List of Best Payment Gateways in India

May 22, 2023


In India, the e-Tailing market is in full swing as a huge proportion of the population has started giving preference to online shopping instead of offline shopping. Additionally, technological advancements have roped in advanced payment gateways with high security. With time, these payment gateways act as the organization’s cornerstone.

In-depth data analysis reveals that online payment gateways in India have shown tremendous annual growth of 20% between 2019 to 2022.

Furthermore, as per the assumptions,  by the end of 2023, approximately 660 million Indians will be leveraged with online payments.

Is scrutinizing for online payment gateways available in India? Considering the escalated popularity of payment gateways, possibilities are you might find the task of figuring out the best payment gateway an intimidating one.

The practice of perceiving the best payment gateway in India can be tricky due to the presence of a plethora of alternatives. Whether you are a brick-and-mortar merchant or an online merchant, you can get a handful of benefits from online payment gateways. Such gateways provide safeguarded payment transactions, including UPI, wallets, and card-based transactions.

We have analysed over a dozen online payment gateways to transform the burdensome task of figuring out the best payment gateway in India. The best payment gateways are hinged on crucial factors, including security, associated charges, integrations, ease of setup, supported platforms, and much more.

What is a Payment Gateway?

A Payment Gateway is an interface or eCommerce service that allows users to make online payments through their credit card or debit card. These payments are intended for traditional street-side businesses, online businesses, retailers, and organizations that offer a blend of traditional and internet trading.

With online payment gateways, the shift of information from a payment portal towards acquiring a bank takes place without interruption making online payments highly successful and secure. Payment Gateway service is responsible for automating the payment transaction between the seller and buyer.

You can generally consider it a third-party service, nothing less than a system fully loaded with a set of computer processes. These processes receive information, verify it and decide whether to accept or decline in the merchant’s place. With a payment gateway infrastructure, the service provider (merchant) gets the feature to accept cards and other payment forms to run a business successfully.

Now that you know what a payment gateway is and how it smoothes the transactions between the seller and the buyer, the next thing you should get acquainted with is the best payment gateways in India.

1.   Razorpay

Razorpay secures the top position in our list of the best payment gateway in India owing to its easy-to-use interface. Launched in 2014, this prominent payment gateway has more than eight lakh, satisfactory clients. The organization embraced its success by becoming a unicorn startup in India in 2020. At that time, the overall valuation of Razorpay clocked at One billion dollars. By now, it has garnered more than 200 Million Dollars.

Individuals prefer Razorpay over other payment gateways due to simple integration and quick activation. With an easy and user-friendly interface, you get real-time information associated with the purchase. From small-scale and mid-scale to large business organizations, freelancers, and self-employed personnel, everyone relies on Razorpay to put forward secure and seamless transactions.

The client base of Razorpay includes Unacademy, BookMyShow, UrbanClap, and Zoomcar.

Features of RazorPay

  • Easy payments without human intervention with API-driven automation
  • Availability of approximately 100 distinct payment methods to cope with versatile client requirements
  • Real-time data analysis associated with the transaction right on the dashboard.
  • Simple integration, along with invoiced payments
  • Website-based integration of payments
  • 24/7 customer support to offer the utmost client satisfaction
  • Foremost instrument to save money
  • Secured transactions without any interruption

Fee and Service Charges

To enjoy the benefits of this payment gateway, you have to bear the below service charges.

  • For the initial three months, no transaction fee will be levied specifically for transaction amount up to INR 3,00,000.
  • 2% transaction fee on every successful transaction
  • 1% transaction charges on using International cards
  • 18% GST on the applicable transaction fee

However, you don’t have to pay annual maintenance charges or service set-up fees to use Razorpay.


  • Simple and swift to integrate with minimal code
  • Quick and secure online payments
  • More than 100 payment options are available, including UPI, cards, net banking, etc.
  • Higher conversion rate
  • Accepts payments from a range of major credit cards across the world.
  • It allows the user to convert currency in real time.
  • Using the best payment gateway does not need to pay annual maintenance charges or other initial fees.


The only limitation of using this payment gateway is that International transactions made through Razorpay have a higher rate of failure.

2.   Paypal

Paypal, India’s most widely used payment gateway, is an excellent option for your organisation to carry out secured online transactions. Over 325 million people use the payment software behemoth, which is present in more than 200 nations. This figure makes it clear that the payment gateway is quite popular worldwide.

