The digital payments revolution has taken India by storm, allowing businesses to accept payments quickly and securely. With the launch of the government-backed UPI payment system, it has become easier than ever for businesses in India to accept digital payments.
A payment gateway acts as an intermediary between a merchant’s website and the customer’s bank, allowing fast and seamless funds transfer.
However, with so many payment gateways on offer, it can be difficult to decide which is best suited for your business.
This article will look at the best payment gateways in India for eCommerce in 2023. We will examine the features and benefits of each gateway and compare them with other options available in the market.
Whether you’re a small business owner just starting or a seasoned eCommerce veteran, this guide will help you choose the best payment gateway for your needs.
Importance of Payment Gateways in India
Payment gateways play a crucial role in the success of eCommerce businesses in India. They provide the necessary infrastructure for secure and seamless online transactions, allowing customers to make purchases confidently.
We have listed down the importance of payment gateways for eCommerce in India into many vital points:
- Security: Payment gateways use advanced encryption techniques to protect sensitive customer information, such as credit card details, from fraud and hacking. Security is critical in the Indian market, where online fraud and cybercrime are rising.
- Convenience: Payment gateways allow customers to make purchases quickly and easily without leaving the merchant’s website. This improves the customer experience and increases the chances of a sale.
- Payment options: Payment gateways offer a wide range of payment options, including credit and debit cards, net banking, mobile wallets, and cash on delivery. This allows businesses to cater to the diverse payment preferences of Indian customers.
- Compliance: Payment gateways are required to comply with various regulations and standards, such as PCI-DSS and RBI guidelines, which help to ensure the safety and security of online transactions.
- Scalability: Payment gateways can handle a large volume of transactions, making it easy for businesses to scale up their operations as they grow.
- Reporting and Analytics: Payment gateways provide businesses with detailed reports and analytics on their transactions, which can be used to make data-driven decisions about their eCommerce operations.
List of Best Payment Gateways in India
1. Razorpay
- Razorpay is a popular payment gateway in India, known for its easy integration and excellent customer support. It offers various payment options, including credit and debit cards, net banking, mobile wallets, and UPI. It also supports multiple currencies, making it suitable for businesses that sell to customers worldwide.
- Razorpay also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- Razorpay also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some companies currently using Razorpay include Flipkart, Oyo Rooms, and BookMyShow.
- Razorpay also offers a range of developer-friendly features, such as webhooks, APIs, and plugins for popular eCommerce platforms like Shopify and Magento.
- Razorpay also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, Razorpay is a versatile and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India.
2. Paytm Payment Gateway
- Paytm Payment Gateway is a popular choice among eCommerce businesses in India. It offers a variety of payment options, including credit and debit cards, net banking, and mobile wallets. Paytm also provides a seamless checkout experience for customers, making it easy for them to complete their purchases.
- Paytm Payment Gateway also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- Paytm Payment Gateway also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some of the companies that currently use Paytm Payment Gateway include Swiggy, Zomato, Ola, and Myntra.
- Paytm Payment Gateway is also known for its excellent customer support, which can be reached 24/7 via email or phone.
- Paytm Payment Gateway is also known for its competitive pricing and refund management feature, allowing businesses to process refunds quickly.
Overall, Paytm Payment Gateway is a reliable and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India.
Also Read: 10 Best Mobile Apps to Earn Paytm Cash For Free
3. Instamojo
- Instamojo is a popular payment gateway for small and medium-sized businesses in India. It offers a simple and user-friendly platform, making it easy for companies to set up and accept payments.
- Instamojo supports various payment options, including credit and debit cards, net banking, mobile wallets, and UPI. It also supports multiple currencies, making it suitable for businesses that sell to customers worldwide.
- It also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- Instamojo also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some of the companies that currently use Instamojo include Flipkart, Oyo Rooms, and BookMyShow.
- Instamojo also offers a range of developer-friendly features, such as webhooks, APIs, and plugins for popular eCommerce platforms like Shopify and Magento.
- It also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, Instamojo is a user-friendly and feature-rich payment gateway that is well-suited to the needs of small and medium-sized eCommerce businesses in India.
4. CCAvenue
- CCAvenue is one of the oldest and most established payment gateways in India. It offers various payment options, including credit and debit cards, net banking, mobile wallets, and cash on delivery. It also supports multiple currencies, making it suitable for businesses that sell to customers worldwide.
