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Top 10 payment gateways in India-2024




In this article, we describe the top 10 payment gateways in India for e-commerce business in 2024. The payment gateway is a network through which your customer transfers funds to you. A digital payment gateway is a service that is used to make and receive& payments on the online platform. 


This payment technology is the fastest & and simplest way to collect payments digitally. On November 20, 2010, NPCI launched immediate payment Services (IMPS) to offer an instant 24x7 interbank electronic fund transfer service through mobile phones.


The first online payment system was introduced by RBI in the year, 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 a 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 the leading e-commerce payment gateway in India. Pay Pal Holdings is an American multinational financial technology company operating an online payments system in the majority of countries. It supports online money transfers. It serves as an electronic alternative to traditional paper methods (i.e.) checks and money orders.

Best payment gateway-Pay pal


It was established in 1998. Its headquarters is in San Jose, California in the US. It was established in 1998, as Confinity. PayPal went to the public through an IPO in 2002. The company was ranked 143rd on the 2022 Fortune 500 of the largest United States corporations by revenue.


In March 2000, Confinity merged with, an online financial services company founded in March 1999 by Elon Musk, Harris Fricker, and Christopher Payne.x.Com renamed Paypal in 2001.


By 2010 PayPal had over 100 million active user accounts in 190 markets through 25 different countries. Paypal services allow people to make 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. Now PayPal provides digital payment solutions for merchants and customers in India. 


As of 2020 PayPal supports the domestic card system Ru Pay and planning to further integrate UPI in collaboration with the National Payments Corporations of India (NPC).


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


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. Pay U 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.

Best payment gateway -Pay U


Naspers Group owns pay U.Its founders Jose Velez, Martin Schirimpff, Arjan Bakker, Niten Gupta and Shailaz Nag in 2002. Pay U 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 for processing debit and credit card transactions. It is safe with Pay, U.Pay U provides us with time payment settlements time was faster than others.


3. Pay tm:


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


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 as a pre-paid mobile and DTH recharge platform and later added data card, 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. Alibaba Group affiliate took a 40% stake in PayTM as part of a strategic agreement. Soon after Ratan TATA, the MD of Tata Sons entered into Pay tm 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 was 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.I   n February 2017 Paytm launched its Pay to Mall app, which allows consumers to shop from 1.4 Lakh registered sellers.


 Pay tm Mall is a B2C model inspired by China‘s largest B2C retail platform. Paytm Mall raises $200 Million from Alibaba Group.Pa y tm charges loading money into a 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. Pay tPayTMininm is the best payment gateway of India.


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 card and mobile payments.CC Avenue is the leading e-commerce gateway in India.CC Avenue is the best payment gateway   Indiin a.



Infibeam Avenues Limited is an Indian multinational financial technology company that provides payment 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.


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 Avenue is the top 3 online payment gateway platform 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 charges only 2% of all transactions from 1st May 2020.


5. Rozar Pay:-


Rozar Pay is the leading e-commerce gateway in India. Rozar Pay is an India-based, fintech company that provides payment gateway services to vendors, merchants and e-commerce platforms.PayIt is an online system that is designed to handle end-to-end payments that can also, be integrated with websites and apps.



This 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 a payment gateway for startups that can easily integrate this system on their websites.


In 2021, Rozarpay and Master's Card joined hands to provide digital payments to MSMEs. Both companies made a strategic partnership in which Mastercard’s digital banking solutions were combined with Rozerpay’s payment capabilities. Roze in  is the best payment gateway of India


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. 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 of 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 e-commerce businesses successfully.



Instamojo is the leading e-commerce payment gateway in India. 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.


Instamojo was selected in 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 that has removed barriers of entry like technical know-how, and upfront costs, and provides access to distribution channels on the web & mobile through various up-selling 7 cross-selling e-commerce tools & features.


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


7. UPI Payments


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

Best Payment Gateways-UPI


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


The app which includes UPI features is as-Phone pe, Paytm, Bhim app, Mobikwik, Google Pay, Uber, and Paytm payment Bank.


BHIM was developed by the National Payment Corporation of India(NPCI)a not-for-profit company for providing retail payment stems in the country under the guidance of the Reserve Bank of India ( RBI).


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 e-commerce payment gateway in India. The company provides an online payment platform for its clients which enables website transactions. Pay U acquired the Bill desk in the year 2021. 



Bill Desk refers to the website through which individuals are offering this service through the Internet. Pay U is a Netherland-based company owned by Proses, which has been acquired by Billdesk in one of the biggest deals.


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. This is one of the best payment gateways of India.



In 2013, the Reserve Bank of India authorised 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.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 recharge 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 e-commerce platform for e-commerce gateways in India.


10. Cash free Payments:


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

Best Payment Gate


Cash Free 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, wage 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 plan to reach 15-18 countries over the next two years. 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 USA, CANADA & UAE.


My conclusion:


Payment Gateway service automates the payment transaction between the shopper(buyer) and the merchant(seller). It is generally a third-party service that is a system of computer processes (that process, verify and accept or decline credit card transactions) on behalf of the merchant through secure Internet connections. 


The payment gateway infracture allows a merchant(seller) to accept credit, debit card and other forms of electronic payments.  E-commerce platforms in India have risen highly since 2017 onwards all over India and other advanced countries in the world.


In India, the e-commerce payment gateways have become vital for the country. With the increase in demand for advanced technology, digital payments. it is anticipated that the online payment gateways market is expected to grow nearly to 88 billion USD by 2027.




About Author

Ajay Kumar Patra is a highly experienced and accomplished accounts and taxation professional with over 27 years of experience in the industry. He is a Post graduate in Commerce (M. Com) from Sambalpur University with First Class and MBA-Finance with First Class from Jaipur National University....
He has worked with several large manufacturing units in India in various capacities. His last portfolio was (G.M) Finance & Accounts in large Steel Manufacturing Industry in Odisha. He Quit his job in the year May-2021.

Professional Content Writer: -
He is also a professional content writer and has published over 150 articles on business, finance, startups, e-commerce, and tourism. In 2021.All article you can see in the website
Content Writer
In addition to his professional work, Ajay is also a passionate content writer. He has published over 150 articles on business, finance, startups, e-commerce, and tourism. His articles are well-researched and informative, and they have been read by millions of people around the world. Ajay is also a regular contributor to several leading publications. He always published his own article in his website
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He is also Founder & CEO of own Tax consultancy firm, “Ajay Tax Consultant:, in Bhubaneswar, Odisha. Which has been started in the year 2021 with give best services to individuals and Business owner like Income Tax, GST. PAN, DSC, TDS with New company Registration with Insurance facilities to clients of PAN INDIA. You can visit website”” to know more.

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Ajay Kumar Patra is a highly experienced and accomplished accounts and taxation professional with over 27 years of experience in the industry.