18 Most Secured Payment Options for Indian Merchants

18 Most Secured Payment Options for Indian Merchants

Reading Time: 15 minutes

Ecommerce is growing at a bigger scale across India and Asia. Today, people in India are getting accustomed to the ease of shopping online.

Even pandemic made it mandatory for merchants to go online. Going online means starting to accept orders and payments online.

Several brands and startups have already built their businesses online and accommodating orders with money paid on an array of payment gateways.

However, being an Indian merchant, you may have some concerns such as:

• Which are the safe ways to receive payments from my customers?
• Being new into this industry, how would people rely on me?
• With India lacking cyber laws related to digital transactions, how can I bring consumer trust?
• There are so many payment gateways to select from, how do I pick the suitable payment gateway in India for my eCommerce business?
• I have a small-sized business, and nobody knows me, how do I create conviction with my customer?
• I want to accept money from global customers in their currency.
• How do I ensure that the payment procedure is flawless?
• I do not want the payment procedure to take too long.
• I am not sure what types of details payment gateways require today. Do I have the needed documentation for the same?

Other Key Infrastructure Issues include:

• Absence of a digital payment infrastructure, which is why many Indians are hesitant to go cashless
• Not all smartphone owners have the newest models and software needed to use the payment gateways
• Finally, Cash on Delivery (COD) still dictates Indian Ecommerce

Differences Between Payment Gateway, Payment Processors and UPI-based Payment Apps

The difference between a payment processor and payment gateway is- a payment processor enables the transaction by transmitting data amid the customer, the merchant, and the issuing bank.

And a payment gateway is a specific tool that corresponds to the approval or rejection of transactions amid you and your customers. It safely transmits the online payment information to the processor to undertake the life cycle of the transaction.

On the other hand, UPI or Unified Payments Interface is an instant real-time payment system that assists in right away, transferring the funds among the two bank accounts with the help of a mobile platform.

Hence, UPI is a model that facilitates multiple bank accounts to get into a single mobile application.

How Payment Options are bringing Ease? 

While it’s likely to get by with one secure and straightforward online payment means, many customers are initiating to have the anticipation of utilizing their favorite payment methods on eCommerce websites.

So, multiple payment options enable consumers to increasingly checkout on your portal using their ideal payment mode for all purchases.

18 Trending Payment Gateways for eCommerce in India

1. Razorpay

Razorpay is the only payment gateway across India, which enables online businesses to easily process and disburse payments through its effective product suite.

It offers you access to all payment modes comprising credit card, debit card, UPI, and net banking. It also supports wallets including MobiKwik, JioMoney, PayUmoney, FreeCharge, Airtel Money, Ola Money as well as PayZapp.

• Initial set-up fees:  No 
• Maintenance Cost: No Annual maintenance costs
• Fees per transaction: 2 % for every successful transaction, +1 % are applicable for International cards, EMI & Amex, and GST of 18 % on the overall transaction fee.
• Supports credit/debit cards: MasterCard, Visa, American Express, BAJAJ, DICL, Maestro, and RuPay
• Supported eCommerce CMS: All significant ones such as Magento, WooCommerce, CS Cart, Opencart, WHCMS, Shopify, WordPress, Arastta, and PrestaShop
• Customer support: Chat Support and IVR is accessible 24/7
• Documentation required: You can find and explore the documentation list here
• Activation period: Almost real-time activation after document approval.
• International payment/credit-card support: International approval is an individual process that takes a longer time and depends on the bank’s approval
• Multi-currency support: Does not support
• Withdrawal fees: No
• Settlement days: 3 days in your linked Bank account 
• Mobile app support: Mobile SDK’s for Android and iOS through Cordova or PhoneGap

2. CCAvenue

CCAvenue is another biggest payment gateway that offers a wide range of payment options in India with 200+ payment choices.

With CCAvenue, you get access to services in the global marketplace as it backs 27 currencies. Indian merchants love this payment gateway because the payment page is available in 18 different Indian languages.

