Online payments have become a part of life, especially when the world is under the COVID-19 lockdown. When you make an online payment, the first thing that comes to mind is the safety of ‘payment gateways’.
Making online payments is simple and effortless and it saves time. Whether you are running an eCommerce store or a startup, the safety of payment gateway in India is important. The best payment gateway of India will ensure the smooth running of your website without any threat to the client’s monetary data.
Which are the Best Payment Gateways in India?
With a plethora of business joining the online bandwagon, it has become imperative for businesses to offer flexible payment solutions to help enhance the customer experience. A safe and secure payment portal is one of the top requirements for all businesses, especially eCommerce business. Thus, if you are searching for the best payment getaways in India, then we’ve got you covered with this list of the top payment getaways in India so you can make the right choice.
What is a Payment Gateway?
A payment gateway is an application process that makes online payment an easier task. It acts as a medium that connects the seller or merchant's website or application with the bank. When you make any payment online through a payment gateway, the merchant's website sends your card, UPI, and net banking details to the gateway for confirmation.
The online payment gateway then verifies your details from the respective bank. After which the amount gets transferred from your bank account to the seller or merchant's bank account.
In simple terms, the payment gateway is a way for a business to collect online or digital payments from apps or websites. Payment gateway secures sensitive information that is given by the user throughout the process of transfer. It ensures complete security by encrypting the data like bank and card details provided by the user.
Top 9 Payment Gateways in India Curated Based on Experience
1. Citrus Pay – All in One Payments App by PayU
Citrus is perhaps the most popular payment gateway in India. It accepts online payments with minimal development, on-boarding process, and easy sign-up. It supports iOS, Android, and Windows. All the payments made with this gateway are seamless and secured. The Citrus payment gateway was merged with PayU in 2016 and the acquisition added more than 30 million to its user base.
Features of Citrus Payment Gateway
- It supports all international cards and domestic cards. It supports MasterCard, Visa, Diners, and Amex cards. The payment gateway offers a multi-currency support feature that provides complete flexibility.
- There is no withdrawal fee charged by the gateway and normal settlement days are T+2 days. There is a list of documents to be submitted before you choose this gateway and it takes about five to seven days to start the transaction.
- Citrus payment gateway supports all eCommerce CMS platforms so it can be easily integrated with any system.
- There is no annual maintenance charge for Citrus, but there is a transaction fee per transaction made by the gateway.
2. Cashfree - Payment Gateway & Payouts for India
Cashfree provides a range of payment options, so it works great in integration. It accepts all major cards and net banking options. It accepts all popular mobile wallets like Paytm, Mobikwik, and Freecharge. It also accepts OlaMoney Postpaid and ZestMoney.
Features of Cashfree Payment Gateway
- It offers recurring bill support that collects payments for subscriptions. It also lets you customize subscription plans.
- Cashfree provides 24 hours of settlement time and has dedicated customer support.
- It accepts online application with only a scanned copy of the PAN Card and address proof.
- It is the cheapest payment gateway as there is no initial set-up fee and annual maintenance charges, and it has a minimum annual business requirement.
- It supports mobile integration with all popular CMS platforms.
3. Atom Payment Gateway
Atomtech – Payment Gateway India?
Atom is an innovative payment gateway in India. It is promoted by the FTP group and supports more than 100 different payment options. The company has more than 4500 strong merchants and a record of 15+ million transactions online.
Features of Atom Payment Gateway
- Atom supports all major domestic credit cards that include Visa, Mastercard, Amex, Diner, Discover, and JCB. However, it does not support all international credit cards.
- There is no multi-currency support and the settlement days are T+2 days. Business registration documents are required for the application.
- It supports all major eCommerce platforms that include WooCommerce, Prestashop, and Magento. It supports only android mobile app integration as of now.
- The annual maintenance charge is waived off for the first year, thereafter you need to pay ₹2400 for the service.
4. CCAvenue Payment Gateway
CCAvenue is the largest payment gateway in India. It offers more than 200 payment options that include all major cards as well. It supports 27 currencies that enable you to serve customers in the global market with multilingual payment options available in 18 different languages.
Features of CCAvenue Payment Gateway
- All international and national cards are supported in CCAvenue. It settles all payments every week for the amount of over ₹1000.
- There is a list of documents you need to submit for application. It takes about 3 to 6 days for the transaction to get started.
