Best Payment Gateways In India – Comparison & Reviews

After years of research, courage, and innovation you have finally made a product or service you are proud of. Your creation is ready to be out in the world to buy or use, the website looks applicative; you are ready to make it live.

Now the only problem which is bothering you is which payment gateway to use.

Different websites are recommending different gateways. How can one identify which one is best for your business?

This blog aims to answer your questions regarding payment gateways and recommend a few payment gateway options, which are suited for your business.

1. What is a payment gateway?
2. 5 Things to consider before setting up a payment gateway
3. Top 3 Mobile Wallets in India
4. Payment Gateway + Billing Solution
5. Final Notes

What is a payment gateway?

A payment gateway is a technology that helps merchants accept payments through various sources.

For Example- if a business is selling T-shirts online and one customer wants to make an online payment using UPI while another wants to pay through an International card. Without a payment gateway collecting these payments will be a hassle, but with a payment gateway, you can receive payments through a wide range of payment modes.

If you are using a payment gateway, you can accept payments through various credit cards, debit cards, UPIs, and other platforms.

Payment gateway is both online and offline technology. A lot of payment gateways are provided with POS ( point of sale) systems for businesses that make offline transactions.

Investing in a payment gateway technology helps a business increase its visibility in national and International markets.

Until a couple of years back, setting up a payment gateway was a mammoth task. It used to involve a lot of documentation, verification, huge setup feeds, and technical know-how to make it work. But now, it has become very easy to set up a payment gateway for selling your products in India.

When we started ProfitBooks, we researched many payment gateways available in the market, to help find one best suited for your payment needs. We came across many payment gateways which provided a variety of services and customization for different businesses' needs.

The following blog comprises our learning about payment gateways in the market and the different customizations, services, and facilities they provide their customers with.

Now, we understand what a payment gateway is. Let’s see different payment gateways available in the market.

5 Things to consider before setting up a payment gateway

1. Payment gateway cost (Setup fee, TDR, Annual free, etc)
2. Time to setup everything
3. User Interface of the gateway
4. Payment options (Credit/Debit Cards, net banking, Mobile Wallets, UPI, etc)
5. Aftersale Support

From the growing list of payment gateways in India, we carefully picked payment gateways that provide a variety of services suitable for small businesses, businesses that have an international clientele, hospitality businesses, etc.

We compared top payment gateways in India below in accordance with the above parameters.

1. Razorpay
2. Instamojo
3. CashFree
4. PayUbiz & PayUMoney
5. EBS
6. CCAvenue
7. HDFC payment gateway
8. Stripe
9. PayPal
10. OPEN
11. Paykassma
12. A-Pay

1. Razorpay

Headquartered in Bengaluru, Razorpay can be dubbed as Stripe of India. We are following the progress of Razorpay for the past few years and they've been really impressive.

In just a couple of years, Razorpay has launched truly innovative products such as UPI auto pay, Payment links, Subscriptions, Smart Collect (using UPI, BharatQR, ePOS, NEFT, etc) and Payment Pages.

We believe they are the first company in India to launch a subscription product.

At ProfitBooks, we use Razorpay to collect domestic as well as international payments. We've started using it to create 'payment pages' for offering deals on accounting software. Its' super fast and easy.

We also use Stripe for collecting international payments and we feel the same level of confidence while using Razorpay. It's packed with features.

Razorpay also has a very modern-looking interface, giving your businesses a very undated and modern look.

• Setup Fee: Zero
• Annual Maintenance Fee: Zero
• Transaction Fee: From 2% to 3%, depending on the payment mode

Don’t just compare the 2% transaction fee. In 2026, reliability is the real cost factor. Razorpay’s higher success rate captures more revenue, and with zero setup and AMC, Razorpay is often cheaper for growing businesses than budget gateways that lose sales to downtime.

The best part of using Razorpay is its super-simple interface. It's very easy to set up everything. Another great feature is 'subscriptions'. It lets you accept payments on a monthly, quarterly, or annual basis.