• Initial set-up fees:  No 
• Maintenance Cost: Rs. 1200 annual maintenance costs
• Fees per transaction: 
  • 2 % for domestic Credit & Debit Cards on MasterCard, Visa, Maestro & Rupay
  • 2 % for wallets including MobiKwik, Freecharge, JioMoney, OlaMoney, Paytm, PayZapp Jana Cash, SBI Buddy, and mobile wallet
  • 2 % for IMPS and UPI
  • 3 % for International Credit Cards on Visa, MasterCard, Diners Club, American Express, & JCB
• Supports credit/debit cards: Amex, JCB, Diners Club, MasterCard, Visa, Maestro, Rupay, and eZeClick
• Supported eCommerce CMS: BuildaBazaar, Cubecart, ZenCart, Drupal, Interspire, Joomla, Magento, Magento Go, NopCommerce, OsCommerce, Martjack, Moodle, Opencart, PrestaShop, WordPress, VirtueMart, and WHMCS.
• Customer support: 24/7 chat, voice and email support 
• Documentation required: Visit the official website to find the list of documents. 
• Activation period: As per the website, it gets activated within 1 hour after registration; however, in practice it will take amid 3 to 6 days. Physical copies of documents will be needed prior to initiating transactions.
• International payment/credit-card support: International approval is an individual process that takes a long time and depends on the bank’s approval.
• Multi-currency support: Supports 27 major foreign currencies
• Withdrawal fees: No
• Settlement days: The minimum amount needed to be maintained in the account is Rs 1000. The payment is settled weekly for all the required amounts. 
• Mobile app support: Accessible for Android, iOS as well as Windows.

3. PayU

PayU (previously known as PayU Money) is one of the top payment gateways to enable and accept online payments with minimum development attempts, simple sign up, and swift onboarding procedure.

You can initiate accepting payments securely and flawlessly within your iOS, Android, or Windows application, with a complete online trouble-free onboarding procedure.

• Initial set-up fees:  No 
• Maintenance Cost: No annual maintenance costs
• Fees per transaction: 
  • 2 % + GST for each transaction
  • For American Express & Diners Cards, the transaction fee is 3 % + GST for global transactions & EMI payment choices. It requires a set-up fee to be paid along with Annual Maintenance Charges. 
  • Transaction rates are 3 % + Rs. 6 for each transaction
• Supports credit/debit cards: Visa, MasterCard, Diners and Amex 
• Supported eCommerce CMS: Backed by all major CMS 
• Customer support: Seems to be busy 
• Documentation required: Wide-ranging list of documents.
• Activation period: Quick activation
• International payment/credit-card support: International approval is an individual process that takes a long time and depends on the bank’s approval.
• Multi-currency support: Completely supported
• Withdrawal fees: No
• Mobile app support: Ready application with mobile SDKs for iOS and Android platforms.

4. PayTM

Paytm has matured out to be the top payment gateway across India for small businesses. It is a popular and accessible payment gateway in the country.

Paytm payment gateway is known amongst businesses in India, big or small, to facilitate online payment transactions. Paired with the power of multiple payment method support, secure payment processing technology, and high success rate, Paytm payment gateway has all the features you need to give your business an edge over the competitors.

This Indian payment gateway also provides access to 250 mn+ saved cards and 450 mn + Paytm wallet users for faster payment processing.

• Initial set-up fees:  NIL
• Annual Maintenance Cost: NIL
• Minimum Annual Business Requirements: NIL
• Fees per transaction:
  • 1.99% for Paytm wallets, Net banking, and Credit cards
  • 0.4% for transaction amount below Rs. 2,000 via Debit cards (Mastercard & Visa)/ 0.9% for amount above Rs. 2,000
  • 0% for Rupay card and UPI
  • 2.8% for international Credit/Debit cards
  • 0% Transaction fees for all startups (Build for India Offer)

• Supports credit/debit cards: All payment modes including debit/credit cards, net banking, EMI, Paytm wallet, and Paytm Postpaid
• Accessible APIs for: Magento, Opencart, Prestashop, WordPress, Woocommerce, Nopcommerce, Zencart, Moodle, Joomla, CScart, Ubercart, Easy digital, Abantecart, Drupal Commerce, Gravity forms, os Commerce, ViArt, Virtuemart, WHMCS, WP eCommerce
• APIs for eCommerce Hosted Platforms: Shopify, Shopaccino, Zoho, Zepo, Limetray, Shopmatic, Hidden Brains, Urban Piper, Kare4u Healthcare
• Customer support: The staff is accessible and friendly
• Documentation required: Business registration details and bank account information
• International payment/credit-card support: Support all kinds of credit cards
• Multi-currency support: 72 plus currencies
• Withdrawal fees: No
• Settlement time: 24-48 hours; optional real-time/same day settlement
• Mobile app support: Accessible for Android and iOS.

