You finally have a product you are proud of and want to sell it online. You set up your website and start online marketing. You are ready for a customer to order from your website, but now the only question on your mind is, which payment gateway to choose? Should you use UPI or credit cards and debit cards for your transaction? Are there any other payment modes I am unaware of?
This blog post will help you learn about different online payment gateways as well as digital wallets and transactions in different foreign currencies. Making the economic side of your business easy and increasing your international visibility.
Until a couple of years back, setting up a payment gateway as a mammoth task. It used to involve a lot of documentation, verification, huge setup feeds and technical know-how to make it work. But now, it has become very easy to set up a payment gateway for selling your products in India.
When we started ProfitBooks, we evaluated a lot of payment gateway providers and finally settled for 2 of them. We are sharing what we had learnt during the past few years.
5 Things to consider before setting up a payment gateway
Payment gateway cost (Setup fee, TDR, Annual free, etc)
Time to setup everything
User Interface of the gateway
Payment options (Credit/Debit Cards, Netbanking, Mobile Wallets, UPI, etc)
Aftersale Support
From the growing list of payment gateways in India, I’ve carefully picked 6 best Payment Gateways suitable for small businesses. I have compared these gateways based on the above parameters.
1) Razorpay
Headquartered in Bengaluru, Razorpay can be dubbed as Stripe of India. We are following the progress of Razorpay for the past few years and they’ve been really impressive.
In just a couple of years, Razorpay has launched truly innovative products such as UPI auto pay, Payment links, Subscriptions, Smart Collect (using UPI, BharatQR, ePOS, NEFT, etc) and Payment Pages.
We believe they are the first company in India to launch a subscription product.
At ProfitBooks, we use Razorpay to collect domestic as well as international payments. We’ve started using it to create ‘payment pages’ for offering deals on accounting software. It’s super fast and easy.
We also use Stripe for collecting international payments and we feel the same level of confidence while using Razorpay. It’s packed with features.
Razorpay also has a very modern-looking interface, giving your businesses a very undated and modern look.
Setup Fee : Zero
Annual Maintenance Fee: Zero
Transaction Fee: From 2% to 3% depending on the payment mode
Brief Review Of Razorpay:
Best part of using Razorpay is their super simple interface. It’s very easy to set up everything. Another great feature is ‘subscriptions–It lets you accept payments on a monthly, quarterly or annual basis. I really liked their email notifications. Razorpay sends emails to our subscribers reminding them about the upcoming payments or failed transactions. These emails are customisable.
Razorpay’s checkout page opens in a pop-up and provides a lot of options to pay. I had to once interact with their support and the experience was good – no issues with that.
Top clients of Razorpay:
Spicejet, 1mg, Bookmyshow, Swiggy, Grofers, Zomato, Airtel, Zerodha
2) CCAvenue
Launched in the year 2001, CCAvenue is one of the oldest payment gateways in India. It has recently overhauled the UI of their website and merchant dashboard. When we were talking with them for integration with our online invoicing software in 2014, they had the slowest onboarding period (15-20days). Nowadays, they are claiming to complete the activation in 24hrs.
CCAvenue supports almost every bank and payment option, included in (UPI, indian and international credit cards) out there. It’s reliable and used by high volume eCommerce websites like Snapdeal. We would strongly recommend this payment gateway to startups if they wave off the annual maintenance charges completely.
Go for CCAvenue if you are looking for a reliable payment gateway in India that is tried and tested.
Setup Fee : Zero for Startup Pro Plan, Rs. 30,000 for Privilege Plan
Annual Maintenance Fee: Rs, 1200
Transaction Fee: From 2% to 4%
3) CashFree
Cashfree is a next-generation payment gateway that helps Indian businesses both collect and disburse payments via almost 100 payment methods including Visa, MasterCard, Rupay, UPI, IMPS, NEFT, PayTM & other wallets, Pay Later and various EMI options.
According to them, over 3000+ businesses have processed more than Rs 2500 Crores of payments using Cashfree offerings. Cashfree is backed by Silicon Valley investor Y Combinator and was incubated by Paypal.
They offer really unique features such as:
- Plug-n-Play international payments by connecting Paypal account
- PayTM account linking to offer PayTM was a wallet option
- Payout APIs to send money to any bank account, UPI ID, PayTM wallet instantly
- Collections by NEFT-IMPS
- Marketplace vendor settlement
- ‘Pay Later’ options like ePayLater, Lazypay, OLA Credit, and Cardless EMI options like Zestmoney and Flexmoney
We have integrated Cashfree with ProfitBooks so that our customers can send invoices with a payment link.
