65+ net banking: Flat fee @ 1.90% + GST
     • Wallets: Paytm, Airtel Money, Freecharge, Mobikwik, Ola Money, Jiomoney: Flat fee @ 1.90% + GST per transaction.
     • UPI: Flat fee @ 1.90% + GST per transaction
     • International Credit Cards on Visa, Mastercard, and American Express: Flat fee @ 3.5% + Rs 7 per transaction
     • Taxes extra as applicable from time to time
• Domestic Cards and Internet Banking Options: Visa, Mastercard, Maestro, RuPay, and 65+ net banking
• International Payment / Credit Card Support: Supported by Visa, Mastercard and American Express. Paypal integration with Cashfree is available that helps you offer Paypal as a checkout option. Start accepting international payments from day one.
• Pay Later and EMI Options: Pay Later (Ola Money Postpaid, Lazy Pay, and ePayLater, ZestMoney and Flexmoney)
  EMI — Flexmoney, ZestMoney and multiple bank EMI options
• Recurring Payment or Subscription management — Collect payments for subscriptions via links or API. Customize subscription plans.
• Multi-Currency Support: 100+ foreign currencies supported. Other currencies are also configurable on request.
• Mobile App Payment Gateway Integration: Choose from the widest range – Android SDK, iOS SDK, Reach Native, Flutter SDK, Cordova SDK, Xamarin Android SDK and Xamarin iOS SDK.
• Settlement time: 24 hours (sell today and get paid tomorrow).
• Smart Analytics: Live transaction report, compare monthly collections and mode of payments, daily reporting of the settled & unsettled transactions
• Account activation: Go live within 24 hours of sign up. One of the few platforms that provide International payments activation from the first day itself. Start with easy to follow integration kits.
• Documentation required for payment gateway registration: Completely online process. Need only scanned copy of the cancelled cheque, PAN Card and address proof.
• Customer Support: Dedicated Account Manager is assigned to each account who stays as a single point of contact. Live chat support Monday-Saturday.
  Here are Cashfree Payments Contact Details: contact sales

Cashfree Payments is a payments and API banking company. It helps 1000,000+ businesses accept and send payments. You can use the Cashfree’s payment gateway to collect domestic and international payments on your e-store. Moreover, you can use their products for simplifying your payment needs.

• Subscriptions for managing recurring payments with options including emandate (NACH mandate).
• Auto-collect to reconcile payments by NEFT-IMPS-RTGS using Virtual Accounts and Virtual UPI IDs.
• Easy Split feature to split the commission with vendors.
• Payouts – API banking platform for automating bulk payments,
• Cashgram for releasing instant refunds to customers (even for cash on delivery orders) and paying users.
• Payouts Direct to help businesses connect all their current bank accounts and make bulk payments 24×7 instantly even on a bank holiday.
• Global Payouts – cross border payments platform that helps global businesses send money to India to their sellers, service providers and freelancers in India.
• Accounts – Banking-as-a-Service

2 PayU Payment Gateway Service:

PayU (formerly known as PayU Money) is one of the best payment gateways to accept online payments with minimal development effort, easy sign-up, and a quick onboarding process.

You can start accepting payments securely and seamlessly within your iOS, Android, or Windows app, within minutes, with our 100% online hassle-free onboarding process.

• Their Charges are:
  • Annual maintenance Charge: Zero.
  • Transaction Fee per Transaction: 2% + GST for each transaction. For American Express & Diners Cards, transaction fees = 3% + GST for international transactions & EMI payment options, there is a set-up fee that needs to be paid along with Annual Maintenance Charges (AMC). Also, the transaction rates are 3% + ₹6 for every transaction..

