With the rise of digitalization and over the internet selling and buying, people all over the world have been getting acquainted with it. Some have become extremely tech-savvy with minimal unavoidable physical dealings and many are still totally relying on the physical part of the trading world. Those who know would definitely vouch to the fact that internet payments have made life way too fast, easy, and secured too. Well, of course, it requires some habit of it, to get comfortable with its usage. But if we make it a part of our routine, it eventually becomes a way of life.

One way or the other, you need to make your business ready and further advanced to keep up with the customer expectations. Whether it is your startup or a full-fledged running business, you need to make sure you have the online payment system set up on your Website or Application. It is always the best to use an ideal payment gateway to facilitate your customer to make the payments online. The best payment gateway should be decided on the basis of the following features:

• It is highly safe and secured for the transfer of the payments
• It is affordable and cost-effective payment gateways
• It provides major and multiple payment method options to the customer
• It supports all major platforms with readily available Plugins and SDKs
• It is easy to integrate with the website and app
• It can be used to collect the payment without website or app too, with the help of the payment links
• Active and responsive humane support services
• No extra fees and unnecessary charges levied.

In no specific order, this article presents five major payment gateway service providers in India, which are considered the best and popular for the online payment collection. There is no specific preference and is only for the purpose of providing all the information and the comparison in one place.

Choosing the right payment gateway for your new business or for the purpose of switching to a better payment gateway for your existing business, there are certain features of the payment gateway to be considered. As discussed above the essential qualities and the comparison has been presented in terms of - Pricing Plans, Payment options available, Onboarding Process, International Gateway, Settlement Process, Integration Services, and Customer Support.

With an attempt to include the majority of the information, here are the five payment gateway options of India (in random order).

PayKun

PayKun has taken its place among the top payment gateways of India in a short span of time. It provides a smooth online payment collection experience in the easiest, secure, and efficient way. The businesses and customers are happy alike due to its responsive support services and the easy checkout process. It is PCI DSS Compliant and so fully secured and also abiding by all the required rules and regulations of RBI. If you do not have a website you can use its Payment links or Master links

Fees 

No Set-Up Fees or Maintenance Charges

Zero Hidden Charges

Free Integration Help

Domestic Pricing Plan - Flat 1.75 % on Transaction Amount + GST 

International Pricing Plan - Flat 3.00% on Transaction Amount + GST

Payment options

120+ payment options are supported on PayKun as under:

Debit/Credit cards, Master Card, Visa, Diners Club, Amex

80+ Net Banking

Wallets

UPI (BHIM, Paytm, Phonepe, Whatsapp, Google pay and others)

Single QR Code (Bhim, Paytm, Phonepe, Whatsapp, Google pay)

Onboarding Process

It is very easy and fast to register with PayKun. Basic online documents are to be uploaded with no requirement of the hard copies. The Scanned color copy of PAN Card, ID proof and Address Proof along with a Bank Document like Canceled Cheque or Bank Passbook Frontpage is the primary requirement. Business Document Options are provided as per the registered business model. Individuals can also register with the minimum document requirement.

International Gateway

It provides affordable international services too and supports multiple currencies for international customers to make the payment.

Settlement Process

PayKun has fast settlement options available. The settlements are credited in the transaction date plus one, two, or three working days. 

Integration Services

It has seamless, easy, and ready to integrate Plugins and SDKs. It supports all the major platforms for websites and applications like PHP, Magento, Android, iOS, WordPress, Ruby, Python, .Net, Node JS, Java, WHMCS, Prestashop, Opencart, etc. The technical documentation and integration kits are available for free online.

Support 

PayKun provides call, email, and chats support mediums any kind of assistance, query, issues, or concerns for both the merchants as well their customers. They have dedicated teams for all types of support required like general, technical, sales, etc.

Razorpay

Razorpay provides seamless online payment acceptance services. It facilitates easy integration and a smooth checkout process. The online payment transfer is safe and secured. It is PCI DSS compliant making your funds and data safe and secure. 

Fees

No Set-Up Fees or Maintenance Charges

Domestic Pricing Plan - 2.00 % on Transaction Amount + GST 

International Pricing Plan - 3.00% on Transaction Amount + GST

Payment options

It supports multiple payment methods including UPI, Bharat QR, All major debit and credit cards, 50+ Netbanking Options, Mobile Wallets, etc.

Onboarding Process

It provides an online registration with all the online documents including the organization address proof, business proof, and website details apart from the basic KYC.

