Top 5 Best Payment Gateways in India 2020 (With ₹500 BONUS)

best payment gateways

Are you running an online business or want to sell something online? Then, you may need a payment gateway to accept payments.

A payment gateway is a service that provides different methods of online payment for buyers. Here are the 5 best payment gateways in India.


Best Payment Gateways in India

If you search for payment gateways in India, you can find a lot of them. Choosing the best one is quite difficult that fits your needs.

Hence, here are the best payment gateways with their features, transaction fees & payment methods so that you can choose easily.


1. Razorpay

razorpay

One of the popular payment gateway used by many sellers in India. It has many payment methods including wallets, international cards, NEFT, etc.

Features –

  • Custom Payment Pages
  • Run promotional offers
  • Payment gateway Integrations
  • Subscription Plan for customers

Payment Methods –

  • UPI
  • Credit & Debit cards, including International
  • Netbanking
  • Wallets – Mobikwik, Freecharge, Amazon Pay, Ola Money, PhonePe, JioMoney, Airtel Money & Payzapp
  • NEFT/RTGS/IMPS

Transaction Fees –

  • Zero setup fees & maintenance charges
  • 2% per transaction (India)
  • 3% per transaction for international cards, EMI & Amex
  • 18% GST applicable on transaction fees
  • For domestic transactions – 2% Transaction charge + 0.36% GST*  = 2.36% per successful transaction. 
  • On International/AMEX/EMI transactions –  3% Transaction charge + 0.54 % GST* = 3.54%.

2. PayU

payu

PayU is another popular payment gateway in India that provides a seamless way to collect payments from your customers.

Features –

  • Custom website with built-in payment gateway
  • Run subscriptions
  • Payment at the physical store via QR code

Payment Methods –

  • Credit & Debit cards, including international
  • Netbanking
  • UPI
  • Wallets – FreeCharge, Airtel, Ola Money, PayZapp, Oxigen, Yes Wallet, YPay, PayCash, JioMoney
  • Pay Later – LazyPay & Ola Postpaid
  • EMI

Transaction Fees –

  • Zero setup fees & maintenance charges for domestic.
  • 2% + GST (18%) for each transaction.
  • For Example,
    Customer Paid: ₹ 100
    Transaction charge: ₹ 2
    GST: ₹ 0.36
    Amount settled: 100 – 2 – 0.36 = ₹ 97.64

3. Instamojo

instamojo

The best platform to sell physical & digital products. One of the old but great payment gateway to set up your own online store & sell things.

Features –

  • Custom online store
  • Payment gateway integration on the website
  • Various apps & services

Payment Methods –

  • NEFT/RTGS/Bank Transfer
  • UPI
  • Domestic Credit & Debit Cards
  • Netbanking
  • Wallets – Freecharge, Ola Money, JioMoney, Mobikwik
  • International Cards (but not international transactions)

Transaction Fees –

  • 2% of the amount + ₹ 3 per transaction excluding GST for domestic transactions
  • For Example,
    Customer pays you: 1000 (Domestic)
    Instamojo fee: 2% of 1000 + 3 = 23
    GST on Instamojo fee: 18% of 23 = 4.14
    Amount paid out to your bank account: 1000 – (23 + 4.14) = INR 972.86
  • International Cards – 3% + INR 3

BONUS

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4. CCAvenue

ccavenue

One of the largest payment gateway used by top businesses in India for collecting payments. It is available in many languages & currencies.

Features –

  • Easy customization
  • Retry Payment option
  • Card storage vault
  • CCAvenue storefront
  • iFrame integration
  • Automated subscriptions

Payment Methods –

  • Credit & Debit Cards, including international payments
  • Netbanking
  • Wallets – Freecharge, Icash, Ebixcash, JioMoney, Mobikwik, Oxigen, Paytm, Payzapp, OlaMoney, TMW
  • Bank EMI

Transaction Fees –

  • Zero setup & maintenance fees
  • 2% per transaction excluding GST
  • 0% for Rupay cards & UPI
  • 3% for International cards

5. Cashfree

cashfree

One of the payment gateway in India with the lowest transaction fees & excellent features. With multiple bank payment gateways, get the highest success rate.

Features –

  • Invoicing & tracking
  • Webstore with product hosting
  • Connect Paypal & Paytm
  • Fast settlements

Payment Methods –

  • Credit & Debit cards with international payments
  • UPI/IMPS/NEFT/Net Banking
  • Wallets – Paytm, Paypal Google Pay, PhonePe, Amazon Pay
  • Pay Later – Ola Money, ePayLater

Transaction Fees –

  • Zero setup fees & maintenance
  • 1.75% on Credit/Debit Cards & UPI
  • 2.5% on Pay Later & Cardless EMI
  • 3.5% + ₹7 on International cards

So, these were the 5 best payment gateways in India to start your online business & collect payments from your customers.

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