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Which is best payment gateway in India?

List of Best Payment Gateways in India CCAvenue. OPEN. BillDesk. Cashfree. Paytm. PayU. Instamojo. MobiKwik. More items...

meetanshi.com - 10 Best Payment Gateways In India [2023] - Meetanshi
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Looking for Indian payment gateways options? Confused about which are the best payment gateways in India? You may want to integrate secure payment gateway options with your Magento, WooCommerce, Shopify, or Prestashop stores for an enhanced shopping experience. It can be tricky to find the best Indian payment gateway when there are so many options available. So here’s the complete guide to finding the top 10 payment gateways in India. According to Statista, online payments in India are expected to grow with more than 20% CAGR between 2019 and 2023. It is estimated to reach 660 million Indians leveraging online payment by the end of 2023. However, thanks to the pandemic, online payment penetration has been seeing exponential growth. Having a population of more than 1.3 billion people, there are tremendous opportunities you can get by using online payment.

Table of Contents

And that’s why I have compiled the best Indian payment gateways of 2023 that can help you enhance the online payment experience of the store. Now, if you are an online store in the USA or UK, I’ve compiled a list that you may refer to:

List of Best Payment Gateways in India

Top 10 Payment Gateways in India

Razorpay is among the top payment gateway providers in India. The company was founded in 2014 and now it has more than 800K customers who use the Razorpay payment gateway. The company became a unicorn startup of India in October 2020 with over a $1 billion valuation. The Bangalore-based emerging fintech company has received more than $200 million in funding to date. The specialty of Razorpay is instant activation and easy integration. If you leverage this payment gateway, you also get a Dashboard where you can see real-time data of purchasing. Small, big, and large companies, freelancers, and self-employed have loved Razorpay as it is extremely simple to use and secure also. The payment gateway allows you to accept payment via various types of methods such as credit/debit card, net banking, UPI, and popular wallets that include JioMoney, FreeCharge, Airtel Money, etc. There are different kinds of websites such are WooCommerce, Magento, CS-Cart, OpenCart, and so on; Razorpay can be used as a payment gateway. Big business names such as Unacademy, UrbanClap, Zoomcar, Groffers, and BookMyShow have been using the Razorpay payment gateway. Razorpay is the business banking arm of Razorpay that makes end-to-end money movement easier. It’s a secure way for transactions. You can manage your marketplace and automate bank transfers. Along with this, there are also facilities for collecting recurring payments, sharing invoices, and availing of working capital loans. And if you are a Magento store owner, Meetanshi offers a readymade solution for you, Magento Razorpay Payments to integrate the Magento store with India’s Razorpay payment gateway to capture secure online payments in 92 currencies. Apart from this, Razorpay offers Razorpay Route API to split incoming payments among partners or individual accounts and manage money flow. Integrate the Razorpay Route API with Magento 2 using Magento 2 Razorpay Route extension to manage marketplace money flow.

Feature:

API-driven automation that requires zero manual intervention

100+ payment modes

Dashboard facility to check real-time data

Easy integration

Invoice payments

Integration with the website for payment

24/7 support

Save saving facility

Pros:

Easy integration with less code.

Fast and secure payments.

Credit/debit card, UPI, net banking, and 100+ payment methods.

Better conversion rate.

All major international cards are accepted

Real-time currency conversion is possible

Top payment gateway in India with zero setup cost

Cons:

The high failure rate in international transaction

Transaction Charge:

2% on Indian debit/credit card, net banking, UPI

3% on Diners and Amex Cards, International cards, EMI

Send your queries from here

PayGlocal, has a global reputation among popular payment gateways in India. It is a fast, secure, and global payment processing platform. The payment gateway offers best-in-class security for making an online transaction and can be a good choice for your business. Facilitates accepting payments from customers across the globe and helps expand your business exponentially. PayGlocal provides its merchant a platform to check details related to their transactions, and download reports. In addition, it also supports international currency settlement. The company offers a chargeback guarantee so that the store owners can focus on their business and can easily protect customers from various fraudulent activities.