I really liked their email notifications. Razorpay sends emails to our subscribers reminding them about upcoming payments or failed transactions. These emails are customizable.

Razorpay's checkout page opens in a pop-up and provides a lot of options to pay. I had to once interact with their support and the experience was good, no issues with that.

Who Should use Razorpay:

Tech companies doing online business, eCommerce stores, subscription businesses, and content creators.

Top clients of Razorpay:

Spicejet, 1mg, Bookmyshow, Swiggy, Grofers, Zomato, Airtel, Zerodha

2. Instamojo

This one is our favorite. Starting in 2012, Instamojo initially offered a way to collect payments for digital goods. But now thousands of users are using it to collect payments for ebooks, reports, tickets, tutorials, merchandise, invoices, services, and much more.

Instamojo is super easy to set up. They have recently introduced instant onboarding. Now, you don’t require any documentation to begin a trial account with Instamojo, simply answer a few questions and get started in minutes.

For a full account, the bank statement and PAN card remain the only requirements. You can create a payment link or button, a page where you can list your products or services or directly request a payment.

Create your free account with Instamojo.

• Setup Fee: Zero
• Annual Maintenance Fee: Zero
• Transaction Fee:2% + Rs.3

We use Instamojo as an alternate payment gateway for ProfitBooks and are extremely happy with it. Support is very responsive and helpful. They keep releasing new features every now and then. With frictionless onboarding, low transaction rate, and an intuitive user interface, I would strongly recommend Instamojo as the best payment gateway for small businesses.

Who should use Instamojo:

event management businesses, online stores, small businesses, etc.

Top clients of Instamojo:

Snapdeals' app Shopo, Online Prasad, UrbanClap, YourStory, Next Big What and others.

 

3. CashFree

Cash free is a next-generation payment gateway that helps Indian businesses both collect and disburse payments via almost 100 payment methods including Visa, MasterCard, Rupay, UPI, IMPS, NEFT, PayTM & other wallets, Pay Later and various EMI options.

According to them, over 3000+ businesses have processed more than Rs 2500 Crores of payments using Cashfree offerings. Cashfree is backed by Silicon Valley investor Y Combinator and was incubated by Paypal.

They offer really unique features such as:

• Plug-n-Play international payments by connecting Paypal account
• PayTM account linking to offer PayTM was a wallet option
• Payout APIs to send money to any bank account, UPI ID, PayTM wallet instantly
• Collections by NEFT-IMPS
• Marketplace vendor settlement
• ‘Pay Later’ options like ePayLater, Lazypay, OLA Credit, and Cardless EMI options like Zestmoney and Flexmoney

We have integrated Cashfree with ProfitBooks so that our customers can send invoices with a payment link.

• Setup Fee:Zero
• Annual Maintenance Fee: Zero
• Transaction Fee:From 1.95% to 2.95%, 2.5% for cardless EMI

Our personal experience with CashFree has been really good. Their rates are low and technical support is very responsive. we like the fact that CashFree folks are continuously evolving the product.

who should use Cashfree:

online stores travel companies, ect.

Top clients of CashFree:

Dunzo, Wedmegood, Xiomi, Eventshigh, ClubFactory, HappyEasyGo, Milaap, Ketto

4. PayUbiz & PayUMoney

The payment gateway solution provider, PayU India, rebranded both its products PayU Enterprise and PayUmoney to establish them as clear independent businesses in May 2015.

Now, PayUbiz focuses on enterprises and is used by large enterprises such as Snapdeal whereas PayUmoney is the consumer brand of PayU India and has a wallet solution for consumers and payment acceptance solution for SMB businesses.

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. In India, they claim to serve more than 4000 merchants.

• Setup Fee:For PayUBiz, plans start from Rs. 4900 and go up to Rs. 29000. For PayUMoney, it's Zero.
• Annual Maintenance Fee: For PayUBiz, it's Rs. 2400. For PayUMoney, it's Zero.
• Transaction Fee:For PayUBiz, it's between 2.20% to 3.90% based on the plan. For PayUMoney, it's 2%.