World-class security is offered by PayPal while doing an online transaction. Almost all credit and debit cards issued abroad are accepted. It enables the settlement of global financial transactions. Merchants get the option to withdraw the funds in 56 different currencies. With a higher checkout conversion rate of 82% compared to other payment choices, it offers a complete purchasing experience.

To safeguard users against fraud, PayPal reviews transactions around-the-clock, every day of the week. Paypal allows users to make regular payments through their platform.


  • Integration of a website for foreign transactions with an electronic invoicing system
  • Providing highly secured services to stop fraud
  • The ability to handle transactions in 50+ currencies
  • Customer care services are available round the clock throughout the year
  • For recurring payments, you get the option to save the card information to make transactions smooth and less time-consuming.
  • Mobile transactions are feasible.

Service Fees and Transaction Charges

Paypal doesn’t ask for any annual maintenance charge from its customers. You can make secure transactions through this best online payment gateway without incurring any joining maintenance charges. However, you might have to bear other associated charges while making transactions through the gateway. For instance, for every transaction made through Paypal, you will have to pay 4.4% of the transaction amount in addition to US$0.30 and conversion charges. In India, the transaction fee is 2.5% of the transaction amount. This will be applicable if you are making online payments within the border, whereas for cross-border transactions, the fee will increase to 4.40% of the transaction amount.


  • Provides payment invoice so that you can create a proper transaction record
  • Availability of customer care support to resolve client queries in minimal time and offer enhanced customer satisfaction.
  • Ease of carrying international payments in a few clicks.
  • Integration of several payment options with the platform.
  • Making recurring payments easier than ever and less time-consuming
  • Quick, easy to use and highly secured interface
  • Swift payment through QR code


You must avoid using Paypal for transactions of smaller amounts. We recommend using other payment gateways as you might end up paying high rates with Paypal.

3.   Paytm

Paytm has established itself as a household name in this era of online transactions. In addition to its well-known consumer app, Paytm provides ventures with a reliable payment gateway.

The Paytm App and India’s other well-established businesses are powered by the same technology used to build this powerful and secure Payment Gateway. Paytm supports various payment methods, including local debit credit cards, international cards, net banking, UPI, wallets and PostPaid exclusively designed for Paytm users.

Its user-friendly gateway design allows a broad customer base to make transactions. You can complete the transaction in just a few clicks without being a pro. Additionally, being the only gateway to accept UP payments makes it prominent across others.


  • Instant Activation of the Gateway.
  • Integrating is easy.
  • User-friendly interface
  • More than a hundred different ways of payment alternatives.
  • Success rates among the best in the sector
  • One of the preferable payment gateways.

Service Charges and Transaction Fees

When the setup was launched, the customer had to pay a setup fee of INR 5000. But with time, the fee is waived. You don’t have to pay any annual maintenance charges. However, you will have to bear associated transactional fees based on the transactions.

For instance, on every transaction made from Paytm wallet, net banking or via credit cards, an additional 1.99% of the amount will be deducted. While carrying out transactions below INR 2,000, you will have to pay 0.4% service charges. On the other hand, no additional cost will be levied for payments associated with Rupay Card and UPI.


  • Dedicated assistance
  • There is acceptance for all domestic cards (credit and debit cards.
  • fantastic graphical user interface
  • Transactions that are finished more quickly with high security
  • Presence of payment invoices
  • Payments can be made over links without visiting a website or app.

4.   CCAvenue

CCAvenue is one of the most well-known suppliers of payment gateways in South Asia, specifically in India. The payment gateway is speedy, secure, and easy to use. Users can put forward the transaction in multiple clicks with utmost ease.

About 200 different payment options are accepted by this payment gateway, including more than 58 net banking options, six types of credit cards, and more. It enables quick and effortless integration of websites and applications. The checkout process is quick and simple thanks to the mobile-friendly transaction page.

The company created FRISK for security reasons, handles the entire range of transactions at the back end, and guarantees secure payment processing. The best thing is that this payment method has no withdrawal fees.

An array of successful and well-established brands, including Air Asia, Lakme, Myntra, etc., uses CCAvenue. They have experienced a high success rate with the adoption of this high-tech payment gateway. The Magento 2 CCAvenue plugin by Meetanshi might connect CCAvenue and Magento 2, resulting in enhanced security.


