top payment gateways in india

Top 10 Payment Gateways in India

If you intent to sell products online using your ecommerce website, you need to have a payment gateway account to collect online payment from your customers. Your payment gateway account allows your customers to make payments by credit, debit cards, net-banking & cash cards.

We have closely worked with several payment gateway providers & have till date facilitated payment gateway accounts for about a hundred of our customers. We regularly communicate with almost all payment gateway providers in India. Therefore, we thought to write a brief review to cover top 10 Indian payment gateways for you.

Below are the key parameters which are important for you to consider while selecting a payment gateway.

1. The cost of a payment gateway

Almost all payment gateway players require a onetime Set-up fee (which ranges from 5000 to 50,000) And then they charge you a % of commission (TDR) on every transaction that happens over your e-commerce website (Ranges from 1% to 5%). In addition to TDR & set-up fee, they also charge you yearly Annual Maintenance Charges (AMC) which range from Rs. 1200/year to Rs. 3600/year.

2. Merchant Support & Service

Opening a Payment Gateway a/c is much the same as a bank a/c. It is important to have a decent connection with the service provider. Also, that is conceivable just if the service provider gives great support. From guaranteeing minimum bother in opening the a/c to smooth operations later on; they ought to be pleasing and act sensible with an understanding state of mind.

3. User-interface of Payment Page

This is the main substantial component of an payment gateway provider. Also, YOUR clients need to collaborate with this page to make the payments to you. So before you sign-up with anybody, verify they have a decent & easy to-utilize payment page.

4. Other Basic things

There are other essential basic things which despite the fact that are underestimated, ought to be cross-checked with the provider that you are considering. For instance – Multiple Payment Options, Stringent Fraud Check Processes, High Uptime, Reliable organization / administration, Sandbox environment, integration API, support for your CMS etc.

Advice : If you are planning to accept online payment on your ecommerce websites, you better start now (at least 30-45 days before you actually want to start accepting it).

Please note: Paypal is very restricted in India (thanks to RBI regulations) and thus does not come into consideration for any retailers who wants to sell in India.

Here is the list top 10 Indian Payment Gateways & we have simply rate them on the above 4 parameters (based out on our experience & little research) :

1. CCAvenue

CCAvenue is a leading Payment Gateway Provider in India, authorized by Indian financial institutions, to appoint Sub Merchants. They accept and validate Internet payments via Credit Card, Debit Card, Net banking, ATM-cum-Debit Card, Mobile Payment and Cash Card modes from the end customers in real-time.

  • Setup Fee : Rs. 0
  • TDR% : Credit Cards – 1.99% || Debit Cards – 1.99% || Net Banking – 2.99%
  • AMC : Rs 3600 (Waived for 1st Financial Year from the date of Activation)
  • Service: 8/10
  • User-interface: 8/10
  • Basic things: 8/10

2. PayuBiz

PayuBiz have actually come up with some good features. Currently offering the lowest TDR in the market. Currently being used by biggies like Jabong, SnapDeal, BookMyShow and Ferns and Petals. Seems to be more customer friendly than others 🙂 They have definitely maintained their customer service levels, even as they have grown. The USP of this payment gateway is the good practices which they claim results in 12% better conversions.

  • Setup Fee : Rs. 4900
  • TDR% : Credit Cards – 3.9% || Debit Cards – 3.9% || Net Banking – 3.9%
  • AMC : Rs 2400 (Waived for 1st Financial Year from the date of Activation)
  • Service: 8/10
  • User-interface: 8/10
  • Basic things: 7/10

3. EBS

EBS, now is a fully owned subsidiary of Ingenico Group. With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services. E-Billing Solutions (EBS) established in the year 2005 is headquartered in Mumbai. It facilitates online purchases from a merchant’s website and helps them to collect payment from the end customers through net banking, credit and debit cards etc.

  • Setup Fee : Rs. 4799
  • TDR% : Credit Cards – 3.75% || Debit Cards – 1.5% || Net Banking – 3.75%
  • AMC : Rs 2400
  • Service: 7/10
  • User-interface: 7/10
  • Basic things: 7/10

4. DirecPay

DirecPay works as a one-stop payment gateway provider for merchants who accept online transactions. They enable you to accept payments through cash, cheques and demand drafts with ease. You can accept online payments through various pay modes including Credit Card, Debit Card, Internet Banking and Mobile Payments.

