WHAT IS PAYMENT GATEWAY? BEST PAYMENT GATEWAYS IN INDIA WITH THEIR CHARGES DETAILS

A Payment Gateway is an eCommerce application service provider service that authorises credit card payments for Online businesses, online retailers, bricks and clicks, or traditional brick and mortar. It facilitates the transfer of information between a payment portal (such as a website, mobile phone or interactive voice response service) and the Front End Processor or acquiring bank.

BEST PAYMENT GATEWAYS IN INDIA

If you are running a startup or small business, it could be quite difficult to choose a Payment Gateway for your eCommerce store.

List of Payment Gateways in India

Razorpay Payment Gateway

Razorpay provides the highest level of tech integration with reasonable price:

Razorpay Payment Gateway service charges are:

Annual maintenance Charge: ZERO

Transaction Fee per Transaction: simple and transparent pricing plan which has no hidden fees: 2% per successful transaction; +1% for International cards, EMI and Amex; No setup fees; No Annual maintenance charges; GST applicable of 18% on the transaction fee.

Key Features of Razorpay Payment gateway service are

International Payment / Credit card Support: International approval is a separate process and takes longer, which is subject to the bank’s approval.

Multi-Currency Support: Does not support

Withdrawal Fees: Zero

Settlement days: 3 days in your connected Bank account.

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PayTM Payment Gateway

Domestic Credit Cards supported: Visa, Master, Maestro, Amex, Discover and Diners

International Credit Cards supported: Visa, Master, Maestro, Amex, Discover and Diners

Pricing of Paytm payment gateway

Initial Setup Fees: Rs 5000. Waived as of now

Annual maintenance Charges: Rs 5000. Waived as of now

Minimum Annual Business Requirement: ZERO

Applicable Fee per Transaction:

Domestic Debit or Credit cards on Visa, Mastercard, Maestro, RuPay: Flat 1.99%

Amex, ezeClick, JCB and Diners: Flat 1.99%

International Credit Cards on Visa, Mastercard: Not supported.

Taxes extra as applicable from time to time

International Payment / Credit card Support: Supported all kind of credit cards.

Multi-Currency Support: Not supported as of now.

Multi-currency transaction charges: Not applicable.

Withdrawal Fees: Zero.

Settlement days: Settlement takes place within 2-3 days.

 InstaMojo Payment Gateway:

Instamojo Payment Gateway service charges are:

Annual maintenance Charge: ZERO.

Transaction Fee per Transaction: Flat fee @ 2% + Rs 3 per transaction

Key Features of Instamojo Payment gateway service are

International Payment / Credit card Support: Not supported

Multi-Currency Support: Not supported. Only INR.

Withdrawal Fees: Zero

Settlement days: 3 days in your connected Bank account.

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Cashfree Payment gateway

Cashfree provides the widest range of payment options: cards (Visa, Mastercard, Maestro, Rupay, Amex), 75+ Netbanking options, Paytm and 6 popular mobile wallets like Airtel, Mobikwik, Freecharge, along with the widest range of PayLater and cardless EMI options such as ZestMoney, OlaMoney postpaid etc.

It also supports UPI, NEFT, IMPS and Paypal. Payment gateway charges are just 1.75% per transaction [Lowest TDR charges in India]. Cashfree also has the fastest settlement cycle of 24 hours to 48 hours.

Cashfree Payment Gateway Charges in India

Initial Setup Fees: ZERO

Annual Maintenance Charges: ZERO

Minimum Annual Business Requirement: ZERO

Applicable Fee per Transaction:

Credit & Debit cards on Visa, Mastercard, Maestro, RuPay, 75+ net banking: Flat fee @ 1.75% + Rs 0 per transaction

Wallets: Paytm, Airtel money, Freecharge, Mobikwik, Ola Money, Jiomoney: Flat fee @ 1.75% + Rs 0 per transaction

UPI: Flat fee @ 1.75% + Rs 0 per transaction

International Credit Cards on Visa, Mastercard, and American Express: Flat fee @ 3.5% + Rs 7 per transaction

Taxes extra as applicable from time to time

Domestic Cards and Internet Banking Options: Visa, Mastercard, Maestro, RuPay, and 75+ net banking

International Payment / Credit Card Support: Supported by Visa, Mastercard and American Express. Option to connect your Paypal account with Cashfree and offer Paypal as a checkout option. Start accepting international payments from day one.

