10 Best Payment Gateways in India 2024

Payments Gateways are used by a merchant selling products online to facilitate the customers paying for the goods or services over the internet.

It’s the new year 2024 and it’s the best time for customers as well as merchants to trade. The entire eCommerce and online payment process are streamlined and instant.

It also safeguards the interest of the seller by putting money into the pocket of the seller before shipping the goods or services.

India is the country with the highest number of digital transactions and this number is increasing every day. As a business, especially for an eCommerce website, it is important to incorporate a payment gateway into your website.

You will be able to provide a seamless way for your customers to pay for your goods or services. This not only increases cash flow into your business but also decreases product returns.

There are a lot of payment gateways from which you can choose. Below, we have listed some of the best payment gateways in India that you can use.

But first, let’s understand some technicalities of the payment gateway and find out how it works.

How Does the Payment Gateway Work?

The payments gateway is essentially a middleman between your bank and the merchant’s bank. They facilitate the transactions so that it becomes easy for the banks to communicate with each other.

When a customer purchases anything from the portal and clicks on the pay button, the customer gets redirected to the payments gateway. The payment gateway then collects the data and sends it to the customer’s bank.

The customer’s bank will check whether the account has sufficient balance or not and if the answer is yes then initiate the transaction further.

The payment gateway then receives the payment from the customer into their bank account and further settles the funds with the merchant’s bank. For the service, the payment gateway receives a small commission on the payment settlement.

Best Payments Gateway in India

The following are some of the best payments gateways in India you can choose from-

Razor Pay

Razon Pay, a Bengaluru-based Fintech company established in 2014 is one of the market leaders when it comes to digital payments.

They have a robust payments gateway that is secure and fast and also, helps the customers as well as the merchant in transacting efficiently.

Razor Pay offers multiple payment options like credit card/debit card, net banking, UPI payments, etc. which facilitate the customer further.

Instamojo

Instamojo is a simple, flexible, and safe online payment platform that facilitates a lot of eCommerce businesses in transactions. The pricing terms are very transparent with no hidden charges or additional charges.

The integration of the payment interface is easily done using a plugin, API, etc. You get highly analytical data which helps you in tracking the payments made by your customers.

Bill Desk

Bill Desk is India’s oldest and most trustworthy payment gateway which is used even by banks. You can integrate the system into your eCommerce portal easily and empower your portal with a powerful payment interface.

The USP of this payment gateway is that this offers security and your customer will feel safe when transacting using Bill Desk.

PayU Money

PayU Money is a simplified payment solution for your online business. The integration is easy, fast, and requires less effort than other payment gateways.

At the same time, the customer-side interface is user-friendly as well which overall enhances the user experience.

JusPay

JusPay is a popular payments gateway known for its optimized network protocol which makes it faster and improves the loading time of a page.

There is a lot of product that JusPay has to offer in the payments gateway category. You can also get multiple options for payments like card payments, cardless EMI options, and buy now pay later integration.

JusPay is high in features at very good pricing which is the best ingredient for a  good payment system. If you need a one-roof payment solution then JusPay is the place to go.

PayTM

PayTM is yet another popular payment solution for your portal. Started as a wallet for money app and become a huge vendor that provides everything related to digital payments.

Everyone in India who uses Digital payment has used PayTM which makes it easy for the customer to pay using the PayTM app.

PayTM has huge penetration in the Indian market, especially on the customer side which makes it natural for businesses to integrate the payment system into their online portal.

CC Avenue

CC Avenue is a popular merchant-centric payment gateway service provider which provides premium digital transaction service.

The initial setup is free and the transaction fee is also nominal. It is known for its enterprise-grade fully protected payment gateway with PCI DSS-certified security and smart dynamic routing.

Plural

Plural was launched by Pine Labs in October 2021 to provide online payments solutions to businesses. The company got a big jump due to RBI’s hold on new onboarding for a few old players.

IppoPay

IppoPay provides payment gateway solutions for online stores and businesses that want to integrate online payment systems into their website.

It is easy to set up and it’s free to onboard. After verification, the payment gateway will be easily integrated into your website.

PayKun

The payment solution is a mobile-optimized website that provides various methods of the payments like QR transactions, UPI, etc. it caters to various types of entities like enterprises, SMEs, NGOs, eCommerce brands, and many other sectors.

The payment solution is also a mobile-optimized website and the unique feature of this is a single-click easy refund, payment failure downtime options, and subscription payment methods to merchants.

Which one to Choose?

Now, there are a lot of options in India when it comes to payment solutions, however, there are some factors that are very important that you should keep in mind while choosing the payment system for your business.

A good payment gateway must have the following features-

• High success rates
• Multiple payment modes like credit card/pay later, etc.
• Easy and quick onboarding
• PCI-DSS compliant security
• Insightful and intuitive dashboard for tracking payments
• Good pricing
• low setup and maintenance charges

Apart from this, you are also required to keep the integration of the payment gateway into your portal in mind.

If you are a small business owner or a solopreneur, then you should feel comfortable implementing the system into your portal.

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