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Top Indian Payment Gateways: The 2022 Updates
When the whole world is constricted by “NO TOUCH POLICY”, cash and cards have transitioned into e-wallets, UPI and net banking. Your purse has become lighter and mightier. You don’t have to keep a count of currencies and sanitize notes often.
Online transactions are safe for your body and soul. Online payment is a fundamental feature offered by e-commerce websites. After adding your desirables, you instantly switch to paying options. After filling up your details, your website transfers you to the third party, known as Payment Gateway. These gateways are nothing but tunnels which connect your bank to the e-commerce websites.
They securely transfer your money from bank account to the merchant’s account. So for fast and secure online payments and bank settlements, payment gateways act like a pro. Magnificent payment gateways are working in India, which we are going to analyze in this blog.
The platform aims to give hassle-free user experience through its payment gateway.
Service Charges:
- Annual maintenance Charge: Zero
- Transaction fee:
- 2% + GST on Indian credit cards, Indian debit cards, net banking from 58 banks, UPI, and wallets.
- 3% + GST on Diners and Amex Cards, International Cards, EMI
Key Features:
- Supported international cards: Visa, Mastercard, American Express, Maestro, Diners Club, and RuPay
- Multi-currency support: Not supported.
- Withdrawal fees: Razorpay Fees + GST
- Settlement days: At least three days
- Customer support: 24/7 support through IVR and chat
- No of days to begin transaction: Depends on the approval of the documentation.
- Mobile platform availability: Android and iOS
- RazorPay Payment Gateway Contact Details: [email protected]
The company has served 3.5 Lakh+ happy customers and gave them a trustworthy payment gateway to handle payment of online sales.
Service Charges:
- Annual maintenance Charge: Zero
- Transaction fee: 2% per successful transaction + GST + 1% extra if made from Amex
Key Features:
- Supported international cards: Visa, Master, Maestro, Rupay, Amex
- Multi-currency support: Yes. However, as a merchant, you will have to enable the feature after the approval that will begin after you submit documents. For more information, you will have to connect with their support.
- Withdrawal fees: 2% per transaction + GST
- Moreover, for American Express & Diners cards, transaction fees = 3% + GST for the rates are 3% + ₹6 for every transaction.
- Settlement days: 2 business days
- Customer support: You can send an email to [email protected].
- Mobile platform availability : Android and iOS
Instamojo is a secured payment gateway to sell digital products.
Service Charges:
- Setup fee: Zero
- Annual maintenance charge: Zero
- Transaction fee:
- For domestic: 2% + ₹ 3 excluding GST, for all Domestic Transactions
- International Cards – 3% + INR 3 + GST
- American Express cards – 3% + INR 3 + GST
- Digital Products hosted on Instamojo – 5% + INR 3 + GST
- Wallets (Ola Money, MobiKwik, FreeCharge, Jio Money) – 2% + INR 3 + GST
Key Features:
- Supported international cards: Mastercard, VISA, American Express — available on request
- Multi-currency support: Not supported.
- Settlement days: Within three days
- Customer support: You can submit a request from a page or also send an email to [email protected].
- Mobile platform availability: Not available
It is Featured by TechCrunch, YourStory, Economic Times and dozens of other websites.
Service Charges:
- Annual maintenance Charge: Zero
- Transaction fee: Zero
Key Features:
- Supported international cards:
- 3.5% + Rs. 7/- per transaction on all international cards
- 2.95% for Diners and Amex
- Multi-currency support: Yes, more than 20 currencies are supported.
- Settlement days: 24 hours
- Customer support: You can email them at [email protected]
- Mobile platform availability: Android and iOS
CCAvenue has a stream of helpful features to give you a secure and robust payment gateway for your online business.
Service Charges:
- Setup fee:
- Rs.40,000/- for Privilege Account. For sub-Merchants with an established e-commerce presence.
- Rs. 25,000/- for Premium Account. For sub-Merchants who have or are expecting a mid-volume turnover.
- Rs. 7,500/- for Economy Account. For sub-Merchants with a new e-commerce presence.
