Payment Bank License

Top 20 Payment Gateways in India 2024

In today’s competitive world, payment Gateway is yet another competitive player in the market of payment gateways in Indian businesses; Paytm, RazorPay, Instamojo, PayU, etc., are the major competitors. Several of India’s top 20 payment gateways stand out for their reliability, security and user-friendly features. A pioneer in the Indian payment gateway industry recognized for its extensive network of banking partners and customizable solutions catering to diverse business needs.

Let’s Understand about the Payment Gateway

A payment gateway in India is a technological platform that serves as an intermediary in electronic financial transactions. It allows in-person and online businesses to securely and efficiently accept, process and manage payment methods, including UPI, credit cards, debit cards and digital wallets.

A payment gateway is an application that simplifies the online payment process and serves as a bridge connecting a merchant’s mobile application or website with the banks. However, when you pay through a payment gateway, the merchant’s website transmits the debit or credit card details to the gateway for verification. Then the gateway confirms the details with the bank, and the amount is transferred from your bank account to the merchant’s account.

Top 20 Best Payment Gateway List in India

Choose the top 20 best payment gateway in India. However, some of the best payment gateways in India are:

1. Instamojo

A critical factor when selecting a payment gateway in India is its ease of integration with the website or mobile application. So, unlike older systems that require extensive documentation and lengthy sign-in processes, Instamojo streamlines the integration process and reduces setup time from weeks to hours, which also lowers the development costs and simplifies customer interactions.

Instamojo serves over 2,000,000 Indian businesses, offering a high-speed, optimized checkout experience. It provides custom checkout pages and pay buttons and allows businesses to pass transaction fees to customers, effectively offering a free payment gateway.

It has 100+ options including Google Pay, Net banking debit and credit cards, pay later, EMOs, wallets etc. It has a settlement period of T+3 with instant onboarding via email signup.

2. Paytm

It is known for its user-friendliness, Paytm supports all domestic credit and debit cards linked with over 50+ banks and is designed to be intuitive, making it easy for anyone to make payment. It also supports international transactions.

It is boosting a 100% success rate and is trusted by 300 million Indians by offering lightning-fast payments and a robust banking infrastructure. The payment methods are debit, credit cards, net banking, UPI, Paytm bank wallet, no-cost EMI, etc., with a settlement period of T+1 and 30 minutes for the onboarding process.

3. PayU

PayU is now a leading payment gateway in India, serving over 5,00,000 businesses to enable businesses to collect payments online efficiently and securely. PayU offers advanced payment gateway solutions which serve over 4000+ merchants with its advanced technology.

PayU is trusted by over 500,000 businesses for its focus on creating better payment experiences. It offers industry-leading payment success rates with both website and app-based checkout options. It has 150+ payment methods including credit or debit card cards, net banking, UPI EMIs, and wallets. The settlement period is T+2 with an onboarding time of 1 to 3 days.

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4. Razorpay

Razorpay provides comprehensive payment solutions, enabling businesses to accept, process and disburse payments effortlessly. Razorpay allows customers to conduct automated payments seamlessly because of its low code integration which facilitates quick adoption by SMEs.

The payment methods are credit cards, debit cards, EMIs, pay later, net banking, UPI, and wallets. It is settlement period T+2 with an onboarding time of 3-4 days. The fee is 2% GST for a standard plan and 3% for certain cards and EMI.

5. MobiKwik

MobiKwik, formerly known as Zaakpay, has rapidly grown into one of the fastest-growing e-commerce payment gateways to empower businesses to conduct transactions successfully, and it caters to both individual users and businesses with a mobile-friendly interface, ensuring secure and efficient transactions. As one of India’s largest mobile wallets and Buy Now Pay Later (BNPL) option.

6. PayPal

PayPal is a leading payment gateway that allows customers to conveniently make online payments for goods and services. It is highly recognized globally and facilitates easy integration for businesses. It can be used by Indian merchants only for receiving international payments and is an ideal choice for businesses dealing with international levels.

The payment methods are credit, debit cards, net banking, wallet etc., with a settlement period of T+2 or T+3. The fees are fixed as per transactions, with additional fees for currency conversion and international transactions.

7. Easebuzz

Easebuzz is a software-powered platform designed to assist SMEs with digital payments, providing secure, reliable and convenient solutions for accepting and processing payments to make it easier for small and medium enterprises to transition to digital payments seamlessly.


