Top 10 Payment Gateways in India 2022

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The use of payment gateways is on the rise in India. It is not just because of the increase in internet users. But also mainly because of the pandemic pushing individuals towards non-contact payment methods. As per Statista, the Indian payment gateway market which was estimated to be 446.9 million dollars in 2017 will grow up to 1708.1 million dollars in 2025. As the scope increases in this field, the competition increases as well. Keeping this in mind, top payment gateways are trying everything in their capability to stand out for their users. Digital payments have been a boom in Indian markets; with several platforms taking center stage. If you are an eCommerce seller, make sure you don’t lag behind as your customers are all taking the digitized shift. Oddly, even the younger generations are all hopping on the digitalized journey. Therefore modernization is a must for sellers. That being said, do you know which online payment gateway should you integrate into your business? Don’t worry if you don’t here is the guide to help you with this.

What is a Payment Gateway?

Firstly for sellers, a payment gateway is an online payment software that makes transactions easier. Furthermore, these gateways are integrated into eCommerce software to give them an edge in the market. Basically, a payment gateway is a software that provides an online payment service to eCommerce merchants to process e-purchases made by the customers. It reads the customer’s information and transfers it to the customer’s bank account. Therefore making sure that it captures correct data, the availability of sufficient funds to ensure the merchant gets paid. 

In this method, the customer can use any mode of payment for their convenience. This includes credit cards, debit cards, wallets, UPI, or net banking. Which is further processed by the payment gateway software.

How Does a Payment Gateway Work?

A payment gateway works as an intermediary between a customer’s banks and the banks of the eCommerce seller. Every payment gateway includes these key stakeholders in the process:

  • Merchant: A person or a business that is selling a product or the service.
  • Cardholder: This is the customer who is making the purchase from the merchant.
  • Issuing bank: The bank/ financial institution where the customer’s account is present. This person could be a debit cardholder, or an account connected to the debit card.
  • Card Schemes: This is applicable only for customers that use a credit card. In this case, the credit card company that manages the card too is involved to sanction the amount.
  • Acquiring Bank: Lastly, the party involved in the as acquiring bank as the name suggests the bank that acquires the money. In this case the merchant’s bank account.

Step 1: The gateway comes into play when a customer places an online order. S/he can make the payment via COD (Cash on Delivery) or choose to pay online. When a customer chooses to pay online the process begins. 

Step2: The payment gateway starts off by checking the issuing bank for sufficient funds. It checks that the transaction won’t cross the credit limit or the bank account balance.

Step 3: Next the payment gateway encrypts the card information and securely sends it to the card schemes to ensure that the transaction is processed.

Step 4: Once the card scheme approves the transaction, the payment gateway is received back to the merchant website. Where the transaction will be completed.

Step 5: The payment gateway then send the information to the acquiring bank. Where the bank processes the request to transfer the money from the customer’s account to the merchant’s account.

Top Payment Gateways in India


payment gateway 1

Razorpay was founded by Shashank Kumar and Harshil Mathur in 2013. This Indian fintech company provides services to vendors, eCommerce sellers, and merchants. Razorpay provides the users with a system designed to handle end-to-end payments. That can be integrated with multiple websites and apps as well. This fintech company is based in Bangalore and can also be used by organizations after their acquisition of Opfin (a payroll management firm) as well.

The pricing for the same is actually zero for set-up, withdrawal fees, and annual maintenance fees. The only thing you would have to take note of is that the transaction fees are 2-3%. This depends on the method of payments and also on the type of transaction – international or domestic.


  • Razorpay is Integrated with security compliances. 
  • It provides easy integration along with easy understanding of its software.
  • Furthermore, it offers 100+ modes of payment along with international payments.
  • The email feature lets the customers know the status of their transactions.


payment gateway 2

Paytm as the name goes is an abbreviation for ‘pay through mobile’. This India-based multinational company offers a digital payment system for eCommerce and financial services. Based in Noida, Vijay Shekhar Sharma started this fintech in the year 2010 as a DTH and prepaid recharge platform. And today Paytm is available in 11 Indian languages with more than 2 crore merchants in India are using their services.

