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In India, payment gateways are becoming increasingly popular and more accessible in 2023. In this article  we describe Top 10 List of payment gateways of India. These gateways provide a secure and convenient way to make payments online. The most popular payment gateways in India today include Paytm, Razorpay, Instamojo, PayPal, PhonePe, Amazon Pay, Google Pay, BharatPay, CCAvenue, PayU, and MobiKwik. All of these payment gateways offer different features and services for customers, so it is important to research and compare them to find the best one for your needs.


1. Pay Pal India

 2. Pay U Money


3. Pay tm.


4. CC Avenue


5. Rozar Pay


6. Instamojo


7. UPI Payments


8. Bill Desk


9. Mobikwik


10. Cash-free Payments:-

The payment gateway is the network through which your customer transfers funds to you. Digital payment gateway is a service that is used for to make and receive& payments in online platform. This payment technology is the fastest & simplest way to collect payments digitally. 


On November 20, 2010, the NPCI launched Immediate Payment Services (IMPS) to offer an instant 24×7 interbank electronic fund transfer service through mobile phones.


The first online payment system was introduced by RBI in 1990. Coca-Cola is credited with launching the world’s first digital payment system back in 1997 with several vending machines in Helsinki. Business Wire India is the first payment gateway to launch the Unified Payment Interface (UPI) for its +10,000 merchants.


In the first e-payment in 1980, the Central Bank of India introduced its first credit card while HSBC opened the first ATM in Bombay. In 2005, NEFT was introduced and then the country’s first e-wallet, the Oxygen Wallet, was launched in July 2004.


The introduction of the internet in India in 1995 marked the beginning of the e-commerce business in India. 


1. PayPal India:- 

PayPal India is one of India’s leading e-commerce payment gateways.  Pay Pal Holdings is an American multinational financial technology company operating an online payments system in the majority of countries. Paypal is the top Indian payment gateway.


We support online money transfers. It serves as an electronic alternative to traditional paper methods (i.e.) checks and money orders.


It is established in 1998. Its headquarters is in San Jose, California in the US. It was established in 1998, as Confinity. PayPal went public through an IPO in 2002.


The company was ranked 143rd in the 2022 Fortune 500 largest United states corporation by revenue.In March 2000, Confinity merged with x.com, an online financial services company founded in March 1999 by Elon Musk, Harris Fricker, and Christopher Payne.x.Com renamed Paypal in 2001.

Top10 List of Payment Gateways in India- 2023
PayPal Logo - India's leading e-commerce payment gateway

By 2010 Pay pal had over 100 million active user accounts in 190 markets through 25 different countries.In Paypal services allow people tomake financial transactions online granting the ability to transfer funds electronically between individuals and businesses.


Through Paypal, users can send or receive payments for online auctions on websites like e-Bay, purchase and sell goods and services, donate money or receive donations.


On 8th November 2017, Pay Pal launched domestic operations under PAY Pal payments Private Limited. Paypal currently provides digital payment solutions for merchants and customers in India.


As of 2020 Pay pal supports the domestic card system RuPay and plans to further integrate UPI in collaboration with the National Payments Corporation of India (NPC).


Paypal charges for domestic payments s2.5% of transactions +3 fixed fees.

Pay Pal is legal in India. Pay Pal India follows the rules and regulations laid out by the Indian Government and the Reserve Bank of India.

2. Pay U Money:-

Pay U money is a payment app adopted by several business houses in India including Book My show, Jabong, YAP ME, Amity University, Zomato, Travelyarri, and so on. It is one of the popular payment gateways in India.


PayU allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018the services are available in 17 countries.


Pay U is owned by Nasper Group.Its founders Jose Velez, Martin Schirimpff, Arjan Bakker, Niten Gupta and Shailaz Nag in 2002.

Top10 List of Payment Gateways in India- 2023
Logo: PayUX India’s leading ecommerce gateway for payment

PayU is a payment gateway for online businesses helping to collect payments from their customers.

 Pay U charges a service fee which is 2%+GST on every transaction for Various modes of payments such as debit card, credit card, net banking and wallet. etc.


Pay U trusted partner to process debit and credit card transactions. It is safe with Pay, U.Pay U provides us with time payments, settlement time was faster than others.




3. Pay tm:-

PayTM is one of the leading e-commerce payment gateways in India. PayTM is an Indian mobile payments and financial services company. Paytm was founded by Vijay Shekhar Sharma in 2000. He is the MD & CEO of Pay tm. It was founded in August 2010. Its headquarters are in Noida, Uttar Pradesh. It is now in India very popular payment gateway.


Its parent company One97, communication Limited (OCL) got listed on the Indian stock exchange on November 18, 2021. In FY2022, the company registered a revenue growth of 77% at Rs.4974 Crore.


