Top 10 Trusted Payment Gateway in India 2023
Want to know which payment gateways is the best in india ? Don’t Worry! We’ve got you covered with the 10 top-rated Payment Gateways in India for 2023. Check out the options and find the one that suits you best.
India is rapidly moving towards becoming a cashless economy, and payment gateways are playing a critical role in facilitating this transition. Online payment gateways have become an essential part of the digital ecosystem in India, with a wide range of options available to consumers and businesses alike.
According to a report by Statists, the digital payments market in India is expected to reach a transaction value of US$1.17 trillion in 2023. This growth is driven by the increasing adoption of digital payments in the country, especially among younger generations who are more tech-savvy.
In this blog, we have complied a list of india’s top 10 payment gateways for the upcoming year 2023. If you are a business looking for payment gateway services, this blog should help you get some perspective.
What is a Payment Gateways?
Payment gateway is a network through which your customers transfer funds to you. Payment gateways are very similar to the point-of-sale terminals used at most brick and mortar stores. When using a payment gateway, customers and businesses need to work together to make a transaction.
Once your customer has placed an order, the payment gateway verifies the customer’s card details and checks if they have enough funds in their account to pay you.
How To Choose Right Payment Gateway For Your Business?
As managing payments is an essential part of the success of any business, choosing the right payment gateways is an important decision to make.
Here are the Factors you need to consider when choosing a Payment Gateway:
Payment Security: A secure payment system will also reassure your clients and strengthen their trust in your company.
Customer Support: Your payment service provider must always be reachable and have a quick turnaround when addressing customer payment-related concerns.
Processing Speed: The payment gateway should ensure that all customers have smooth transactions and that nobody has prolonged downtime or other problems with payment processing.
Quick & Easy Integration: Make sure the payment gateway provider you select has a simple onboading and integration process that doesn’t take long.
Pricing: Make sure the payment gateway provider you choose delivers the most value for your money and meets your budget requirements.
Top 10 Payment Gateways in India for 2023
Here is the list of the top 10 payment gateways in India for 2023 you must know. Have Look 😎
As managing payments is an essential part of the success of any business, choosing the Cashfree Payment Gateways is an Right decision.
💪Features
Activity Dashboard
Customisable Report
Data Import/Export
Data Security
Debit/Credi Card Processing
🤩Pros
120+ Payment Options
Good Customer service
😰Cons
Relatively expensive
Delayed communication
PayU Payment Gateways is Inida’s Leading Payment solution provider, serving over 5 lakh businesses. PayU enable businesses to collect online and offline payments vai 150+ payment methods, including Credit Cards, Debit Card, Net Banking, EMIs, BNPL, QR, UPI, Wallets, and More.
💪Features
ACH payment processing
Activity dashboard
Billing and Invoicing
Compliance management
🤩Pros
Good Customer Support
Easy Integration
😰Cons
Not User-Friendly
Frequent site Crashes
Razorpay Payment Gateways is an indian payments solution that enables businesses to accept, process, and disburse payments through its product suite.
it gives you to all payment method, including credit and debit card, net banking, UPI, and other popular wallets.
💪Features
100+ payment options
PCI DSS compliant
Dashboard reporting
Recurring/ subscription billing
🤩Pros
Comprehensive API documentation
Quick and easy to set up
😰Cons
Only domestic currencie support
No standard process for onboarding
Slow account activation
4. Paykun
The Paykun payment gateway caters to enterprises, SMEs, NGOs, eCommerce brands, and many other sectors. The payment solution is a mobile-optimized website, which caters to QR transactions, along with other default methods. PayKun offers single-click easy refund, payment failure downtime options, and subscription payment methods to merchants.
💪Features
Merchant Dashboard
UPI Autopay
QR-Based Payments
Invoice Payments
🤩Pros
Instant Settlement
120+ Payment Options
1 hour approvals and onboarding time
😰Cons
No Cons 🥰
5. PayG
PayG Payment Gateways is a customized, Fully integrated, Omni channel Payment Solutions Provider that will assist your business in growing by easily and securely collecting payments from customers vai any device in any mode.
💪Features
Merchant Dashboard
UPI Autopay
QR-Based Payments
Invoice Payments
🤩Pros
Simple and Smooth transactions
Good Customer Service
😰Cons
Increased Payment Failures
Confusing Onboarding Process
6. Paytm
Paytm Payment Gateways is a Noida-based Provider of financial services and digital payments. it’s a mobile e-commerce site that serves as the go-to place for quick online recharges, DTH, data card and Metro card recharges, as well as quick payments for mobile bills.
💪Features
Recharge and pay bills
Book travel tickets
Book entertainment tickets
Secure and Fast
🤩Pros
Smooth transactions
Multipal payment options
😰Cons
Poor user Interface
Bad Customer Support
7. Mobikwik
MobiKwik Payment Gateways is one of india’s largest mobile wallets and Buy Now Pay Later (BNPL) players. Compining the ease of regular mobile payments with the advantages of BNPL, it aims to satisfy the unmet credit demands of the rapidly expanding digital payment user base.
💪Features
Accounting Software Intergration
Reporting / Dashboards
Accepted Credit Cards and Debit Cards
ACH Payments and eCheak Processing
🤩Pros
PCI DSS compliance
Fraud Protection Tools
😰Cons
Doesn’t Support International Transactions
8. Easebuzz
Easebuzz Payment Gateways is a software-enabled payment platform that helps SMEs with digital payments and offers reliable payment solutions that can help them grow their business seamlessly in the market.
💪Features
Billing and Invoicing
Data Security
Credit/Debit Cards Processing
Cryptocurrency Processing
🤩Pros
Simple and Easy-to-use Payment APIs
PCI DSS Secure
😰Cons
Doesn’t Support International Transactions
9. Paypal
Users of PayPal can send money to friends, family, coworkers, and more quickly and easily. You must first create an account to use paypal to send and receive money. PayPal Payment Gateways accounts can be created at no cost with just an email address.
💪Features
Multiple currency support
Interactive UI
Invoicing
Cloud integration
🤩Pros
Easy and straight forward to use
Encrypts all data and keeps info safe
😰Cons
Aggressive Account Freezes
Business transaction require fees
10. CC Avenue
CC Avenue Payment Gateways is one of the largest payment gateways providers, with thousands of marchants on board and a presence in south Asia and india, Providing Multi-Currency, Multiple payment option Online payments processing services.
💪Features
Easy Integration
Responsive transaction page
Real-time Authorisation
Secure and Fast
🤩Pros
Smooth transactions
Various Pricing Plan
😰Cons
Delayed Settlements
High failures in International Transactions
Bad Customer Support
Read More About
Conclusion
This was our list of the top 10 Payment Gateways in india for the upcoming year . As technological advancements keep increasing, you should ensure that your business is integrated with emering technologies.
A payment gateways ensure safe and secure transaction for both your business and its customers. Make sure you choose a payment gateways with all the features mentioned above for smooth running of your business.
Thanks For Reading 🥰