Pay Later and EMI Options: Pay Later (Ola Money Postpaid, Lazy Pay, and ePayLater)

EMI — Flexmoney, Zestmoney and multiple bank EMI options

Multi-Currency Support: 32+ foreign currencies supported. Other currencies also configurable on request.

Settlement days: 24 hours sell today and get paid tomorrow.

PayPal Payment Gateway Service:

PayPal Payment gateway Service charges are:

Annual maintenance Charge: Free, Zero maintenance charges.

Transaction Fee per Transaction: 4.4% + US$0.30 + Currency conversions charges

Multi-Currency Support: Paypal support over 100 currency globally and as a paypal merchant you can keep your earnings in 57 currencies!

Withdrawal Fees: There are no withdrawal fees on PayPal. However, as you will be receiving money on a regular basis from PayPal (Through their Banker-CitiBank) you need to obtain proof of foreign inward remittances in the form of a certificate called “Foreign Inward Remittance Certificate or FIRC”. FIRC is a document that acts as a testimonial for all the inward remittances entering India. Most of the statutory authorities accept this document as proof that an individual or a business, such as a limited company, partnership firm, sole proprietorship firm and others, has received payment in foreign currency from outside the country.

Settlement days: All payments received in your PayPal account will be auto-withdrawn to your local bank account on a daily basis.

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CCAvenue Payment Gateway:

CCAvenue Payment gateway Service charges are:

Initial Setup Fee: Zero, yes Zero

Annual maintenance Charge for a Startup account: Rs 1200

Transaction Fee per Transaction: Variable fee below

Domestic Credit & Debit cards on Visa, Mastercard, Maestro RuPay: Flat fee @ 2%

Wallets: Freecharge, Mobikwik, OlaMoney, Jiomoney, Paytm, PayZapp, Jana Cash, SBI Buddy, The

Mobile Wallet: Flat fee @ 2%

IMPS & UPI: Flat fee @ 2%

International Credit Cards on Visa, Mastercard, American Express, JCB and Diners Club: Flat fee @ 3%

Taxes extra as applicable from time to time

Key Features of CCAvenue payment Gateway are

International Payment / Credit card Support: Supported on CCAvenues. Your eCommerce store can represent your product pricing in any number of currencies. Your customers can check-out on the CCAvenue payment option page using their desired currency with Multi-Currency payment Gateway that supports 27 foreign currencies.

Multi-Currency Support: CCAvenue allows the collection of payments in 27 major foreign currencies and allow your customer to pay in the currency they know best.

Withdrawal Fees: free. Domestic Friday and International Tuesday

Settlement days: CCAvenue settles payments on a weekly basis for all amounts over & above of Rs. 1000, which is the minimum amount required to be kept.

Types of Credit Card Accepted: 6 credit cards such as Amex, JCB, Diners Club, Mastercard, Visa and eZeClick are accepted.

EBS Payment Gateway

EBS payment gateway service charges are:

Initial Setup fees: Zero as a special promotion instead of Rs 9599

Annual maintenance Charge:  Rs 2400 flat applicable every year. Apart from that you also have to pay a one-time setup fee, which is variable, depending on the package you select.

Transaction Fee per Transaction: Variable charges apply depending on the package you select.

Key Features of EBS Payment gateway are:

International Payment / Credit card Support: EBS Payment gateway accepts Visa, Master Card, American Express, JCB & Diners cards issued around the world.

Multi-Currency Support: EBS Payment Gateway supports 11 major foreign currencies so that customer can pay in the currency he knows best. Currency supported are Indian Rupee (INR), American Dollar (USD), British Pound (GBP), Euro (Eur), Arab Emirates Dinar (AED), Qatari Rial (QAR), Omani Rial (OMR), Canadian Dollar (CAD), Hong Kong Dollar (HKD), Singapore Dollar (SGD) and Australian Dollar (AUD).