- CCAvenue supports all major CMS platforms that include Opencart, Zencart, and WordPress. It integrates with iOS, Windows, and Android for mobile app payment.
- It offers a zero set-up fee with annual maintenance of ₹1200.
5. PayPal Payment Gateway
PayPal is one of the top payment gateways in India. The global payment option is available in more than 200 countries, and PayPal has more than 175 million clients across the globe. It supports more than 100 currencies, so there is complete expediency in payment terms.
Features of PayPal Payment Gateway
- PayPal supports all major CMS platforms, so the tie-up is easy, and the integration process is easy for online retailers.
- There is no waiting period for the transaction, and it can be started immediately after a successful registration. The settlement period depends on payment received and the amount withdrawn.
- The PayPal merchant can be started in no time; the documents required are PAN card, purpose code, and local bank account.
- PayPal payment gateway offers easy integration with iOS and Android. It has zero annual maintenance charges.
6. DirecPay - Payment Gateway India
DirectPay is the best payment gateway that offers convenient options for merchants to grow their business. It also features in the top payment gateways in India. It accepts all modes of payments with cost-effective services.
Features of DirectPay Payment Gateway
- DirectPay supports all international payments and credit cards including Visa and MasterCard.
- It integrates with all the major CMS platforms that include WordPress, Joomla, Opencart, Prestashop, and OScommerce.
- It typically takes about 5 to 7 days to start transactions. It takes T+2 days for settlement. You need business registration documents for the application.
- It easily integrates with Android and iOS for mobile app payments. There is no annual maintenance fee but transaction fee depending on cards.
7. Razorpay – Best Payment Gateway for Online Payments
Razorpay is the only payment gateway in India that admits, practices, and distributes. For this purpose, the company hosts a product suite. It easily accepts different modes like cards, UPI, net banking, and wallets. The payment gateway gives you top-level tech amalgamation at affordable prices.
Features of Razorpay Payment Gateway
- It supports all major CMS platforms including WooCommerce, Shopify, and OpenCart.
- It does not support multi-currency options.
- The transaction time taken after activation starts after all the documents are submitted. It takes about three days for settlement.
- It integrates with Android and iOS via PhoneGap. It is API driven and requires zero manual intervention. It is completely secure and offers real-time data insights.
- Razorpay offers zero annual maintenance charges with no setup fee.
8. Fonepaisa Payment Gateway
fonePaisa Payment Solutions?
FonePaisa is popular for mobile payment integration. It makes your phone an integrated platform so you can easily track payments. All records can be altered and tracked using the gateway. Its interface is simple and not too time-consuming.
Features of fonePaisa Payment Gateway
- fonePaisa supports multi-currency options that include international payments and all credit cards.
- It supports all major CMS platforms that include Joomla, Opencart, and Magento.
- It takes two business days for the transaction to start and T+2 days for settlement.
- The documents required depends on the type of business.
- It easily integrates with mobile app operating systems Android and iOS. Its design is completely mobile-optimized, and it offers subscription payments.
- The annual maintenance charge and set-up fees are negotiable.
9. Paytm Payment Gateway
Paytm is perhaps the best payment gateway for small businesses in India. It is also the most common gateway as its integrated with Paytm mobile wallet. Paytm has gained popularity as a WooCommerce payment gateway in India.
Features of Paytm Payment Gateway
- Paytm supports all domestic credit cards including Maestro, Amex, Visa, Discover, and MasterCard. It does not support international credit cards.
- The transaction starts after two days of submitting all the relevant documents. The settlement days are two or three days.
- There is a long list of shopping carts available with Paytm payment gateway. This includes Magento, Zencart, OpenCart, WordPress, Joomla, and Drupal.
- It lets you integrate with Android and iOS for payment integration.
- There are no withdrawal fees, but an initial setup fee of ₹5000. The annual business requirement charge is zero, but there is an annual maintenance charge on Paytm.
Pick the best one,
You need to look into many factors and features before you choose a suitable gateway for your eCommerce or business site/app. Always look for an interface that is simple to use. Look out for the time it will take for things to set-up.
Find out all the payment options suitable to you. If your focus is on the domestic market, stick to payment gateways that support domestic modes of payments and cards.
Also, look out for set-up fees, annual fees, and TDR. Not all the payment gateways are similar. Your choice may also depend on your business, whether it is a start-up or large-scale venture.
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