Best Payment Gateway For E-Commerce Website In India 2023
Swetha Murali- BloggerBEST PAYMENT GATEWAY FOR ECOMMERCE WEBSITE IN INDIA 2023
What is a Payment Gateway?
Payment Gateway is a process that is used in e-commerce in which a supplier receives payments from users using credit cards and debit cards.
It acts as an associate between the Supplier's website and Financial institutions, which enables the authorization, encryption, and routing of Payment Information. The payment information shared by the customers, such as Credit card details on the e-commerce websites, will always be kept confidential.
Some important examples of Pavement Gateway are PayU, Instamojo, Juspay, Airpay,Bill Desk, etc.
Best Payment Gateway for ecommerce website in India?
While choosing the best payment gateway for your e-commerce website development in India, there are some factors that you have to keep in mind. It is important to do some detailed research before choosing the best payment gateway. Some of the important options to consider while choosing the best payment gateways are PayU, Instamojo, CCA venue, Bill Desk, JusPay, Airpay, Cashfree Payments, Zaakpay, Direcpay, ePaisa, Emvantage, Atom Paynetz, Transecute, Razor pay
PAYU
PayU is one of the commonly used Payment Gateway that provides a variety of Payment solutions in India and other countries. Businesses and individuals can use PayU to send and receive payments online using a variety of methods. PayU supports Debit/Credit cards, net banking and UPI.
|
Set up Fee |
Free |
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Annual Fee |
Free |
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Transaction fee |
2% per GST+ Transaction |
|
Accepted Payment |
EMI, Net Banking, Cards, UPI, Wallets, etc. |
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Supported Currencies |
It accepts more than 100 currencies, including Indian Rupee |
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Acceptance and Onboarding Time |
1-2 days |
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E-commerce Platform Integration |
It can be greatly customized and is integrable with any E-commerce CMS. |
INSTAMOJO
Instamojo is an Indian online payment method that allows users and small businesses to buy and sell products online. Instamojo offers a wide range of tools which sets up online stores, manage payments, and expand businesses.
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Set up Fee |
Free |
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Annual Fee |
|
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Transaction Fee |
It supports more than 150 payment methods |
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Supported Currencies |
Domestic Payments Only |
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Acceptance and Onboarding Time |
2-3 days |
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E-commerce Integration |
Although Magento and OpenCart are the best, support for alternative solutions is still provided. |
CCAVENUE
CCAvenue is one of the significant Payment methods used in India. It supports various businesses that support online payments through numerous methods.
To enable safe and effective online transactions, CCAvenue provides a number of features and services.
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Set up Fee |
It’s free for the economy page and later costs INR1200 in the 1st year. |
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Annual Fee |
|
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Transaction Fee |
It supports more than 200 payment methods with EMI options. |
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Supported Currencies |
It supports INR and more than 27 international countries. |
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Acceptance and Onboarding Time |
1-2 days |
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E-commerce Integration |
Magento, Opencart, Zancart, etc. |
BILLDESK
Billdesk is a well-known online payment gateway and bill payment service provider in India based in Mumbai. It provides a variety of payment solutions to both Consumers and businesses. BillDesk is a payment gateway that allows retailers to accept online payments from their consumers.
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Set up Fee |
Free |
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Annual Fee |
Start-up Plan-Free, Advanced Plan- INR 30,000 |
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Transaction Fee |
0.90% of each transaction plus 18% GST |
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Supported Currencies |
It supports INR and more than 70 currencies. |
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Acceptance and Onboarding Time |
1-2 days |
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E-commerce Integration |
Magento |
JUSPAY
Juspay is an Indian Fintech company that offers online payment solutions and services to businesses that accepts digital payments and upgrade customers’ payment service. Juspay provides numerous products and services related to online payment.
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Set up Fee |
Not Free |
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Annual Fee |
Not Free |
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Transaction Fee |
They provide Custom Transaction |
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Supported Currencies |
It supports INR as well as other international currencies like USD, EUR, JPY, AUD, etc. |
|
Acceptance and Onboarding Time |
It can vary depending on the task or project. |
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E-commerce Integration |
Magento |
ZAAKPAY
Zaakpay is a payment gateway and online payment solution provider based in India. It offers businesses that can accept online payments from customers to several payment methods.