  • Making payments using a mobile device
  • Incorporating foreign transactions into the webpage
  • Permits the processing of many currencies
  • 200+ means of payment
  • Creation of an invoices system for detecting fraud
  • Support is offered seven days a week, nonstop
  • On-time payments

Fees and Transactional Charges

The user doesn’t have to pay any initial setup fee, but there is an annual maintenance charge of INR 1200. No payment cost is associated with UP transactions and Rupay debit card payments. If you make a payment through a wallet, you will have to pay 2% of the transaction amount as a fee. International cards come with an extra expense of a 3% transactional fee. Additionally, you get the option to make multi-currency transactions by paying a fee of 4.99%.


  • The account gets enabled in an hour.
  • The easy connection makes cross-border transactions conceivable.
  • There is support for more than two hundred payment types.
  • Support is offered every day, all week long, round the clock.
  • It takes good security to identify fraud.
  • There is no setup cost so payments may be made continuously.


The only thing you need to take into consideration is security issues correlated with transactions.

5.   Cashfree

According to the list of the best payment gateways in India, Cashfree has gained recognition as the cheapest payment gateway across the nation. This payment gateway provides a quick payment option and a swift return option.

Since its founding in 2015, it has grown to provide services to over 15,000 enterprises. Credit cards and debit cards (both national and international), net banking, and UPI are all accepted by Cashfree. Additionally, it’s possible to obtain funding from abroad. The exclusive service users get through this payment gateway is “Cashgram.” Businesses can provide clients with a web connection through which they can collect payments.

Customers of Cashfree include well-known brands such as BigBasket, Xiaomi, HDFC ERGO, etc.


  • There are no initial costs.
  • Option for payment invoices
  • Detecting fraudulent transactions
  • The configuration is easy.
  • Low transaction costs.
  • Superior security and utmost customer satisfaction
  • Ability to set up regular payments
  • Integration of a website Automatic payment collection
  • The refund is issued immediately.


  • Payments are taken care of automatically.
  • Refunds are immediately available.
  • Payment acceptance from all over the world
  • Processing in many currencies is possible.
  • the making of invoices
  • combining the application with the website


Cashfree gives more preference to organisations registered with the government.

6.   Atom

Atom has shown tremendous growth in the past few years, with more than 150,000 businesses using its services. The payment gateway provides 256+ payment options from more than 50 banks, including national and international credit cards, debit cards, IMPS, and many more. Atom has a checkout page with a fast checkout option offering the best possible user experience.

For security purposes, it is developed through a high-security encryption system. Retrying a payment is another option. Following their Atom purchase, customers get an invoice. Merchants use merchant Consoles to monitor all transactions and traffic. It includes a built-in multicurrency mechanism. It is possible to integrate with websites and applications.


  • e-Commerce-focused console
  • The integration of the application and the website
  • Extreme security
  • The capacity to produce invoices is available.
  • An express checkout option is offered.
  • Retry payment option


  • Availability of more than 256 different payment options.
  • Conversion rates increase when an express checkout page is used.
  • You may monitor real-time payments via the merchant console.
  • Permits the processing of many currencies
  • Integration is easy, and assistance is always available.
  • Enables cross-border transactions


  • The system does not handle recurring payments.
  • An annual software upgrade charge is required.
  • Additionally, there are one-time integration costs.

7.   PayU

PayU is a fintech company based in the Netherlands that offers online payment technologies to merchants. The business has operations in 17 different nations across the world. It is considered one of India’s best payment gateways because of its remarkable features!

The company offers hundred plus payment alternatives, including purchase now, pay later, EMI, UPI,  debit and cards, net banking, etc. Businesses may accept payments from all over the world because it supports transactions in almost every currency.

Customers may customise their checkout page using PayU, another amazing feature. After implementing PayU, the organisation shows every transaction in the dashboard. Businesses get the option to connect a site with a mobile app using the payment gateway, which has an easy-to-use and appealing user experience.


  • Generating payment invoices
  • Website compatibility with mobile devices
  • A facility for recurring billing
  • The handling of various currencies
  • A dedicated account manager
  • Acceptance of International payments
  • More than a hundred different currencies are supported


  • The dashboard allows you to monitor your profits.
  • There are more than 100 different methods to make payments.
  • Available seven days a week, twenty-four hours a day, customer service
  • A faster rate of payment and success
  • It is possible to customise it on the checkout page.
  • Free setup is provided.