• Key Features of PayUMoney are
  • International Payment / Credit card Support: Supported
  • Domestic Credit cards supported: Visa/Mastercard/Diners/Amex credit Cards
  • Multi-Currency Support: Yes
  • Withdrawal Fees: Zero
  • Settlement days: T+2 days
  • Customer Support: Customer support always seems to be busy.
  • Documentation required: Extensive list of documents.
  • No of Days to start a transaction: 5-7 days
  • Supported eCommerce CMS Systems: All major CMS supported
  • Mobile App Integration: Android, Windows and iOS.
• PayU Payment Gateway India Contact Details: Call 0124-6624801; email [email protected]

3 Razorpay

Razorpay is the only payments solution in India that allows businesses to accept, process, and disburse payments with its product suite.

It gives you access to all payment modes including credit card, debit card, net banking, UPI, and popular wallets including JioMoney, Mobikwik, PayUmoney, Airtel Money, FreeCharge, Ola Money, and PayZapp.

Razorpay provides the highest level of tech integration at a reasonable price:

• Razorpay Payment Gateway service charges are:
  • Annual maintenance Charge: ZERO
  • Transaction Fee per Transaction: simple and transparent pricing plan which has no hidden fees: 2% per successful transaction; +1% for International cards, EMI and Amex; No setup fees; No Annual maintenance charges; GST applicable of 18% on the transaction fee.
• Key Features of Razorpay Payment gateway service are
  • International Payment / Credit card Support: International approval is a separate process and takes longer, which is subject to the bank’s approval.
  • Multi-Currency Support: Does not support
  • Withdrawal Fees: Zero
  • Settlement days: 3 days in your connected Bank account.
  • Customer Support: Chat Support and IVR is available 24/7.
  • Documentation required: You can find the documentation list here.
  • No of Days to start a transaction: Near to real-time activation. Subject to documents approval.
  • Supported eCommerce CMS System: All major ones such as WooCommerce, Magento, CS-Cart, Opencart, Shopify, WHCMS, WordPress, Arastta, Prestashop.
  • Mobile App Integration: Mobile SDK’s for Android and iOS via Cordova/Phonegap
• Razorpay Payment Gateway India Contact Details.

4 InstaMojo Payment Gateway

Instamojo Payment Gateway allows new merchants to create a merchant account instantly to collect online payments with ease with or without a website. Charges of Instamojo are quite reasonable.

• Instamojo Payment Gateway service charges are:
  • Annual maintenance Charge: ZERO. yes ZERO
  • Transaction Fee per Transaction: Flat fee @ 2% + Rs 3 per transaction
• Key Features of Instamojo Payment gateway service are
  • International Payment / Credit card Support: Not supported
  • Multi-Currency Support: Not supported. Only INR.
  • Withdrawal Fees: Zero
  • Settlement days: 3 days in your connected Bank account.
  • Customer Support: Their IVR system clearly says that they are closed over weekends. However, on weekdays, our call went unanswered.
  • Documentation required: Documentation list you can see after signing up with them.
  • No of Days to start a transaction: You can start receiving payment after simple signup with your email. Types of Credit Card Accepted:
  • Supported eCommerce CMS System: All major ones such as Magento, Prestashop, Opencart etc.
  • Mobile App Payment Gateway Integration: Not available as of now.
• InstaMojo Best Payment Gateway India Contact Details: Call on (+91)8880110011

5 PayPal Payment Gateway Service:

PayPal is a global payment platform available in 200+ countries across the world. PayPal claims to have processed 4 billion payments (including 1 billion mobile) in 2014. Over 173 million customers use Paypal on a regular basis.

That is the reason if you are expecting orders from international consumers, you have to have PayPal integrated into your eCommerce Store. PayPal supports more than 100 currencies with a fund withdrawal facility in your bank accounts in 57 currencies and holds balances in their PayPal accounts in 26 currencies.

In India, merchants primarily use PayPal to receive funds from foreign customers only as due to banking regulations an Indian company cannot accept Indian credit cards via Paypal.