  • Setup Fee : Rs. 5000
  • TDR% : Credit Cards – 6.5% || Debit Cards – 6.5% || Net Banking – 6.5%
  • AMC : Rs 2400
  • Service: 5/10
  • User-interface: 6/10
  • Basic things: 7/10

5. Atom Payments

Founded in 2006, atom is a Payment Gateway company providing B2B & B2C payment services through Online, IVR, Mobile & POS

  • Setup Fee : Rs. 35,000
  • TDR% : Credit Cards – 2.99% || Debit Cards – 2.99% || Net Banking – 2.99%
  • AMC : Rs 2400
  • Service: 5/10
  • User-interface: 6/10
  • Basic things: 7/10

6. Paytm

Paytm is a new player in the payment gateway market but they are refining their platform and services. They have one of the best user interfaces around, for a payment gateway. As of now, they are powering major online sites like Snapdeal, Homeshop18, ITC Hotels, Dishtv, PVR, Bagittoday.com. Considering the are still very new, the processing of all applications may take a few more days than usual.

  • Setup Fee : Rs. 5000
  • TDR% : Credit Cards – 2.9% || Debit Cards – 2.9% || Net Banking – 2.9%
  • AMC : Rs 2400
  • Service: 5/10
  • User-interface: 7/10
  • Basic things: 7/10

7. PayuMoney

PayU India is the flagship company of Naspers group which is a $25 Billion internet and media conglomerate listed on London and Johannesburg stock exchanges respectively. PayU provides state-of-the-art payment gateway solutions to online businesses through its cutting-edge and award winning technology. PayuMoney is the consumer facing brand which allow merchants as-well-as buyers to transact securely. They allow providers various tools to grow your sales and allows you to accept payment anywhere anytime. Also, payumoney can be integrated on your website.

  • Setup Fee : ZERO
  • TDR% : Credit Cards – 2.0% || Debit Cards – 2.0% || Net Banking – 2.0%
  • AMC : NIL
  • Service: 6/10
  • User-interface: 6/10
  • Basic things: 7/10

8. Citruspay

DirecPay works as a one-stop payment gateway provider for merchants who accept online transactions. They enable you to accept payments through cash, cheques and demand drafts with ease. You can accept online payments through various pay modes including Credit Card, Debit Card, Internet Banking and Mobile Payments.

  • Setup Fee : Rs. 15000
  • TDR% : Credit Cards – 3.5% || Debit Cards – 2.5% || Net Banking – 3.5%
  • AMC : Rs 4900
  • Service: 6/10
  • User-interface: 6/10
  • Basic things: 7/10

9. Zaakpay.com

Zaakpay is a payments gateway provider based in New Delhi & Bangalore. They offer Webpay as product to accept credit & debit card payments. In terms of product & service, they are still at the foundation level. So there is a lot of new product that needs to be built bottoms up.

  • Setup Fee : Rs. 5000
  • TDR% : Credit Cards – 3.9% || Debit Cards – 2.9% || Net Banking – 3.9%
  • AMC : Rs 3400
  • Service: 5/10
  • User-interface: 6/10
  • Basic things: 5/10

10. EMVANTAGE

EMVANTAGE, a PCI-DSS V3.1 certified Payment Platform is one among the best in industry standards in Data Security, Fraud Prevention & Transaction Processing. EMVANTAGE has been developed with the objective of bringing the latest technology and resources together with continuous system enhancement keeping pace with the evolving, industry-best standards- at no additional cost to the Bank.

  • Setup Fee : Rs. 10,000
  • TDR% : Credit Cards – 2.75% || Debit Cards – 1.5% || Net Banking – 2.75%
  • AMC : Rs 3400
  • Service: 4/10
  • User-interface: 4/10
  • Basic things: 5/10

There are other reliable one’s like Billdesk.com which have really high charges but offers the widest payment options.