Setup Fee : Zero
Annual Maintenance Fee: Zero
Transaction Fee: From 1.95% to 2.95%, 2.5% for cardless EMI
Brief Review Of CashFree:
Our personal experience with CashFree has been really good. Their rates are low and technical support is very responsive. I like the fact that CashFree folks are continuously evolving the product.
Top clients of CashFree:
Dunzo, Wedmegood, Xiomi, Eventshigh, ClubFactory, HappyEasyGo, Milaap, Ketto
4) PayUbiz and PayUMoney
The payment gateway solution provider, PayU India, rebranded both its products PayU Enterprise and PayUmoney to establish them as clear independent businesses in May 2015. Now, PayUbiz focuses on enterprises and is used by large enterprises such as Snapdeal whereas PayUmoney is the consumer brand of PayU India and has a wallet solution for consumers and payment acceptance solution for SMB businesses.
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. In India, they claim to serve more than 4000 merchants.
Setup Fee : For PayUBiz, plans starts from Rs. 4900 and go upto Rs. 29000. For PayUMoney, its Zero.
Annual Maintenance Fee: For PayUBiz, its Rs. 2400. For PayUMoney, its Zero.
Transaction Fee: For PayUBiz, its between 2.20% to 3.90% based on the plan. For PayUMoney, its 2%.
Brief Review Of PayUMoney:
We evaluated PayUMoney for accepting payments in ProfitBooks and were really happy with the overall experience. Signing up is very easy and you can upload the documents directly on their site for verification. We specifically liked the option to create ‘Pay with PayUmoney’ button. Its easy to create invoices and send payment links to your customers. We also found the support to be responsive.
As wallet service is integrated with the payment gateway, it adds extra value to the overall proposition. We are not using it now but would highly recommend this payment gateway for a startup.
Top clients of PayUMoney & PayUbiz:
Jabong, BookMyShow, Freecharge, Zomato, Goibibo, Olx, Ola, ShopClues, Pepperfry
5) EBS
EBS is owned by France-based Ingenico Group, which is a global leader in payment processing services. You will find mixed reviews for this payment gateway. Some of the ProfitBooks customers are happily using it since past 4-5 years but some reviews are really very negative. All we can say is that EBS has been around for a while and considered as a reliable payment gateway.
EBS has recently lowered their charges due to competition and can be opted by small and medium sized businesses.
Setup Fee : From Rs.4799 to Rs. 23999 based on the plan
Annual Maintenance Fee: Rs.2400
Transaction Fee: From 1.25% to 3.75% based on the plan
Brief Review Of EBS:
EBS offers multi-currency processing and has significantly lowered the onboarding time for new users. It offers a decent UI and a good amount of payment processing options. However, I feel that the features like ‘Auto Pay’ are a double-edged sword and some merchants may not like it.
Top clients of EBS:
BabyOye, Snapdeal, FirstCry
6) Instamojo
This one is our favourite. Started in 2012, Instamojo initially offered a way to collect payments for digital goods. But now thousands of users are using it to collect payments for ebooks, reports, tickets, tutorials, merchandise, invoices, services, and much more.
Instamojo is super easy to set up. They have recently introduced instant onboarding. Now, you don’t require any documentation to begin a trial account with Instamojo, simply answer a few questions and get started in minutes. For a full account, the bank statement and PAN card remain the only requirements. You can create a payment link or button, a page where you can list your products or services or directly request a payment.
Create your free account with Instamojo.
Setup Fee : Zero
Annual Maintenance Fee: Zero
Transaction Fee: 2% + Rs.3
Brief Review Of Instamojo:
We use Instamojo as an alternate payment gateway for ProfitBooks and are extremely happy with it. Support is very responsive and helpful. They keep releasing new features every now and then. With frictionless onboarding, low transaction rate and intuitive user interface, I would strongly recommend Instamojo as the best payment gateway for small businesses.
Top clients of Instamojo:
Snapdeal’s app Shopo, Online Prasad, UrbanClap, YourStory, Next Big What and others.
We would also like to make a brief mention of CitrusPay here. We are using Citrus at ProfitBooks to collect online payments for past 3 years. Our personal experience with Citrus support has not been very good as we found it non-responsive. Apart from that, we did not face any issue with the payment gateway.
Top clients of Citrus Pay include ProfitBooks, Emirates, Etihad, Airtel, Meru, Zivame, Esselworld, Kaya, PVR Cinemas and Healthkart.
Citrus has been acquired by PayU in Sep 2016. It will be interesting to see how this merger shapes up and what it means to the existing customers.
