10 Best Payment Gateways in India | Online Payment Gateway | Punnaka

Top 10 Best Payment Gateways in India

The usage of payment gateway is in high demand in India. However, it's not just because of the increase in internet users.

Due to the pandemic, people have mainly started using online sources to transact money. Both businesses and customers use online modes to carry on their transactions.

According to Statista, the Indian payment gateway market will grow to 1700 million dollars by 2025.

Digital payment has been a boom in the market, with numerous platforms taking place.

If you own an e-commerce business, you need to ensure that you stay caught up as your customers are all moving towards the digital era,

which is why it becomes necessary for companies to introduce payment gateway integration in India.

Here, this blog will discuss the best payment gateways in India and the meaning of payment gateway.


What is a Payment Gateway?

From the seller's point of view, a payment gateway is payment software that makes transactions easier.

Moreover, these gateways are merged with ecommerce software to give them an outline of the market.

Usually, a payment gateway is a software that offers an online payment service to ecommerce sellers to process e-purchases made by customers.

It studies the customer's information and transfers it to their bank account.

Therefore, ensuring that it secures the correct data and the availability of sufficient funds ensures the merchant gets paid. 

Under this, the customer can use any mode of payment according to their convenience,

like a credit card, debit card, wallet, UPI, or net banking, which is then processed by the payment gateway software.

Source: https://unsplash.com/photos/tgquMvhNLc4 


Top 10 Gateway Payments in India:

1. Razorpay-

Razorpay, founded by Shashank Kumar and Harshil Kumar in 2013, provides services to vendors, ecommerce businesses, and merchants.

Known as the best payment platform, Razorpay provides users with a system designed to handle end payments, which can be merged with multiple websites and apps.

The fintech company is based in Bangalore and can be used by organizations after they acquire payroll management. 

However, the pricing for the same is zero for setup, withdrawal, and annual maintenance fees.

You only have to note the transaction fees between 2 to 3 percent. This depends on the method of payment and also on the transaction, whether it is domestic or international. 

The key features of Razorpay include the following-

● Razorpay is merged with security compliance.

● It offers easy integration with an easy understanding of the software.

● Also, it provides 1000 plus payment modes along with international prices.

● The email features allow the customer to know the position of their transactions.


2. Paytm-

Paytm is an India-based multinational company that provides a digital payment system for ecommerce services.

As the name suggests, Paytm means paying with a mobile. Vijay Shekhar Sharma started the company in Noida in 2010 as a DTH and prepaid recharge platform.

And today, it is available in 11 languages, with more than two crores merchants in India using its services. 

Paytm's transaction fee is 1.99 percent for Paytm wallet, credit card, and net banking payment modes.

The setup, maintenance, and withdrawal fee are zero. However, you would need your business PAN number and a business bank account that should be in your name. 

The key features of Paytm include the following-

● Besides wide domestic payment modes, it also supports international cards such as Visa, Maestro, Master, Amex, and many others payment modes.

● Paytm offers a key account manager for your customer support with the help of a customer helpdesk.

● The user reach of Paytm is around 330 million plus.



Paypal is another payment gateway that is an American multinational as it operates in various countries, including India, and usually with online payment and money transfers.

Today, the headquarters of Paypal is in the US, San Jose, and California, and it has three pan-India centers.

Merchants and online sellers can log in for this gateway at a minimum fee that is 4.4 percent, and it supports and sets the exchange rate of currencies.

You can also check their pricing page for more detailed information.

Critical features of Paypal include-

● It supports more than 100 currencies on its platform.

● It has a reach of 400 plus million active users and more than 20 years of experience in the same field.

● The business setting of Paypal lets you expand and grow your business without the problem of the gateway.


4.Cashfree payments-

Cashfree payments is an Indian-based payment gateway and API payment platform that supports online businesses with its payment solutions.

To date, they have engaged lakhs of merchants. Headquartered in Bangalore and founded by Reeju Dutta and Akash Sinha in 2015.

The platform supports various payment modes and is merged with eCommerce platforms like Shopify and Magento. 

However, the seller's account's pricing depends on the payment mode. Most payments have 0 to 1.90 percent payment structures where paying later,

cardless EMI is relatively higher, and international payment mode is the highest. 

Critical features of Cashfree Payments include-

● The payment gateway is built for the Indian audience.

