Top Online Payment Systems and Ecommerce Payment Methods in India

We live in an interconnected world, and nowhere more so than in the sphere of ecommerce. SMEs across India are able to take orders and receive payments from customers all over the world, giving them a global reach that up until a few years ago no one could even dream of. The key to opening the door to this worldwide online marketplace is to have a suitable international payment processing service for your business. And there are plenty to choose from.

So before you make your decision, work out what you need from an online payment system, and check each candidate with care. Some are designed mainly for domestic payments in India, while others focus on global and cross-border payments. Some have a wider international reach, some have higher fees, some are better for specific categories of business or offer additional services that might or might not be of interest to you. Some have great customer service while others don’t.

Whichever you choose, make sure it supports the international payment flows your business actually needs.

The top payment systems for Indian ecommerce businesses

Looking to set up a cross-border payment platform to support your business? You’ll be spoilt for choice. Some of the best-known online payment processing services include:

• Payoneer
• Razorpay
• Instamojo
• Cashfree
• PayU
• CCAvenue

While they can all support different types of online payment activity, it is important to be clear about the distinction between domestic payment gateways and global payment platforms. Some providers are mainly used for accepting domestic online payments in India, while Payoneer is focused on helping Indian businesses, freelancers and online sellers receive and manage international payments from global clients, marketplaces and platforms.

Payoneer

This platform has built a solid reputation as a go-to choice for businesses, online sellers and freelancers working internationally. It’s a single-platform solution designed to support your needs for streamlined international payments, cross-border compliance and simplified workflows. Built for businesses with global ambitions, it provides secure and scalable solutions encompassing 190+ countries and territories, and 70+ currencies, with low fees and a high priority on security.

Razorpay

Razorpay’s Payment Gateway lets businesses accept online payments in India, integrating with a host of marketplace platforms. It can take payments across a wide range of methods – credit and debit cards, EMIs, PayLater, Netbanking, UPI and mobile wallets. However, it is primarily known for domestic payment acceptance in India, and businesses with significant international payment needs should compare its cross-border capabilities, fees and supported markets carefully. 

Instamojo

This is an online payment tool designed with small businesses and digital sellers in mind. It sells itself as a D2CTech platform that acts as a shopfront as well as payment processor, and comes with built-in marketing tools and domain hosting. However, it does not have the same international reach as larger global payment platforms. 

Cashfree

A full-stack connected payments and disbursal solution, designed for developers and selling itself on supporting bulk payouts. It’s fast and popular for certain domestic payment and payout use cases, but businesses with global collection needs should check its international coverage, supported currencies and customer support carefully. 

PayU

A payment gateway that promises seamless, secure and scalable payment solutions for businesses of all sizes. It accepts payments via a variety of methods including credit and debit cards, netbanking, EMIs and UPI. Customers can pay through supported payment methods, and the platform integrates with users’ e-commerce sites. However, small businesses should review transaction fees, especially where cross-border or international card payments are involved. 

CCAvenue

One of the more popular online payment systems in India and the UAE. The platform has a wide range of functionality for online payment acceptance.

Reasons for choosing Payoneer as your payment service provider

When it comes to online payment processing for small businesses in India, there are multiple ecommerce payment methods to choose between. Each of them has a slightly different range of functions, reach and specialties, which might give you cause to choose one platform over another. However, if your priority is receiving global payments, marketplace payouts or international B2B payments, you should look for a provider that has a proven track record in cross-border payments, a broad choice of services, transparent fees, strong security and a good reputation among international users. 

Payoneer in India offers solutions to support these needs. Here are some of the reasons why Indian SMEs are choosing Payoneer:

• Payoneer enables you to receive payments from clients all over the world in more than 70 different currencies. Users can hold balances in multiple currencies.
• The platform integrates seamlessly with more than 2,000 other platforms and marketplaces, including Amazon, Walmart, eBay and Airbnb.
• Fees may apply. See Fees page for details

Another reason for Payoneer’s popularity is its flexibility when it comes to currency and withdrawal options. It offers features that are often more favorable than those of traditional banks.

• Payoneer provides competitive FX rates. Users can hold multiple currencies and convert when rates are most favorable.
• Money can be withdrawn to your Indian bank account, in INR, typically within 1–2 business days, subject to bank processing times, compliance checks, and cut-off times..
• Payoneer offers global receiving accounts in a range of currencies to enable you to receive money as a local vendor in the US, UK, Europe and Japan.
• Payoneer remains the choice of freelancers and startups as users don’t have to be registered companies – it’s open to sole traders and freelancers.

Beyond payments, Payoneer also helps with business management, security, and global accessibility, making it a trusted partner for growing businesses.

• Payoneer is able to manage your invoicing and accounts receivable processes.
• Payoneer employs security controls and operates through licensed/regulated affiliates where required.
• Payoneer’s customer service is among the best in the sector and its website features a large resource and support area.
• Using the Payoneer app, you can send and receive payments from wherever you are in the world.

How to receive international payments with Payoneer

Payoneer offers solutions for small businesses, and if you need to know how to accept online payments on your website, they make it easy. Payoneer’s wide range of tools and services enable users to pay and receive payment from global contractors, suppliers and customers safely and securely.

• Invoicing made easy – Payoneer can issue invoices on your behalf to customers in 190+ countries.
• Receiving accounts – these make it as easy for customers to pay you as paying into a local bank.
• Seamless integration – wherever you’re selling, Payoneer is there with you. The platform offers seamless integration with more than 2,000 marketplaces, networks and platforms.
• Support for global online sellers – Payoneer helps online sellers receive marketplace payments from global platforms and withdraw funds locally in INR. 

With Payoneer, you’ll be opening your door to the global market. We’ll give you the ability to expand to wherever your business takes you. We work with local requirements through our licensed affiliates where applicable, and we’ll connect you to partners, customers and markets who already trust us for their payment solutions.