Rise My Venture team got so many mails from entrepreneurs and students regarding the top ecommerce payment gateway in India. We are ready with the solution.
Last month, I was working on a new project. The work involved implementation of a payment gateway. So, before implementation, the obvious task was to find out which are the best payment gateways in India. I did some research on this subject. And here are a few answers and pointers. The first thing you need to understand in this regard is that there is nothing like the top payment gateways. All the options available out there in the market have their own advantages and disadvantages. So, the term top payment gateway applies with respect to your particular requirements. Now let’s dig deeper!
In simple terms, payment gateway is a service that authorizes the credit card or other forms of electronic payments like online banking, debit cards, cash cards etc. Such a facility is not only important for huge and well established businesses —but also these are useful for home based online entrepreneurs. Payment gateway acts as a middleman between the bank and the merchant’s website or mobile application. When a user wishes to make a payment, the merchant website sends the encrypted credit card information to the payment gateway. Then the payment gateway confirms the validity of these details with the bank and the required amount of money gets transferred from user’s account to the merchant’s account.
Here is the list of Top 22 eCommerce Payment Gateway in India :
A worldwide leader in payment services, 2Checkout maximizes online sales conversions by giving global buyers localized payment options. Trusted by over 50,000 merchants, 2Checkout supports transactions in 196 countries through 8 payment methods, 26 currencies, and 15 languages, forming one of the leading processors of online transactions in the world. The service is simple to implement, including a pre-integrated payment gateway, a merchant account, PCI compliance, international fraud prevention, and plug-ins for 100 of the most popular carts. Signup Now
Airpay provides a dynamic payment gateway, enabling businesses to accept credit / debit card transactions across website, wapsite and mobile applications hassle-free. Airpay PCIDSS Compliant IVR Payment Gateway Solution supports Agent Assisted as well as automated implementation models. These can be seamlessly integrated with your existing ERP / CRM System to support information exchange on a real-time basis. The platform can be deployed under a managed or a hosted services model. Airpay Net Banking solution allows you to accept payments from one of the most preferred option of the consumers. The rich and personalized user experience, complemented by comprehensive features allows merchants to deliver a consistent user experience and connectivity across multiple banks. Airpay Enable your Stores & FOS (Feet on Street) team to collect card payments from the end customer. Our Mobile POS solution adheres to the EMV (Pin & Chip) guidelines advocated by Visa / Master card as well as with the PCIDSS Security Standards. Signup Now
BitPay was founded in 2011, while Bitcoin was still in its infancy. We saw the potential for bitcoin to revolutionize the financial industry, making payments faster, more secure, and less expensive on a global scale. We started BitPay with the intention of making it easy for businesses to accept bitcoin payments, and we are currently the largest bitcoin payment processor in the world, serving more than 60,000 merchants on six continents. Payment processing was our first contribution to the Bitcoin ecosystem, but it is not our last. We’re building open source software to power the next applications of Bitcoin. Bitcoin’s future looks very bright, and we plan on remaining on the forefront of this technology, creating more tools and services for everyone to use in innovative new ways. Signup Now
4. Citrus Pay
Citrus Pay consists of people with the passion and experience to change the world of consumer payments in India. Citrus aim to create a company that puts the consumer and their needs in the centre of everything we do. Citrus collective backgrounds are from the worlds of technology, user experience, payments, and banking. Citrus have worked across the world in companies like Apple, First Data, ICICI Bank, Cisco, and Yahoo. Signup Now
Founded in June of 2012, Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin. Coinbase based in San Francisco, California. Bitcoin is the world’s most widely used alternative currency with a total market cap of approximately $3.5 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world. Signup Now
E-xact has been providing of fast, secure, and accountable online transaction solutions since 1998, at the forefront of the online exchange world with solid and secure transaction processing systems and superb customer service. E-xact give everyone a way to get into the e-commerce marketplace; software and website developers, merchants, and financial institutions all have something to gain by using E-xact. Signup Now
Ideally, when a customer asks if you accept a certain form of payment, the answer should always be yes. GoCoin is the first checkout solution designed to accommodate bitcoin and other popular altcoins like litecoin and dogecoin. We give your customers the convenience of choice, and in turn, you can choose to keep the coins or instantly exchange them to your preferred currency. Signup Now
8. MasterCard Internet Gateway Service (MiGS)
