Top Ecommerce Payment Gateways in India

Financial exchanges have evolved with civilization. In ancient days our ancestors invented a barter system for their payments, and now we, in these digital days, are privileged to have ecommerce payment gateways and digital payments. Payments Transformation

What Is a Payment Gateway?

A Payment gateway is a business service, provided by an e-commerce application service, where payment is made through credit/debit cards, net banking, mobile wallets etc to generate e-business. Formerly, it is an immense task to set up a gateway as it demands a lot of documentation, verification, and a vast setup process. But now, it is a simple process to set up a payment gateway to sell your products. Here we have listed the top ecommerce payment gateways in India.

1. Paytm

Paytm is an acronym for ‘Pay Through Mobile’, founded by Vijay Shekhar Sharma in 2010 and owned by One97 Communications. It paved a highway for digital payments in India. Initially started as a mobile and DTH recharge service and now is a $4 billion company. This is known as the best online payment gateways in India and it is ranked in the top.

Headquarters: Noida. Branches: Bangalore, Chennai, Mumbai, Kolkata, Toronto.

Highlights

Paytm is accepted at over 15 lakhs merchants locations, to buy goods and avail online & offline services.
It is an RBI-approved and protected under Escrow account with a reputed bank and uses a Verisign-certified 128-bit encryption technology which never reveals your data to anyone.
Jabong, eBay, Fabfurnish, Zovi and Uber are some of the merchants that are roped with Paytm.
It allows all major Credit cards, Debit cards and net banking systems.
Through Paytm Wallet you can make cashless payments without internet connectivity, via QR codes or barcodes, along with a One-Time Password (OTP) to pay them.

Paytm Setup Fee Zero Setup Fee. Zero Annual Fee.

2. Instamojo

Instamojo was founded by Sampad Swain in 2011. It provides payment gateway solutions in India, through its financial technology. It has 2,50,000 merchants across the nation and surcharges Flat 2% + Rs 3/- as a surcharge fee, for any user who collects payments.

Headquarters: Bangalore. Branches: Walnut(US).

Highlights

Collect payments using links via Whatsapp, Instagram, Facebook, Email, SMS and @username.
Partnered with ICICI bank to allow individuals and small businesses to collect payments through Unified Payments Interface (UPI).
For Sellers: to sell their products online or offline, they can easily get their account approved by submitting their ID and address proof; Within no time they can create a payment link and share it on their website.
Instamojo servers are encrypted by the 128 bit AES, i.e your password and other details are highly protected.

3. CCAvenue

No Setup Fee.
Pay only when you sell.
- 2% + Rs 3/- for every successful transaction.
- 5% + Rs 3/- for selling digital goods.
CCAvenue is a Merchant Aggregator (Payment Gateway), founded by Vishwas Patel in 2001. It was authorized as a Master Merchant by Indian financial institutions to appoint Sub-Merchants and to accept and validate internet payments. Currently, it has 85% of the e-commerce merchants in the Country. CCAvenue is referred as one of the best ecommerce payment gateways in India.

Headquarters: Mumbai. Branches: Delhi, Hyderabad, Bangalore, Chennai.

Highlights
- It offers the widest range of payment options which includes 7 ATM Cards, 100+ Debit cards, 6 Credit cards, 53+ Net banking, 48 Bank’s IMPS, 16 Prepaid Instruments and 12 Bank EMI to gratify its customers.
- It can collect payments in 27 major foreign currencies and allow the customer to pay in their best-known currency.
- It has a multilingual checkout page offered in 8 Indian languages and 10 International languages, to engage consumers in their native language.
- CCAvenue is registered with Verisign, the world’s best trustworthy Net Authentication Agency, and daily testing is done to maintain its Hackers secure certificate.
CCAvenue Setup Fee Startup Pro
- Zero Setup Fee.
- 1.99% + Rs 3/- for each transaction.
Privilege
- Rs 30,000 Setup Fee.

4. PayUMoney

PayUMoney was founded in 2011 and managed by PayU India, which is a wing of the Naspers Group. PayUMoney serves over 4,000 merchants such as Bookmyshow, Goibibo, Rechargeitnow and others across the nation. PayU also has partnerships with all major national and cooperative banks.When it comes to top indian payment gateways in India PayU Money is the finest payment.

Headquarters: Gurgaon, Haryana.

Highlights

It is linked with 125+ banks, so there is no necessity to open a new bank account. You can utilize your existing bank accounts to receive online payments.
It offers the most affordable Card Swipe Machine, which accepts all types of credit and debit cards at any time and anywhere in India. You just need a PAN card and canceled cheque to get it.
It has a free billing software that fits on your phone, which can create itemized bills, share invoices via whatsApp or email from anywhere and at any time.
It provides a high-level security with 128 bit SSL encryption Secure Socket Layer (SSL) and two factor authentication for encrypting customer data during transmission.
It has 2,88,730 active sellers.

PayUMoney Setup Fee

Zero Setup Fee.
Zero Annual Fee.
2% Flat transaction rates.
1% Extra on AMEX Card.

5.Direcpay

Direcpay is considered as one of the top most ecommerce payment gateways in India and it is brought to you by TimesofMoney Ltd. which is a wing of Times Group of Companies. It was founded in 2008 and is an integrated online payment gateway that offers its services for Indian merchants. Headquarters: Mumbai.

