Go cashless with these top payment gateways in India

With India moving towards being a cashless economy, online payment methods are becoming popular than ever. Integrating the best payment gateway will do a lot more good to grow your company. Let's take a look at some of the top payment gateways in India and what they have to offer their customers.

22nd Jun 2019
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Are you running an exciting startup or perhaps building a robust and customer-centric brand?


If yes, then you would undoubtedly run into the challenge of finding the best payment gateway providers in India.


On the other hand, maybe you are unhappy and unsatisfied with your current gateway service provider, and are looking for the next best and cheap payment gateway in India who doesn’t compromise on quality, performance, and the assured hassle-free user experience for your customers. Then, you are in the right place.


payment gateway in india

Before we present you the payment gateway list, we want to assure you that we don’t favour any specific gateway. We intend to do all the legwork and present you with the findings in the form of a list, saving you time, money, and other resources.


We have considered seven parameters to list down information on the payment gateway choices. They are charges applicable, ease of documentation, activation period, types of ecommerce systems supported, settlement period, availability of mobile apps, and others.


So, without further delay, let us get into the list of top payment gateways in India .


Razorpay


Razorpay is one of the most popular payments solutions in India. It offers its customers to accept, process, and disburse payments seamlessly within its product suite. In fact, Razorpay offers the highest levels of customisation with flexible integration at a very inviting price.


Key features


Fees

Razorpay charges two percent per transaction for Indian Debit and Credit Cards, Net banking, UPI, and Indian Wallets.

It charges three percent per transaction for International Cards, EMI, etc.

It offers its services with zero setup fee, and an annual maintenance fee.


Documentation

It offers a hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and address proof.


Payment support

It supports all international payment and popular credit cards such as Amex, Diners, Discover, Maestro, Master, and Visa.


Multi-currency support

Razorpay is supports multiple currencies from over a 100 countries.


Settlement period

Its settlement period is three days.


Activation period

You can go live in real-time. However, on its website, it has a condition which says the activation depends on documentation verification.


Ecommerce CMS Support

It supports all popular ecommerce CMS System such as WordPress, WooCommerce, WHCMS, Prestashop, Shopify, Opencart, Magento, CS-Cart, and Arastta.


Mobile app support

It offers easy mobile app integration, and is available on both Android and iOS.


Instamojo


Instamojo is quite popular in India and the reason for it is interesting too. Instamojo is the only service provider that allows its customers to register with them even if the customers don’t have a website. Following are the more specific information as to why they are loved by many satisfied customers.


Key features


Fees

Two percent + Rs 3 per transaction for Indian Debit and Credit Cards, Net banking, UPI, and Indian Wallets.

Five percent + Rs 3 per transaction for digital products and files.

They charge zero setup fee, and an annual maintenance fee.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Payment and multi-currency support

They do not support international payment, credit card, and multi-currency support yet.


Settlement period

They have a settlement period of three days.


Activation period

You can go live with the services instantly unlike most of the competition.


Ecommerce CMS support

They support all popular ecommerce CMS systems.


App support

They don’t support their services on an app for any platform at the moment.


Paytm payment gateway




PayTM is one of the most recognised brands in India, especially after demonetisation. Now that they have forayed into plastic money with credit cards, they are penetrating more into our economy.


Key features of Paytm


Fees

Paytm charges 1.75 percent + GST per transaction for Indian Debit and Credit Cards, Net banking, UPI, and Indian Wallets.

Both the initial setup fee and annual maintenance charges are Rs 5,000, respectively. But due to a promotional offer, they are being waved off at the moment.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Payment and multi-currency support

They support all international payment and popular credit cards such as Amex, Diners, Discover, Maestro, Master, and Visa. They aren’t supporting multi-currency transactions yet.


Settlement period

The settlement period is two to three days.


Activation period

You can go live in two working days after you have created an account and submitted your documents.


Ecommerce CMS support

They support a variety of systems and carting kits such as Zencart, WordPress, WHMCS, VirtueMart, ViArt, Ubercart, Prestashop, OSCommerce, Opencart, Nopcommerce, Moodle, Magento, Joomla Virtue Mart, Gravity forms, Easy digital, Drupal Commerce, and CScart.


Advance support

They provide integration kits in PHP, ASP.NET, Ruby On Rails, JSP, VB.NET, and OSCommerce


App support

They offer easy mobile app integration, and are available on both Android and iOS.


