The Best Payment Gateways You Need To Start Using

If you’re someone who loves online shopping then chances are that you might have stumbled upon Razorpay payment gateway. With its headquarters located in Bangalore, Razorpay is one of the leading and best payment gateways today. Razorpay basically looked at Stripe, and thought “Wow Stripe is so good, but it’s missing a few things, and we’re going to fix those” and well, that’s how you have Razorpay. They have an amazing UI and the onboarding process is quite hassle free, but they only work with the current accounts, you cannot operate with this company if you have a savings account or you just want to test out your business, then in that case Razorpay is “not the one for you”. They also have pretty competitive pricing, they have no set up fees and no annual maintenance along with top-notch documentation in the industry. 

They provide you with almost everything that you need in terms of payment options and the UI is absolutely dope, but we mentioned that already. Although it would be great if they could provide us with an App, that being the only drawback.

In this article, we have compared the best payment gateway alternatives to razorpay with their respective features and pricing options.

best payment gateway

With the rising number of new startups in the game, there are more new options to choose from. In this article, we have compiled a list of the best payment gateways that offer the best value for money.

Stripe:

Stripe is one of the most industry standard and best payment gateways loved by every single developer, reason being that they have openly stated on their website that they are “developer first” so we obviously love them a lot. In fact, handling everything into just an object is so simple and this was the first payment gateway that made everything so simplified. The below table gives a brief about this app:

FeaturesEncryption, Credit card processing, Mobile payments, Reporting & Analytics
Unique Selling pointMulticurrency payouts, Unified payout, Payout timing
Best Suited forCode-savvy, Developers, Small businesses 
ProsAmazing UI, Great Customer support, reasonable pricing. 
ConsOnboarding process is not as easy as it should be, Less account features, no ability to send invoices. 
Available IntegrationsAPI-based, Drupal, Magento, Shopware, WordPress, WooCommerce. Here’s the list of all supported integrations
Setup feePay-as-you-go, no setup fee.
Transaction feeIn India- 2%, outside of India- 3%, International- 4.3%
Countries supportedAvailable in 44 business countries: Available Countries: Find Stripe in Your Country
Supported Banks, cards, walletsDiscover, JCB, American Express etc.
Rating4/5

So overall, the documentation is great- best in the industry, the pricing is very competitive, payment options seem to be lagging a bit, the UI is amazing- it’s the gold standard of how the UI should be.The reporting is again top-notch , although the charts and graphs seem to be missing quite a bit, but we would still say it’s really great. 

PayPal:

PayPal is the oldest in the game and well-known in all the countries and it has been trying to get its hands and feet in India as well. It is another best payment gateway alternative to razorpay. It provides a faster, safer way to send money and make an online payment. You can also set up a merchant account. You can shop from anywhere, from any corner of the world.

The following table lists the specifications:

FeaturesManual entry payment, Instant payment, Split payments, Two-factor authentication
Unique Selling pointBarcode scanning, Credit card reader, Bill me later, Express checkout.
Best Suited forBusinesses, Merchants
ProsSimple UI, Availability across different platforms, Quick payments
ConsThe fee is comparatively high, poor customer care support.
Available IntegrationsSalesforce, REST API, Swift, Stripe
Setup feeThe setup is absolutely FREE
Transaction feeBase rate of 2.9% plus $0.30 per transaction
Countries supportedHere’s a list of countries: PayPal
Supported Banks, cards, walletsVisa, Discover, American Express, MasterCard
Rating3/5

The reporting and documentation is not the best, there are plenty of things that they still need to work on.  

Paytm:

Paytm is the Indian giant which is the victim of its own success. This payment gateway is amazing and has a lot of options to choose from which makes them as one of the best payment gateway. These days their onboarding process has gotten a little trickier, they have a huge number of client base that’s contributing for that reason. Pricing wise they’re very competitive and have a low fee.

paytm payment gateway
FeaturesPaytm wallet, Net banking, EMI options on card, Paytm postpaid
Unique Selling pointBank account via UPI, Checkout with saved cards.
Best Suited forStudents,Employees, Public
ProsInstant transfer, Clean UI, many integrations.
ConsPoor customer support, No financial assessment.
Available IntegrationsThe major plug-ins available: Paytm Ecommerce Plugins and Hosted Platforms
Setup feeZero setup and maintenance cost
Transaction fee2% transaction fees
Countries supportedAvailable in India only, as of now.
Supported Banks, cards, walletsCanadian bank account, Mastercard, American Express, 
Rating3.5/5

PayU:

This is another competitor of Razorpay. Again, their onboarding process can be a little tricky and can take up to a week to set up your account. Their pricing is almost the same as Razor pay with an additional 1% on MX. The documentation provided is top-notch- same as Stripe.