5. Cashfree Payment Gateway

Cashfree is one of the leading banking expertise companies which enable businesses to collect as well as distribute payments.

You get the widest range of payment options with India’s only mass payouts and payment gateway service providers across India. With this integrated disbursement gateway, you can select from an array of payment choices for your transactions.

• Initial set-up fees:  No
• Maintenance Cost: No
• Fees per transaction: 
  • 75 % + Rs 0 per transaction for Credit & Debit cards (MasterCard, Visa, Maestro and Rupay) 
  • 70+ net banking, Wallets (Paytm, Freecharge, Airtel Money, MobiKwik, JioMoney, Ola Money, and UPI)
  • 5 % + Rs 7 per transaction for global Credit Cards on MasterCard, Visa, and American Express
  • Extra taxes are applied for other functions. 
• Supports credit/debit cards: MasterCard, Visa, Maestro, Rupay, and American Express
• Supported eCommerce CMS: It is backed by Shopify India, Magento, PrestaShop, OpenCart India, and Storehippo.
  • Customer support: An account manager is assigned, who stays as the primary contact. Customers can even use live chat for interactions with the authority.
  • Documentation required: Business registration details and bank account information.
• International payment/credit-card support: It supports international payment and credit cards
• Multi-currency support: 32+ major foreign currencies supported including other currencies
• Settlement days: 24 hours
• Mobile app support: It is accessible for Android and iOS.

6. Zaakpay by MobiKwik

Zaakpay is another Indian Payment Gateway accepting payments through prevalent Net Banking, Wallets, EMI, UPI, and Indian as well as global MasterCard, Visa, Diners Card, Discover, American Express supporting major credit and debit cards.

It backs around 50+ Net banking portals, e-Wallets and Electronic- COD. It is utilized by online portals such as Yepme, TicketGoose, ShopClues, and Snapdeal.

• Initial set-up fees:  Negotiable
• Maintenance Cost: Negotiable
• Fees per transaction: Lesser per transaction prices after Cashfree. 
• Supports credit/debit cards: MasterCard, VISA, Discover & Diner’s cards are acceptable.
• Supported eCommerce CMS: Backed by WordPress, XCart, Cubecart, Zencart, PrestaShop, CScart, and OSCommerce.
• Customer support: It seems to be busy.
• Documentation required: Extensive documentation is needed
• International payment/credit-card support: It backs international payment and credit cards 
• Multi-currency support: No 
• Withdrawal fees: No
• Settlement days: T+2 days
• Mobile app support: Accessible for Android, Windows, and iOS.

7. Instamojo

Instamojo is a digital payment gateway blended with an eCommerce platform for Indian merchants.

It facilitates you to collect payment on your website or application by credit cards, debit cards, wallets, or UPI across India. You merely require creating an account on their online portal, and you can initiate selling in minutes.

• Initial set-up fees:  No
• Maintenance Cost: No
• Fees per transaction: 
  • Credit and Debit cards on MasterCard, Visa, Maestro & Rupay: Flat fee at 2 % + Rs 3 on every transaction
  • Freecharge, OlaMoney, MobiKwik & JioMoney: Flat fee at 2 % + Rs 3 on each  transaction
  • UPI: Flat fee right at 2 % + Rs 3 on every transaction
  • International Credit Cards on American Express, Visa, MasterCard: 5 % Flat fee + Rs 3 for every transaction
  • Extra taxes are applicable 

• Supports credit/debit cards: Visa, Diners, Master, AMEX, JCB and Discover
• Supported eCommerce CMS: Backed by WordPress, Magento, PrestaShop, Drupal, Opencart, CScart, and WHMCSMeteor JS 
• Customer support: Closed over weekends and not too supportive of weekdays.
• Documentation required: Bank account information
• International payment/credit-card support: Supported by Visa, MasterCard, and American Express on a particular request. 
• Multi-currency support: No 
• Withdrawal fees: No
• Settlement days: 3 days in your linked Bank account
• Mobile app support: Accessible for both Android and iOS.

