Best Indian Payment Gateways of 2021

These are the top 5 payment gateways that businesses should adopt in 2021.

The trend of online shopping and preventive measures to keep body contact to a minimum in the pandemic has ushered in a deluge of online payment usage in India. According to RedSeer Consulting, online payments are expected to grow triple by Rs 7092 trillion by 2025 from Rs 2162 trillion in 2019-20. Companies operating in verticals like food, fashion, electronics, furniture, and medicines, etc. are increasingly moving towards expanding their online business which is proliferating the demand for online payment gateways. Here are the top 5 best payment gateways that can be used by businesses: 


According to RedSeer Consulting, online payments are expected to grow triple by Rs 7092 trillion by 2025 from Rs 2162 trillion in 2019-20.

Top 5 Payment Gateways Businesses Must Adopt


Founded in 2014, Razorpay enjoys a user base of 800k and has received unicorn status in October 2020 with a valuation of $1 billion. The USP of this payment gateway is its instant activation and easy integration that can be used by freelancers, small -medium-sized businesses, and large businesses as well. Razorpay’s dashboard provides users with information on real-time data transactions. Razorpay accepts payment through various channels such as credit/debit cards, net banking, UPI, and wallets. Businesses that have built their e-commerce websites on Shopify, Magento, and WooCommerce can select Razorpay as the payment gateway. Other advantages of Razorpay include placing a subscription model for recurring payments, sending payment links, payment pages, and avail working capital loans. Razorpay charges 2 percent on Indian debit/credit card, net-banking, UPI and 3% on Diners and Amex Cards, International cards, EMI. 


Used by 15000 businesses, Cashfree enjoys the popularity of being the most affordable payment gateway in India. The payment gateway supports credit/debit cards, net banking, and UPI and can accept international payment as well. The feature of ‘Cashgram’ generates a weblink where businesses can send it to their customers to collect payments with ease. There is no setup cost involved in implementing this payment gateway and can be easily configured. Cashfree favours working with government-registered businesses. For Net-banking, Credit and Debit card Cashfree charges 1.75% per transaction, for Pay Later and Cardless EMI it charges 2.5% per transaction. For International cards charges are 3.5% +Rs 7 per transaction. 


The advertisement jingle on TV ‘Paytm Karo’ has made Paytm synonymous with ‘Go wallet less.’ Paytm supports all domestic credit and debit cards connected to more than 50 banks. Its user-friendliness and ability to support more than 72 international currencies is its USP. It has a recurring billing facility for businesses based on a subscription model. Besides, it allows website payment and multiple currency processing. Paytm charges 0 % for transactions through UPI and charges 11.99 % + GST for transactions through Paytm wallet, Net banking, Paytm Payment bank, and credit card.


Instamojo is an Indian payment gateway that enjoys a loyal customer base of 1 million. Features like simple user interface, supporting more than 100 payment modes, integration mobile, and website, and zero charges for NEFT/RTGS or any other bank transfer make it a preferred payment gateway for businesses. It does not support multi-currency payment. Paytm charges 2% + Rs 3 per transaction happening through debit and credit cards.

Aurus Inc

Aurus Inc provides an array of digital payment solutions to business verticals belonging to QSR and fine dining, specialty Retail, Health and Beauty, Auto and C-store for easy collection of payments online. It receives a total of 6 billion payment interactions annually. Aurus Inc acts as a one-stop platform to handle all merchant transactions irrespective of the channel, sales process, or process. The payment gateway is PCI P2PE certified and ensures secured payments by adhering to stringent compliance. Its Out-of-the-box integration with cutting-edge devices, systems, and providers in the digital payment ecosystem gives merchants the flexibility to enjoy the benefits of in-class technology. 

What is in it for small businesses? 

India is in the midst of a digital revolution with increasing smartphones and falling data plans. Trends like online shopping and digital payments to minimise contact are the need of the hour in the pandemic that is fuelling the adoption of online payments by businesses. 

Payment gateways offer customers convenience and a seamless shopping experience. Apart from enhancing customer experience, small businesses can use payment gateways to save time and reduce excessive costs involved in physical transactions. 

Shalmoli Sarkar
Shalmoli Sarkar
An MBA in marketing and a BTech in chemical engineering, Shalmoli writes on marketing strategies and business technology for new and aspiring entrepreneurs.



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