Billdesk is a comprehensive online payment provider that helps individuals or businesses organize, pay and manage their regular and ongoing bills; the individual or business can receive, review and pay all their bills in one place.

9.     Amazon Pay

Amazon Pay is a highly reliable payment gateway that offers individuals a relaxed and satisfying payment experience, which is designed specifically for Amazon merchants and customers; it is a simple, quick and secure payment option. It includes buy now, pay later plans and one-click payments to enhance the ease and efficiency of online transactions.

10. Cashfree Payments

Cashfree is renowned as the most affordable payment gateway in India, contributing to its growing popularity, which offers fast payment processing and making it a preferred choice for many. It also provides the fastest settlement cycle of 24 hours with multiple eCommerce CMS registrations and low usage fees.

Cashfree is a versatile payment gateway supporting over 100 currencies, popular for e-commerce and small businesses. It offers a variety of payment options and features like instant refunds, payouts and split payments.

The method of payment is credit, debit card, net banking, UPI, wallets, EMI, etc., with a settlement period of T+1 and an onboarding time of 30 minutes to 2 days based on verification.

11. Google Pay

Google Pay enables customers to make payments seamlessly by simply pressing a button and utilizing payment methods saved in their Google account. Through a partnership with numerous payment service providers (PSPs) globally, Google Pay ensures easy integration of Google Pay for businesses.

12. Next Gen Payment Gateway

The Next Gen Payment Gateway previously known as EBS payment gateway, is a platform for processing online payments efficiently, ensuring quick and hassle-free settlement transactions. This offers a wide range of payment options and covers various available payment methods, providing convenience and flexibility to users. An innovative approach to fraud prevention and more than 100 payment options makes it a trusted choice for businesses.

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13. DirecPay

DirecPay provides an integrated online payment gateway solution specifically for Indian merchants. With DirecPay’s payment gateway, businesses in India can streamline their online payment processing effectively and ensure a seamless user experience. It also minimizes redirections and maximizes customer retention by offering multi-currency support and eliminating withdrawal fees.

14. Atom

Since 2006, Atom has provided user-friendly payment processing services for businesses and individuals, supporting transactions over mobile and the Internet. It is a leading payment gateway that offers a wide array of payment options, exceeding a hundred in number, to support domestic credit cards, including Visa, MasterCard, etc., and ensure comprehensive payment coverage for businesses.

The payment method are credit, debit cards, net banking, wallets, and UPI etc., It has a settlement period of T+2 or T+3 with an onboarding time of a few days based on verification. The fee is 2.1% for credit and debit cards, net banking, and additional fees for other services.

15. PayKun

PayKun payment gateway software offers a simple and secure platform for digital payments and online transactions. It is designated for small and medium businesses to prioritize ease of use and security. It emerges as one of the popular payment gateways to various business needs, ensuring safe and seamless transactions with numerous merchants.

16. ePaisa

A SaaS-based POS application providing payment and inventory management solutions, enabling small merchants to accept various modern payment methods.

17. Open

The payment gateway offered by OPEN is renowned for its reputation as one of the most reputable, user-friendly, adaptable and secure payment gateways in the market.

18. Airpay

The Airpay payment gateway enables merchants and businesses to seamlessly accept debit or credit card payments on websites and mobile apps.

19. CCAvenue

CCAvenue is an advanced channel payment gateway, the first in India to support central bank digital currency, it claims a 96.5% payment success rate and offers contactless payments via POS terminals on smartphones. It has 200+ methods including credit, debit, net banking, prepaid instruments, and EMIs.

The settlement period is T+2 or T+3, with one-hour onboarding and fees based on the various plans, including 2% for Startup Pro and custom quotes for larger businesses.

20. Stripe

Stripe is a unified payment gateway favoured by startups and enterprises for its one-click checkout and customizable option. It uses ML-based fraud optimization and supports payment across multiple channels.

The 100+ options include credit and debit cards, UPI, bank transfers, wallets, cash-based vouchers, etc. The settlement period will take seven days, and the fees will be 2% for credit cards and debit cards and additional fees for disputed payments and recurring payments.

How to Choose the Best Payment Gateway?

Select the best payment gateway and easily obtain the payment gateway license: for the business needs. Here is a breakdown of the most significant considerations:

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1. Security and Safety

Prioritize a payment gateway with a solid reputation for safety and security to gain trust in the individual and protect their sensitive information.