• PayPal Payment gateway Service charges are:
  • Annual maintenance Charge: Free, Zero maintenance charges.
  • Transaction Fee per Transaction: 4.4% + US$0.30 + Currency conversions charges
• Key Features of PayPal Payment gateway service are:
  • International Payment / Credit card Support: PayPal can be used by an Indian merchant only for receiving international payments only. PayPal does not support or recognize Indian currency, therefore you need to choose an international currency as the base currency. What it means is that if somebody pays you in say Australian dollar through PayPal on your eCommerce store, PayPal will first convert that to US$ (with currency conversion charges). Therefore when you withdraw money from PayPal you will again pay currency conversion charges for conversion to Indian Rupee at your bank in India.
  • Multi-Currency Support: Paypal support over 100 currency globally and as a PayPal merchant you can keep your earnings in 57 currencies!
  • Withdrawal Fees: There are no withdrawal fees on PayPal. However, as you will be receiving money on a regular basis from PayPal (Through their Banker-CitiBank) you need to obtain proof of foreign inward remittances in the form of a certificate called “Foreign Inward Remittance Certificate or FIRC”. FIRC is a document that acts as a testimonial for all the inward remittances entering India. Most of the statutory authorities accept this document as proof that an individual or a business, such as a limited company, partnership firm, sole proprietorship firm, and others, has received payment in foreign currency from outside the country.
  • Settlement days: All payments received in your PayPal account will be auto-withdrawn to your local bank account on a daily basis.
  • Customer Support: PayPal has a great customer support system.
  • Documentation required: The documentation process is quite simple. It only takes a few minutes to start a PayPal merchant account. To do so you need to confirm your identity. To do so verify your PAN, add a local bank account, and a purpose code (The Purpose Codes have been introduced to identify the nature of the cross-border transaction payment made in compliance with regulatory requirements. Businesses are required to furnish the appropriate purpose codes from pre-filled dropdowns when they initiate a withdrawal from their PayPal account to their Indian bank accounts)  and confirm your email address. It is the easiest of the lot.

• No of Days to start a transaction: You can start receiving payment immediately after successful registration.
• Mobile App Payment Gateway Integration: iOS and Android.
• Supported eCommerce CMS Systems: Most of the popular ones are supported.
• PayPal best Payment Gateway India Contact Details: Toll free 18002123852.

6 PayKun Payment Gateway

PayKun is a payment gateway service provider that enables a safe and secure transaction between buyer and seller. There are numerous happy merchants registered and live today who have developed their business with the help of PayKun.

Any large, small, individual, trust, NGO, eCommerce, etc can easily register on PayKun and use the payment gateway for receiving online payments. The customers will get multiple payment options to make a payment on the PayKun checkout.

Key Features of PayKun Payment Gateway are:

• Setup cost: Zero
• Annual Maintenance Charges: Zero. No hidden charges
• Transaction Fee per Transaction:
  • Domestic: Flat 1.75% taxes as applicable
• Key Features of Paykun Payment gateway services:
  • Paperless, easy & fast on-boarding process
  • Easy & free integration with your website/application for all major platform
  • Compliant with the Payment Card Industry Data Security Standard (PCI DSS) v3.2.1 Level 1.
  • Payment retry option
  • Payment link option for single & multiple customers
  • Master payment link option (Customer can fill their amount and initiate transaction without any integration) (demo link)
  • Single click easy refund to the Customers (Partial refund option available)
  • Website/Application not mandatory (individual can receive online payment by creating payment link)
  • Powerful dashboard (Easy and User-friendly UI)
  • Personal dedicated assistance
  • Mobile Optimised design, Widest Payment choices including all wallets and UPI, Advanced UPI – Scan and Pay, Subscription Payments, Withdrawal gateway and more
  • Offers 120+ payment options with simple and lowest pricing.
    • Debit/Credit cards, Master Card, Visa, Diners Club
    • Net Banking
    • Wallets
    • UPI/BHIM
    • Single QR Code
• International Payment / Credit card Support:  No
• Multi-Currency Support: No
• Withdrawal Fees: None
• Settlement days: T + 1 to T + 3 working days (depending on business model and payment mode)
• Documentation required: Depends on the nature of business- business KYC and more
• No of Days to start the transaction: within an hour
• Paykun Best Payment Gateway India Contact Details: 1800-212-8070 (Mon to Fri – 10:00 am to 18:00 pm IST)

7 CCAvenue Payment Gateway:

CCAvenue is one of the largest payment gateway India, offering a wide range of payment options. It offers 200+ payment options inclusive of 6 credit cards such as Amex, JCB, Diners Club, Mastercard, Visa, and eZeClick. It also supports 27 major currencies, thus enabling you to serve customers in some major global markets out of India. CCAvenue also allows a Multilingual payment page in 18 major Indian and international languages.