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Set up Fee |
Free |
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Annual Fee |
Free |
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Transaction Fee |
|
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Supported Currencies |
It supports INR as well as foreign currencies of more than 100, such as USD, EUR, GBP, AUD, and CAD. |
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Acceptance and Onboarding Time |
It can vary depending on the task or project. |
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E-commerce Integration |
Hosted Checkout, API integration, and Plugin Integration |
RAZORPAY
RazorPay is an Indian Payment Gateway and financial technology company that provides a wide set of solutions to accept online payments.
Razorpay offers payment gateway solutions that allow businesses to accept online payments via multiple channels, such as credit/debit cards, net banking, UPI, wallets, and more.
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Set up Fee |
Free |
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Annual Fee |
Free |
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Transaction Fee |
|
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Supported Currencies |
It supports more than 100 countries around the world, such as INR, AUD, GBP, USD, etc. |
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Acceptance and Onboarding Time |
4-5 days |
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E-commerce Integration |
This payment gateway combines with all leading CMS e-commerce platforms. |
CASHFREE PAYMENTS:
Cashfree Payment is an Indian Payment Gateway and payment processing company that provides several solutions to businesses for online payments.
This payment provides services to help businesses and organizations accept payments.
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Set up Fee |
Free |
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Annual Fee |
Free |
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Transaction Fee |
Net Banking, Digital Wallets, Google Pay, and Debit/Credit Cards earn 1.90%. UPI and RuPay: 0% |
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Supported Currencies |
It supports INR as well as 23 more foreign countries. |
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Acceptance and Onboarding Time |
2-4 days |
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E-commerce Integration |
Magento, Shopify, etc. |
DIRECPAY
Direcpay is an Indian Payment service that offers businesses solutions to accept payment. It enabled businesses to integrate different payment methods into their websites and platforms in order to facilitate smooth and safe transactions.
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Set up Fee |
Not Free |
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Annual Fee |
Direcpay does not have an Annual Fee but has a monthly fee of INR 28 for merchants who process less than INR 1,000 in transactions per month. |
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Transaction Fee |
The transaction charge for Direcpay is determined by the volume of transactions processed and the payment method utilized. |
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Supported Currencies |
DirecPay supports INR and other currencies like USD, LKR. |
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Acceptance and Onboarding Time |
3-5 days |
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E-commerce Integration |
API Integration, Hosted Checkout, Plugin Integration. |
E-PAISA
E-Paisa is an Indian Payment Development company that provides several services which, includes point-of-sale (POS) solutions and payment gateway services.
E-Paisa gives businesses the tools they need to accept digital payments and manage transactions effectively.
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Set up Fee |
The setup fees for Epaisa depend on the Plan you choose. |
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Annual Fee |
Epaisa does not charge Annual Fee but has a monthly subscription of |
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Transaction Fee |
|
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Supported Currencies |
Epaisa supports INR and other international currencies like USD, EUR, AUD, JPY, MYR, etc. |
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Acceptance and Onboarding Time |
2-3 days |
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E-commerce Integration |
Shopify, Magento |
EMVANTAGE
Emvantage Payment Gateway is a payment gateway that allows businesses in India to receive payments from clients. It contains a variety of features, such as Secure Payment processing, Fraud Protection, Real-time protection.
It even provides a variety of Payment options like Credit Cards, Debit Cards, Net Banking, etc.
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Set up Fee |
The setup fee for emvantage depends upon the plan you choose. |
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Annual Fee |
The annual fee for emvantage depends upon the Plan you choose. |
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Transaction Fee |
|
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Supported Currencies |
Emvantage supports INR and other foreign currencies like USD, MYR, NZD, etc. |
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Acceptance and Onboarding Time |
3-5 days |
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E-commerce Integration |
Mobile SDKs, Plugins and Modules, Hosted Payment Page, and API Integration. |
AIRPAY
Airpay is a Financial Technology Company that offers a variety of payment solutions for businesses and consumers in India. Airpay provides a mobile POS solution, an internet payment gateway, and a mobile wallet.