Features:

Accepts payments in customers’ native currency

Fraud protection service

Smooth-checkout experience

Ensures smooth-checkout experience

Pros:

24/7 customer support

International payment can be done

Easy integration with website

Multiple payment methods

Secure and fast

Cons:

No negative points observed so far

Transaction Charges:

Visit Site

CCAvenue is one of the most popular payment gateway providers in South Asia including India. The payment gateway is easy to use, fast and secure. This payment gateway offers more than 200 payment options including 6 credit cards, 58 + net banking, 97+ debit cards, 14 Bank EMI and so on. It allows website integration and application integration as well. The transaction page is fully responsive and it provides a quick and simple checkout experience. For security purpose, the company has built FRISK (Fraud and Risk Identification System & Knowledge). This provides a safe and secure payment environment. The best thing about this payment gateway is, there are no withdrawal fees. Air Asia, Lakme India, Myntra, etc. leverages CCAvenue and witnesses success in their businesses. One can integrate CCAvenue with Magento 2 using Meetanshi’s Magento 2 CCAvenue Payment Gateway extension.

Feature:

Mobile payments

Website integration

International transaction

Allows multiple currency processing

Invoice generation

Fraud detection system

200+ payment methods

24/7 support

Recurring payments

Pros:

Fast account activation within one hour

Easy integration

Allows international transaction

Supports more than 200 payment methods

24/7 support

High security for fraud detection

Zero setup fee

Allows recurring payments

Cons:

Security is not good.

Transaction Charges:

For all type of domestic transaction: 2%

International transaction: 3%

Credit card EMI option: 2%

American Express / Amex Diners Club: 4%

Multi-currency options: 4.99%

Rupay Debit card: 0.00%

You can contact from here.

Number: +91 22 67425555 / 42465555

OPEN payment gateway is among the best payment gateway providers in Asia. The company started in May 2017, and now it has more than 3 million customers who use the OPEN platform to manage their business finances, of which many use OPEN Payment Gateway. With Series D funding, the company became the 100th unicorn in India in May 2022 with over a $1 billion valuation. The specialty is business banking accounts with seamless activation and easy integration. It also comes with state-of-the-art business finance tools. You can get a unified dashboard with this payment gateway to see real-time transaction data. Small and large businesses and freelancers love OPEN for its easy-to-use capabilities and security. The payment gateway allows you to accept payment via more than 200+ methods, such as credit & debit cards, net banking, UPI, and popular mobile wallets, including JioMoney, FreeCharge, Airtel Money, etc. We also support various eCommerce platforms for online stores and retail point-of-sale systems such as WooCommerce, Magento, CS-Cart, OpenCart, and so on. You can manage your marketplace and automate bank transfers. There are also facilities for collecting recurring payments, sharing invoices, making bulk payouts, current accounts, cards, payroll, accounting, payments, virtual accounts, virtual cards, UPI autopay, cash management, Payouts, and availing working capital loans. Apart from this, OPEN offers APIs to easily integrate banking services into the platform.

Features:

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200+ payment modes

API-driven automation that requires zero manual intervention

Dashboard facility to check real-time data

Easy integration

Invoice payments

Integration with the website for payment

24/7 support

Easy mobile integration with SDKs for IOS and Android

Pros:

Easy integration with no-code, low-code, DIY capabilities.

Fast and secure payments.

Credit/debit card, UPI, net banking, and 200+ payment methods.

Seamless integration with the brand website for better conversion.

Top payment gateway in India with zero setup cost

Send Payment links to customers to receive payments

Create & send GST-compliant invoices with in-built payment links

T+2 days settlement before buying the platform

Instant settlement after buying the platform

24/7 support at [email protected]

Cons:

The high failure rate in international transaction

Transaction Charges:

1.85% for Indian Credit/Debit cards and net banking.

Zero for UPI & RuPay Debit cards.

Send your queries here.