8. EBS Payment Gateway

EBS payment gateway from E-Billing Solutions Pvt. Ltd. facilitates Indian eCommerce stores to use payment collection facilities provided by numerous banks, cash cards, and payment processors onto a single platform with the least technical integration needs.

It offers to design payment pages in one of the seven diverse languages, including Hindi, English, Gujarati, Tamil, Telugu, Bengali, and Marathi. 

• Initial set-up fees:  Rs 9599 
• Maintenance Cost: Rs. 2400 annually
• Fees per transaction: 
  • Domestic Credit and Debit cards: Flat fee at 2 %
  • Wallets: Flat fee at 2 %
  • IMPS, Cash cards, and UPI: Flat fee at 2 %
  • Amex, ezeClick, JCB and Diners: Flat fee at 3 %
  • International Credit Cards: Flat fee at 3.5 % right to 6 %
  • Additional taxes are applicable.   
• Supports credit/debit cards: Visa, JCB, Master, AMEX, Diners, and Discover
• Supported eCommerce CMS: Backed by Magento, Opencart, ZenCart, PrestaShop, Tomatocart, WordPress, Woocommerce, Joomla VirtueMart & Joomshopping, Hikashop, Akeeba
• Customer support: It is closed over weekends but good support on weekdays.
• Documentation required: Bank account information.
• International payment/credit-card support: It is well supported.
• Multi-currency support: Provides localised buying experience and shun conversion disputes. It backs 11 major foreign currencies. 
• Withdrawal fees: No
• Settlement days: 2 to 3 days
• Mobile app support: It is accessible for both Android and iOS.

9. PayUBiz

PayUbiz is from the Naspers group and is an enterprise version of the PayU payment gateway.

Its services are used by 70+ of the topmost 100 eCommerce organizations. It is also utilized by Bookmyshow, Snapdeal, Cleartrip, Jabong, Ola, Redbus, Zomato, and GoIbibo.

• Initial set-up fees:  Rs 4900 for a startup company and Rs 19900 for a platinum plan 
• Maintenance Cost: Rs. 2400 annually
• Fees per transaction: 
  • Domestic Debit cards: Flat fee at 0.75 % under Rs 2000 and 1 % over Rs 2000
  • Domestic Credit cards: Flat fee at 2.95 %
  • Wallets: Flat fee at 2.95 %
  • IMPS, Cash cards and UPI: Flat fee at 2 %
  • Amex, ezeClick, JCB and Diners: Flat fee at 3.7 %
  • International Credit Cards: Flat fee at 3.7 %
  • Extra taxes are applicable 
• Supports credit/debit cards: Backed by all sorts of credit cards.
• Supported eCommerce CMS: Backed by Opencart, Magento, Joomla Virtue Mart, ZenCart, WordPress Woocommerce, PrestaShop, OSCommerce and WordPress
• Customer support: Good
• Documentation required: Business registration details with Bank account information
• International payment/credit-card support: Well supported
• Multi-currency support: Backed by 13 major foreign currencies 
• Withdrawal fees: No
• Settlement days: 2 to 3 days
• Mobile app support: Accessible for both Android and iOS

10. DirecPay

DirecPay is a leading integrated online payment gateway for eCommerce stores across India.

It offers a merchant with a simple and handy selection to grow their online business. With DirecPay, you can accept payments by Net Banking, Credit & Debit Cards, and Mobile Payments.

