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The Best Indian Payment Gateways

Whether you are starting your own e-commerce website or you are wanting to enhance your customer-centric retail brand, a payment gateway can be tricky to choose. Whatever the case, there are several payment gateways available in India which you can compare in order to make your final decision. 

It is important to note that some payment gateways in India require a merchant account to use. This is an account that allows businesses to accept payments in a variety of ways, such as credit or debit cards. However, some do not require this, making them easier and sometimes more affordable to use. If you are interested in investing in a payment gateway, keep reading for some top picks. 

CCAvenue

CCavenue was launched in 2001, making it one of the oldest payment gateways in India. Their onboarding period is arguably one of the shortest, taking just 24 hours for a successful onboarding process. This makes it highly efficient for urgent business needs. 

This payment gateway supports almost every bank in India, as well as several international banks too. It is highly reliable and is able to handle a high-volume of website traffic and transaction. It is the ideal choice for startups, as it is affordable and efficient, and the startup plan is free to set up. CCAvenue is one of the most popular choices for Indian entrepreneurs. 

Razorpay

Razorpay is a wildly popular payment gateway in India. It offers seamless transactions from both the user and merchant sides, which helps businesses to improve user experience and customer engagement. It is also highly customisable. 

One of the benefits of Razorpay is that it supports both local and international credit and debit cards, as well as several major currencies. The documentation process is completely online, with the exception of needing to scan in certain documents for cancellations. It can be used on a variety of ecommerce websites, including WordPress, WooCommerce and Magento. 

Instamojo

With a fun and quirky name like Instamojo, you can bet that this is one of the more popular Indian payment gateways. One of the reasons for its popularity is that users can register with the service regardless of if they have a website or not. 

One of the downsides is that Instamojo does not support international cards or currency yet, but it is highly efficient as most of the services can go live in real-time. There is no setup fee, and there is an affordable maintenance fee. They are also able to support CMS systems such as WordPress, WooCommerce and Shopify, with easy integration. 

Cashfree

Unique features on payment gateways are highly popular, just like those found on Cashfree. Some of these features include the ability to connect Paypal accounts for international payments, payout APIs to send money to any bank account, as well as “pay later” options. 

The setup and maintenance fees are free, which makes Cashfree ideal for small to medium-sized businesses. They also offer stand-out technical help for any problems on their platform. Some of their payment options include Visa, MasterCard, Rupay, UPI, and IMPS. it was developed by PayPal, which explains its seamless service offerings. 

Paytm

After demonetisation became a craze in India, Paytm saw itself growing in popularity with users and merchants alike. This payment gateway has also developed credit cards, which is bringing in more buzz about the brand and its possible uses. 

The initial setup fee is Rs5000 (5000 Rupees) and so is the maintenance fee, but with promotional offers, these are often waived or reduced. They are able to accept international credit and debit cards but are not accepting multi-currency transactions as yet. It takes only two working days to go live, and once the account is set up, maintenance is quick and responsive. 

Fonepaisa

In a world of mobile-first consumers, Fonepaisa has a leg up over the competition by being a mobile-first payment gateway in India. This makes it ideal for smaller businesses who want to reach consumers on a platform that is used on a daily basis. 

One of the more unique features is that you are able to negotiate the setup and maintenance fees, which can help those with smaller budgets. The mobile-optimised design can accept a wide range of payment methods, including scan and pay. There is also support for international currencies and cards, such as Visa and Mastercard. 

How To Choose?

Weighing up the pros and cons of each payment gateway will help you to make a final decision. It is important to look at the fees and maintenance costs of each one and factor this into your monthly budget. However, some of the more affordable options might not have the same features as those that cost slightly more. 

A mobile-first world will call for a payment gateway that allows you to accept and refund payments on mobile platforms, so be sure to include this into your considerations. An established brand is a good choice, but be sure to look out for modern offerings if you are a tech-forward business.