PayPal


PayPal is one of the most popular and well-known global payments platform available in more than 200 countries across the world. According to PayPal, they reached more than four billion payments, of which 1/4th is from mobile alone as early as in 2014 itself, and since then they have constantly surpassed their own achievements. Due to its worldwide presence, PayPal is one of the most preferred payment gateways for international transactions.


Key features


Fees

Paypal charges 2.5 percent + Rs 3 per transaction for Indian Debit and Credit Cards, Net banking, UPI and Indian Wallets.

3.4 percent to 4.4 percent per transaction for international cards, EMI, etc.

They charge zero setup fee, and an annual maintenance fee.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and address proof.


Payment and multi-currency support

They support and are known for international payment and all major and popular credit cards. In India, they are used by merchants to receive money from international customers. They support most of the currencies as they are known and operate worldwide.


Settlement period

The settlement period is 24 hours. The amount will be automatically transferred from the PayPal account into the local bank account, in the local currency.


Activation period

You can go live soon after you successfully register. It has one of the shortest activation periods.


Ecommerce CMS support

They support all popular ecommerce CMS systems.


App support

They offer easy mobile app integration and are available for both Android and iOS.


PayUmoney




PayUmoney is one of the popular payment gateways in India because they have been in the market for a longer duration, and have a decent customer base simply because they offer every feature their competition offers and couple it with a hassle-free customer service experience.


Key features


Fees

Two percent + GST per transaction for Indian Debit and Credit Cards, Net banking, UPI, and Indian Wallets.

Three percent + GST per transaction for International Cards, EMI, etc.

They offer their services with zero setup fee, and an annual maintenance fee.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and address proof.


Payment and multi-currency support

They support all international payment and popular credit cards such as Amex, Diners, Discover, Maestro, Master, and Visa.


Settlement period

Their settlement period is three days.


Activation period

You can go live in five minutes. However, on their website, they have a condition which says the activation depends on documentation verification.


Ecommerce CMS support

They support all popular ecommerce CMS System such as Wordpress, WooCommerce, WHCMS, Prestashop, Shopify, Opencart, Magento, CS Cart, and Arastta.


App support

They offer easy mobile app integration and are available on both Android and iOS.


Cashfree


Cashfre

If you are looking for bulk payouts, hands down, Cashfree is the only one available in India. It offers the widest range of payment options for Visa, Master, Maestro, Rupay, Amex cards, over 70 Netbanking options, PayTM, and mobile wallets like Mobikwik, Freecharge, and Airtel. It also supports UPI, PayPal, NEFT, and IMPS. They have one of the lowest TDR charges.


Key features


Fees

Cashfree charges 1.75 percent per transaction for Indian Debit and Credit Cards, Net banking, UPI and Indian Wallets.

3.5 percent + Rs 7 Per transaction for International Cards, EMI, etc.

The integrated payment gateway comes with zero initial setup fee, annual maintenance, and minimum annual business requirement.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Activation period

You can go live within 24 hours of sign up. They are also one of the few platforms that provide international payments right from the first day.


Ecommerce CMS support

They support most popular ecommerce CMS systems with a ready-to-use-integration system such as Magento, OpenCart, Prestashop, Shopify India, Storehippo, and WooCommerce India.


Settlement period

They settlement period is just 24 hours.


App support

They offer easy mobile app integration and are available on both Android and iOS. They also offer actionable, insightful, and auto-generated smart analytics reports.


CCAvenue


payment gateway

If you are searching for multi-lingual support for both international and Indian regional languages, then CCAvenue is the best choice. Apart from this, they are also one of the largest payment gateways in India. They offer a wide range of payment options, which includes over 200 payment options inclusive of popular credit cards such as Amex, Diners Club, eZeClick, JCB, Mastercard, and Visa.


Key features


Fees

CCAvenue charges two percent per transaction for Indian Debit and Credit Cards, Net banking, UPI and Indian Wallets.

It charges three percent per transaction for International Cards, EMI, etc.

The service has zero initial setup fee, but they do charge Rs 1,200 for annual maintenance for a startup account.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Settlement period

The settlement period is a week for all amounts greater than Rs 1,000, which is the minimum amount on the transaction.