For Paytm, the transaction fees are 1.99% for Paytm wallet, credit card, and net banking modes of payment. As for the set-up, withdrawal and annual maintenance fees are nil. For more pricing details you can check out their page. Besides this, you would need your business PAN number and business bank account number that should be in your name.


  • Along with wide domestic payment modes; they even support international cards such as Visa, Master, Maestro, Amex, Discover and Diners, and other bunch of payment modes.
  • They offer a dedicated key account manager for your customer support 24/7 via the merchant helpdesk.
  • The user reach of Paytm is around 330 million+ users.


payment Gateway 3

PayPal is one such payment gateway that is an American multinational. It operates in a variety of countries including India and mainly deals with online payment and money transfers. Founded by the name of Confinity with a different business model all together in 1998 and later converted to a digital wallet in 1999. The original establishing founders of the same are Peter Thiel, Luke Nosek, and Max Levchin. Today, PayPal is headquartered in the US, San Jose, and California and has three centers pan India in Bangalore, Chennai, and Hyderabad.

Vendors and online sellers can sign up for this gateway for their business at a minimum fee charged for transactions which are 4.4% and it supports and charges for the exchange rate of currencies as well. You can check their pricing page for more in-depth information about the same.

Do note that PayPal does not support Indian currency due to which Indian merchants have to choose international currency. When an international customer pays on your site it will get converted to US dollars with applicable charges. Later you can convert the amount from your bank in Indian Rupees. Therefore this makes it a better payment gateway if you deal with international businesses often.


  • It supports 100+ currencies on its platform.
  • Also has a reach of 400+ million active users and 20+ years of experience in the field.
  • The business setting of PayPal allows you to expand and grow your business without any hassle of the gateway.

Cashfree Payments

payment gateway 4

Cashfree Payments is an Indian payment gateway and API payment platform. That can support online businesses with their payment solutions. To date, they have onboarded around 100000+ merchants. Headquartered in Bangalore and founded by Reeju Datta and Akash Sinha in 2015. This platform supports several modes of payments and is also integrated by eCommerce platforms like Shopify and Magento.

The pricing for the merchant’s changes depending on the mode of payment. Here most payments have 0% or 1.90% payments structure whereas paying later and cardless EMI are a bit higher (2.5%) and last international payment modes vary 3.5% being the highest.


  • This payment gateway is specially built for the Indian audience
  • The user interface is easy to use along with a dashboard and analytics to keep track.
  • It provides a payment facility through cards, 75+ Net banking options, and mobile wallets, UPI, NEFT, IMPS, and PayPal.
  • Cashfree does not just support 32 + currencies but other currencies are also available on request.


Payment Gateway 5

With CCAvenue you can start your business within an hour as transactions are made easier with this gateway. The parent company is Infibean which is founded by Vishal Metha in 2007. They have their headquarters in Mumbai. And further is claimed to be used by 85% of Indian merchants.

As for the pricing, they offer a paid version called privileged and a free version as well. For the free version, you will have zero fees for the setup. Even so, you will further have to annual software up-gradation charges which are waived off for the first year and are further followed by rupees 1200; that needs to be paid at the beginning of every financial year. As for the transaction fee, depending on the mode of payment the fees vary and for which you have a minimum of 2% and a maximum of 5%.


  • The best and unique part of CCAvenue is that it provides a multilingual checkout page in 18 major Indian and international languages that would widen your customer base across the globe.
  • It even provides multi-currency transactions in 27 major currencies. 
  • The payment gateway lets you design the payment page as per your requirements by including your company logo, colors, etc. 
  • It supports multiple payment modes including credit/debit cards, UPI, wallets, etc. 
  • They even offer a CCAvenue Checkout feature that makes repeated payments easier. Therefore making it easier for your repeated customers.


payment gateway 6

Instamojo is a dual-site where you can build your website and also use their payment gateway solutions. This gateway was founded by Sampad Swain, Akash Gehani, and Aditya Sengupta in 2012. They had the motive to make the internet a trustworthy place for businesses. Currently, it supports around 20 lakhs + Indian businesses for their payment solutions.