● The UI is easy to use, with a dashboard and analytics to keep track.

● It offers a payment facility through cards, net banking options, mobile wallets, UPI, NEFT, and Paypal.

● It supports 32 plus currencies but other currencies on available request.



With the help of the software, you can start your own business within an hour because transactions are made easier with this gateway.

However, the parent company was Infibean, founded by Vishal Mehta in 2007. The platform offers a paid version known as privileged and a free version also.

But for the free version, you will have zero fees for setup. Moreover, you will need to pay software up-gradation charges for the first year followed by rupees 1200, which must be paid at the beginning of every financial year.

If we talk about the transaction fees, depending on the payment mode, that can be a minimum of 2 percent and a maximum of 5 percent. 

Critical features of CCAvenue include-

● The unique feature of the platform is that it offers a multilingual checkout page in 18 major Indian and international languages to support a customer base all over the globe.

● It offers multi-currency transactions in 27 major currencies.

● This payment gateway allows you to design the payment pages according to your requirement by including your brand logo, colors, and more.

● It supports multiple payment modes, including credit and debit cards, UPI, wallets, and more.



Instamojo is a dual site where you can build your website and use its payment gateway solutions.

The founders of this gateway platform were Sampad Swain, Akash Gehani, and Aditya Sengupta in 2012. They had the aim to make the internet a place for businesses.

This payment gateway is designed for ecommerce businesses, and the cost for the same is around 2 percent of every transaction plus 3 rupees.

But it excludes the GST for the transaction you made.

Critical features of Instamojo include-

● It provides a trial account to glimpse its features with limited payment transactions.

● It supports multiple modes of payment like debit and credit cards, net banking, UPI, and NEFT, and it also supports international card payments.

● You can easily install a pay button on your site with this platform.



PayU is a fintech business of Proses, a global consumer internet group and one of the world's largest technology investors.

This payment gateway started in the Netherlands, and in 2014 it made a PayU branch in India.

However, the pricing bit of this payment gateway platform offers users three plans to choose from- the starter plan, business plan, and business premium. 

Critical features of PayU include-

● The platform accepts different payment modes, like credit/debit cards, net banking, UPI, wallets, and EMI.

● It carries international payments and also has multi-currency support.

● The platform can be merged with other platforms for easy payment.

● The platform offers customization as per your brand.



A spay is another best payment platform that can help to boost your business with a robust payment gateway system.

It offers transactions and accepts payments from multiple currencies with an all-powerful payment gateway. It provides a way to create an entirely online current account.

Automate complaints and payables; its cards make tracking and simplify purchases.

The Spay aims to create connections that do not include any disintegration in the ecommerce system. Their mission enables customers to go cashless. 

Critical features of Spay include-

● It accepts international payments and even has multi-currency support for major currencies.

● The platform offers a customized experience as per your business.

● Moreover, it provides security for every price.



PayKun is a renowned platform for payment gateway because it deals with all sorts of international and domestic payments.

The platform offers you a transparent amount with zero setup price. But for wallets, net banking, UPI, and debit card, the fee is 1.75 percent, and for credit cards and international modes, the fee is 2 percent and 3 percent, respectively.

Critical features of PayKun include the following-

● It offers more than 120 modes of payment.

● All the modes are available at the lowest transaction cost.

● The platform provides fantastic support via email, chats, and calls.

● You can also accept payments via SMS, email, and Whatsapp without logging in to the website.


10.ZaakPay By MobiKwik-

This payment gateway company offers payment wallets and other payment services. It aims to support every business, whether big or small and help them excel in the competitive market.

Starting in 2008, MobiKwik's ZaakPay has been used by over 108 million registered users. You do not have any maintenance fee or setup fee. 

Critical features of ZaakPay include-

● The platform offers problem-free integration and safe and secure payment processing.

● A completely equipped dashboard with robust tools and an efficient payment management system.

● It also provides efficient costs for every transaction to help grow its business, and no hidden charges are applied.


Final Thoughts:

The growth of the eCommerce economy is increasing day by day, and so it becomes necessary to get your eCommerce business integrated with the trending technology.

The above blog mentions some of the best safe gateway platforms for merchants and customers. 

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Added On (2023-10-20 23:44)

best payment gateways in india

Added On (2022-12-18 22:56)

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