Visit Site

BillDesk Billdesk by IndiaIdeas is one of the most trusted online payment brands in India. The company was established in 2000 and specializes in managing recurring payments. Collect bills or consistent payments from your customers using Billdesk payment gateway. The payment gateway is trusted by reputed brands like Indian Airlines, Airtel, Vodafone, India Today, Reader’s Digest, and more. You can join these brands in offering excellent payment experience to the customers if you are a Magento 2 store owner by integrating Meetanshi’s Magento 2 Billdesk Payment extension and collect recurring payments from them. The Billdesk payment gateway allows customers to pay bills such as telephone, electricity, credit card, ISP, phones, insurance, gas, etc. through their existing bank accounts. Assure your customers security of the online payments with Secure Sockets Layer (‘SSL’) technology to encrypt information exchange facilitated by Billdesk. Features: Secure payment gateway providers

Supports recurring payments Pros: Regular Email reminders for bill payments

24*7 support service Visit Site Cashfree Cashfree has been getting popular because it is the cheapest payment gateway in India among the Indian payment gateway list. This payment gateway offers a fast payment service and an instant refund facility. The company was started in 2015 and now it has more than 15,000 businesses using its service. Cashfree supports credit/debit cards, net banking, and UPI. The facility of receiving international payment is also available. This payment gateway has a solution called “Cashgram”. It generates a web link so that businesses can send it to users and collect payment. Cashfree has big names in its list of customers that includes BigBasket, Dunzo, Xiaomi, HDFC ERGO, and so on. Features: No setup cost

Invoice generation

Fraud checking

Easy to configure

Low transaction fee

High security

Recurring billing facility

Website integration

Auto collection of payment

Instant refund Pros: Auto collection of payment

Instant refund facility

Accepts international payments

Allows multi currency processing

Invoice generation

Website and application integration Cons: Cashfree prefers to work with government-registered businesses. Transaction Charges: Net-banking, Credit and Debit card: 1.75% per transaction for 70+ banks

Pay Later and Cardless EMI: 2.5% per transaction

International cards: 3.5% + 7 INR per transaction You can contact Cashfree for more details Visit Site Paytm Paytm is a brand that is synonymous with digital payments. Along with their widely-used consumer app, Paytm also has a robust payment gateway for businesses to use. The Paytm Payment Gateway is built on the same technology that powers India’s largest brands and even the Paytm App. The payment gateway supports all major payment sources, including domestic and international cards, netbanking, UPI, Paytm Wallet and Paytm PostPaid. The payment gateway is designed in such a way that customers of all kinds can easily understand how to make a payment. Paytm Payment Gateway is the only payment gateway in India that allows acceptance of UPI payments at 0% transaction fees. It is also the only payment gateway that has a T+1 settlement schedule. Popular companies like Zomato, Uber, Adani, Jio, Swiggy and thousands of others are using the Paytm Payment Gateway. Join these brands in using Paytm and if you are a Magento store owner, you may check the method to integrate Paytm with Magento and make the most out of the payment gateway. Feature: Instant activation

Easy integration

100+ payment sources

Industry-best success rates

India’s most widely-used checkout

Dedicated support Pros: Supports all domestic credit and debit cards

Excellent user-interface

Faster transactions

Invoice generation

Payments without website or app through links Transaction Charges: Paytm offers various pricing plans but as Meetanshi’s blog reader or customer, you can avail the below pricing plan: UPI : 0%

Netbanking: 1.80% + GST

Paytm Wallet: 1.55% + GST

Credit Card: : 1.85% + GST

Debit Card: 0.4% + GST for amount < 2000, 0.9% + GST for amount > 2000

Debit Card (RuPay): 0%

AMEX/International: 2.65%* Contact Details: Contact PayTm at [email protected] Visit Site PayU PayU is a Netherlands-based fin-tech company that offers online payment technology to merchants. The company operates in 17 countries. It ranks among the payment gateway list in India owing to its outstanding features! The company has more than 100 payment methods containing net banking, cards, wallets, EMI, UPI, and buy now pay later. Businesses can accept payment from foreign countries as it allows more than 100 foreign currencies. Another great thing about PayU is, it allows customers for customization in the checkout page. After getting started with PayU, the company shows all the transactions in the dashboard. The payment gateway has an easy and beautiful user interface and the company allows merchants to integrate a website and mobile app also. Netflix, Airbnb, Dream11, and Ola have been leveraging PayU payment gateway. Feature: Invoice generation

