Top Payment Gateways in India 2022

Currently, the world has experienced a huge growth in online payments, and with the appearance of COVID-19, people have preferred to use online payment methods for almost everything that is safe and secure. More and more people are adopting cashless method to transfer money.

In all this, the work of payment gateway comes into play. A payment gateway is basically a merchant service that connects users’ bank accounts with the platform where users need to transfer their money.

A bank may provide a payment gateway to its customers, there is also a specialized financial service provider such as a payment service provider that provides it as a separate service.

Whether you have a small business or an established e-commerce business, good paid service is an essential factor for this.

The payment gateway platform empowers users to transact online through various payment modes like net banking, credit card, debit card, UPI and other online payment apps. It is a third-party platform that provides the user with the ability to securely transfer their money to the merchant’s payment portal. So in this article, we will talk about the top payment gateways in India 2022.

List of Top Payment Gateways in India 2022

Razorpay

The Bangalore-based RazorPay was founded in 2014 by IIT Roorkee alumni Harshil Mathur and Shashank Kumar, it is one of the best payment gateways in India. Many entrepreneurs using fintech platform RazorPay for their business have noticed some increase in their conversion rate.

It has helped businesses solve the problem of digital payments. This is because of their smooth user experience. And also, the refund process is easy and automated.

If the customer applies for a refund, Razorpay will automatically get the refund if the companies set it up without any additional widgets or codes.

Users can use Razorpay subscription to execute automatic recurring transactions on various payment modes through a platform built for automation.

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Paytm

Based in Noida (UP), Paytm was founded in 2010 by Vijay Shekhar Sharma. It has emerged as a leading payment gateway in India due to its online customer base along with the very popular Paytm Wallet.

The platform also supports domestic credit cards such as Visa, MasterCard, Maestro, Amex, Discover and Diners.

Online transactions with Paytm can be done anytime and from anywhere and it has also served some of the biggest eCommerce companies like Jabong, OLA, Cleartrips, RedBus, Goibibo, Zomato etc.

Instamojo

The Bengaluru-based Instamojo was founded in 2012 by Sampad Swain, Akash Gehani and Aditya Sengupta, It is one of the top-rated payment gateway.

Started as a solution provider for digital payments, Instamojo has grown into a robust online payment gateway for enterprises like Micro, Small and Medium to start, manage and grow their business online.

The company aims to sell digital goods and collect payments online.

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Users can enroll themselves in Instamojo with a bank account and start an online sales business. They can also collect material goods and payment for workshops or events.

CCAvenue

The Mumbai-based CCAvenue was founded in 2001 by Vishal Mehta and Vishwas Patel, It is a leading payment gateway service provider authorized by Indian financial institutions.

Customers can transact online through credit cards, debit cards, net banking, digital and mobile wallets, mobile payments and cash card modes.

The company offers its customers smooth, fast and secure transactions. Currently, it powers over 85% of businesses in India.

PayUbiz

PayUbiz is an Indian online payment gateway for enterprises that is available in multiple currencies across the world.

It serves businesses around the world to accept online payments with credit cards, debit cards and net banking. More than 80 of the top 100 e-commerce companies in India prefer to use PayUbiz for their payments.

Some of the biggest eCommerce brands and online service providers like Myntra, Grofers, Urban Ladder, Alt Balaji, BookMyShow, Ola, Jabong, etc. are using PayUbiz to accept online payments for transportation and food delivery etc.

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Cashfree

The Bangalore-based Cashfree was founded in 2015 by Akash Sinha and Reeju Datta, It is a low cost and popular payment gateway in India.

It helps businesses in India to accept online payments from various payment channels.

The best part about the company is that it has direct integration with multiple banks which makes Cashfree a fast and reliable payment gateway.

The company is the only payment gateway in India that offers a wide range of payment options like Visa, Mastercard, Maestro, RuPay and Amex including 70+ more net banking options. It also supports UPI, NEFT, IMPS and PayPal.

BillDesk

The Mumbai-based BillDesk was founded in 2000 by M.N. Srinivasu, Karthik Ganapathy and Ajay Kushal, It is an Indian online payment gateway company.

It provides bill payment and settlement services to large billers like electricity, water, insurance and other service providers. In addition, it also provides customers with the ability to decide how and when to make payments.

It is a one-stop solution for customers through which customers can make all their payments anytime and from anywhere.

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HDFC

We all know about HDFC, it is one of the biggest banks in India. Its payment gateway is used by many big organizations like VSNL, Sify, IRCTC, etc.

If users wish to use HDFC on the website or mobile app, they shall use their EPI payment gateway services.

Some of the benefits of HDFC payment gateway are instant settlement, 100% chargeback facility, facility to accept payments in 15 international currencies, easy integration with existing applications and support for various shopping cart applications.

PayU

PayU (formerly known as PayU Money) is the leading payment gateway in India that empowering 350,000+ businesses.

It provides payment gateway solutions to online businesses through its state-of-the-art and award-winning technology.

It is one of the best multi-currency payment gateways to accept online payments.

The company requires minimal development effort, easy sign-up, and a quick onboarding process. Users can start accepting payments securely and seamlessly within their iOS, Android or Windows apps within minutes with their 100% online hassle-free onboarding process.

Atom

The Mumbai-based Atom was incorporated in 2006, and promoted by FT Group, Currently it is one of the most popular payment gateway in India.

It is an end-to-end payment service provider offering a wide range of payment services and solutions through online and offline platforms.

The company supports payments through internet, IVR and mobile applications using credit cards, debit cards, net banking and prepaid cards. It has completed over 15 million transactions and is used by thousands of merchants across the country.

It is completely secure as it is backed with PCI DSS version 3.2 and 256-bit encryption which ensures a safe and secure transaction.

PayKun

Bhavnagar, Gujarat-based PayKun was founded in 2018 by Nirav Solanki, Vijay Yadav, Nikunj Yadav, Prashant Kambad and Deepak Dabhi, It is an easy solution for online payments for all types of businesses including small businesses and medium to large.

Its payment gateway is designed to ensure that online payments are safe and secure for both customers and vendors.

The company provides free plugins and SDKs readily available on the Internet for websites and mobile applications to integrate with all major platforms. It is featuring by over 120 payment options which include various bank credit cards, debit cards, net banking and wallets to accept payments with ease.

Frequently asked questions (FAQs)