The MasterCard Payment Gateway isn’t only a tool for your customers, it can also help you improve your bottom line. It can help to grow profits by optimizing working capital (reducing Day Sales Outstanding), reducing chargeback and fraud risk, and operational costs associated with paper check processing. The MasterCard Payment Gateway processes payments automatically. No more manual, paper-based processing. And reconciliations are much faster with the enhanced remittance data provided by the Gateway. When you enroll, you’ll be included in a B-to-B Supplier Directory that puts you right at the fingertips of new and current customers. The directory is super easy for them to use. Fortunately, we’ve made enrolling just as easy for you. Signup Now
Since 1998, NETbilling, Inc. has provided merchant accounts, multi currency transaction processing, and call center services to thousands of internet merchants and companies of all sizes. NETbilling’s flexible solutions process credit cards, debit cards, electronic checks, and telephone orders, and work with any business model, including internet, broadband, wireless, call centers and retail establishments of all types. NETbilling wide range of services include advanced reporting tools, membership site management, fraud scrubbing, a free shopping cart, and 24/7 live service for merchants and their customers. NETbilling facilitates merchants every step of the way from merchant account acquisition to final implementation, training, and deployment. Our goal is to provide the absolute best transaction processing and call center services that can serve our client’s needs for many years to come. We are constantly upgrading our systems behind the scenes, developing enhancements at our clients’ requests, and launching new programs designed to make their businesses as successful and profitable as possible. Signup Now
10. PacNet Raven
PacNet Services was founded in 1994 by a team of international banking experts in Vancouver, Canada. The company received instant recognition as the world’s leading provider of international payment processing services to the direct response industry. For over 19 years, PacNet Services has served the international payment processing needs of not only large blue-chip companies, but small and medium sized businesses as well. Today, PacNet Services Ltd. is recognized as a leading payment processing services provider amongst organizations that use direct mail, e-commerce, telephone, print ads, or DRTV to sell goods and services or to solicit charitable contributions from donors around the world. In addition to providing a complete range of payment processing services, PacNet publishes the World Payments Guide, a 725 page country-by-country guide to currencies, banking and consumer payment preferences around the world. The World Payments Guide is available in hard copy and online. Contact PacNet for a risk-free consultation today. We are committed to making international payment processing a convenient and cost-effective part of your operations. Signup Now
Founded in 2000, AsiaPay Limited, a leading world-class ePayment and mPayment solution and technology vendor as well as merchant acquiring service player in Asia, strives to bring advanced, secure and cost-effective electronic payment processing solutions and technologies to banks, corporate, SMEs, charities and others in global market, providing integrated payment processing for comprehensive range of international credit cards and popular debit cards in Asia and China. AsiaPay serves as accredited TPP processor for banks, certified IPSP for merchants, certified international 3-D Secure vendor for Visa, MasterCard and JCB, and advanced payment gateway solution vendor for banks. With its differentiated multi-currency, multi-lingual, multi-card and multi-channel processing platform with advanced fraud detection and monitoring capabilities – “PayDollar” and unparalleled quality account service, AsiaPay is pleased to be of service to close to 10 banks and thousands of merchants throughout Asia. Signup Now
12. PayPal Express Checkout
At PayPal (Nasdaq: PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, last year we processed 4 billion payments, of which 1 billion were made on mobile devices. PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid. With our 169 million active customer accounts, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. Signup Now
14. PayU Money
PayU India is the flagship company of Naspers group which is a $25 Billion internet and media conglomerate listed on London and Johannesburg stock exchanges respectively. PayU provides state-of-the-art payment gateway solutions to online businesses through its cutting-edge and award winning technology. Signup Now
15. CC Avenue
Avenues India provides best-in-class online payment processing solutions to thousands of web merchants across all the major business verticals. Its wide network also includes the leading financial institutions and hundreds of resellers. Avenues Commercial Services powers these solutions through proven technology and relentless ingenuity in application. CCAvenue is South Asia’s largest payment gateway solution powering 85% of eMerchants in India with real time, multi-currency, multiple payment options online payment processing services. CCAvenue is the only complete PG solution in the region that has the unique ability to offer the full spectrum of Internet payment options. Signup Now
