Technology

6 Best Payment Gateway in India for Online Transactions.

If you are looking for Indian payment gateway options, then it is quite possible that you wish to add a secure payment gateway option with your Magento, WooCommerce, Shopify, or Prestashop stores for a better shopping experience for your clients. When there are so many options available, finding the best Indian payment gateway can be challenging. But you don’t need to stress as we have got your back by covering the best payment gateway in India. As per a recent survey, online payments in India are expected to grow by more than 20%. By the year 2023, it is estimated to reach 660 million Indians using online payment.

Some of the Best Payment Gateway in India you Must Know About:

1. Razorpay

 It is one of the most potent payment options. In 2014 the company was found, and as of now, it has at least 800K customers who use Razorpay payment gateway.

In October 2020, with at least  $1 billion valuations, the company became a unicorn startup in India. To date, the Bangalore-based emerging fintech company has got at least $200 million in funding. Instant activation and easy integration is the specialty of the platform. You also get a Dashboard if you leverage this payment gateway, and you can also see real-time data of purchasing. Small, significant, and large companies, as one can easily use it.

Features:

  • Integration with the website for payment
  • 24/7 support
  • Save saving facility
  • API driven automation that needs zero manual intervention
  • 100+ payment modes

Pros:

  • Real-time currency conversion is possible
  • Zero setup cost
  • Easy integration with less code.
  • Fast and secure payments.
  • Credit/debit card, UPI, net-banking, and more than 100 payment methods.

Cons:

  • in international transactions, the failure rate is high.

2. Cashfree

It is one of the best payment gateways in India because it is the cheapest payment gateway in India, and it provides a fast payment service and instant refund facility. Back in 2015, the company was started, and as of now, it has more than 15000 customers as it supports credit/debit cards, net banking, and UPI. Also, international payment is available.

Features:

  • High security
  • Recurring billing facility
  • Website integration
  • Auto collection of payment
  • Instant refund
  • No setup cost
  • Invoice generation
  • Fraud checking
  • Easy to configure

Pros:

  • Allows multicurrency processing
  • Invoice generation
  • Website and application integration
  • Low transaction fee
  • Auto collection of payment
  • Instant refund facility

Cons:

  • It mainly prefers to work with government-registered businesses.

3. Paytm

The first name that comes to our mind is Paytm when we hear about making an online payment. It is both excellent and effortless to use. All the domestic credit and debit cards supported by the company are linked with more than 50 banks. The user-friendliness is the best part about Paytm. Additionally, it is designed in such a way that everyone quickly understands how to make the payments easy. Zomato, Uber, Adani, Jio, Swiggy are the popular companies that use the platform.

Features:

  • Recurring billing facility
  • Website payment
  • Allows multiple currency processing
  • Easy mobile payments
  • Point of Sale transaction
  • Invoice of payment

Pros:

  • Faster transaction
  • Invoice generation
  • Allows website payment
  • Easy to use
  • Good user-interface

Cons:

  • An international transaction is not supported.

4. PayPal:

Having a global reputation PayPal is one of the best payment gateways in India, and it can be an excellent choice for your business. in more than 200 countries, the payment software giant has a presence. For making an online transaction the PayPal has world-class security as it allows almost every international credit and debit card, and it also supports global currency settlement. The company monitors transactions 24/7 that protects customers from fraud and even a facility for recurring payment. Udemy, MakeMyTrip, ALT Balaji, Gaana are the popular companies that use the platform.

Features:

  • 24/7 customer support
  • Recurring payment
  • Card details can be saved
  • Mobile payments can be made
  • Electronic invoice
  • Website integration
  • International transaction
  • Fraud protection service

Pros:

  • Multiple payment methods
  • Easy recurring payments
  • Secure and fast
  • Payment using QR code
  • Invoice for payments
  • 24/7 customer support
  • International payment can be made

Cons:

  • As charges are high so not advisable for smaller transactions.

5. CCavenue

One of the most popular payment gateways in South Asia, and  India, is CCAvenue. The platform is easy to use, fast, and secure, offering at least 200 payment options, including six credit cards, 58 + net banking, 97+ debit cards, 14 Bank EMI, etc. Air Asia, Lakme India, Myntra, etc. are famous companies which use the platform.

Features:

  • Fraud detection system
  • 200+ payment methods
  • 24/7 support
  • Recurring payments
  • Mobile payments
  • Website integration
  • International transaction
  • Allows multiple currency processing
  • Invoice generation

Pros:

  • 24/7 support
  • High security for fraud detection
  • Zero setup fee
  • Allows recurring payments
  • Fast account activation within one hour
  • Easy integration
  • Allows international transaction
  • Supports at least 200 payment methods

Cons:

  • The security is not perfect.

6. MobiKwik

One of the fastest-growing payment gateways in India is MobiKwik having at least 1.5 million businesses leverage this payment gateway. It aims to provide a smooth mobile-friendly experience. The platform supports credit and debit cards, wallets, international cards, UPI, and EMIs.

Features:

  • Saves card
  • Auto read OTP
  • Website analytics
  • Advanced security

Pros:

  • Good conversion rate
  • Supports international transaction
  • Website analytics to check data

Conclusion

You can choose the best payment gateway in India based on its Safety and Security as the platform must have a safe environment when it comes to making payment and selects the one which takes less time for integration.

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