We evaluated PayUMoney for accepting payments at ProfitBooks and were really happy with the overall experience. Signing up is very easy and you can upload the documents directly on their site for verification.

We specifically liked the option to create ‘Pay with PayUmoney’ button. It's easy to create invoices and send payment links to your customers. We also found the support to be responsive.

As wallet service is integrated with the payment gateway, it adds extra value to the overall proposition. We are not using it now but would highly recommend this payment gateway for a startup.

Who should use payUmoney & payUbiz:

Furniture stores, transportation apps, etc.

Top clients of PayUMoney & PayUbiz:

Jabong, BookMyShow, Freecharge, Zomato, Goibibo, Olx, Ola, ShopClues, Pepperfry

PayU

PayUBiz

5. EBS

EBS is owned by France-based Ingenico Group, which is a global leader in payment processing services. You will find mixed reviews for this payment gateway.

Some of the ProfitBooks customers are happily using it since past 4-5 years but some reviews are really very negative. All we can say is that EBS has been around for a while and considered as a reliable payment gateway.

EBS has recently lowered their charges due to competition and can be opted by small and medium sized businesses.

• Setup Fee :From Rs.4799 to Rs. 23999 based on the plan
• Annual Maintenance Fee: 2400
• Transaction Fee:From 1.25% to 3.75% based on the plan

EBS offers multi-currency processing and has significantly lowered the onboarding time for new users. It offers a decent UI and a good amount of payment processing options. However, we feel the features like ‘Auto Pay’ are a double-edged sword and some merchants may not like it.

Who should use ESB:

Online stores.

Top clients of EBS:

BabyOye, Snapdeal, FirstCry

6. CCAvenue

Launched in the year 2001, CCAvenue is one of the oldest Payment gateways in India. It has recently overhauled the UI of its website and merchant dashboard.

When we were talking with them about integration with our online invoicing software in 2014, they had the slowest onboarding period (15-20 days). Nowadays, they are claiming to complete the activation in 24hrs.

CCAvenue supports almost every bank and payment option, included in (UPI, Indian, and international credit cards) out there. It’s reliable and used by high-volume eCommerce websites like Snapdeal. We would strongly recommend this payment gateway to startups if they wave off the annual maintenance charges completely.

Go for CCAvenue if you are looking for a reliable payment gateway in India that is tried and tested.

• Setup Fee :Zero for Startup Pro Plan, Rs. 30,000 for Privilege Plan
• Annual Maintenance Fee: Rs, 1200
• Transaction Fee:From 2% to 4%

One of the major advantages we liked about CCAvenue is that it supports multiple currencies. That means you can accept payments not only in INR but also in USD, EURO, etc. However, when we inquired about the South African currency, ZAR, they informed us that it was unavailable, tho it's listed on their website.

So, it's important to talk with their support executives before going for a multi-currency option. If your business provides products or services in multiple countries.

CCAvenue also seems to have support for the largest number of banks and payment options. For example, it supports EMI as a payment option from over 7 banks, 100+ debit cards, 53+ net banking, 4 cash cards, 2 mobile wallets and 40+ bank IMPS.

Who Should use ccAvenue:

online businesses travel companies, and online clothing stores.

Top clients of CCAvenue:

MakeMytrip, ClearTrip, Naukri, AirAsia, Yatra, redBus, Myntra and Snapdeal

7. HDFC payment gateway.

HDFC Bank one of India’s most reputed banks has a payment gateway of its Own. The payment gateways provide a plethora of services and are suitable for Indian markets.

Their plans are customizable for different businesses and have a secure POS (point of sale) setup which you can install in your shops.

HDFC payment gateway is also an efficient gateway for businesses that deal in high volumes of money as their translation rate for high volumes is very low. They also accept 16+ foreign currencies and major credit cards, debit cards, UPI, and other payment modes.

HDFC's POS is also accepting all major debit and credit cards.

