Top 10 Best Payment Gateways In India (Cheapest one)

People in India are looking for effortless shopping online. E-commerce is growing at an accelerated pace in India. Net banking, debit card, and credit cards are the favored payment methods for most customers. This makes it necessary for E-commerce merchants to select the best payment gateway for their websites.

A payment gateway is software that makes possible online payment processes simpler and easier. It connects the store merchant’s website or mobile app with the bank. When the payment is made, the card details are sent to the payment gateway for confirmation through the merchant’s website. When the payment is approved, the amount is transmitted to the store merchant’s bank account from the customer’s bank account.

Here we have listed the best payment gateways in India to run your business smoothly. But before that, it is important to consider factors while choosing the best payment gateway for your online store.

Points to be considered while selecting the best payment gateway:

Depending upon the business requirements, here are a few matters to be considered while deciding to choose the payment gateway for your E-commerce business.

  • Customers will expect a website that runs with secure payment options. Be sure your payment gateway provider is safe, secure, and certified. 
  • It is important to consider how your business model matches up with the payment gateway provider’s fees structure.
  • It is also very essential to figure out the integration process of the payment gateway to your website. You don’t need to do it yourself, you can hire an expert to integrate a payment gateway to your website.
  • Make sure your chosen payment gateway provides several features like all types of debit/ credit cards and currencies.
  • Choose an ideal payment gateway that makes it easy for your customers to select the payment method of their choice.
  • Check whether the payment gateway provider offers full-time technical support so that your problems get solved easily and quickly.

Top 10 Best Payment Gateways In India

While choosing the best payment gateway for your business, ensure it meets all your requirements. Here are the Top 10 Best Payment Gateways In India to help you decide on an ideal one for your business.

1. Razorpay

Razorpay is one of the popular and powerful payment gateways. To accept, process, and disburse payments, it offers a product suite. It is used by most small and large-scale businesses and also by freelancers because of its quick setup and ease of integration. It supports all payment modes like credit cards, debit cards, UPI, net banking, and wallets. 

Charges of Razorpay Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • 2% per transaction fee for Domestic Cards, UPI, Netbanking
  • 3% per transaction fee for International Cards, Diners and Amex cards, Corporate Credit Cards, EMI
  • 18% GST applicable on transaction fees

2. Instamojo

Instamojo payment gateway allows merchants to create bank accounts for collecting online payments even without a website. It offers simple, flexible, and safe online payments for your E-commerce business. One of the best things about Instamojo is that there are no charges for NEFT, RTGS, or bank transfers.

Charges of Instamojo Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • 2% + Rs.3 per transaction fee for Domestic Debit/Credit Cards, UPI, Netbanking, Wallets, and Pay Later
  • 3% + Rs.3 per transaction fee for International and American Express Cards
  • GST applicable on transaction fees

3. Frstpay

Frstpay is the cheapest payment gateway provider in India. They have the lowest rates in India for payment gateway services. They have quick onboarding, easy setup, and a simple integration process. Frstpay is the cheapest one amongst all the payment gateway providers in India as they do not charge any fees till 1 crore transactions for all new customers. 

Charges of Frstpay Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • No Transaction Fee up to 1 crore transactions
  • 0.5% Debit Card charges below Rs. 2000
  • 1% Debit Card charges above Rs. 2000
  • 1.99% for Credit Cards, Wallets and Netbanking
  • GST applicable on all transaction fees

4. Paypal

PayPal is the best international payment gateway for Indian online merchants. It offers top-class security for payment transactions done through PayPal. It is a reputed payment gateway in India. PayPal has 346 Million active users in over 200 countries. It supports all types of payment methods and 100 currencies for global payment solutions. Hence, it is one of the best payment gateways in India.

Charges for PayPal Payment Gateway:

  • No Maintenance Fee
  • 2.5% + Rs.3 for Domestic Payments
  • 4.4% + Fixed Fee for International Payments

5. FonePaisa

FonePaisa payment gateway makes your mobile phone an interface to accept online payments. The entire payment process can be tracked by mobile phone. It makes the payment process convenient and simpler.

