The Indian e-commerce industry has flourished in the last two decades. And with this flourishing industry, another industry has emerged that works closely with e-commerce; the industry of electronic payment gateways. These payment gateways facilitate e-commerce companies to accept electronic payments on behalf of their customers through various modes like credit card, debit cards, e-wallets, net banking etc. The money is then transferred into the business’ linked account. Here are some of the most popular payment gateway solutions in India.
Instamojo: Despite entering the market as late as in 2012, Instamojo found a client base very quickly and soon became one of India’s largest gateway service providers. Instamojo has been powering over 300,000 businesses across India and is known for its secure gateway, akin to that of a banking institution. The system is PCI-DSS complaint and one of the easiest to operate. In this world of start-ups and small businesses, Instamojo is a huge hit. It also helps that there are no set up fees.
CC Avenue: Regarded as one of the safest payment gateways out there, CC Avenue is used by almost 85% of the e-commerce companies in India, whether it is Myntra or Snapdeal, Naukri.com or MakeMyTrip. CC Avenue offers a free Start-up pro plan but if you chose the privilege plan, you have to shell out ₹30,000 annually. There is also an annual maintenance charge of ₹1200 on the start-up pro plan, from the second financial year onwards.
Payzapp For Business: Introduced by HDFC Bank, Payzapp For Business is a new age, digital payment gateway solution that allows merchants to bill and receive cashless payments via mobile. You can carry transactions from your cellular phone using two simple steps; merchants can just log in to their dashboard and enter customer details (invoice, bill amount etc.) and send the payment request to the customer. Customers can follow the e-mail/sms link to make the payment via PayZapp for Business. The service is meant to eliminate business delays like relying on delivery services or offering customer credit.
Razorpay: Tied up with popular e-wallet companies like PayUMoney, FreeCharge, JioMoney, Mobikwik and even PayZapp by HDFC, Razorpay has also created its niche identity in the market. Razorpay offers two types of plans to merchants; the popular free standard plan, mostly preferred by start-ups and the enterprise plan that bigger businesses rely on. The company charges a small transaction fee of 2% and onwards, but offers custom pricing to clients with larger transactions. Goibibo, Quikr and Yatra are Razorpay’s popular clients.
Direcpay: An arm of the Times Group’s ‘Times of Money’, Direcpay was one of the early pioneers in the field of payment solutions in India. The company provides a quick, secure and reliable online payment gateway which is integrated with credit cards, debit cards, mobile payments and net banking to process e-Commerce payments. DirecPay offers three plans ranging from free to ₹20,000 annually. Famous clients include Google India, Rediff.com. PayTM etc.
Instamojo: Despite entering the market as late as in 2012, Instamojo found a client base very quickly and soon became one of India’s largest gateway service providers. Instamojo has been powering over 300,000 businesses across India and is known for its secure gateway, akin to that of a banking institution. The system is PCI-DSS complaint and one of the easiest to operate. In this world of start-ups and small businesses, Instamojo is a huge hit. It also helps that there are no set up fees.
CC Avenue: Regarded as one of the safest payment gateways out there, CC Avenue is used by almost 85% of the e-commerce companies in India, whether it is Myntra or Snapdeal, Naukri.com or MakeMyTrip. CC Avenue offers a free Start-up pro plan but if you chose the privilege plan, you have to shell out ₹30,000 annually. There is also an annual maintenance charge of ₹1200 on the start-up pro plan, from the second financial year onwards.
Payzapp For Business: Introduced by HDFC Bank, Payzapp For Business is a new age, digital payment gateway solution that allows merchants to bill and receive cashless payments via mobile. You can carry transactions from your cellular phone using two simple steps; merchants can just log in to their dashboard and enter customer details (invoice, bill amount etc.) and send the payment request to the customer. Customers can follow the e-mail/sms link to make the payment via PayZapp for Business. The service is meant to eliminate business delays like relying on delivery services or offering customer credit.
Razorpay: Tied up with popular e-wallet companies like PayUMoney, FreeCharge, JioMoney, Mobikwik and even PayZapp by HDFC, Razorpay has also created its niche identity in the market. Razorpay offers two types of plans to merchants; the popular free standard plan, mostly preferred by start-ups and the enterprise plan that bigger businesses rely on. The company charges a small transaction fee of 2% and onwards, but offers custom pricing to clients with larger transactions. Goibibo, Quikr and Yatra are Razorpay’s popular clients.
Direcpay: An arm of the Times Group’s ‘Times of Money’, Direcpay was one of the early pioneers in the field of payment solutions in India. The company provides a quick, secure and reliable online payment gateway which is integrated with credit cards, debit cards, mobile payments and net banking to process e-Commerce payments. DirecPay offers three plans ranging from free to ₹20,000 annually. Famous clients include Google India, Rediff.com. PayTM etc.
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