• Initial set-up fees: No  
• Maintenance Cost: No 
• Fees per transaction: 
  • Domestic Credit and Debit cards: Flat fee at 2 %
  • Wallets: Flat fee at 2 %
  • NEFT, IMPS, Cash cards & UPI: Flat fee at 2 %
  • Amex, eZeClick, JCB and Diners: Flat fee at 3 %
  • Additional taxes are applicable 
• Supports credit/debit cards: Visa, AMEX, Master, Diners, JCB and Discover
• Supported eCommerce CMS: Backed by Cubecart, OsCommerce, ZenCart, NopCommerce, Xcart, Magento, Shopify, WordPress woo-commerce, Opencart, PrestaShop, WHMCS, and Joomla.
• Customer support: No support services on weekends but good on weekdays.
• Documentation required: Business registration details with Bank account information
• International payment/credit-card support: Supported with an added refundable security deposit of Rs 30000
• Multi-currency support: Only US$ supported after Indian Rupee.
• Withdrawal fees: No
• Settlement days: 2 to 3 days
• Mobile app support: Accessible for both Android and iOS.

11. Atom payment Gateway

Atom payment gateway is enabled by FT Group and it is an effective Payment Service Provider with 100+ payment alternatives, around 15 million+ transactions, 4500+ merchants across India.

It backs payments via internet, IVR & mobile app utilizing net banking, credit cards, debit cards, and prepaid cards.

• Initial set-up fees: No for a standard plan and Rs 5000 for enterprise plan.  
• Maintenance Cost: No for a standard plan and Rs 2400 annually for enterprise plan.
• Fees per transaction for a standard plan:
  • Domestic Credit cards: Flat fee at 2.1 %
  • Domestic Debit cards: Flat fee at 1.25 %
  • Wallets: Flat fee at  2.2 %
  • Bank EMI: Flat fee of 2.35 %
  • NEFT, IMPS, Cash cards & UPI: Flat fee at 2 %
  • Amex, Diners, eZeClick & JCB: Flat fee at 3 %
  • International Credit Cards: Flat fee at 4 %
  • Taxes additional as applicable 
• Fees per transaction for an enterprise plan:
  • Domestic Credit cards: Flat fee at 1.9 %
  • Domestic Debit cards: Flat fee at 0.7 5 % for transactions under 2000 and 1 % for equal or more than Rs 2000 
  • Wallets: Flat fee at 2 %
  • Bank EMI: Flat fee of 2.15 %
  • NEFT, IMPS, UPI and Cash cards: Flat fee at 1.8 %
  • Amex, eZeClick, Diners and JCB: Flat fee at 2.85 %
  • International Credit Cards: Flat fee at 3.75 %
  • Taxes additional as applicable
• Supports credit/debit cards: Visa, AMEX, Master, Diners, JCB and Discover
• Supported eCommerce CMS: Backed by Magento, Shopify, WordPress woo-commerce, Opencart, WordPress Jigoshop, PrestaShop, WHMCS, Drupal, and Joomla.
• Customer support: You need to connect with the sales team for better support options.
• Documentation required: Bank account information
• International payment/credit-card support: Not supported 
• Multi-currency support: Not supported
• Withdrawal fees: No
• Settlement days: 2 to 3 days
• Mobile app support: Accessible for both Android and iOS.

12. PayPal

PayPal payment gateway service is allied with the massively popular payment selection – PayPal.

This global payment option is obtainable in 200+ countries and has advanced with around 4 billion payments, which comprise 1 billion payments via the smartphone. The company has 175+ million client-bases across the globe.

It is considered to be the best global payment gateway for Indian merchants. Merchants should have PayPal integrated into their eCommerce stores to deal with orders from international patrons.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Fees per transaction: 4.4 percent + US40.30 + charges for currency conversion 
• Supported eCommerce CMS: It is backed by all the major ones
• Customer support: Best
• Documentation required: Need scanned PAN, local bank account, and a purpose code.
• Multi-currency support: 100+ currencies internationally with options to sustain your earnings in 57 currencies
• Withdrawal fees: No
• Settlement days: Payments will get withdrawn to the local bank from the PayPal account on a regular basis
• Mobile app support: It is accessible for Android and iOS.

13. GPay

GPay is a digital wallet platform and a leading online payment system built by Google to enable in-app and tap-to-pay purchases right on mobile devices, facilitating users to make payments with Smartphones, watches, and tablets.