2. User-friendly Interface

Opt for the payment gateway that is intuitive and easy to use, seamlessly integrating with another system such as invoicing etc.

3. Support for Multiple Payment Modes

Ensure that the chosen gateway supports a variety of payment modes including EMI, credit cards, net banking etc. Additionally, choosing a gateway that offers multi-currency will hold more advantages.

4. Budget and Pricing

Assess the business needs and turnover to select a payment gateway that aligns with the budget and beware of the additional charges such as maintenance fees etc.

5. Reliability

Ensure that the chosen payment gateway can handle heavy traffic without crashing and completes transactions promptly to maintain trust and offer smooth transactions.

6. Product Permissions

Consider whether the payment gateway supports the types of products the individual or business sells to streamline the checkout process and mitigate business risk.

7. Ease of Integration

Look for a payment gateway that offers seamless integration with the individual or business’s website or mobile application, minimizes setup costs and simplifies communication.

Comparison of Top 10 Payment Gateways in India

The comparison between the top 10 payment gateways will help the business or individuals to choose a suitable payment gateway by analyzing the efficiency of the gateways.

Payment GatewayPricingPayment Method SupportedSettlement Time
Razorpay2% Razorpay platform fees + GSTCredit, debit card, UPI, Net banking, wallets.3 days
PayU2% + GST100+ options2 days
CC Avenuefees based on the various plans, including 2% for Startup Pro and custom quotes for larger businesses.Credit, debit card, UPI, Net banking, prepaid instruments, Bank EMI.7 days
OPEN1.85% for Indian Credit or Debit Cards, Net banking, 0% for UPI & Rupay debit cardsCredit, debit card, UPI, Net banking, 200+ payment methods.1 day
BilldeskRs 10 to 50 per transaction + service taxCredit cards and banks3-5 days
CashfreeUPI (1.90%+GST), wallet (1.90%+ GST), Debit card and credit card (1.90%+GST), international Credit cards (3.5%+Rs 7) per transaction.Credit, debit card, UPI, Net banking, wallets, pay later, EMI international payments24 to 48 hours
PaytmUPI(0%), Rs 5 to 65 per mandate, Paytm wallet (1.99%), Debit card (0.4 to 0.9%), net banking (1.99%), international PG (2.9%).Credit, debit card, UPI, Net banking, Paytm wallets.2 to 3 days
Instamojo2% + Rs 3 per transaction100+ Option3 days
MobiKwikCredit card, debit cards, net banking, UPI, and wallets is 1.9% per transaction, and international credit (2.90%) per transaction.Multiple Payment Method2 days
PayPal4.4% + $0.30+ currency conversion chargesGloballyAuto-withdrawn daily

Impact of Payment Gateway on E-commerce Businesses

The payment gateway enhances the security of online transactions for e-commerce businesses. Integrating a payment gateway into an e-commerce website streamlines the payment process and ensures customer satisfaction. These gateways allow businesses to use multiple channels and various currencies, reducing the risk of fraud and improving operational efficiency.

This easy access significantly enhances the user’s experience. E-commerce businesses integrate various payment gateways into their websites and apps to provide convenient platforms for customers to shop and provide payment options. However, both SMEs and larger enterprises build their websites and integrate the most suitable payment gateways in India.


In conclusion, selecting the right payment gateway is important for the success of e-commerce businesses in India. The top 20 payment gateway listed offer a variety of features, from ease of integration to robust security, catering to different business needs. Businesses can enhance customer satisfaction, reduce fraud risks, and improve operational efficiency by choosing the most suitable payment gateways. However, the right payment gateway can significantly contribute to a seamless and secure business.


  1. What will be the future of the payment gateways in India?

    The market size of the payment gateway in India is forecasted to rise from $1.21 billion in 2024 to $ 2.66 by 2029.

  2. What is the oldest payment gateway in India?

    The CCAvenue is the oldest payment gateway in India.

  3. Who is the major player in India's payment gateway?

    The major payment gateway players are Paytm, PayU, PayPal, bill desk, Instamojo and many more.

  4. Who is the world's largest payment gateway?

    PayPal is among the world's largest payment gateway.

  5. Which is the largest payment system in India?

    The UPI is the single largest retail payment system in India.

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