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Online Payment Gateways In India
Payment Gateway Solutions in India offers a system to process credit cards, debit cards and bank transfer to merchant website. If you’re going to start your online business in India then you need a payment processing solution. International payment processors like alertpay, PayPal are not accepting payments in Indian rupees, so it is not beneficial for you if you’re going to target your service to local market. And even though India is among tech-savvy countries, we’ve very limited payment gateway solutions that are within reach of average internet merchant’s pocket. So I’ve compiled list of payment gateway services in India that are cost-effective for small-businesses in India.
Before you use this hub to evaluate payment processing solution for your business I suggest you to have a checklist of your requirements first as that will help you select a better payment gateway solution for your business. Also don’t forget to Google for the official site of every payment processor and look for the support page of that site, from there you can get the updated information about fees and other technical aspects of payment gateway service.
Payment Gateways Solutions in India
When you open their website, you’ll be asked for what type of payments you want to accept (US $ or INR). You can choose either and get the respective details. CCAvenue is one of the highly used payment gateway solution in India. It does offer services like 24x7 support and mobile payments.
- Setup Fee: 7500 INR
- Integration: Yes
- Transaction costs: 7% (Cards) 4% (net banking)
- Annual Maintenance fees (AMC): 1200 INR
EBS is an axis bank’s payment gateway solution. It also lists very less pricing information on its homepage. Like indiapay they’re also PCI compliant and support major bank transactions with banks like HDFC, ICICI and some other reputed banks in India.
- Support: Weekdays 10 to 5. Online Helpdesk. Email and Chat service
- Integration: Yes
- Setup fee: 6000INR
- Transaction cost: 6% (Card/Net Banking)
- Annual Maintenance fees (AMC): 2400 INR
Trillion Pay is expensive and is only suitable if you are a large business or industry in need of classy service. They also have quicker response and service attached to that price. Minimum setup fee is 30,000/-INR with annual maintenance cost of 4500/-INR. There isn't much information about card processing cost for specific cards, so you have to discuss that with representative and they may adjust the cost as per your needs.
They have varied setup fees depending on your monthly or daily processing quota. Initial price starts from 3000/- INR onwards with annual maintenance cost of 1500. Transaction cost of 5% applies to both credit card processing and overall transactions.
TPS charges you min. 30,000/INR for setup with yearly cost of 5000/-INR. They have low processing cost at about 5% per transaction and card processing.
PayU charges less compared to any other payment gateway solutions. They have startup fees of 6000/- INR and they charge 5% for almost any transactions. This is cheap if you take the overall cost in mind which includes 2500/-INR yearly maintenance cost.
IndiaPay is another PCI compliant payment gateway service. Here is short summary about indiapay.
- Setup Fee: Not listed Online/ Call or email for quote.
- Developer API: Yes
- Integration Guide: Yes
- Support: 9 am - 6 pm IST, Monday – Friday
There is very little information provided by Indiapay on their website. Many things like transaction costs (card/bank), annual fees are not listed on their website. So you’ve to find that out by calling the support or via email during weekdays.
This is a new startup, heard a lot of interesting reviews about them as a good payment gateway.
International Payment Processors & Shopping Cart Solutions
Some services like payloadz, ejunkie, 3DCart, 1Shoppingcart offer international payment processors and shopping cart solutions. They work with US $ so unless you're targetting indian currency and traffic you can also use them as cheap alternative. If you're on low budget or if you find some of the companies like EBS, Indiapay and CCAvenue charging more then using shopping cart services can be a cheap option for you.
Shopify offers intenational shopping solution with the wide range of the payment options. If you cater for the international clients from india then you should consider shopify for your business. This is perfect solution for the dropshipping, ebay and similar other typs of the shopping cart based business.
If you don’t wish to spend thousands of rupees per month for transactions then you can sell your products with the help of third party marketplace sites. Some third party marketplace you can use for your product shopping cart are:
Payloadz – For low fee of 5$ per month you can sell up to 10 products with payloadz. You can accept payments via paypal, credit card, google checkout.
Sign up at payloadz
E-Junkie – Like payloadz, e-junkie also hosts your files or products on their servers for 5$/month. You’ll get secure and affordable shopping cart with e-junkie service.
Sign up at E-junkie.
Gumroad - A good alternative to Ejunkie. Fees are moderate and reasonable. No fees for hosting the files and support for paypal and credit cards. Supported internationally.
Instamojo - Indian company. Offers payment processing via netbanking, cards, and other options. Fees are reasonable. A good alternative to Ejunkie.
For low budget individuals and small business owners service like payloadz or e-junkie is worth to use.
Other than above listed payment gateway services you can check the following services:-
- Technoprocess payment gateway solution ( techprocess.co.in)
- Atom Technologies (atomtech.in)
- Bill Desk (Billdesk.com)
- Upclick (upclick.com)
- Universal infocom (universalinfocom.co.in)
- HDFC Bank payment gateway service
- ICICI Payseal
- ABC Payment (Indiamart payment gateway service)
- one97 communication (Same company behind PayTM)
If you Google for these services then you’ll notice that very less information is available on their homepage. For some competitive reasons they’re not disclosing their fees and feature list on their homepage. This is the reason I’ve avoided to link to their service pages.
What to look for in payment gateway service?
Before you choose any of the payment processor, make sure you ask these questions to customer support of respective payment gateway service.
Site Integration: Some payment gateway solutions do allow you to integrate with open source shopping cart solutions. Ask them what shopping cart they support officially. Make sure they provide you with assistance to integrate their solution with your site. If not, then check how easy it is to integrate with your application/website.
Support: You’ll often come across some glitch in system or payment process in such case you’ve to see how good support is in order to maintain your business with them. Many times purchases are made on weekends, so do they support your business during weekends? Also how fast they provide the service?
Fees: Every online payment processor charges some fees for the setup of your merchant account with them and also charge for every transaction based on the payment method. You need to know these fees in order to fix the price of your service or products. Check if they allow monthly or yearly payment option. Don't forget to ask for all of these fees in detail.
Dispute: Many times you’ll come across bad customers or you’re having trouble with the services offered by payment gateway. In such case, how they resolve dispute is very important.
Policies: You need to check their policies for charge-back and refunds. If it is not listed on their website then it is better to ask their representative to e-mail/Fax the policy documents to you. Go through their policies before accepting their service else you’ll be in awkward situation just in case if any dispute occurs.
I would like to suggest that before choosing any of the payment gateway solution make sure you read the policies and go through checklist once again. As far as my observation is concerned, i’ll prefer CCAvenue or Directpay for their simple process of setting up payment processing. I hope I’ve mentioned about most of the payment solutions in India, in case if any missed feel free to comment.