India’s Top 10 B2B Payment Gateways

This guide will outline and compare the top secure payment gateways for India. You can consider the features, fees, security and integration options to help you decide which one will work best for your business. As service exporting goes global and your brand begins to build, your choice of payment solution in India will become more significant, so it pays to make sure you pick the right one.

What to look for in Top 10 payment gateways in India

While B2B payment gateways in India all share the same purpose – to facilitate cross border payments for businesses operating internationally from an Indian base – they differ across a variety of features and options. In order to pick the right platform for your business, you need to know what these features are and how differences between them will impact your cost of payments, positively or negatively. 

Issues to consider in your payment gateway comparison for India include:

• Payment methods and coverage – look for a platform that supports your clients’ preferred payment methods. Offering multiple payment options contributes to boosting conversions.
• Security and compliance – ensuring secure transactions that comply with the regulatory frameworks in which you operate is critical. Good security will protect you and your clients against fraud.
• Integration – easy payment gateway integration in India enables a smooth, fast user experience internationally.
• Checkout experience and conversion – happy clients become repeat clients.
• Transparent pricing and settlement terms – transaction fees, settlement time and supplemental costs all contribute to the overall operating cost of your payment system.
• Analytics – the more you know, the better you can plan and run your business.
• Customer support – good support can never be taken for granted.
• Scalability – will your chosen payment system be able to accommodate your growing business over the coming years?

The Top 10 secure payment gateways for small to medium businesses (SMBs) in India

Here are some of the best eCommerce payment solutions in India:

• Payoneer: Payoneer is a great choice for SMBs which want a fully integrated payment platform that they can use to receive payment from customers. Its advantages include good cross-border compliance, prioritized security, simplified workflows, low fees and global scalability. Other features for Indian clients include Employer of Record (EOR) services for full end-to-end workforce management. 
• Razorpay: Razorpay offers a smooth payment system within India, integrating seamlessly with multiple marketplaces. However, the fee level is average to high for the industry, and its international presence is not as extensive as some of the other payment platforms. On the plus side, it offers excellent developer tools, making it suitable for SMEs who foresee the need for good scalability.
• CCAvenue: CCAvenue is a popular payment gateway within India and the United Arab Emirates. It offers users a good range of functionality, but at a price – the international fees come in on the high side. However, supporting more than 200 payment methods and a wide range of currencies, it’s considered a legacy provider within the market, suiting global businesses with wide international reach.
• Instamojo: This is a great choice for small businesses and sole traders in India, but its international range is limited. It’s the perfect choice for micro-sellers as onboarding is simple and it can be used as a shopfront as well as a payment gateway.
• Stripe India: Stripe India is a developer-friendly platform with a good global reach for online stores that want to sell overseas. However, fees can be on the high side.
• Cashfree: This payment gateway is excellent for bulk users – it’s fast, the domestic fees are low, and it sells itself on being able to provide instantaneous bulk payouts. It’s designed for developers, so it’s not necessarily the simplest to use.
• Paytm for Business: Paytm for Business is a popular brand with mobile-first sellers and eCommerce businesses whose focus is on the domestic market. It has good UPI/wallet integration, but the international fees are high.
• PayU: Strong on security and fraud prevention, PayU offers a smooth and scalable payment solution for mid to large eCommerce operators at volume. Clients can pay in their local currency and integration with eCommerce platforms is good.
• PhonePe Payment Gateway: PhonePe Payment Gateway offers competitive domestic fees and has a strong UPI presence, so it’s good for high-volume sellers with a focus on UPI. However, international fees may be high.
• Zaakpay: Zaakpay is a smaller provider, but with competitive domestic pricing.