Highlights

Direcpay is highly secured, as it is registered with Verisign net authentication agency and with Norton security.
It can provide extensive research and analyze all transactions made on your website.
It consists of thousands of merchants across India, under various categories like Apparels, eCommerce, Education, Hospitality, Travel etc.
It takes 5 working days to activate an account after document verification.

Direcpay Setup Fee Pro Plan
- AMC – 2,400
- Credit card/Net banking TDR – 2.25%
- Debit Card TDR – 1.25%
Unlimited Plan
- AMC – 2,400
- Credit card/Net banking TDR – 2%
- Debit Card TDR – 1.25%

6.Zaakpay

Zaakpay was founded by Upasana Taku in 2011. Zaakpay’s estimated annual revenue is around $644k, and Sequoia Capital is the primary investor. It achieved 15 to 500+ clients in just 18 months. Headquarters: New Delhi. Branch:Bangalore.

Highlights

Zaakpay offers smooth integration across 22 platforms and multi-currency processing service with 13 currencies.
Zaakpay applies various security techniques to secure your data like Application security, User Account security, API security, Network security, System security and Cardholder Data security.
It accepts all Indian & International Master cards, VISA, Discover & Diner’s cards, credit cards, debit cards and 52 net banking banks.
It offers live chat support to serve and satisfy its customers.

7.PayUbiz

PayUbiz came into existence in the year 2011. It is a high-class engineering product that offers a high success rate, with detailed analytics reports, to satisfy its customers. It has a record of serving 70 out of 100 e-Commerce companies including Snapdeal and Jabong.

Headquarters: Gurgaon. Branches: Mumbai, Bangalore.

Highlights

Among the best ecommerce payment gateways in India, PayUbiz has a dynamic switching option that at once provides 5 bank payment gateway options; If any bank’s server is slow, it automatically switches to another bank for payment.
It accepts Visa, Master, Amex, Diners, Maestro, Rupay and 45+ net banking banks and also supports 13 currencies including USD, GBP, EUR, etc.
It has a high-end technology to secure its customers.
It has an effective switching algorithm that checks the health of different acquiring gateways and directs the transaction to the best gateway, this leads to increase in conversion rate.

PayUBiz Setup Fee Startup Plan
- Debit Card – 0.75%.
- Credit Card/ Netbanking – 2.95%.
- EMI/ AMEX/ IVR/ International Cards – +0.75%.
- Integration Fee – Rs 4,900/-.
Platinum Plan
- Debit Card – 0.75%.
- Credit Card/ Netbanking – 2.25%.
- EMI/ AMEX/ IVR/ International Cards – +0.75%.
- Integration Fee – Rs 19,900/-.

8.Razorpay

Razorpay was founded by Harshil Mathur in 2013. It allows Indian businesses to collect online payments through credit card, debit card, net banking and some popular wallets like Airtel Money, FreeCharge, Ola Money etc. It offers a fast and secure way for merchants, schools and e-Commerce companies to accept online payments.

Headquarters: Bangalore

Highlights

It has 8000+ customers across the nation.
It charges 2% for every successful transaction and 3% for every international card transaction.
It offers Robust Security and Industry standard 100% PCI DSS Compliant & Certified solutions.
It provides EMI (Monthly Installments) facility on all major bank credit cards.
Enables UPI, which is a mobile first payment mode to your online business.
Razorpay Setup Fee
- No Setup Fee.
- 2% Flat Transaction Fee.
- 2% TDR.
- International Cards/ Diners and Amex Cards/ EMI – 3%.
- Service Tax Applicable.

9.Paynear

Paynear was founded in 2013, by a team of highly experienced entrepreneurial professionals who have 10+ years of experience in payment & merchant-centric industry. It consists of a complete payment suit, value added services, and inbuilt business tools, specially designed to simplify the process of payments.

Headquarters: Hyderabad. Branch: Mumbai.

Highlights

It provides a simple and affordable end-to-end payment solution to manage merchant’s stores, and also it tracks sales history.
As it is highly secured it protects every step of the transaction; it offers PCI PTS V3.0 certification including open protocols, EMV Level I & Level II certified, PCI DSS certified solution etc.
It has a web based portal to generate real-time analytics and can track daily, weekly, monthly sales and manage your best selling items.
Accepts all major credit cards, debit cards, net banking and wallets and also offers equal monthly installments.

10.EBS

EBS is an acronym for “Electronic Billing Solutions”. It was established in 2005. It favors online purchases, from a merchant’s website and helps those merchants to collect payments from end customers through credit cards, debit cards, and net banking etc. EBS is now a fully owned subsidiary of Ingenico Group. Headquarters: Mumbai Branches:Delhi, Kolkata, Hyderabad, Bangalore and Chennai.

Highlights

It offers a variety of 6 Credit cards, 73 Debit cards, 8 Prepaid cards/wallets, 50+ Net banking and 8+ Bank EMI.
It is the first Indian merchant account provider to achieve the PCI DSS 3.0 standards of compliance.
It is one among the highly secured payment gateway sites in the world, as it is certified and secured by ISO 27001-2013 standard.
Enables transactions in the local language.

EBS Setup Fee & Pricing Zero Setup Fee. Starter
- EMI on Credit Card (9 major banks) – 2.00%.
- International Cards, Amex, ezeClick, JCB, Diners – 3.00%.
Premium: Pricing on request. The above mentioned are the top ecommerce payment gateways in India which are provided by the e-commerce applications.

Conclusion
In this digitalized world the majority of payments are done through digital payments. So, getting a payment gateway that is designed according to your specifications will be a valuable idea and a tool for your business.