You must be confused about choosing a suitable payment gateway for digital transactions if you have an online business. A payment gateway is an eCommerce tool that supports various payment options, such as credit cards, debit cards, net banking, etc. Customers of a specific site use these gateways to pay for their product purchases.
Before choosing a payment gateway, a business entity must consider several factors, such as the available payment options, processing fees, transaction speed, and more. It must also consider the facility to accept International payments if it sells its products and services abroad.
Some startup owners may not have much time to invest in researching a suitable payment gateway. So, we have curated some of the best options that one can rely upon. The payment gateways we discussed are performing well and are trusted by Millions.
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1. PayPal
This is one of the most used payment gateway sites that you will get for sending or receiving online payments. Most freelancing sites like Freelancer and Upwork use the site.
In addition, PayPal provides robust security options for its customers. The payment gateway has more than 300 million clients in 200 countries. You can use its merchant account to withdraw money in 56 different currencies.
2. Paytm
When we talk about online transactions, the first thing that comes to mind is Paytm. This is due to its excellent branding and features. The platform supports all payment methods, including debit/ credit cards, UPI, and wallets.
This brand’s Gateway is easy to use, and customers find it helpful. Moreover, as most users use the app, it becomes a relevant option for a business. The app lets you accept UPI payments at a 0% transaction cost.
3. CCAvenue
If you want to provide your customers with an easy-to-use and safe payment gateway, CCAvenue is the best choice. The CCAvenue payment gateway offers 200 payment options, including credit cards, net banking, and debit cards. The platform is popular throughout South Asia and has a vast client count.
In addition, you can offer EMI facilities from 14 banks using CCAvenue. The platform has a unique security facility named FRISK to ensure quick and safe transactions. Some top brands, like Air Asia and Lakme, use this gateway to accept online payments.
4. Amazon Pay
American E-Commerce brand Amazon has also recently introduced its payment gateway. The Gateway is easy to use and has a fast processing speed. Amazon Pay has implemented several layers of security to provide a smooth transaction facility to its customers.
As the payment gateway is in its introductory stage, it offers several discounts, making the deal more attractive to the purchaser. Many startups trust Amazon Pay for implementing online transactions, so you can also try it.
5. Instamojo
This is another popular payment gateway among online businesses. Instamojo supports over a hundred payment options and integrates easily with websites and mobile devices.
The NEFT and RTGS facilities are free of transaction costs from the Bank. Furthermore, Instamojo offers a recurring billing facility that allows clients to make monthly payments. The only drawback is that the platform does not accept several currencies.
6. PayU
PayU is a fantastic international payment gateway for your online business. The Netherlands-based fintech company operates in seven countries and is well known for providing convenient features. Clients have almost all payment options in PayU.
Some payment methods supported in PayU are wallets, cards, UPI, net banking, etc. The platform also supports EMI options from different banks. The user interface is straightforward for customers, making the payment process easy.
7. Atom
Although it is a newcomer to the payment gateways list, Atom is growing rapidly and has 150,000 clients worldwide. Atom has collaborated with more than ten banks and offers 256 payment options. Moreover, the checkout page has a fast loading time to speed up every transaction.
Each time a customer makes a transaction using Atom, they receive an invoice. Atom uses a high-security encryption mechanism to ensure safe payments. Users also get a multi-currency system for making payments in their preferred exchanges.
8. Razorpay
One of the oldest payment gateway platforms is Razorpay. The Gateway was introduced in 2014 and now has a user base of over 8 lakh. Razorpay is well known for its easy setup and speedy transactions. Transactions through this gateway are safe as they are end-to-end encrypted.
Razorpay also has a business banking unit facilitating recurring payments, invoice sharing, and loan granting. Customers can also easily use it to make their payments. For all these reasons, small, medium, and large-scale business firms rely upon Razorpay.