Charges of FonePaisa Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • 0.5% per transaction fee for UPI
  • 1% per transaction fee for Debit Cards
  • 2% per transaction fee for Netbanking and eWallets
  • 2.5% per transaction fee for Domestic Credit Cards
  • 3.5% per transaction fee for International Credit Cards
  • 18% GST applicable on transaction fees

6. CCAvenue

CCAvenue is the best payment gateway that provides a wide range of payment options to E-commerce businesses. It offers 200+ payment methods to make the payment process hassle-free. Other features of CCAvenue include multilingual, multicurrency, ease of customization. 

Charges for CCAvenue Payment Gateway:

  • No Setup Fee
  • Rs.1200 for Annual Maintenance Charges
  • 2% per transaction fee for Domestic Debit/Credit Cards, Credit Card EMI, Netbanking, Wallet
  • 3% per transaction fee for International Cards and Corporate Credit Cards
  • 4%  per transaction fee for American Express / Amex EMI & Diners Club

7. Atom

Atom is one of the popular and widely used payment gateways. It provides 265+ payment options to simplify the experience of customers for online payments. It has gained support from 4500 merchants from all over the world.

Charges for Atom Payment Gateway:

  • No Maintenance Fee for the first year
  • Rs. 2400 Maintenance Fee from Second Year
  • 0.5% per transaction fee for Debit Card Payments below 2000
  • 1% per transaction fee for Debit Card Payments above 2000
  • 1.8% per transaction fee for Netbanking
  • 1.99% per transaction fee for Credit Card Payments (Domestic)

8. PayTM

PayTM has become an ideal payment gateway for small businesses. Its easy-to-use interface makes it the first choice of payment gateway for online merchants. It is the most common payment gateway in India, preferred by the majority of E-commerce store owners.

Charges for PayTM Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • 0.4% per transaction fee for Debit Card Payments below 2000
  • 0.9% per transaction fee for Debit Card Payments above 2000
  • 1.99% per transaction fee for Netbanking, PayTM Wallet, Credit Cards
  • 2.9% per transaction fee for International PG
  • GST applicable on transaction fees

9. DirecPay

DirecPay Payment Gateway is a secure and easy-to-use payment service provider. It is one of the largest payment gateways in India. It has a huge market in India. It offers numerous payment options to increase the customer convenience of the store. It supports international payment, multi-currency, and many E-commerce CMS systems. 

Charges for DirecPay Payment Gateway:

  • No Maintenance Fee
  • 2% per transaction fee for domestic Credit and Debit Card, Wallets, NEFT, IMPS, Cash cards & UPI
  • 3% per transaction fee for Amex, ezeClick, JCB, and Diners

10. Cashfree

Cashfree is one of the best yet cheapest payment gateways in India. With Cashfree the customers can choose a payment method from a wide range of choices. It has 100+ payment options and supports 30 currencies for international payments.

Charges for Cashfree Payment Gateway:

  • No Maintenance Fee
  • No Setup Fee
  • 1.75% per transaction fee for Domestic Credit, Debit, Netbanking, UPI, & Wallets
  • 2.5% per transaction fee for Pay Later & Cardless EMI
  • 3.5% + Rs.7 per transaction fee for International Cards
  • 2.95% per transaction fee for Diners Club and American Express

Summing Up:

So these were the best 10 payment gateways in India. Hope you could easily decide the best fit for your E-commerce business. The above list is the best payment gateways in India and they provide secure payment options to customers so that they can make their payments without worry. It is advisable to choose two payment gateways for your business to provide the customers with better payment options.

Author Bio:

Gaurav Jain is Co-Founder of MageComp and Adobe Certified Expert-Magento Commerce Business Practitioner. Being a Computer Engineer and possessing Extensive Marketing skills he handles all kinds of customer Queries and his Happy & Helping Nature makes customer’s day Delightful. When he isn’t working, you’ll find Gaurav Reading on Books or Traveling. Also, he is Speaker at Magento Meetups.

Adam Hansen