- CCAvenue also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- CCAvenue also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some companies currently using CCAvenue include Flipkart, Oyo Rooms, and BookMyShow.
- CCAvenue also offers a range of developer-friendly features, such as webhooks, APIs, and plugins for popular eCommerce platforms like Shopify and Magento.
- CCAvenue also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, CCAvenue is a well-established and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India. Its long-standing reputation, wide range of features, and wide range of payment options make it a reliable choice for businesses looking for a payment gateway provider.
Also Read: 10 Best Student Loan Apps in India
5. PayU
- PayU is a popular payment gateway in India, known for its wide range of features and excellent customer support. It offers a variety of payment options, including credit and debit cards, net banking, mobile wallets, and UPI. It also supports various currencies, making it suitable for businesses that sell to customers worldwide.
- PayU also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- PayU also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some of the companies that currently use PayU include Flipkart, Oyo Rooms, and BookMyShow.
- PayU also offers a range of developer-friendly features, such as webhooks, APIs, and plugins for popular eCommerce platforms like Shopify and Magento.
- PayU also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, PayU is a versatile and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India. Its wide range of features and excellent customer support make it a reliable choice for businesses looking for a payment gateway provider.
6. ICICI Payment Gateway
- ICICI Payment Gateway is a popular choice among eCommerce businesses in India. It offers a variety of payment options, including credit and debit cards, net banking, and mobile wallets. It also supports various currencies, making it suitable for businesses that sell to customers worldwide.
- ICICI Payment Gateway also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- ICICI Payment Gateway also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some companies currently using ICICI Payment Gateway include Flipkart, Oyo Rooms, and BookMyShow.
- ICICI Payment Gateway is also known for its excellent customer support, which can be reached 24/7 via email or phone.
- ICICI Payment Gateway also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, ICICI Payment Gateway is a reliable and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India. Its wide range of features, excellent customer support, and competitive pricing make it a solid choice for businesses looking for a payment gateway provider.
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7. HDFC Payment Gateway
- HDFC Payment Gateway is a popular choice among eCommerce businesses in India, particularly those looking for a payment gateway provider with a strong reputation and a wide range of features. It offers a variety of payment options, including credit and debit cards, net banking, and mobile wallets.
- HDFC Payment Gateway also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- HDFC Payment Gateway also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some companies currently using HDFC Payment Gateway include Flipkart, Oyo Rooms, and BookMyShow.
- HDFC Payment Gateway is also known for its excellent customer support, which can be reached 24/7 via email or phone.
- HDFC Payment Gateway also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, HDFC Payment Gateway is a reliable and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India. Its reputation, wide range of features, and excellent customer support make it a solid choice for businesses looking for a payment gateway provider.
8. Google Pay for Business
- Google Pay for Business is a popular payment gateway in India, known for its ease of use and integration with other Google services. It offers a variety of payment options, including credit and debit cards, net banking, and UPI. It also supports various currencies, making it suitable for businesses that sell to customers worldwide.
- Google Pay for Business also offers a range of security features to protect customer information and prevent fraud. This includes PCI DSS compliance, 3D Secure, and encryption of all sensitive data.
- Google Pay for Business also provides businesses with detailed reports and analytics, which can be used to make data-driven decisions about their eCommerce operations.
- Some of the companies that currently use Google Pay for Business include Flipkart, Oyo Rooms, and BookMyShow.
- Google Pay for Business also offers a range of developer-friendly features, such as webhooks, APIs, and plugins for popular eCommerce platforms like Shopify and Magento.
- Google Pay for Business also offers a range of pricing plans to suit the needs of businesses of different sizes.
Overall, Google Pay for Business is a user-friendly and feature-rich payment gateway that is well-suited to the needs of eCommerce businesses in India. Its ease of use, integration with other Google services, and wide range of payment options make it a reliable choice for businesses looking for a payment gateway provider.
In conclusion,
Selecting the right payment gateway is essential for any online business in India. With the options covered in this article, you can now compare and choose the best payment gateway that suits your needs.
It is important to remember that even though a particular payment gateway may offer features that are beneficial to your business, it should also be secure and reliable. Additionally, make sure to also consider customer service and ease of use when choosing a payment gateway.