If you’ve just set up your eCommerce store or decided to digitize your small business and sell your products online, you need a payment gateway to accept payments from your customers. With a lot of payment gateways available in India that allow customers to make payments online, it could be quite difficult to choose the best payment gateway for your eCommerce store. However, we have made the process of picking the best payment gateway for your online store easier by compiling a list of top payment gateways in India in 2022. Here are the top payment gateways that you can integrate with your website or mobile application for seamless online transactions. 

What is a payment gateway and how does it work?

A payment gateway is an application that makes the entire process of online payment more streamlined and secure. It acts as a secure link between your website or application and the bank. 

  1. The role of payment gateway begins when a customer wishes to purchase on your eCommerce store. 
  2. Your website or application that you have integrated with the payment gateway sends the payment information (Debit/Credit card, UPI or net banking details) of the customer to the payment gateway. 
  3. The payment gateway then verifies and confirms the payment details with the bank. 
  4. Upon successful verification, the amount is released from the customer’s bank account and transferred into your account. 

Thus, the payment gateway acts as a medium that ensures simple and secure online money transactions.

What do you need to consider before setting up a payment gateway for your eCommerce store?

Before you finalize the best payment gateway in India for your eCommerce website or your online store, you need to consider a few important factors.

  • Overall payment gateway costs, including setup fee, annual fee, and Transaction Discount rate (TDR).
  • Settlement period (The time taken by the payment gateway to deposit the due amount to your bank account.)
  • User Interface of the payment gateway.
  • Mobile app compatibility.
  • CMS support.
  • Payment options such as Credit/Debit cards, net banking, Mobile wallets, UPI, EMI options, etc.
  • After-sale support and customer care.

Top payment gateways in India in 2023

1. CashFree

CashFree is one of the top payment gateways in India that helps businesses to collect and distribute payments. It analyses the designation of your website or application and offers iframe, pop-up, smart analytics, and various other features. It also supports several eCommerce CMS systems and has ready-to-use integrations for Shopify India, WooCommerce India, and Magneto.

Settlement time:

24 hours – 48 hours

Transaction fee per transaction:

  • 2% 1.90% for Google Pay, Digital wallets, Net banking, and selected Credit/Debit cards.
  • 0% for UPI and RuPay.
  • 2.5% for Paylater and Cardless EMIs.
  • 3.5% + INR 7 for Visa and Mastercard international Credit/Debit cards.
  • Standard payment gateway charges for Paypal and Paytm Payment Gateway integration
  • 2.95% on Diners Club and American Express cards.

Payment options:

100+ payment options including digital wallets, UPI and various EMI options.

Top brands that use Cashfree:

Zomato, Cred, Dunzo, MedLife, Delhivery, Zoomcar, Nykaa.

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2. Razorpay

Razorpay is one of the few payment gateways in India that offers businesses to accept, process, and disburse payments seamlessly with its product suite. It is specifically developed to suit Indian users and it supports a completely online onboarding to make you quickly go live.

Settlement time:

3 days

Transaction fee per transaction:

  • 2% for Indian consumer Credit/Debit cards, Net banking, UPI, and Mobile wallets.
  • 3% for Diners and Amex Cards, International Cards, EMI (Credit Card, Debit Card & Cardless) & Corporate (Business) Credit Cards.
  • 18% GST is applicable on the transaction fees.

Payment options:

100+ payment options including PayLater and NEFT/RTGS payments.

Top brands that use Razorpay:

Facebook, Airtel, Swiggy, Zerodha, Curefit, Disney-Hotstar, 1mg.

3. CCAvenue

CCAvenue is one of the largest payment gateways in India that accepts payments in 27 foreign currencies including the Euro, American Dollar, Pound Sterling, and UAE Dirham. If you’re looking to serve customers in major global markets out of India, CCAvenue might just be the payment gateway you’re looking for. 

Settlement time:

One week.

Transaction fee per transaction:

  • 2% for domestic Credit/Debit Cards, Digital Wallets, net banking, and UPI.
  • 4.99% for international Debit/Credit Cards.
  • 3% for Corporate/Commercial Credit cards (Domestic).
  • 4% for American Express, Amex EMI and Diners Club Cards.
  • 4.99% for 27 Multi-currency options.
  • Annual Software charge of ₹ 1200 waived off for the first year

Payment options: 

200+ payment options including EMI options.

Top brands that use CCAvenue:

Myntra, Lakme India, Airtel, Godaddy, Cleartrip, Starbucks, Bookmyshow.

4. Instamojo

Unlike other top payment gateways in India, with Instamojo, you can create a merchant bank account even without a website. It is considered one of the best payment gateways for the purchase of digital files, music, videos, etc as the payment process is quick and has bank-level security. It supports all major eCommerce CMS systems including Magneto and OpenCart.

Settlement time:

3 working days

Transaction fee per transaction:

  • 2% + INR 3 for UPI, Domestic Debit/Credit cards, Net Banking, Wallets, and Pay Later. EMI options are available for select banks.
  • 3% + INR 3 for International Cards and American Express Cards. 
  • 18% GST is applicable on the transaction fee.

Payment options:

100+ payment options including NEFT/RTGS/Bank transfer and EMI. 

Top brands that use Instamojo:

UrbanClap, Dunzo, Alt News, Shriram Properties, Adani Realty.

5. EBS

If you’re searching for top payment gateways in India that are authorized by safety and process obedience followed by ISO 27001-2013 Standard, EBS is the one for you. It also has an ‘auto retry’ feature for your customers that redirects them to an intermediary page to choose another payment option when the original payment option fails. This boosts your payment success rate.

Settlement time:

2-3 days

Transaction fee per transaction:

  • 2% for Domestic Credit/Debit cards and Net banking in the Starter Pack.
  • 3% for Amex, ezeClick, JCB, Diners, Wallets, and Cash cards.
  • UPI payment option coming soon.
  • ₹ 1200 Annual Maintenance (AMC) waived off for the first year.
  • 0.3% additional TDR on EMIs for all banks except Axis Bank, Kotak Bank, and HDFC Bank.
  • ₹ 7 per transaction would be charged on International card transactions towards advanced fraud management services.
  • 18% GST is applicable on the transaction fee.

Payment options: 

100+ payment options including Wallets and EMI.

Top brands that use EBS:

Policybazaar, FirstCry, Kerala Tourism, Sikkim Tourism, J&K tourism development corporation.


As a result of the ongoing digital disruption, eCommerce is growing rapidly in India and people are getting used to shopping online. So, if you’re looking for the best payment gateway for your eCommerce business, the above list of top payment gateway in India in 2023 can help you with it. To grow your online business in this competitive market, it is better to get in touch with an experienced E-commerce website development company & steer towards success.