Top payment gateways in India in 2022

What is a payment gateway and how does it work?

A payment gateway is an application that makes the entire process of online payment more streamlined and secure. It acts as a secure link between your website or application and the bank.

  1. The role of payment gateway begins when a customer wishes to purchase on your eCommerce store.

  2. Your website or application that you have integrated with the payment gateway sends the payment information (Debit/Credit card, UPI or Netbanking details) of the customer to the payment gateway.

  3. The payment gateway then verifies and confirms the payment details with the bank.

  4. Upon successful verification, the amount is released from the customer’s bank account and is transferred into your account.

Thus, the payment gateway acts as a medium that ensures simple and secure online money transactions.

What do you need to consider before setting up a payment gateway for your eCommerce store?

Before you finalize the best payment gateway in India for your eCommerce website or your online store, you need to consider a few important factors. They are,

  • Overall payment gateway cost including setup fee, annual fee, and Transaction Discount rate (TDR).

  • Settlement period (The time taken by the payment gateway to deposit the due amount to your bank account.)

  • User Interface of the payment gateway.

  • Mobile app compatibility.

  • CMS support.

  • Payment options such as Credit/Debit cards, Netbanking, Mobile wallets, UPI, EMI options, etc.

  • After-sale support and customer care.

Top payment gateways in India in 2022


CashFree is one of the top payment gateways in India that helps businesses to collect and distribute payments. It analyses the designation of your website or application and offers iframe, pop-up, smart analytics, and various other features. It also supports several eCommerce CMS systems and has ready to use integrations for Shopify India, WooCommerce India, and Magneto.

Settlement time:

24 hours – 48 hours.

Transaction fee per transaction:

  • 2% 1.90% for Google Pay, Digital wallets, Net banking, and selected Credit/Debit cards.

  • 0% for UPI and RuPay

  • 2.5% for Paylater and Cardless EMIs.

  • 3.5% + INR 7 for Visa and Mastercard international Credit/Debit cards.

  • Standard payment gateway charges for Paypal and Paytm Payment Gateway integration

  • 2.95% on Diners Club and American Express cards.

Payment options:

100+ payment options including digital wallets, UPI and various EMI options

Top brands that use Cashfree:

Zomato, Cred, Dunzo, MedLife, Delhivery, Zoomcar, Nykaa.

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Razorpay is one of the few payment gateways in India that offers businesses to accept, process, and disburse payments seamlessly with its product suite. It is specifically developed to suit the Indian users and it supports a completely online onboarding to make you quickly go live.

Settlement time:

3 days.

Transaction fee per transaction:

  • 2% for Indian consumer Credit/Debit cards, Net banking, UPI, and Mobile wallets.

  • 3% for Diners and Amex Cards, International Cards, EMI (Credit Card, Debit Card & Cardless) & Corporate (Business) Credit Cards.

  • 18% GST applicable on the transaction fees.

Payment options:

100+ payment options including PayLater and NEFT/RTGS payments.

Top brands that use Razorpay:

Facebook, Airtel, Swiggy, Zerodha, Curefit, Disney-Hotstar, 1mg.

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CCAvenue is one of the largest payment gateways in India that accepts payments in 27 foreign currencies including the Euro, American Dollar, Pound Sterling, and UAE Dirham. If you’re looking to serve customers in major global markets out of India, CCAvenue might just be the payment gateway you’re looking for.

Settlement time:

One week.

Transaction fee per transaction:

  • 2% for domestic Credit/Debit Cards, Digital Wallets, Netbanking, UPI.

  • 4.99% for international Debit/Credit Cards.

  • 3% for Corporate/Commercial Credit cards (Domestic).

  • 4% for American Express, Amex EMI and Diners Club Cards.

  • 4.99% for 27 Multi-currency options.

  • Annual Software charge of ₹ 1200 waived off for the first year

Payment options:

200+ payment options including EMI options.

Top brands that use CCAvenue:

Myntra, Lakme India, Airtel, Godaddy, Cleartrip, Starbucks, Bookmyshow.

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Unlike other top payment gateways in India, with Instamojo, you can create a merchant bank account even without a website. It is considered as one of the best payment gateways for the purchase of digital files, music, videos, etc as the payment process is quick and has bank-level security. It supports all major eCommerce CMS systems including Magneto and OpenCart.

Settlement time:

3 working days.

Transaction fee per transaction:

  • 2% + INR 3 for UPI, Domestic Debit/Credit cards, Net Banking, Wallets, Paylater. EMI options available for select banks.

  • 3% + INR 3 for International Cards and American Express Cards.

  • 18% GST applicable on the transaction fee.

Payment options:

100+ payment options including NEFT/RTGS/Bank transfer and EMI.

Top brands that use Instamojo:

UrbanClap, Dunzo, Alt news, Shriram Properties, Adani Realty.

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5. EBS

If you’re searching for top payment gateways in India that are authorized by safety and process obedience followed by ISO 27001-2013 Standard, EBS is the one for you. It also has an ‘auto retry’ feature for your customers that redirects them to an intermediary page to choose another payment option when the original payment option fails. This boosts your payment success rate.

Settlement time:

2-3 days

Transaction fee per transaction:

  • 2% for Domestic Credit/Debit cards and Net banking in the Starter Pack.

  • 3% for Amex, ezeClick, JCB, Diners, Wallets, Cash cards.

  • UPI payment option coming soon.

  • ₹ 1200 Annual Maintenance (AMC) waived off for the first year.

  • 0.3% additional TDR on EMI’s for all banks except Axis Bank, Kotak Bank, and HDFC Bank.

  • ₹ 7 per transaction would be charged on International cards transactions towards advanced fraud management services.

  • 18% GST applicable on the transaction fee.

Payment options:

100+ payment options including Wallets and EMI.

Top brands that use EBS:

Policybazaar, FirstCry, Kerala tourism, Sikkim tourism, J&K tourism development corporation.

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As a result of the ongoing digital disruption, eCommerce is growing rapidly in India and people are getting used to shopping online. So, if you’re looking for the best payment gateway for your eCommerce business, the above list of top payment gateway in India in 2022 can help you with it.


PayKun Payment Solutions has been developed in order to provide seamless business payment processing services to Indian business entities. It has been included among the top best payment gateways in India. It provides free integration assistance with a website or app for all major platforms or the merchant can collect payments with its payment links. It supports both domestic as well as international payments and provides Support through Calls, Emails, Live Chat, and Whatsapp.

Settlement time:

T + 1/2/3 Working Days (t is the transaction date)

Transaction fee per transaction:

  • 1.75 % for Indian Debit Cards, Net Bankings, UPI, and Wallets.

  • 2 % for Domestic Credit Card.

  • 3.00% for International Cards, Diners, and AMEX.

  • 2% for Paytm wallet.

  • GST applicable on the transaction fee.

Payment options:

120+ payment options including debit cards, credit cards, net banking, wallets, UPI, and QR code.

Top brands that use Paykun:

BuyOnlineClasses, Hostcano, Diet Clinic,, CreditKiya

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