|
Set up Fee |
The setup fee depends on the Plan you choose. |
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Annual Fee |
Free for Online Payment Gateway or Mobile Wallet Solutions. It charges a fee for Mobile POS Solution. |
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Transaction Fee |
The Transaction fee depends on the Plan you choose. |
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Supported Currencies |
It supports INR and other international currencies like USD, EUR, AUD, etc. |
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Acceptance and Onboarding Time |
|
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E-commerce Integration |
WooCommerce, Magento, Shopify |
Pros and Cons of Payment Gateways for E-commerce Websites:
Pros-
- Payment Gateway uses a prominent level of Security that protects customers’ personal payment information, such as encryption and fraud prevention.
- Payment gateways are trustworthy and have a track record of securely and effectively processing payments.
Cons-
- Payment gateways frequently charge you fees for their services. This fee can depend upon the payment gateway and the volume of transactions.
- Payment gateways can be a complicated task to set up and control.
How to choose the best Payment Gateway in 2023 India?
E-commerce website development is building a website that allows companies to advertise and sell their goods and services to clients online. Before choosing the best payment gateway features for an e-commerce website, you should consider various factors to verify that the gateway aligns with your needs, goals, and customer expectations.
Security- Security plays an important role in choosing the Best Payment Gateway method. Confirm whether your gateway is PCI DSS complaints and provides Fraud Protection Features.
Payment methods- The payment gateway should support the payment methods your customers prefer, including credit/debit cards, digital wallets, and overseas payment.
User Experience- The payment gateway that you are using should be user-friendly and easy to use. They should be customizable and responsive, which should match your brand.
Fees- Payment gateway may vary, with different fee structures that include Transaction Fees, setup fees, and monthly fees. To make sure the costs fit your budget and business volume, compare them.
Mobile Friendly- Since, Online shopping using mobile phones is done frequently these days, choose a payment gateway that supports the Mobile platform.
Contract Terms- It is necessary to read the terms of the contract. Some Payment Gateway might need a long-term contract, while some are more flexible.
Customer Support- The payment gateway that you are choosing should have reliable Customer Support. Check whether the Payment Gateway offers 24/7 support and has a reputation for handling problems quickly.
Data Analytics- Examine if the payment gateway provides Analytics and reporting tools that will enable you to monitor and examine transactional data.
Global Reach- If your company conducts business abroad, make sure that the payment gateway supports various currencies.
It is important to choose the right ecommerce payment system for your e-commerce website that is most suited for your company by carefully considering all of these factors.
Types of Payment Gateways:
There are four types of Payment Gateways which may vary from Business needs and transaction scenarios, such as are:
- Self-Hosted Payment Gateways
- API Payment Gateways
- Hosted Payment Gateway
- Offsite Payment Gateway
Self-Hosted Payment Gateway- If you wish to have significant control over your user, you can choose a self-hosted payment such as Shopify.
The advantage of using a self-hosted payment gateway is that you may finish your transaction entirely on the website of the Supplier, which speeds up the checkout process.
The disadvantage is that you won’t have access to a full technical support system.
API Payment Gateway- API Payment Gateway is best for a Website owner who wants to take full control over their website. This method allows greater customization and has good control over the checkout experience.
API is defined in interface definition language (IDL). Once the APIs are defined, they can be implemented in any programming language. There are many different types of APIs, such as Web APIs, Database APIs, File APIs, and Graphics APIs.
Hosted Payment Gateway- It is a type of payment method in which the page is redirected to a third-party page to complete the payment process.
This method temporarily takes your customer away from your website to the gateway’s page to enter the payment details, and then the customers are directed back to your page once the transaction is complete.
Offsite Payment Gateway- Offsite Payment Gateway is an action that takes place on its own platform.
In this type of gateway, customers are redirected to another third-party page for the payment process and then are brought back to your site after the transaction process.
Conclusion:
Before selecting the best payment method for an e-commerce website, it is important to research, contrast features, and read user reviews before making a Final decision. Consider your unique needs and interests because what works best for one e-commerce business may not be the greatest option for another.
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