This payment gateway is specialty designed for eCommerce businesses and the pricing for the same is around 2% of every transaction plus rupees 3. This is excluding the GST of the transaction made to you.


  • It offers a trial account to give a glimpse of its features with limits on payment transactions.
  • Instamojo which supports multiple modes of payment such as Debit / Credit cards, UPIs, Netbanking, wallets, NEFT/ IMPs also supports international card payments.
  • You can easily embed a pay button on your site with Instamojo.


payment gateway 7

Payu is empowering around 4,50,000+ businesses. This is a fintech business of Prosus, which is a global consumer internet group and is also one of the largest technology investors in the world. This payment gateway started off in the Netherlands and further in 2014 made a Payu India branch. The founders for the same are Jose Velez, Martin Schrimpff, Arjan Bakker, Grzegorz Brochocki, Nitin Gupta, Shailaz Nag.

The pricing bit of this payment gateway varies as you have 3 plans to choose from – Starter Plan, Business Plus, and Business Premium. Covering the free plan (Starter Plan) you have free setup, withdrawal, and Annual maintenance fee. As for the transaction fees, it would charge you 2% + GST. For more details about the plans, you can check here.


  • Payu accepts various payment modes such as credit/debit cards, Netbanking, UPIs, wallets, EMIs, etc.
  • Along with accepting international payments, it even has multi-currency support. 
  • The platform can be easily integrated with different platforms of easy payment.
  • They allow customization as per your brand.


Payment Gateway 8

EBS or E-billing is officially under the parent company as Ingenico epayment facilitates online payments with merchant’s websites for them; therefore enabling them to collect payments via net banking. The headquarters of the payment gateway is in Mumbai. In 2005, EBS was founded by Nishanth Chandran. And is certified by ISO 27001- 2013 standard.

Pricing: The initial setup fee is zero and further for the special plan is charged as per your needs. Besides this, the transaction fees are 2% for net banking, domestic credit, and debit cards. As for any other method of payment, it is 3%. 


  • EBS accepts international payments and even has multi-currency support across 11 major currencies.
  • They offer a customized experience as per your brand.
  • Furthermore, they promise the security of every payment.


Payment Gateway9

PayKun is a reputable finance gateway for several enterprises and caters to all sorts of international and domestic payments. Founded in 2018 by  Nirav Solanki, Vijay Yadav, Deepak Dabhi, Nikunj Yadav, Prashant Kambad, and since then have come a long way.

Offering you transparent payment with zero setup price. For wallets, Net banking, Debit card, UPI the transaction fee is 1.75%; Credit cards have 2% and international modes have 3%.


  • They offer 120+ modes of payments
  • All the modes are available at the lowest transaction cost
  • Further, they offer excellent support via calls, chats, mails
  • Most importantly they provide you with timely payment methods as per the agreed settlement cycle.
  • Lastly, you can accept payments via SMS, email, and Whatsapp, without having to log into the website.

Zaakpay by MobiKwik

Payment Gateway 10

This fintech company offers payment wallets and other payment services. Zaakpay has aims to assist every business to be it small or big and help with excel in the competitive market. Started in 2008 by Bipin Preet Singh and Upasana Taku. Today Mobikwik’s Zaakpay is widely being used by over 108 million Registered Users. Besides that, 3.45 million e-commerce, physical retail, and biller partners.

Pricing for this payment gateway you don’t have to pay any setup non-maintenance fees. Besides this, they offer 2 plans standard and an enterprise plan. The enterprise plan can be adjusted as per your business needs. As for the standard plan, transactions cost varies and you can check that here.


  • They offer hassle-free integration and safe & secure payment processing
  • A dashboard that is fully equipped with robust tools and an efficient payment management system in place.
  • Efficient cost for every transaction to help your business grow. And no hidden charges applied.
  • You will be also offered the option to design a custom checkout page with a smooth UI.


As we witness the growth of the eCommerce economy, it is necessary to get your eCommerce business integrated with upcoming technology. Along with managing your payments digitally, maintaining your multiple online orders of different platforms is also part of digitalization. Browntape provides you with simple and smart software to manage your eCommerce business smoothly. 

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