Customers witness delayed payments.

8.   PayKun

A brand-new payment gateway called PayKun provides speedy and secure transactions. All transactions that PayKun processes are secured to PCI DSS Level 1 standards. Compared to other payment gateways, PayKun is highly known for offering a minimal possible payment settlement period of three days. Customers can make payments using hundreds of available payment options, making it one of India’s best payment gateways.

Customers can easily integrate the website with an application in a few easy steps. Through a function, customers can receive payment links. There are no fees for installation or upkeep.


  • Mobile device integration is easy.
  • Easy integration of merchant website
  • Permits the processing of multiple currencies
  • Making a payment invoice is possible.
  • Card storage allows you to make recurring payments with utmost ease.
  • Availability of nearly 100 different payment options.


  • Excellent security
  • Payments are processed faster.
  • Adopts more than 100 different payment options
  • Management of customers is possible.
  • No starting fees are involved.
  • Simple refund policy.
  • A payment connection option
  • Takes payments from everywhere in the world


Does not support point-of-sale transactions

9.   Instamojo

Another well-known Indian payment gateway firm, Instamojo, has over one million active users. Increasingly more people are using this payment gateway thanks to its simple user interface and convenience. Additionally, it accepts more than a hundred distinct payment options to provide the ultimate user experience. Retailers can regularly pay thanks to the recurring billing feature. It allows easy integration of websites and mobile devices.

The amazing part about Instamojo is that both bank transfers and NEFT/RTGS are free. However, it doesn’t support payments in several different currencies. Some of the top clientele bases of Instamojo include Zepo, Adani Realty & SpringBoard.


  • Electronic invoicing and payment option
  • The integration of the application and the website
  • Regular payments
  • A simple onboarding process
  • Quick payment analytics
  • Availability of more than 100 distinct payment options
  • A live chat option is offered to resolve customer queries


  • There are no initial expenses.
  • It lets you store digital files for free.
  • Allo users to distribute payment links.
  • Easy-to-use interface
  • Websites and applications can be integrated easily.
  • Nearly 100 different payment options are available.


  • Multiple currency payments are not supported.
  • The live chat alternative could be preferable.

10.    MobiKwik

One of the rapidly expanding payment channels in India is MobiKwik. Over 1.5 million businesses were using this payment gateway for online purchases as of 2016. The major goal of this online payment gateway is to improve the mobile user experience. It has a feature that identifies OTP automatically ( One-Time Password). The payment gateway also shows website metrics.

MobiKwik accepts UPI, credit cards and debit cards (both national and international), wallets, and EMIs. It can be used in conjunction with websites along with mobile applications. There are no alternatives for recurring billing. The three most well-known users of MobiKwik are Business World, Zomato, and Uber.


  • Supports payments via mobile and the websites
  • Saves the card details for later use
  • The auto-read OTP is compatible with wallets, international credit and debit cards, UPI, and EMIs.
  • Availability of website’s analytics


  • Features sophisticated security.
  • A variety of payment methods are offered.
  • Optimized for use on mobile devices in terms of user interface and experience
  • High conversion rate.
  • It facilitates cross-border transactions.
  • Utilise website analytics to verify data.


  • Recurring billing is not available.
  • Multicurrency processing is not possible.
  • No payment invoice has been produced.

There you have it: Our exclusive list of India’s top payment gateways. According to the list mentioned above, the finest payment gateways in India are Instamojo, RazorPay, and CCAvenue, each for a different reason.

However, they are not the ideal payment gateway for your internet business, as the optimal one might change per the business requirements. The answer to your quest for the right payment gateway will depend on basic business needs. Perhaps you require the protection of CCAvenue or prefer the cost of Instamojo.

Before making your choice, you should be fine if you consider the safety, security, integration strategies, features, product permissions, and pricing.


Chitra is a stellar writer with over three years of experience writing about banking, financial services and insurance. She enjoys delving deeply into all the nitty-gritty of finance and associated topics that most people would rather avoid. With a master's in Computer Science, Chitra alchemises her analytical and creative prowess to manifest some of the most astounding articles for Urban Money.

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