Paytm started off as a pre-paid mobile and DTH recharge platform, and later added data cards, postpaid mobile and landline bill payments in 2013.


In March 2015 Paytm received its huge stake from the Chinese e-commerce company Alibaba Group & Ant financial services Group.


Top10 List of Payment Gateways in India- 2023
Paytm Logo - India's leading ecommerce payment gateway.

Alibaba Group affiliate took a 40% stake in Pay tm as part of a strategic agreement. Soon after Ratan TATA, the MD of Tata Sons entered into PayTM in August 2016.

 In August 2015, Paytm received a license from the Reserve Bank of India to launch the Paytm Payment Bank as a separate entity. Founder Vijaya Sekhar Sharma holds a 51% share.


 It is set to launch over 100,000 banking outlets across India by the end of 2018. The bank has appointed veteran banker Satish Kumar Gupta as its new Managing Director.


In February 2017 Paytm launched its Pay to mall app, which allows consumers to shop from 1.4 Lakh registered sellers. PayTM Mall is a B2Cmodel inspired by China’s largest B2C retail platform. Paytm mall raises $200 Million from Alibaba Group.


Pay Tm charges loading money into wallet via credit card will be charged up to 2.5% including GST. You can also transfer money from Pay Tm wallet to other bank accounts at zero charges.

4. CC Avenue:-

CC Avenue provides complete, simple and secure online payment gateway services with a real-time Credit Card, Debit Card, Net Banking, Digital and Mobile Wallet, cash cards and mobile payments.CC Avenue are leading e-commerce gateway in India. It is one of the very popular payment gateways in India.


Infibeam Avenues Limited is an Indian multinational financial technology company which provides payments services globally under the brand name CC Avenue and e-commerce software services to businesses across various industries and the Government of India.


CC Avenue is a commerce service provider, authorized as a Merchant by Indian financial Institutions to appoint sub merchants to accept and validate internet payments via credit card and net banking facilities from the Sub Merchant in real-time.

Top10 List of Payment Gateways in India- 2023
CC: Avenue - Logo

CCAvenue is the payment gateway for international payments.CC Avenue payment gateway solution launched on Ist September 2001. Mr. Vishwas Patel is the  Founder and CEO of CCAvenues India.cc Avenue is one of the top 3 online payment gateway platforms in India.

 Mr. Vishwas Patel is the Director at Infibeam Avenues Limited. He is also the chairman of the Payment Council of India.CC Avenue charge only 2% of all transactions from 1st May 2020.


5. Rozar Pay:-

Rozar Pay is one of India’s leading e-commerce gateways.Rozar Pay is an India-based, fintech company that provides payment gateway services to vendors, merchants and e-commerce platforms.

 It is an online system that is designed to handle end-to-end payments that can also, be integrated with websites and apps.


The company was founded by IIT Roorkee alumni Shashank Kumar and Harshil Mathur in 2014. Its headquarters is in Bangalore, India. The idea of Rozarpay was to bring in a payment gateway for startups that can easily integrate this system into their websites.


Top10 List of Payment Gateways in India- 2023
Rozer Pay Logo - India's leading payment gateway

In 2021, Rozarpay and Mastercard joined hands to provide digital payments to MSMEs. Both companies formed a strategic partnership in which Mastercard’s digital banking solutions were combined with Rozerpay’s payment capabilities.

 This partnership is supposed to help micro, small and medium businesses to keep their operations running through digitization and prepare them for the future beyond cash transactions. This payment gateway is very popular in India.


Under the standard plan designed for small and medium enterprises, Rozarpay charges 2% per transaction.Rozer pay accepts payments from countries across the world.


International payments from Rozerpay support nearly 100 major currencies from all over the globe. You can accept international payments using Razorpay Payment Gateway.

6. Instamojo:-

Instamojo is India’s simplest online selling platform. Instamojo facilitates small businessmen, independent businessmen, MSMEs, startups, and DTC Brands with online stores, landing pages and online payment solutions to help them run their ecommerce businesses successfully.

 Instamajo is one of the leading ecommerce payment gateways. Instamojo is a web-based Indian startup payment gateway. It was  founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain.Its headquarters is in Bangalore.


Instamojo sells digital goods and collects payments online. Instamojo offers a payment gateway product. Instamojo at present provides services to 1,00,000+ businesses across India to collect payments online.


Top10 List of Payment Gateways in India- 2023
Instamajo-Indi's leading ecommerce payment gateway

Instamojo was selected as the fifth batch of 500 startups in October 2012. They received funding from angel investors like Ranjan Anandan, VP & MD of Google.

 Instamojo is the simplest payment solution where it has removed barriers of entry like technical know-how, upfront costs, providing access to distribution channels on web & mobile through various up selling 7 cross-selling e-commerce tools & features.