• CCAvenue Payment gateway Service charges are:
  • Initial Setup Fee: Zero, yes Zero
  • Annual maintenance Charge for a Startup account: Rs 1200
  • Transaction Fee per Transaction: Variable fee below
    • Domestic Credit & Debit cards on Visa, Mastercard, Maestro RuPay: Flat fee @ 2%
    • Wallets: Freecharge, Mobikwik, OlaMoney, Jiomoney, Paytm, PayZapp, Jana Cash, SBI Buddy, The
    • Mobile Wallet: Flat fee @ 2%
    • IMPS & UPI: Flat fee @ 2%
    • International Credit Cards on Visa, Mastercard, American Express, JCB and Diners Club: Flat fee @ 3%
    • Taxes extra as applicable from time to time
• Key Features of CCAvenue payment Gateway are
  • International Payment / Credit card Support: Supported on CCAvenues. Your eCommerce store can represent your product pricing in any number of currencies. Your customers can check-out on the CCAvenue payment option page using their desired currency with Multi-Currency payment Gateway that supports 27 foreign currencies.
  • Multi-Currency Support: CCAvenue allows the collection of payments in 27 major foreign currencies and allow your customer to pay in the currency they know best. Currencies supported by CCAvenue Payment Gateway are:
    • Indian Rupee
    • Singapore Dollar
    • Pound Sterling
    • American Dollar
    • Omani Rial
    • Bahraini Dinar
    • UAE Dirham
    • Euro
    • Canadian Dollar
    • Swiss Franc
    • Baht
    • Sri Lankan Rupee
    • Malaysian Ringgit
    • Qatari Riyal
    • Hong Kong Dollar
    • Kuwaiti Dinar
    • Bangladesh Taka
    • New Zealand Dollar
    • Australian Dollar
    • Nepalese Rupee
    • Chinese Yuan Renminbi
    • Japanese Yen
    • Kenyan Shilling
    • Mauritius Rupee
    • Philippine Peso
    • Saudi Riyal
    • South African Rand
  • Withdrawal Fees: free. Domestic Friday and International Tuesday
  • Settlement days: CCAvenue settles payments on a weekly basis for all amounts over & above of Rs. 1000, which is the minimum amount required to be kept.
  • Customer Support: Their website claims 24x7x365 days of Voice, Chat and email support. However their chat was off on weekend.  IVR system clearly says that they are closed over weekends. However, their sales and technical team responds very well and also coordinates well internally.
  • Documentation required: List of documents required by CCAvenues for Online Payment Gateway is here.
  • No of Days to start a transaction: Though CCAvenue claims on their website that all new merchant accounts get activated within 1 hour of registration, in practice, it will take anything between 3 to 6 days. CCAvenue will approve your website and will ask for physical copies of documents before you start transacting through their payment gateway.
  • Types of Credit Card Accepted: 6 credit cards such as Amex, JCB, Diners Club, Mastercard, Visa and eZeClick are accepted.
  • Supported eCommerce CMS System: CCAvenue has developed API’s for most of the shopping carts such as Buildabazaar, Cubecart, Drupal, Interspire, Joomla, Magento, Magento Go, Martjack, Moodle, NopCommerce, Opencart, OsCommerce, PrestaShop, VirtueMart, WHMCS, WordPress, ZenCart.
  • Mobile App Payment Gateway Integration: Android, iOS and Windows.
• CCAvenues Payment Gateway India Contact Details