Small-scale Indian merchants can instantly accept payments from their customers by just sharing the contact details.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Fees per transaction: No 
• Supports credit/debit cards: Visa, AMEX, MasterCard, American Express, Diners Club, JCB, Maestro, and Discover
• Customer support: Best
• Documentation required: No
• Multi-currency support: Yes
• Withdrawal fees: No
• Settlement days: Quick payments 
• Mobile app support: Accessible for Android and iOS.

14. PhonePe

PhonePe lends a hand to merchants to accept payments by all UPI-based apps, debit & credit cards, and wallets on the application.

PhonePe can assist you to grow your online business by enabling your customers to pay for utilizing multiple payment modes. Online payments with PhonePe are swift, straightforward, and safe.

They offer numerous payment containers that can simply be integrated with any of the payment gateways on your eCommerce site, Android, and iOS applications.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Fees per transaction: No 
• Supports credit/debit cards: Almost all
• Customer support: Best
• Documentation required: No
• Multi-currency support: No
• Withdrawal fees: No
• Settlement days: Quick payments 
• Mobile app support: Accessible for Android and iOS.

15. BHIM UPI Payment Solution

Bharat Interface for Money (BHIM) is an Indian payment application that lets you make uncomplicated, trouble-free, and rapid payment transactions utilizing Unified Payments Interface (UPI).

You can make instantaneous bank-to-bank payments and Pay and collect money with just your mobile number or by your Virtual Payment Address (UPI ID).

• Fees per transaction: No charges for transactions from Rs 1 to Rs 100,000. Some banks also charge a small amount of fee for UPI and IMPS transfers
• Customer support: Best
• Documentation required: Aadhaar Card and other Identity documents
• Multi-currency support: No
• Withdrawal fees: No
• Settlement days: Instant transfers
• Mobile app support: Accessible for Android and iOS

16. BharatPe Payment Solution

BharatPe enables Indian shop owners to accept payments from any payment application without any charges.

Merchants can sign up right away and commence accepting payments straightforwardly into their bank account and have the suppleness to earn up to 12 % interest on those payments and even apply for loans whenever they require.

It turns payment acceptance undemanding by providing merchants a solitary QR to acknowledge all payment applications like Paytm, Google Pay, PhonePe, BHIM, and 150+ other UPI applications.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Fees per transaction: No 
• Customer support: Best
• Documentation required: KYC details
• Multi-currency support: No
• Withdrawal fees: No
• Settlement days: Instant transfers
• Mobile app support: Accessible for Android and iOS.

17. Freecharge Payment Solution

FreeCharge payment gateway provides a wallet that allows retailers and online merchants to accept payments from their customers.

This wallet was launched to accept payments from the customers for the telecom companies as a recharge facility. The company saw the potential of eCommerce in India and launched its payment solutions for the Indian merchants to grow with the flow.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Fees per transaction: No 
• Customer support: Best
• Documentation required: No 
• Multi-currency support: No
• Withdrawal fees: No
• Settlement days: Swift processing
• Mobile app support: Accessible for Android and iOS.

18. JioMoney Wallet

You can utilize JioMoney in MyJio to make intelligent, straightforward and fully secure digital payments on the go.

Lacs of offline stores and top online merchants across India are accepting payments through JioMoney. With this platform, you can grow your business swiftly and seamlessly.

• Initial set-up fees: No 
• Maintenance Cost: No 
• Transactions fees: No
• Supports credit/debit cards: Credit and Debit Cards are subject to acceptance only if you have been given essential permissions for doing the same, and a pinpad device has been provided to you. Presently, JioMoney is not allowing Credit/Debit Card acceptance to fresh merchant accounts.
• Customer support: Good
• Documentation required: Full KYC 
• Multi-currency support: No
• Withdrawal fees: No
• Settlement days: Payments by JioMoney will be transferred to your registered bank account by subsequent day, or by every 15 minutes to your JioMoney account, which depends on the category of settlement picked by you.
• Mobile app support: Accessible for Android and iOS.

Top Payment Gateways Indian Merchants Trust – Which one to choose?

Our suggestion is that you go ahead with at least two payment gateways so that your customer has an alternative to pay. Check out the criteria to select and compare payment gateways here. Let us know about your favorite payment gateway in India and if you want to share your story about your favorite payment gateway, shoot us an email at [email protected].