Payu payment gateway

For payment options they provide wallets and net banking and pretty much everything that you would expect. The UI is quite decent as well, reporting is something which is not up to the mark in the PayUmoney.The reporting could take a few years to improve especially in the charts and graphs area. Let’s take a look at its specifications:

FeaturesMulti-currency, Web checkout, Alternative payments
Unique Selling pointTokenization, Recurring payment, Express payment
Best Suited forSmall to medium businesses
Proscentralized integration, different payment strategies, multi-currency and security.
ConsSlow innovation in product
Available IntegrationsMagento, 3dcart, Shopify, Vin65, Sycle
Setup feeNo setup fee
Transaction fee2%+GST per transaction
Countries supportedHere is a list of supported countries: PayU Payment Gateway
Supported Banks, cards, walletsYou can find the link here: Free Payment Gateway – Best Payment Gateway in India
Rating3/5

Instamojo:

One of the best payment gateways that has been getting a lot of attention these days is Instamojo. Their onboarding process is quite simplified, all you need to do is enter your tax information and bank details and that’s pretty much it. You’ll probably be onboarded within a few hours or even less. Their pricing again is very competitive like Razorpay, but they charge an additional Rs. 3 per transaction. I think we can forgive them for that as their documentation is pretty good and even the UI is quite clean. Talking about their specifications:

Instamojo payment gateway
FeaturesSecured server, Invoices, Analytics
Unique Selling pointTransaction data management, Multiple payment platform.
Best Suited forSmall-businesses
ProsGood documentation, Clean UI, You just need a bank account to work with them.
ConsReporting can be improved if they add graphs and charts
Available IntegrationsYou can check here: Best Payment Gateway Integration in PHP, JAVA, Python, WordPress SDK & API, Web, Android/
Setup feeNo setup fees
Transaction feeFlat 2%+Rs.3 per transaction
Countries supportedOnly available in India
Supported Banks, cards, walletsMaestro, Freecharge, OLAMoneyMore options here: Instamojo payment gateway: Pricing, charges, and key points – Wise, formerly TransferWise
Rating4/5

Cashfree:

One of the new guys or fairly new competition in the market is Cashfree. This can be good for you if you’re running a small business. Their onboarding process is like a breeze, the pricing is absolutely competitive, and they provide you with a lot of payment options. Their documentation is quite confusing and can take up to a week to get the hang of it. The UI is pretty decent too and their reports are just okay. The following are its specifications:

FeaturesInternational Cards, Pre-authorization, Saved card vault, Dynamic routing.
Unique Selling pointT+2 settlement, Multi-currency support
Best Suited forStartups, Small businesses, Agencies, Enterprise
ProsMany payment options, Good UI.
ConsLimited customer support, Tricky documentation.
Available IntegrationsYou can check it out here: Seamless Pro
Setup feeZero setup fee.
Transaction fee2.95% per transaction
Countries supportedAvailable in India only
Supported Banks, cards, walletsMastercard ,VISA networks and International cards.
Rating4/5

CCAvenue:

CCAvenue is one of the best payment gateway industry. None of the gateways that we’ve talked about so far compare to this except for Stripe. They have a unique user base. The only drawback here is their onboarding process- they still work on the manual physical papers and you have to courier them the documents making it quite a task, even after that it can take months to onboard. Their pricing is very competitive and documentation is absolutely amazing because there are a lot of blogs and articles which describe the integration process in almost any tech stack. Talking about the payment options, they provide you with an insane amount of payment options. The UI is just alright and the reports are pretty dope. 

The table below gives its specifications:

FeaturesMaximum payment options, Multiple currency processing, Mobile payments
Unique Selling pointSmart dynamic routing, iFrame Integration.
Best Suited forLarge scale businesses 
ProsSupports multiple currencies, Has support for the largest number of banks, Supports EMI as payment from over 7 banks.
ConsTerrible customer support, 
Available IntegrationsiFrame, you can refer this documentation for more details: CCAvenue Integration Document
Setup feeZero setup fee
Transaction fee3% transaction fee
Countries supportedIndia, KSA, USA, UAE
Supported Banks, cards, walletsYou can view here: CCAvenue®: Widest Range of Payment Options
Rating4/5

Now, of course these aren’t the only payment gateways, there are a lot of options out there you can choose from. If you’re using any other payment gateways do let us know in the comments section below.

Also, if you get the chance to interact with any payment gateway or integrating or coding, go ahead and take that chance. It’s absolutely worth it. It sets you apart from a regular developer who is just designing websites, payment gateways are the most tricky and top-notch experience that you can get, so we absolutely encourage you to try it out.

 payment gateway

We had to end it with a meme. #SorryNotSorry

The Best Payment Gateways You Need To Start Using 1
Ayushi Thakur
When you love what you do it will be seen in your work. Writer. Generally curious. Will probably make you curious too.

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