At times like today, online payment has found its space in every household. When we talk about businesses, the importance of online payment gateways is incomparable. Long gone are the days when people had to stand in never-ending queues in front of ATMs to get cash. Thus with online payment options, transactions in trading are just a cakewalk.
If you are here, chances are you are looking for the best payment gateway for your business. Well, you have landed at the right spot. In this article, we are going to discuss the 10 top payment gateways in India, their features, then their pros, and cons. Dive into the pool of these convenient platforms and forget all your worries.
Here we go!
Razorpay
Razorpay is a Bangalore-based platform that came into existence in 2014. It is one of the best-rated companies out there and offers an easy path for business giants in India. What’s best is, it is secured and in addition to it it is tested to provide its users with the smoothest experience possible.
- Provides for customizable checkout
- Global payment gateway
- Supports a plethora of third-party platforms
- Comes with customer support for installation, upgradation, troubleshooting, and other assistance.
- Works round the clock
- Offers competitive pricing
- Speedy transactions
- Used by prominent business
- Trustable
- Doesn’t offer a trial version
- Could be a little too expensive for small businesses
- Not too internationalized
Paytm
Paytm is not an unknown name in India today. It is used by millions of users today, well, the same is the case with businesses. Big companies like Uber, Swiggy, Adani, etc. use the paytm payment gateway, and hence, it is highly trustable.
- Multi-currency support.
- Generates payment invoices
- User can save cards
- Multiple currency processing
- Supports UPI as well
- Supports debit/credit cards from more than 50 banks
- Easy to use
- Reliable
- Great customer care service.
- Charges for transfers via wallet and cards
InstaMojo
InstaMojo is more of a merchant payment gateway and is recognised internationally. It supports all the well-known e-commerce sites. Since it is widely used today by more than 1,50,000 SMEs and entrepreneurs, it is something that you should not miss.
- Present on both website and mobile app
- Website integration
- Supports net banking, cards, UPI
- No setup fee
- Doesn’t charge for maintenance
- Quick settlement
- Zero withdrawal fees
- Reliable payment gateway
- Doesn’t support international payments
- Customer service is closed on weekends
PayPal
PayPal is one of the most recognized payment gateways all over the world. If your business requires making frequent payments or trading out of the country, then PayPal is the perfect option for you. Since it uses the highest levels of security, there are negligible chances of encountering fraud using this platform.
- Allows recurring payment
- Website integration offered
- One can save cards
- Multiple currency processing
- International transactions supported
- Has an international reputation
- Used by many industry giants
- Payment can be done using a QR code
- Quick and friendly customer support all round the clock
- Higher transaction charges
- Not recommended for smaller transaction
- Sign up might look a little difficult to new users
Cashfree
Cashfree is an all-rounder player out there. It is widely used by businesses today, owing to its user intuitiveness. It is also considered one of the cheapest payment gateways in India. Meanwhile, Cashfree tries to spread its legs in the international market too, it offers many payment options including debit/credit cards, UPI, etc.
- Invoice generation
- Website integration
- Instant refund
- Auto payment collection
- Easy to navigate and configure
- Low cost of the transaction
- Highly secure
- Used by almost 15000 businesses today
- Available only for the businesses registered with the government.
PayU
PayU is a merchant payment gateway that is brought to users from more than 17 countries by a Netherlands based startup. Its award-winning technology is irreplaceable and has landed it immense popularity amount modern merchants.
- Allows checkout page customization
- Invoice generation
- Supports multi-currencies
- Support international payments via UPI, cards, wallets, etc.
- Used by reputable companies like Airbnb, Ola, Netflix
- Provides 100+ payment options
- No setup costs
- Impeccable success rate
- Customer service is available for all hours of a day
- Offered by a foreign-based company and Indian users might encounter delays in payment at times
DirecPay
E-commerce payments have never been made this easy! DirecPay is an integrated, one-stop payment solution for you. Accepting numerous modes of payment empowers businesses to trade in a safe and secure environment.
- PCI/DSS certified
- Includes EMI payment options
- Payment retry option
- Zero withdrawal-free
- Available on both website and app
- Supports international payments
- Is highly reputed and a part of the Times group
- Is widely used by retailers as well to expand their business in India
- Cost-effective
- Uses robust security technology
- Takes a little long for account activation, the time can extend to 5 to 7 days
- Customer care doesn’t work on weekends
PayKun
Supporting multiple payment options such as UPI, credit and debit cards, net banking, etc., PayKun is an engaging payment platform for businessmen. Since it is user friendly and has an intuitive interface, it is becoming quite popular among businesses at current times.
- Secured with Level 1 PCI DSS security
- Supports 100 payment options
- Website and app integration possible
- Allows saving cards
- Payment link sending feature
- Payment settlement in less than 3 days
- Top-notch security
- No setup fees
- Compatible with foreign currencies and international payments
- Point of sale transaction couldn’t be done using this platform
CCAvenue
With more than 200 payment options, the CCAvenue payment gateway will fulfil all your needs. It supports 27 currencies and is offered in 18 Indian languages. If you are a novice in business, this gateway is a safe and less cumbersome option for you.
- Accepts all the major payment options
- Supports 6 credit cards
- Available for both Android and iOS
- No setup fees
- No withdrawal fees
- 24×7 customer care service available
- Easy to use and navigate
- Secure as it requires documents to verify the user
- Charges annual maintenance fees
- Registration is quite a time consuming
- Requires maintenance of a minimum amount
Mobikwik
Founded in 2009, Mobikwik is a native company that is devised specially to cater to the needs of Indian businessmen. It is extremely user-intuitive and being in the market for 12 years, has acquired a lot of trust among its users. If you are a small to medium enterprise, it will surely fit the bill.
- Offers both online website and app
- Supports third party trading platforms
- Complies with PCI regulations
- Customer care offers both phone and mail service
- Reward facility available
- Quite instant in operations
- Easy to use interface of both online website and app
- Offers a free version
- Not suitable for international trading
- No multi-currency or invoice generation facility.
Conclusion
A convenient and reliable payment gateways are like the backbone of any business. If not chosen properly, it can drive a lot of customers and clients away and render unfavorable and failed transactions. I hope the list above has helped you in dredging the most suitable payment gateway for your business. If you think we have missed any efficient platform, do let us know.
Digiteks 
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