Instamojo charges 2%+Rs3+GST for physical goods and 5%+Rs3+GSTfor digital goods.


7. UPI Payments:-

UPI is my favorite e-commerce payment gateway in India. The Unified Payments Interface is an instant real-time payment system developed by the National Payments Corporation of India.


It was introduced by the NCPI on 11th April 2016.Unified Payments Interface (UPI) – A system that powers multiple bank accounts into a single mobile application (of any participating bank) is merging several banking features, seamless fund routing & merchant payments intone hood.


As of February 2022, there are 304 banks available on UPI with a monthly volume of 4.52 Billion transactions and a value of Rs.8.26 Lakh crore($ 110 billion).It is one of the very popular payment gateways in India.


As per the Economist Intelligence Unit report 2021, UPI made India the leader in the global real payment market followed by China and South Korea.

Top10 List of Payment Gateways in India- 2023

The apps which include UPI features are As-Phone Pe, Paytm, Bhim app, Mobikwik, Google pay, Uber, and Paytm payment Bank.

BHIM is developed by the National Payment Corporation of India (NPCI), a not-for-profit company, to provide retail payment stems in the country under the guidance of the Reserve Bank of India (IRB).


Currently in India, UPI payments are free of cost. There are no extra charges for making UPI payments.UPI money transfers and offline and online payments (across UPI, wallet, credit and debit cards) on the payment app are free.

8. Bill Desk:-

BillDesk is the leading ecommerce payment gateway in India. The company provides an online payment platform for its clients which enables website transactions. PayU acquired the Bill desk in 2021.

Bill Desk refers to the website through which individuals are offering this service through the internet. Pay U is a Netherlands-based company owned by Proses, which has been acquired by Billdesk in one of the biggest deals. It is one of the very popular payment gateways in India.

Top10 List of Payment Gateways in India- 2023
Bill-Desk-Logo-India's leading ecommerce payment gateway

BillDesk was founded by the Indian entrepreneurs M.N Srivastava, Ajay Kaushal & Kartik Ganapathy in 2000.In 2017, BillDesk launched the first Indian cryptocurrency exchange called coinome.

9. Mobikwik:-

Mobikwik is an Indian payment service provider founded in April 2009.MobiKwik provides a mobile phone-based payment system and digital wallet.It is one of the best payment gateways in India.

 In 2013, the Reserve Bank of India authorized the company’s use of the Mobi Kwik wallet.In November 2016, the company reported having 1.5 million merchants using its service and a user base of a 55million customers.

Top10 List of Payment Gateways in India- 2023
Mobikwik Logo - India's leading ecommerce payment gateway

Mobikwik is indeed the best platform to do your mobile recharge with a click from anywhere at any time. It is India,s No1 site for online easy prepaid mobile recharges like Airtel, BSNL, JIO, MTNL, Tata DOCOMO, Tata Indicom, Vodaphone, Idea.

MobiKwik charges 3.45%+GST for the transfer of money.MobiKwik is the leading ecommerce platform for ecommerce gateways in India.


10. Cash Free Payments:-

Cash-free payments are ecommerce payment gateways in India that, enable businesses in India to receive online and make payments.


Cashfree Payments is India’s leading payments and API banking company. It helps 1,00,000+businesses accept and send money and is used for multiple use cases like vendor payouts, wages payouts and bulk refunds.


Cash-free charges between 1.75% to 3% of the value of the transactions.

Mr. Akash Sinha is the co-founder & CEO of cash-free payments.


Cash-free payments are gearing up for global expansion and plans to reach 15-18 countries over the next two years.

Top10 List of Payment Gateways in India- 2023
Cashfree-Logo - India's leading ecommerce payment gateways

In November 2020, cash-free payments acquired a majority stake in UAE-based Payments Gateway Company. In the calendar year, 2022 cash-free will acquire 2-3 more startups. Its products are used in eight other countries, including the USA, CANADA & UAE.


My conclusion:-

E-commerce platforms in India have risen highly from 2017 onwards all over India and other advanced countries in the world.


In India, ecommerce payment gateways have become vital for the country. With the increase in demand for advanced technology and digital payments.


it is anticipated  that the online  payment gateway market  is expected  to grow near to 88Billion USD  by 2027.

Thank you.You Like my Articles.Please click on my website to read more articles:-https://odiyadigitalworld.com/

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I am Ajay Kumar Patra. ( M.com & MBA-Finance) with 27years of Accounts & Taxation Experience in Large Manufacturing Units in India. In 2021 I started my own tax consultancy firm called “Ajay Tax consultant”. I started my Digital marketing on my website "www.odiyadigitalworld.com".I have already published more than 100 Blogs on Business, Finance, startups, Digital marketing & Tours & Travel for my viewers.

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