Website and mobile integration

Facility for recurring billing

Multiple currency processing

Dedicated account manager

International payments

100+ foreign currency Pros: Tracking your earnings on dashboard

More than 100 payment method

24/7 customer support

Higher success rate and faster payment

Allows customization in checkout page

Zero cost for setup Cons: Some customers have experienced delay in payments. Transaction Charges: 2% + GST per transaction Contact details: Contact PayU from here Visit Site Instamojo Instamojo is another successful Indian payment gateway company in India that has more than 1 million active customers. This payment gateway has gained popularity because of the ease of use and extremely simple user-interface. Instamojo also offers 100+ payment modes including. It also allows recurring billing facility so that merchants can accept payment on a monthly basis. Integration with websites and mobile integration can also be done. The best thing about Instamojo is, it takes no charge for NEFT/RTGS and bank transfer. It does not support multi currency payment. Shriram Properties, Zepo, Adani Realty, SpringBoard are three of the top customers of Instamojo. Feature: Electronic invoice payment

Website and application integration

Recurring payment

Easy Onboarding process

Payment analytics

Online store

100+ payment modes

Live chat facility Pros: Zero setup fees

Allows free digital file hosting

Allows sharable payment links

Smooth user-interface

Ease of website and application integration

100+ payment modes Cons: Does not support multi currency payment.

The live chat feature needs improvement. Transaction charges: NEFT/RTGS/Bank Transfer : FREE

Debit and Credit cards: 2% + 3 INR per transaction

International credit cards: Available on request

Digital products and files: 2% + 3 INR per transaction Company contact: Contact: [email protected] Visit Site MobiKwik MobiKwik is also one of the fastest-growing payment gateways in India. There are more than 1.5 million businesses using this payment gateway for online transactions as of 2016. This payment gateway focuses more on providing a smooth mobile-friendly experience. It has a feature that detects OTP(One Time Password) automatically. The payment gateway also shows website analytics. MobiKwik supports credit and debit cards, wallets, international cards, UPI and EMIs. It can be integrated with websites and applications. It does not support recurring billing features. Zomato, Uber and Business World are the popular customers of MobiKwik. Feature: Website and mobile payment

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Auto read OTP

Supports credit and debit cards, wallets, international cards, UPI and EMIs

Website analytics

Mobile friendly user-interface and user-experience

Good conversion rate

Supports international transaction

Website analytics to check data Cons: Does not have recurring billing facility

Does not have a multicurrency processing facility

Does not generate an invoice of payment Transaction Charges: Credit card, debit card, net banking, UPI, Wallets(GST Extra): 1.90% per transaction International credit card, EMI, AMEX, Diners(GST Extra): 2.90% per transaction Contact details: You can contact from here. Visit Site

Other Popular Payment Gateway Companies in India:

JustPay payment gateway is one of India’s most trusted payment gateways, with 10 Billion INR transactions processed every day, 120 Million mobile devices SDK installation, and 4 million transaction volume processed per day! This payment gateway’s impressive part is that it’s famous and used among an excellent customer base composed of BMS, Amazon, Flipkart, MakeMyTrip, Myntra, and the list does not stop here. Freecharge, Snapdeal, Airtel, Foodpanda, Swiggy, Zoomcar, Voonik, Zivame are also the users of this payment gateway. Moreover, this flexible & modular payment gateway offers domain-specific languages and function-reactive programming for composable, robust abstractions. 100% customization ability and more than 5 million daily volumes is another great thing about this payment gateway, and it’s one of the most convenient, secure and affordable options for online payments. To integrate this payment gateway with Magento 2, you may choose Magento 2 JusPay Payment Gateway that accepts secure online payments with integration of Magento 2 and JusPay payment gateway. The hosted payment processing ensures security in Magento 2 stores.

