Top 10 Payment Gateways in India

Hello everyone, Damini this side, and out of all the blogs I have written and topics I have discussed, I don’t think that there would be a topic as "niche" as this.

It doesn't matter what work you do; every business has this question about how they should receive payments.

And everyone wants a platform where they can easily get the money, without much of it being deducted by tax.

Here are 10 platforms that have been tried and tested by not only me, but also millions of others, and have proven to provide a seamless experience.

But before that, here are the 5 things you must have before having a payment gateway;

1. Onboarding process:-

It refers to the paperwork that goes behind creating the payment gateways, such as tax information, account information, and legal information.

2. Pricing option

It is the fixed amount that these payment gateways charge you for their services.

3. Documentation

Some applications like Shopify and WordPress don’t need documentation, but if you are using any other tech stack, then documentation becomes pretty important.

4. Payment Option and User Interface:-

You need to check out the credit cards, debit cards, internet banking, wallets, and UPIs that you use.

5. Reports

It means how the graphs and charts look once all the payments are being made, so that you can track your business progress.

So, with these five things in mind, let’s start with our first payment gateway.

1. Stripe

It is one of the most industry-standard payment gateways, and the reason is that on their website, they just openly state that they are developer-first.

And hence, handling them becomes easy for individuals.

Further, its simplistic user interface, which you can check here, makes the experience seamless.

Since the application is in its early stages in India, the onboarding process still needs to be refined a lot.

The pricing varies between 2-3 %.

And the reason for their high pricing is due to their high fraud protection.

2. PayPal

PayPal is an internationally acclaimed brand that has recently started to expand its network in South Asia, especially India.

 And that is why their documentation part is extremely difficult, where they keep asking for redundant documents. 

Also, the customer service isn’t well-trained, and they fail to address our doubts, hence making the onboarding process complex.

Also, their user interface is probably the worst on this list, and they need to work on it. The only thing Okayish in PayPal is their reports.

3. Paytm:

Paytm is the first indian company on the list, and I would say, Paytm is the victim of its success.

Even though it is an amazing payment gateway, due to their so big client base, they have made the onboarding process a bit trickier, which means it could take months to get even started.

In pricing, they are extremely competitive, yet they have a limit of 20,000 for beginners who have credit and debit cards.

Their user interface is really good, and their reports are also well managed.

4. RazorPay:

Consider RazorPay as the upgraded version of Stripe, because they have fixed all the missing things Stripe lacks.

They have an amazing UI, the onboarding process is pretty easy, and the reports are also well managed.

But regarding the pricing part, they are extremely competitive, as the pricing varies between 2-3%.

5. PayU:

With PayU, I would say that the onboarding process is a bit tricky and could be improved a lot.

But unlike others, it has decent pricing, although a bit competitive,

And their documentation is their USP, because it’s top-notch.

Also, their user interface is pretty nice, while their reporting is average at best.

6. InstaMojo

Instamojo is one of the most in-trend payment gateways right now,

And going on to their features, they have a pretty good onboarding process,

All you need is tax information, bank details,

And regarding the pricing, it’s competitive, quite similar to PayUMoney or RazorPay, where they charge you 3 rupees extra per transaction.

Also, their documentation is pretty solid; you can’t complain about anything.

And regarding their User Interface, it’s very customer-friendly.

Their reporting is something they are lagging a bit on, so if they introduce more graphs and charts for a better visualization, that can be a great thing.

READ MORE: Top 10 Shipping Partners in India: Pros and Cons

7. CashFree

The USP of CashFree is that they have a pretty seamless pricing aspect.

Their documentation isn’t as strong as others on the list,

Their user interface and reports are pretty much decent at best.

Overall, it's a decent payment gateway, nothing special.

One thing is that they have no restrictions on current accounts or savings accounts; they accept all of them.

And with that, let’s move to one of the best payment gateways in the market.

8. CC Avenue

CC Avenue is a pretty solid contender for being the best in this list, and none of the brands I’ve mentioned above come close to it.

The second closest to it is stripe, so you know how important it is.

The reason is that they have an amazing user base, and chances are you might have seen them on a variety of websites.

The only problem they have is the onboarding process, as it might take months to get on the application.

Their pricing stays very competitive, and their documentation is amazing, with a lot of blogs and articles available, which can be integrated into almost any tech stack.

And in the payment criteria, they provide you with an insane number of options,

9.BrainTree

It’s a PayPal subsidiary company, and I would say their documentation is very good, but it’s not user-friendly in India; it's mostly compatible with credit cards.

And if you are looking for US-based ecommerce, only then can one say that Braintree is good, as it supports all the PayPal and Venmo features.

While I could dive deeper here, I’ve already covered 10 FREE Shopify Apps that can skyrocket your revenue overnight in one of my previous YouTube videos.

10: Apple Pay:

Last but definitely not least,

Apple Pay is also more focused on the US market, and I would like to tell you that although it is US-centric, if you ever get a chance to work with them, don't miss it, because it is a new experience and worth it.

Regarding their other features, like pricing and onboarding, I would term them as decent.

The onboarding process can sometimes get a little bit difficult.

These features can be improved, whereas their user interface is also pretty mid and can be improved drastically.

Especially the documentation part, where you can face a lot of troubles,

Also, regarding the pricing part, if you have to sell to subscribe to monetize, then each one of them has different pricing options, which can get confusing at times.

So with that, the list comes to an end, they are all great payment getaways, having their own merits and demerits.

So it would be best to use them according to your business needs.

I hope this helped! 

Until then, Happy Digital Learning 😍