6 Best Payment Gateways To Empower Businesses

Best payment gateways

E-commerce is taking over the world by storm. The current situation is pushing businesses to adopt technology in every aspect with people shifting to a digitalized world. Now is the time to fast-track strategies to empower your business. An efficient and suitable payment gateway will take you miles ahead in this journey.

Though the concept of payment gateways isn’t entirely new, it has become the talk of the town due to the several businesses that were established amid the pandemic-induced circumstances. Be it a startup or an SME, companies that realized the potential of technology and digitalization thrived while the others struggled to even survive. Survival of the smartest is the new success mantra.

To leverage this potential, you need an apt payment gateway that will not just enable faster and efficient transactions but also provide that layer of security, which is extremely important.

As per a survey, 30% shoppers abandon their carts if they face glitches in the checkout process or find the procedure too long and tedious. Customers want the payment process to be quick and secure. Focus on these aspects. Businesses want an affordable and trustworthy experience. You want to include all this and the other aspects that you might not ponder upon but are vital.


Before selecting a payment gateway to integrate with your business website, make sure you tick off these factors:

  • Efficiency
  • Service charges/Annual charges/Transaction charges/Hidden charges
  • User interface
  • User experience
  • Security and protection of sensitive customer data
  • Multi-currency support (if required)
  • International debit and credit cards support
  • Processing speed
  • Integration process
  • After-sales support

Post making the required judgments according to your unique business needs, let us look at the best payment gateways available in India. Remember that every PG has its pros and cons. However, a certain con of a provider might not affect you at all and could be the right partner. Look for what is best for your business, rather than looking at its clientele or other irrelevant aspects. For better decisioning, we have curated the list with highlights of each PG, without mentioning any comparison with advantages and disadvantages.

1) PayG:

With a Made-In-India stamp, PayG is a rapidly growing future-ready payment gateway. With its simple and transparent pricing list, the company offers a fully integrated suite of payments products. You can create an account and start accepting payments from anywhere within minutes. It does not have flat pricing but a tailored price chart, customizable for every sized company. But the most attractive trait of this platform is its bulk payments feature, which makes Payg stand out from others. Bulk payments, recurring payments and invoices are other attractions from this platform.


  • Zero setup fees
  • Custom pricing model
  • Anti-fraud tools
  • All payment options supported
  • 24/7 customer support
  • Virtual POS
  • Payouts
  • Mobile POS
  • Payment link solution

2) Razorpay:

If you have ever bought anything online, you are not new to this name. Razorpay is a well-known payment gateway provider that automates bank transfers, shares invoices, manages the marketplace, avails working capital loans for its users, and collects recurring payments. It is one of the most used PG in India with several features and no hidden charges, offering complete transparency to its customers. Though it does support international credit card payments and other EMS systems, the proceeding times are comparatively much longer. If you do not intend to provide this option for your customers, you may as well go with this.


  • Zero annual maintenance charge
  • No setup fees
  • 2% for every successful transaction
  • 18% GST applicable on the transaction fees
  • +1% on international cards, EMI and Amex
  • Transaction fee per transaction
  • Does not support multi-currency

3) InstaMojo:

One of the fastest-growing payment gateway companies is InstaMojo, which gained popularity and clients in the pandemic as smaller companies, including home-based ones, got online and started selling their commodities. The interface is simple and integrates well with the business website. You may include the convenience charges with your product price or present it at the checkout page as an additional cost to your customers.


  • Zero annual maintenance charge
  • Transaction fees- Flat fee @2% + Rs 3 per transaction
  • Supports only INR, does not support international cards or EMS systems or currencies
  • No mobile app
  • Zero withdrawal fees

4) PayPal:

A globally recognized platform, PayPal is present in over 200 countries and has processed 4 billion payments. 1 billion of these payments were made through mobile phones, underlining its usability across devices. However, it remains a lesser-used PG as Indian Corporations cannot admit Indian credit cards via PayPal.


  • Zero annual maintenance charge
  • 4.4% + US40.30 + currency conversion charge is the transaction fee per transaction
  • Zero withdrawal fees but have to own a Foreign Inward Remittance Certificate to receive payments every day.
  • Mobile app available

5) CashFree:

The only mass payouts payment gateway in India, CashFree is one of the cheapest providers here. It offers settlement within 24-48 hours of raising a ticket. Cashfree also offers payment through international modes of payment as it provides PayPal too as a payment option. However, it has an account activation time of 24 hours, unlike the other listed platforms, which offer instant or only a few minutes-long waiting periods to start accepting payments.


  • Zero annual maintenance fees
  • Applicable fee per transaction- 75% + Rs 0 per traction for Credit & Debit cards
  • 5% + Rs 7 per transaction for International Credit Cards on Visa, Mastercard, and American Express.
  • Additional hidden charges and taxes applicable

6) CCAvenue:

With a wide range of payment alternatives, CCAvenue is one of India’s largest and most used payment gateways. It offers services in 18 languages, fitting into the multilingual culture of India and offering advantages to the business and its customers. It also supports 27 major world currencies, which makes it very apt for businesses planning to expand their customer base to overseas nations.


  • Zero initial setup fees
  • Rs 1200- Annual maintenance fees
  • Transaction fee per transaction:
    • A flat fee of 2% for domestic Credit & Debit Cards
    • 2% for wallets
    • 2% for IMPS & UPI
    • 3% for International Credit Cards
    • Additional charges and taxes
  • Activation time: 3-6 days

Payment gateways are not just to be chosen based on the charges they levy but on the requirements of your business. Ensure you take the decision in the best interest of your business.

Also Read: 5 Reasons To Embrace AI And Machine Learning In Software Testing

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