International Gateway

It supports international payments acceptance in multiple currencies available with all major international cards supported. It also provides the option of Payment Links in case of no website or application.

Settlement Process

It provides the settlement in two to three working days depending upon the business model and risk factors attached.

Integration Services

Razorpay makes the integration easy with its ready integration kits available online. It supports WordPress, WooCommerce, WHCMS, Prestashop, Shopify, Opencart, Magento, CS-Cart, Android and iOS, etc.

Support 

It has call support and robotic chat support too.

Instamojo

Instamojo is a very popular payment gateway in India. It provides a seamless checkout experience with easy integration and also the payment links feature. The following features would provide you with an idea of its overall services and other aspects.

Fees

No Set-Up Fees or Maintenance Charges

Domestic Pricing Plan - 2.00 % + Rs 3 on Transaction Amount + GST 

Digital products and files - 5.00 % + Rs 3 on Transaction Amount + GST 

International Pricing Plan -  3% + Rs.3 on Transaction Amount + GST 

Payment options

100+ Payments Modes are supported including UPI, All major debit and credit cards, Netbanking Options, Mobile Wallets, etc. It provides free NEFT/ RTGS/ Bank Transfer.

Onboarding Process

It provides immediate activation of the account with the online documentation of the scanned copy of the canceled cheque, PAN Card, and address proof. 

International Gateway

It provides international services on request. They need to apply for MID on the account which will take 25 to 30 bank working days. To apply for MID, your account should be in approved status and also you need to have some transaction history.

Settlement Process

It provides the settlement in three working days.

Integration Services

They solve the technical integration queries. All major platforms are supported. Unsure about the App integration.

Support 

It provides email and chats support.

PayUmoney

PayU is another famous payment gateway in India providing online payment transfer services. It also provides seamless integration and it has gained popularity due to its longer duration in the market and widespread marketing.

Fees

No Set-Up Fees or Maintenance Charges

Domestic Pricing Plan - 2.00 % on Transaction Amount + GST 

International Pricing Plan - 3.00% on Transaction Amount + GST

Payment options

It includes multiple payment options  including all MasterCard, Visa & Rupay Credit Cards, Net Banking, Debit Cards, Wallets, UPI, etc

Onboarding Process

Although you can start collecting payments just after sign up, the money will be transferred to your bank account only after the successful bank and documentation verification. The transaction amount is limited till account gets approval.

International Gateway

Yes, they support International payments and multiple currencies.

Settlement Process

It provides the settlement in two working days.

Integration Services

It supports all major websites and application platforms for integration like Wordpress, WooCommerce, WHCMS, Prestashop, Opencart, Android, iOS, etc

Support

Email and Robotic Chat support available.

CCAvenue

It is among the top payment gateways in India providing domestic as well as international services and providing numerous payment options. It facilitates fast and secure payment collection with a seamless checkout. 

Fees

Under the basic plan- 

No Set-Up Fees 

Annual Charges - Rs. 1200

Domestic Pricing Plan - 2.00% + taxes

MasterCard & Visa Credit / Debit Cards (International) - 3.00% + taxes

Corporate / Commercial Credit Cards (Domestic) - 3.00% + taxes

American Express / Amex EMI & Diners Club - 4.00% + taxes

*There is a Privilege Plan with a setup fee and maintenance fees apart from per transaction charges.

Payment options

It claims to have maximum payment options including all MasterCard, Visa & Rupay Credit Cards, 58+ Net Banking, Debit Cards, Wallets, UPI, etc

Onboarding Process

The registration process is totally online but it takes time for the account activation for up to 2 to 3 days. It requires online documentation as per the business type and model along with the basic KYC and bank documents.

International Gateway

Yes, multi-currency payment processing is available with CCAvenue. 27 major foreign currencies are supported allowing merchants to target and sell at a global level.

Settlement Process

For the Basic plan, it T+7 days and for Privilege plan, it is T+2 days

Integration Services

It supports major platforms like Buildabazaar, Cubecart, Drupal, Interspire, Joomla, Magento, Magento Go, Martjack, Moodle, NopCommerce, Opencart, PrestaShop, WHMCS, WordPress, Android, iOS, etc.

Support

It provides call, email, and chats support mediums.

So, as per your expectations for your business, yourself, and for the customers, you may opt for an ideal payment gateway out of the five and other payment gateway options available in India. There are no major differences between the payment gateways except for some of them have more advanced features and products available. The primary complaints that many merchants have are in Support Services, Onboarding, and the charges that are levied unnecessarily. Accordingly, one can inquire, compare, and choose the payment gateways.