Activation period

CCAvenue claims that you can go live within an hour of registration. But practically, it takes around two to three days to go live.


Ecommerce CMS support

They support many ecommerce CMS systems such as Buildabazaar, Cubecart, Interspire, Drupal, Magento, Joomla, Magento Go, Moodle, Martjack, OsCommerce, NopCommerce, Opencart, WordPress, PrestaShop, VirtueMart, WHMCS, and ZenCart.


App support

They offer easy mobile app integration, and are available for both Android and iOS.


EBS


EBS or E-Billing Solutions claims to be the first Indian merchant account provider to achieve the PCI DSS 3.0 standards of compliance. Moving a step further, EBS is also certified ISO 27001 - 2013 standard, adhering to the security and process excellence which is regularly audited. Hence you can safely assume they take security with the highest priority, and are one with the least security risks for their customers.


Key features


Fees

EBS charges two percent per transaction for Indian Debit and Credit Cards, Net banking, UPI and Indian Wallets.

It charges three percent per transaction for International Cards, EMI, etc.

EBS payment gateway service charges zero initial setup fees when the special promotion is applied. Else, it is charged at Rs 9,599. Also, the annual maintenance charge is a minimum of Rs 2,400, which is applicable annually and varies depending on the plan you pick.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Payment and multi-currency support

They support international payment and credit cards such as Visa, Master Card, American Express, JCB and Diners cards issued around the world and 11 major currencies.


Settlement period

The settlement period is within two to three days.


Activation period

You can go live within 24 hours of activating the gateway account.


Ecommerce CMS Support

They support many ecommerce CMS Systems such as Buildabazaar, Cubecart, Interspire, Drupal, Magento, Joomla, Magento Go, Moodle, Martjack, OsCommerce, NopCommerce, Opencart, WordPress, PrestaShop, VirtueMart, WHMCS, and ZenCart.


App support

They offer easy mobile app integration and are available for both Android and iOS.


Fonepaisa


Although all payment gateways these days make sure they have a seamless user experience between desktop and mobile apps, Fonepaisa is designed exclusively with ‘mobile first’ design philosophy thus bringing the world of mobile and payments together.


Key features


Fees

You can negotiate the setup fee and annual maintenance fee, which is unique when compared with its competition.


Documentation

They offer hassle-free documentation process, which is completely online. You need only the scanned copy of the cancelled cheque, PAN Card, and an address proof.


Advanced support

FonePaisa payment gateway services have a mobile optimised design, various payment choices including all popular wallets and UPI, advanced UPI features like scan and pay.


Payment and multi-currency support

Similar to competition, they support all international payments, all the major credit cards, and multi-currencies.


Settlement period

The settlement period is two days.


Activation period

You can go live with the transactions in two working days after creating your account.


Ecommerce CMS support

They support popular ecommerce CMS systems such as Wordpress, WHCMS, PrestaShop, Opencart, Magento, and Joomla.


App support

They offer easy mobile app integration, and are available for both Android and iOS.


So, there you go. We have given you a list of payment gateway options, which we feel are the cream of the crop from the various choices available in the Indian market. Most of them have their setup fee, annual maintenance fees, either zero or waved off. Most of them support international transactions with multiple currencies, but some don’t. Few are more mobile-oriented than others. Few have shorter settlement and activation periods.


Most of them support all the popular ecommerce platform CMS systems, and few of them don’t have app support, but a majority of them have. Almost all have a hassle-free documentation process. So, it is hard for us to pick one or recommend one for you.


You know your business better than anyone. You know the operations, expectations, and budget information. For instance, if your business is mobile-focused, then FonePaisa seems to be the best pick. If your business deals with a lot of international transactions in multiple currencies, PayPal appears to be the best pick, or if your business is domestically focused and deals with INR only, then PayTM seems to be the best pick. So, you can go through the list and pick one which suits your needs the best.



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Authors
Sanjay Shenoy

Sanjay Shenoy is the co-founder of PixelTrack, a digital marketing training and consulting company. He is also trying to put the marketing back into digital marketing through his blog: Sanjay Shenoy. Content is his forte and has left his mark at prominent startups like Thrillophilia and Explara in the past. He is also a TEDx speaker, author, a corporate trainer with clients like Mercedes Benz India and Nikon Lenswear. In his free time, he likes to travel, juggle, learn music, play football and pet his dog, Max. 

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