Features:

Mobile & desktop checkout layer

Automated 2FA

Real-time payment ops

Pros:

Cross-platform

Best full-stack UPI merchant solution

Cons:

Basic dashboard

The Axis payment gateway by Axis bank is one of the robust payment gateways in India that helps to enhance the payment system of your online store. Collect payments from the customers round the clock and improve their experience with your business. Collect the payments in all local and international Visa, MasterCard and maestro cards. If you are a Magento 2 store owner and want to accept payments via Axis bank payment gateway with 128-bit security and two-factor authentication, you may opt for Magento 2 Axis Bank Payment Gateway extension. It integrates the Axis bank payment gateway with Magento 2 stores. Win customers trust with a secure online payment system offered by Axis bank payment gateway.

Features:

Payment authorization by the issuing bank

Encrypted transaction processing

3D secure

Pros:

24*7 support

Robust transaction process

ICICI Merchant services is the alliance between ICICI bank and First Data, the largest private sector bank in India and leading payment technology provider in the world respectively. Offer credit and debit payment solutions to your customers with ICICI payment gateway. The online payments are captured with encryption and hence security is not compromised. For Magento 2 store owners, integrate the First Data ICICI payment gateway with Magento 2 store using Meetanshi’s Magento 2 ICICI Payment Gateway extension.

Features:

Multi-bank EMI

Pros:

A seamless user experience

Cons:

No mobile application

How to Choose the Best Payment Gateways in India:

Safety and Security

The payment gateway should have a safe environment while making payment. Ecommerce giants like Amazon India and Flipkart always focus on providing the best shopping experience. That is why safety is essential. You should choose a payment gateway that offers amazing safety for your customers.

Responsiveness

Mobile users have been increasing rapidly and if the payment gateway is not mobile-friendly, the chances of losing customers are extremely high. Make sure you choose a payment gateway that is mobile responsive.

Bank Settlement Time:

Whenever you search for payment gateways, make sure you check the settlement time. There are some payment gateways that take 5-6 days for settlement. The settlement time should be less than 3 days.

Integration Process:

As a business owner, your focus should be on business; not on integrating the payment gateway. If a particular payment gateway takes too much time for integration, you should avoid and choose the one which takes less time for integration.

24 hours a day customer support:

Good customer support is essential to have. If you find any problem with the service, there should be a quick problem-solving approach of a payment gateway provider.

Offers partial payment

If you are a business offering high value products, partial payment features can help stand out among the competitors. For Magento 2 store owners, using Magento 2 Partial Payment extension solves the issue. Selecting a payment gateway that facilitates partial payment is important for high value goods. Easy onboarding process – Choose a payment gateway that is easy to install, integrate and configure in your online store. Easy onboarding process makes your task easier to start collecting secure payments!

Indian Payment Gateway related FAQs

What is Payment Gateway and how does it work?

A payment gateway is a path for businesses to accept online payments from their website or app or landing page. This means, people can pay online to businesses in exchange for product and service. A payment gateway is third-party software that securely transfers customers’ money from bank account to business account.

What are the main types of Payment Gateways Available in India?

There are mainly four types of payment gateways in India.

Hosted payment gateway

Self-hosted payment gateway

API hosted payment gateway

Local bank integration payment gateway

Which is the best Payment Gateway in India?

We highly recommend Razorpay because of the fast and secure service and easy user interface as well.

Which is the cheapest payment gateway in India?

Cashfree is the cheapest payment gateway in India as the domestic transaction charges are only 1.75% per transaction and there is no maintenance fee also.

Is there any best free payment gateway in India?

No. There is no free payment gateway. There would always be a transaction charge. You can refer to the different payment gateway charges in India from the above table.

How to add a payment gateway on a website?

There are two ways to add a payment gateway to a website.

The first way is to check the website of the payment gateway. Each and every payment gateway demonstrates how to add payment gateway on a website and application as well. Follow the steps and integrate the payment gateway on your website. The second way is to hire a developer or an agency to take off the payment system for your website. If you still have any doubts about the payment gateways or facing difficulty in integration of payment gateway with Magento 2 store, you can avail the Meetanshi’s Magento Payment Gateway Integration Service. Also, Meetanshi offers a wide range of payment gateway integrations with Magento 2 that you can have a look at. Do let me know your most preferable payment gateway in the Comments section below.

Also, please share the post with E-commerce store owners via social media.

Thank you.

meetanshi.com - 10 Best Payment Gateways In India [2023] - Meetanshi
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