DirecPay is among the largest payment gateway solutions service providers in India. We are a revolutionary bank-neutral payment processor for online merchants in India. Our services offer merchants cost effective solutions, various payment acceptance modes and a secure, robust technology platform. DirecPay acts as a one-stop payment gateway solution for merchants who conduct online transactions or e-commerce. We enable you to go beyond accepting payments through cash, cheques and demand drafts with ease. You can accept online payments through various pay modes including Credit Card, Debit Card, Internet Banking and Mobile Payments. DirecPay is a secure, merchant-centric payment gateway service. This means that we help you receive payments in a secure environment, from a bouquet of payment service offerings. So whether you sell products online, provide services with online payment collection or want to collect payments for utility bills, we empower you to receive payments from all your customers. Our alliance with some of the leading and respected names in the financial industry also reinforces this as a compelling and lucrative option for online merchants. Signup Now
Paytm is an Indian e-commerce shopping website launched in 2010, owned by One97 Communications which initially focused on Mobile and DTH Recharging. The company is headquartered in Noida, India. It gradually provided recharging and bill payment of various portals including electricity bills, gas bills, as well as telephone bills. Paytm entered India’s e-commerce market in 2014, providing facilities and products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it added booking bus travel. Paytm was founded and incubated by One97 communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for “Pay Through Mobile”. Today,it is India’s most popular online destination for prepaid mobile and DTH recharges and shopping, and its Android and iOS apps have been ranked among the most popular apps. In three years since the founding, the company created a user base of 25 million wallet users and 10 million app downloads. Signup Now
Zaakpay is a payments company based in New Delhi & Bangalore. Our aim is to solve the payment pain points for eCommerce in India. Our first product Webpay, a credit & debit card processing product has just released. In terms of product, we are still at the foundation level and our aspiration is to build a skyscraper. So there is a lot of new product that needs to be built bottoms up. Zaakpay team comes with significant background in payments and technology having worked with companies like PayPal, HSBC, Intel, Nvidia, Freescale, Intuit, Persistent and startups like MobiKwik, SmsGupShup. Signup Now
Instamojo Inc. is a web-based Indian startup founded in 2012 by Aditya Sengupta, Akash Gehani, Harshad Sharma and Sampad Swain. It is based out of Mountain View, California and Mumbai, India. It primarily provides customers a platform to sell digital goods like ebooks, reports, comic books, music, software, templates, photos, tutorials etc. by listing the item on the website and sharing the web link with others. As per reports the company has over 4,300 sellers. Swain, co-founder at the startup said he got the idea for Instamojo when he started a newsletter containing video interviews of entrepreneurs. The company was selected in the fifth batch of 500 Startups in October 2012 and has received funding from angel investors like Rajan Anandan and Sunil Kalra. Instamojo pays the seller 95 percent of every successful transaction for digital goods and 98 percent of every successful transaction for physical goods and products not hosted on their servers. Previously been backed by angel investors such as Rajan Anandan, Sunil Kalra, and Dave McClure, Instamojo secured $500,000 in 3 rounds from 8 investors of which the most recent one was the Series A funding on November 13, 2014. The amount of which however remained undisclosed. Signup Now
20. Atom Technologies
Atom Technologies is an Indian company offering payment processing technology, headquartered in Mumbai, India. atom was started in 2006 and is a subsidiary of the Financial Technologies Group. The company has historically focused upon the distribution of payment and banking services through the use of mobile technology. atom technologies has created patent pending products & services for mobile payments, Interactive Voice Response (IVR) based payments and mobile based service distribution framework. Atom technologies also helps microfinance institutions to expand their business through the use of effective Information Technology systems. Signup Now
21. EBS Payment Gateway
E-Billing Solutions (EBS) established in the year 2005 is headquartered in Mumbai. It facilitates online purchases from a merchant’s website and helps them to collect payment from the end customers through net banking, credit and debit cards etc. It is an intermediary that assembles the online payment options offered by various banks, cash card brands and many other payment processors onto a single platform with minimum technical integration with merchant website. EBS, is the first Indian merchant account provider to achieve the PCI DSS 3.0 standards of compliance. It is also certified by security and process adherence followed and audited by ISO 27001- 2013 standard. This achievement makes EBS one of the most secured online service providers in the world. EBS, now is a fully owned subsidiary of Ingenico Group. With its acquisition by Ingenico, a global leader in seamless payment, EBS has now access to world class product and solutions to augment its existing services. Signup Now
This article has been well researched by Rise My Venture team.