Withdrawal Fees: Free of cost.

Settlement days: Settlement takes place within 2-3 days. 

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PayUbiz Payment Gateway Service:

Charges are:

Annual maintenance Charge: Variable charges apply.

Transaction Fee per Transaction: Variable charges apply.

Key Features of PayUbiz are

International Payment / Credit card Support: Not supported

Domestic Credit cards supported: Visa/Mastercard/Diners/Amex credit Cards

Multi-Currency Support: No

Withdrawal Fees: Zero

Settlement days: Settlement takes place within 2-3 days.

PayKun Payment Gateway

PAYKUN PAYMENT GATEWAY FEATURES

Setup cost: Zero

Annual maintenance Charges: Zero. No hidden charges

Transaction Fee per Transaction:

Domestic: Flat 1.99% taxes as applicable

Offers 120+ payment options with simple and lowest pricing.

Debit/Credit cards, Master Card, Visa, Diners Club

Net Banking

Wallets

UPI/BHIM

Single QR Code

International Payment / Credit card Support:  No

Multi-Currency Support: No

Withdrawal Fees: None

No of Days to start the transaction: within an hour

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Atom Paynetz Payment Gateway service:

Atom Paynetz Payment Gateway Service charge are:

Annual maintenance Charge: Generally waived off for first year, however second year onwards you have to pay Rs 2400.

Transaction Fee per Transaction:

Credit Cards: 2.1%

Debit cards: for transactions less then Rs 2000 it is 0.75%

Debit cards: for transactions more then Rs 2000 it is 1%

Key Features of Atom Paynetz payment gateway are:

International Payment / Credit card Support: Not supported

Domestic Credit Cards supported: Visa, Master, AMEX, Diners, JCB, Discover

Multi-Currency Support: Not Supported

Withdrawal Fees: Zero

Settlement days: Settlement takes place within 2-3 days.

DirecPay Payment Gateway Service:

charge are:

Annual maintenance Charge: Zero.

Transaction Fee per Transaction: variable transaction fee applies

Domestic Credit and Debit cards on Visa, Mastercard, Maestro, RuPay: Flat fee @ 2%

Wallets: Flat fee @ 2%

NEFT, IMPS, Cash cards & UPI: Flat fee @ 2%

Amex, ezeClick, JCB and Diners: Flat fee @ 3%

Taxes extra as applicable from time to time

Key Features of DirecPay are

International Payment / Credit card Support: Supported with an additional refundable security deposit of Rs 30000.

Multi-Currency Support: US$ is supported for merchants with International Payment Gateway activation.

Withdrawal Fees: Zero

Settlement days: Settlement takes place within 2 days.

Mobikwik Payment Gateway:

charge are:

Annual maintenance Charge: Custom, negotiable.

Transaction Fee per Transaction: Custom, negotiable.

Key Features of Mobikwik are:

International Payment / Credit card Support: All Indian & International Mastercards, VISA, Discover & Diner’s cards acceptable.

Domestic Credi cards supported: All Indian & International Mastercards, VISA, Discover & Diner’s cards acceptable.

Multi-Currency Support: No

Withdrawal Fees: Zero

Settlement days:Settlement takes place within 2 days.

Easebuzz

KEY FEATURES OF EASEBUZZ PAYMENT GATEWAY ARE AS FOLLOWS –

Annual maintenance fees – Zero for lifetime

Transaction Fee per Transaction –

All Domestic Debit cards (Visa, Master, Rupay and Maestro) – 1.5% per transaction

All Domestic Credit Cards (Visa, Master, Rupay and Maestro) – 2.2% per transaction

Netbanking (70 + Banks) – 2% per transaction

UPI (Phone Pe, Bhim, Tex, All banks) – 1.2% per transaction

Wallets (Paytm, Mobikwik, Jio, Oxygen and 7 more) – 2.5% per transaction

Post Paid (Pay Later – Ola) – 2.2% per transaction

EMI (6+ Banks) – 2.5% per transaction

Hope You Choose a best Payment Gateway for your eCommerce store