- Annual maintenance Charge
- Rs.3,600/- for Privilege Account
- Rs.2,400/- for Premium Account
- Rs.1,200/- for Economy Account
- Transaction fee:
- 5% TDR + 10.30% Service Tax for Privilege Account
- 7% TDR + 10.30% Service Tax for Premium Account
- 3.75% TDR + 10.30% Service Tax for Economy Account
Key Features:
- Supported international cards: Any MasterCard, Visa, American Express, Diners Club and Citibank E-Cards Credit Cards issued anywhere in the world.
- Multi-currency support: Yes.
- Withdrawal fees: Free
- Settlement days: Weekly settlement
- Customer support: For technical –[email protected] for Account [email protected] For cardholder/risk – [email protected]
- No of days to begin transaction: Your CCAvenue account gets activated within 1 hour of your registration.
- Mobile platform availability: Android, iOS, and Windows
PayPal is a Global payment platform available in 200+ countries across the world.
Service Charges:
- Annual maintenance Charge: Free, Zero maintenance charges.
- Transaction Fee per Transaction: 4.4% + US$0.30 + Currency conversions charges
Key Features:
- International Payment / Credit card Support
- Multi-Currency Support: Paypal support over 100 currency globally and as a paypal merchant you can keep your earnings in 57 currencies!
- Withdrawal Fees: There are no withdrawal fees on PayPal.
- Settlement days: All payments received in your PayPal account will be auto-withdrawn to your local bank account on a daily basis.
- Customer Support: PayPal has a great customer support system.
It is trusted by Indian brands like Jabong, ALT Balaji, Groupon, BookMyShow.
Service Charges:
- Setup charge:
- Platinum Plan: 19,900/-
- Gold Plan: Rs. 14,900/-
- Silver Plan: Rs. 9,900/-
- Startup Plan: Rs. 4,900/-
- Annual maintenance charge: Rs. 2,400/-
- Transaction fee:
- 2.25% on Platinum Plan
- 2.50% on Gold Plan
- 2.70% on Silver Plan
- 2.95% on Startup Plan
- 0.75% for transaction value of <=2000 on VISA, Mastercard, Maestro, Rupay
- 1% for transaction value of >2000 on VISA, Mastercard, Maestro, Rupay
Key Features:
- Supported international cards: Yes, any non-Indian issued card can be used.
- Multi-currency support: Yes.
- Withdrawal fees: Zero
- Settlement days: 2 days
- Customer support: You can email at [email protected]
- Mobile platform availability: Android, iOS, and Windows
Paytm is one of the renowned digital wallets in India.
Service Charges:
- Setup fee: Zero
- Annual maintenance Charge: Zero
- Transaction fee: Zero to 1.75%
Key Features:
- Supported international cards: All the major credit cards are supported including Visa, MasterCard, Diners, Maestro, etc.
- Multi-currency support: Not supported.
- Withdrawal fees: Depends on the type of business.
- Settlement days: Next-day withdrawal
- Customer support: Always available through a form
- Mobile platform availability: iOS and Android
Along with Payment Gateway, Atom Paynetz provides other payment solutions like POS, IVR, and mGalla. With 265+ payment options and 100+ million transactions processed annually
Service Charges:
- Setup charges: Rs. 1,955/- (one time)
- Annual maintenance charge/annual software upgradation charge: Rs. 2,955/-
- Transaction fee:
- 1% above the payment of Rs. 2,000/- per transaction
- 1.99% for domestic credit cards
- 1.8% for net banking
- 3.95% international credit cards
- 3.95% on JCB, Diners Club, and American Express Cards
- 2.2% on major digital wallets
Key Features:
- Supported international cards: Visa, Mastercards. JCB, American Express, Diners Club
- Multi-currency support: Not supported.
- Withdrawal fees: Zero
- Customer support: They have various email address and phone numbers that you can use to connect with the team of Atom Paynetz.
- Mobile platform availability: Android and iOS
They have 100+ payment options and allow you to design multilingual payment web pages so that you can give excellent user experience to your prospects.
Service Charges:
- Annual maintenance Charge: Free for 1st year and Rs. 1,200/- from the second year
- Transaction fee: Custom
Key Features:
- Supported international cards: JCB, American Express, VisaMastercard and Diners Card
- Multi-currency support: Yes
- Settlement days: 2-3 days
- Withdrawal fees: Free
- Customer support: You can find relevant contact leads from their page.
- Mobile platform availability: Android, iOS, and Windows