• Setup fee- 20,000
• Annual maintenance fee- plan specific
• Transaction fee- 3%- 10% (depending on the plan)

Hdfc payment gateway is very beneficial for Indian businesses who mostly deal in Indian markets, its POS is very efficient and easily available, but they do not have a lot of foreign currency options and have high translation rates too (though the rates depend on your plan).

who should use the HDFC payment gateway:

High-volume businesses, stores that require POS systems, etc.

Top clients:

VSNL, Sify, IRCTC, etc.

8. Stripe

Established in 2017, with its headquarters in San Francisco California. The stripe is a very promising payment gateway. This payment gateway is best suited for businesses that deal in International markets, as Stripe has 135+ foreign currency options.

We at Profitbooks use Stripe Payment Gateways to receive International payments. Stripe makes the process easy.

The stripe payment gateway allows you to add an “Autopay” option, though it might not work for some businesses, if you are a business that receives consistent payments, Stripe will be a perfect fit for your business.

Setup fee- zero

Annual maintenance fee- zero

Transaction fee- 2%-4.3%

Stripe is a promising and secure payment gateway, best suited for international clients. They accept all major credit cards and debit cards, but not a lot of Indian cards.

Who should use Stripe:

businesses that sell subscriptions, e-commerce websites, etc.

Top clients.

Amazon, Booking.com, aha, Inc42, peloton, shopity, google and UNICEF.

9. PayPal

Paypal is a trusted international payment, which is expanding its operations for Indian business owners.

Paypal has visibility in over 200 countries and regions and accepts 25+ currencies. If you are a business owner, you have goods or services which you provide internationally. PayPal is a suitable payment gateway for it.

Setup fee- zero

Annual maintenance fee- Zero

Translation fee- 4%

Paypal is an excellent payment gateway to increase your international visibility, they don't have the infrastructure to support regional Indian transactions yet; they are also a little on the expensive side.

Who should use Paypal:

businesses with international clients.

Top clients:

Money matrix, Tillster, Sabre, Insurance Auto Auctions, Autogill groups, United Airlines, etc.

10. EnKash Payment Gateway

EnKash Payment Gateway is a modern payment solution built for merchants that want to accept digital payments securely while simplifying collections and reconciliation. It supports multiple payment methods, including UPI, credit cards, debit cards, net banking, wallets, payment links, and QR code payments, making it suitable for businesses of all sizes.

The platform offers enterprise-grade features such as smart routing, instant settlements, recurring payments, payment links, virtual accounts, and automated reconciliation. Businesses can integrate the gateway with websites, mobile applications, ERP systems, and custom software using developer-friendly APIs, helping streamline payment operations as they scale.

EnKash Payment Gateway is well suited for businesses looking for a payment infrastructure that combines secure payment processing with finance automation. Its PCI DSS-compliant security, tokenization support, and real-time payment tracking help improve transaction reliability while reducing operational effort.

Key Features:

• Supports UPI, credit cards, debit cards, net banking, wallets, payment links, and QR payments
• Smart routing and instant settlement capabilities
• Recurring payments and subscription billing support
• Virtual accounts and automated reconciliation
• Developer-friendly APIs with seamless business integrations

Who should use EnKash Payment Gateway?

SMEs, enterprises, SaaS companies, marketplaces, B2B businesses, e-commerce brands, educational institutions, healthcare providers, and businesses that require secure payment collection with automated reconciliation.

Top industries served:

E-commerce, SaaS, Manufacturing, Healthcare, Education, Logistics, Travel & Hospitality, Financial Services, and B2B Enterprises.

11. OPEN

Open recently became “India’s 100th unicorn.” Open is an excellent Payment gateway for the Indian market. They provide fast approvals and an easy application process. You will also receive the money within 2 working days.

Money can be received through credit cards, debit cards, net banking, UPI,  NEFT/ RIGS/ IMPS, and online transactions.

OPEN also has free subscriptions, for businesses that want to try using a payment gateway for the first time.

Setup fee- zero ( for free subscription), 14,999 ( for paid subscription)

Annual maintenance fee- zero

Transaction fee- 1.95% ( for free subscription), 1.85% ( for paid subscription)

Open is excellent for businesses using a payment gateway for the very first time, it's easy and very user-friendly. The facilities they provide for the free subscription are very useful. Their only problem with open is the fact they don't have any options for foreign currencies.

