Payment Gateway is an online medium using which an online retail shopper can pay the merchant for the product they want to buy.
For the development of the eCommerce sector, the payment gateway played a crucial role. Technological advancement along with expanding internet access encourages customers to purchase online.
In India, the payment gateway market is expected to grow by more than CAGR 20.11% from 2022 to 27. To meet the demand, several payment gateways in India offer phenomenal services using their platform.
Choosing the best among them can be difficult, but do not worry, here, is the list of the 10 best payment gateway in India that you can use.
But, before that let’s evaluate the methodology used for scoring the payments gateway.
Table of Contents
Factors Considered for Choosing the Best Payment Gateway
The following are the factors considered for choosing the best payment gateway-
Security
Security is the top priority that is considered when choosing the best payment gateway. The payment gateway needs to protect the fund transaction from unwanted interference like form hacking to keep the financial details safe.
Integration
Technology integration with the app or website is important to ensure there is no additional cost that is to be borne by you. If your web or app platform is designed to handle certain codes and the code of the payment gateway is different then this leads to a bottlenecked integration. Therefore, choosing a payment gateway which perfectly integrated into your platform is important.
UX Experience
The experience that a user has while using your service will determine how good a payment gateway is. Your customer must feel at ease while making payments to avoid any drop rate. if the payment interface is difficult then finding the payment gateway can be difficult.
Payment Options
Whichever payment gateway is being used, there must be multiple payment options that should be provided to the user to ensure there are no payment ways left.
Fees
The last most important factor is the fees charged by the payment gateway to offer the service. The fee charged by the payment gateway should be minimum for the merchant making it profitable for the business.
10 Best Payment Gateways in India
Razor Pay
Razor Pay is one of the best online payment options that you can choose from. The integration of the razor pay into your website or mobile app is easy. With 100+ payment methods, there will be no problem in getting your customer payments.
One of Razorpay’s unique features is its ability to support international payments. This allows businesses to accept payments from customers in other countries, which can be especially useful for companies that operate globally.
Razorpay also offers a range of value-added services, including subscription billing, payment links, and smart collect, which makes it easy for businesses to collect payments from their customers.
Paytm
Paytm is a very popular payment gateway, Paytm Payments Bank, and eWallet service provider. Paytm accepts payment for the merchant as well as offers to make payments.
It is a complete fintech digital solution for all payment needs. It allows users to make digital payments, including mobile recharges, bill payments, online purchases, and money transfers. Paytm is widely used in India for its ease of use, security features, and convenience.
With highly secure servers and high uptime, the Paytm payment gateway is the best option for an individual who wants to have a safe, fast, and reliable payment gateway. Additionally, Paytm also provides complete payment solutions.
Overall, Paytm is a reliable and convenient payment gateway for users in India, offering a range of features and security measures to protect users’ information and transactions.
PayPal
PayPal is a world renounced online payments gateway that accepts payments in multiple currencies and operates in multiple countries. If you want to make your business go global then PayPal is the best payment gateway for you.
Since it can be accepted in multiple currencies and multiple countries, you can expect your business to go global and ensure the process of international business becomes much more smooth.
PayU
PayU is a global online payment service provider which provides payment solutions to businesses and startups.
It accepts credit card payments, debit card payments, e-wallets, UPI, and online banking. It is headquartered in Amsterdam, Netherlands.
It operates in more than 50 countries worldwide and has partnerships with various banks and financial institutions to ensure secure and reliable payment processing.
Ippopay
Ippopay is a payment gateway provider that offers online payment solutions to businesses in India. Ippopay offers a range of payment options, including credit and debit card payments, net banking, and mobile wallet payments.
The company aims at providing solutions to businesses by accepting online payments easily and securely, while also providing a positive payment experience for their customers.
Bill desk
BillDesk offers a range of payment services including online bill payment, mobile payment, and online payment gateway services to individuals and businesses.
BillDesk has partnerships with over 100 banks in India, and its payment gateway services are used by more than 1,000 merchants across the country.
The company has received several awards for its payment processing services and is recognized as a leading payment gateway provider in India.
CCAvenue
CCAvenue is a popular payment gateway in India and is also a provider of some of the Government portals as well. So, the reputation and security of the CCAvenue are unquestioned to date.
CCAvenue offers a range of payment solutions for businesses of all sizes, including credit card payments, debit card payments, net banking, mobile payments, and more.
The company offers features like multi-currency support, real-time transaction monitoring, and fraud detection to ensure safe and reliable payment processing.
ePaisa
It is an India-based Payment gateway provider and offers a multitude of payment solutions to businesses. The company was founded in 2012 and is headquartered in Mumbai, India.
ePaisa offers payment gateway services that include credit and debit card payments, mobile payments, net banking, and more but not only that it also offers features like inventory management, sales analytics, and loyalty programs for small and medium-sized businesses.
This makes it unique and attractive for small businesses who want 10 in 1 kind of offers to run their business smoothly within their budget.
The company’s payment solutions are designed to be easy to use, affordable, and customizable to meet the needs of different businesses.
JusPay
JusPay is an Indian startup payment gateway that gained popularity in the last decade or so. It is headquartered in Bengaluru, India, and offers a range of payment solutions to businesses, including payment gateway services, UPI payments, and mobile wallet integrations.
It is designed to be easy to integrate into websites and mobile applications, and the company offers features like real-time transaction monitoring, fraud detection, and user-friendly payment interfaces.
Instamojo
Instamojo is an amazing payment solution cum eCommerce platform based in India. It offers a range of payment solutions to small and medium-sized businesses, including payment gateway services, online store creation, and digital product distribution.
The company’s payment gateway services allow businesses to accept credit cards, debit cards, net banking, and UPI payments.
In addition, Instamojo offers features like order tracking, invoicing, and inventory management to help businesses manage their online stores.
Conclusion
India has a thriving payments industry and a huge digital infrastructure perhaps the best in the world hence offering a range of services to businesses and individuals.
From well-established companies like BillDesk and CCAvenue to newer players like Razorpay and Instamojo, there are many options to choose from.
With most of them supporting both domestic and international payments with multiple currencies, you can expect your business to not only be present ready but also future-ready if you want to expand your business globally.
The security, reliability, and functionality of a payment solution help develop a safe and sound ecosystem using which the entire eCommerce Industry and connected industry can flourish and prosper.
It is an understatement to say that due to the increase in the digital ecosystem the planet has seen an eCommerce revolution in the past decade and it is not going anywhere soon, especially in India.
As the digital economy continues to grow in India, the payments industry is expected to grow along with it, providing even more options and opportunities for businesses and consumers alike.
I’m Shiv Kumar, a graduate with a passion for finance, marketing, and technology. My journey into finance started with a desire to understand money management and investing.
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