The Top 5 Payment Gateways in India

Are you looking for Indian payment gateways? Are you unsure which payment gateway in India is the best? For a better shopping experience, consider integrating a secure payment gateway with your e-commerce sites.

It is tough to choose the appropriate Indian payment gateway. That is why I have prepared a list of the best Indian payment gateways for 2021 that will help you improve your store's online payment experience.

What is a payment gateway?

A payment gateway is an application that simplifies and streamlines the online payment process. It's actually a connection between a merchant's mobile app or website and the bank. When you use a payment gateway to purchase, the merchant's website sends your debit/credit card information to the gateway for confirmation. The payment gateway then confirms the transaction.

List of top payment gateways:

Razorpay
PayPal
CCAvenue
Cashfree
Atom

Razorpay

Razorpay is known for its quick activation and simple integration. You also get a Dashboard if you use this payment gateway to check real-time purchasing data.

Razorpay is popular among small, medium, and large businesses, freelancers, and self-employed people because it is simple to use and secure. The payment gateway enables you to accept payments using various ways, including credit/debit cards, net banking, UPI, and wallets.

Charges

There is no annual maintenance fee.
There is no setup cost.
The transaction fees are subject to an 18% GST.
Per transaction fee:
2% for each transaction that gets completed
3% on international bank cards, EMI, and Amex

PayPal

PayPal can be a feasible alternative for your company. It offers world-class security for making an online transaction. Almost every international credit and debit card is accepted.

PayPal also facilitates the settlement of international monetary transactions. Money can be withdrawn in 56 different currencies by merchants. The company offers smooth shopping with an 82 percent greater checkout conversion rate than alternative payment methods.

PayPal also monitors transactions 24 hours a day, seven days a week, to safeguard clients from fraud. A recurring payment option is also available.

Charges

There is no annual maintenance fee.
The transaction fee for each transaction is 4.4 % + US40.30 + currency conversion charge.

CCAvenueCCAvenue is again one of India's most popular payment gateways. It is simple to use, as well as fast and secure.
There are almost 200 payment choices available through this payment gateway, including 6 credit cards, 58+ net banking, 97+ debit cards, 14 Bank EMI, and so on.

It also facilitates the integration of websites and applications. The transaction page is mobile-friendly and offers a quick and easy checkout process.

Charges

There is no setup cost.
The annual maintenance price is Rs 1200.
Per-transaction fee:
2% for all domestic transactions.
3% for international transactions.
2% for a Credit Card EMI.
4% for American Express / Amex Diners Club.
4.99% for multi-currency choices.
0.00% with a Rupay Debit Card.

Cashfree

Cashfree has grown in popularity as the cheapest payment gateway in India. This payment gateway provides a quick payment service as well as an immediate refund option.

Cashfree accepts credit and debit cards, as well as net banking and UPI. There is also the option of receiving foreign payments. This payment gateway offers a service known as "Cashgram." It creates a weblink that businesses can send to customers to collect payments.

Charges

There is no annual maintenance fee.
There is no setup cost.
There is no minimum annual business requirement.
Per-transaction fee:
Net banking, credit, and debit card transactions cost 1.75 % per transaction.
2.5% per transaction for Pay Later and Cardless EMI
3.5 % + 7 INR per transaction for international cards

Atom

Atom is also one of India's fastest-growing payment gateways, with over 50 banks and 256+ payment choices, including credit cards, debit cards, IMPS, and more. Atom offers an express checkout page to speed up the transaction.

It has a high-security encryption system for security reasons. Customers receive an invoice after purchasing an item using Atom.

Merchants can use Merchant Console to keep track of all payments and traffic. It is adaptable with a multi-currency system. Integration with websites and applications is possible.

Charges

There is no annual maintenance fee; however, starting the second year, you will be charged Rs 2400.
The transaction fee is 2.1% on credit cards.
For debit card transactions under Rs 2000, the transaction fee is 0.75%, and for purchases over Rs 2000, the transaction fee is 1%.