Who should use Open:

businesses that are using payment gateway tools for the first time.

Top clients:

IIfl finance, Temasek,VISA, Google, Tiger Global, Better, SBI investment, Beenext, AngelList, etc.

12. Paykassma

Paykassma is an international payment gateway designed for businesses that need fast, secure, and chargeback-free transactions. It supports deposits, withdrawals, and settlements through multiple integration options, including payment pages, APIs, and iFrame setups. The platform is commonly used by businesses with global customers or cross-border payment requirements.

Key features

• Supports international payments across multiple countries and currencies

• No chargebacks or rolling reserves

• Quick integration via payment links or API

• Real-time transaction tracking and reporting

• 24/7 multilingual customer support

Best suited for

• Indian businesses serving international customers

• Merchants in e-commerce, digital services, or cross-border industries

• Businesses looking for faster settlements and flexible integrations

To learn more, visit the Paykassma payment gateway in India

Things to consider

• Not primarily focused on domestic India-only payment methods like UPI

13. A-Pay

A-Pay is an international payment gateway that provides businesses in India with access to global and local payment methods. It supports multiple currencies, fast settlements, and is designed for high-risk and cross-border businesses. The platform focuses on seamless integration, reliable transaction processing, and scalable solutions for growing companies.

Top 3 Mobile Wallets in India

In 2015, we saw the rise of ‘payment wallets’. Suddenly, a lot of wallet services popped up and started offering huge discounts to acquire new customers. Some of these popular wallets also offer payment gateway services to the merchants. These wallets can be integrated as an add-on along with the above-mentioned payment gateways.

1. PayTM

What started as a mobile & DTH recharge service is now a $4 billion company. You can start accepting payments from PayTM users using their Pay With PayTM service. You can integrate this payment gateway in your website. Unlike other traditional payment gateways, it will allow payments only from PayTM wallet.

This service is used by Uber, Bookmyshow, Domino’s Pizza, Food Panda and many big companies.

2. MobiKwik

Similar to PayTM, merchants can accept money using MobiKwik wallet. As on 2015, there are over 25 million users that have MobiKwik account and 650+ merchants who are using its payment gateway service.

Its used by online portals like TicketGoose, YepMe, ShopClues and Snapdeal.

3. Oxigen Wallet

Oxigen Wallet is India’s first RBI approved non-bank wallet to be integrated with NPCI allowing instant money transfer from the Wallet to 60+ banks and vice versa using the Immediate Payment Service (IMPS).

Operating since 2004, Oxigen services already has over 1,30,000 retail touch points with over 40 million monthly transactions. You can use the Oxigen Checkout Services by registering as a merchant partner.

Payment Gateway + Billing Solution

What if the payment gateway is already integrated with your billing or invoicing software and you never have to worry about any setup hassles? This is what ProfitBooks billing software offers.

You can quickly connect your Instamojo or Razorpay account with ProfitBooks. When you send invoices to your customers, they’ll see an option to pay using credit/debit cards, net banking, and wallets.

Best part is, when your customers make the payment, the invoice in ProfitBooks is automatically marked as paid and all the respective accounting entires are recorded in the background!

Create a free account on ProfitBooks today and start collecting online payments from your customers.

Final Notes

The whole payment gateway outlook in India is changing rapidly. Apart from traditional payment gateways, we now have options to accept money using mobile wallets. The government is also pushing for digital payments by launching UPI and Bharat QR.

The government of India is on a mission to empower small businesses and startups in India. In the coming years, we will see a rise in new payment gateways.

Making domestic payments and International payments easy and quick. We will also see a rise in different modes of payments like bitcoin and NFTs in the coming years.

As per our experience, you should give importance to a number of payment options provides, ease of integration, and most importantly support while choosing a payment gateway in India. I would also recommend using 2 payment gateways to make sure you never miss a payment from your customer.

I would like to hear your feedback in the comments section below.

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