Other Payment Gateways to consider
DirecPay is owned by Times Group,and has been around since past few years. It has not evolved with changing times and still offers limited payment options as compared to other payment gateways. It asks for a lot of unnecessary documents and still takes more than a week to activate. We found it tough to contact them when we required their assistance.
Razorpay is also a good option if you want to accept payments online. It comes with a lot of features. Recently, they have started supporting subscriptions and recurring payments in India.
EaseBuzz is recommended if you want to go live quickly. It processes your application within 24 hours.Help you get payments ASAP.
Atom payment gateway is the last one on this list. It started offering services in 2006 and claims to have 1500+ merchants onboard. They also offer point of sale (POS), IVR and wallet options.
HDFC Payment Gateway and ICICI Payment Gateway both HDFC bank’s and ICIC banks’s payment gateways respectively .Though backed by reputed banks, they are very expensive and difficult to set up as compared to the options mentioned above. These can be useful only when you have a very high volume of business transactions.
Top 3 Mobile Wallets in India
In 2015, we saw the rise of ‘payment wallets’. Suddenly, a lot of wallet services popped up and started offering huge discounts to acquire new customers. Some of these popular wallets also offer payment gateway services to the merchants. These wallets can be integrated as an add-on along with the above-mentioned payment gateways.
PayTM
What started as a mobile & DTH recharge service is now a $4 billion company. You can start accepting payments from PayTM users using their Pay With PayTM service. You can integrate this payment gateway in your website. Unlike other traditional payment gateways, it will allow payments only from PayTM wallet.
This service is used by Uber, Bookmyshow, Domino’s Pizza, Food Panda and many big companies.
MobiKwik
Similar to PayTM, merchants can accept money using MobiKwik wallet. As on 2015, there are over 25 million users that have MobiKwik account and 650+ merchants who are using its payment gateway service.
Its used by online portals like TicketGoose, YepMe, ShopClues and Snapdeal.
Oxigen Wallet
Oxigen Wallet is India’s first RBI approved non-bank wallet to be integrated with NPCI allowing instant money transfer from the Wallet to 60+ banks and vice versa using the Immediate Payment Service (IMPS).
Operating since 2004, Oxigen services already has over 1,30,000 retail touch points with over 40 million monthly transactions. You can use the Oxigen Checkout Services by registering as a merchant partner.
Collecting International payments
There are many companies in India – prominently tech startups that serve international clients. I would categorise these companies into 3 broad categories:
- Companies that raise one-time bill. For example, tech firms offering software development services.
- Companies raising recurring invoices. For example, tech startups working on SaaS model.
- Companies selling goods to international customers from e-commerce platform.
For collecting one-time payment, I would strongly suggest using Payoneer. It supports the largest number of currencies. We use it to collect payments from counties like Pakistan or Bangladesh where no other payment gateway works. Payoneer has some unique features and offers the lowest rates.
For recurring payments and e-commerce, Paypal is the best payment gateway. Their transaction fee is the highest but it’s the most reliable payment gateway to collect international payments. Being an international payment platform PayPal except for the majority of international cards, and the Good news is, Paypal has started supporting domestic transactions from India as well. I will soon be posting a review on that
Nowadays, Indian payment gateways also provide multi-currency options. But these come at a higher price and less reliability.
Payment Gateway + Billing Solution
What if the payment gateway is already integrated with your billing or invoicing software and you never have to worry about any setup hassles? This is what ProfitBooks billing software offers. Just upload a few documents from the application and you are all set. When you send invoices to your customers, they’ll see an option to pay using credit/debit card, netbanking and wallets.
The transaction fee is super low – 1.9% of transaction value or flat Rs. 99 – whichever is lower!
Know more about ProfitBooks and test drive it for free.
Final Notes
The whole payment gateway outlook in India is changing rapidly. Apart from traditional payment gateways, we now have options to accept money using mobile wallets. The government is also pushing for digital payments by launching UPI and Bharat QR.
The government of India is on a mission to empower small businesses and startups in India. In the coming years, we will see a rise in new payment gateways. Making domestic payments and International payments easy and quick. We will also see a rise in different modes of payments like bitcoin and NFTs in the coming years.
As per my experience, you should give importance to a number of payment options provides, ease of integration and most importantly support while choosing a payment gateway in India. we would also recommend using 2 payment gateways to make sure you never miss a payment from your customer.
I would like to hear your feedback in the comments section below.
Also read –
Best payment gateways for WordPress
How to sell online in India
10 Ways to fund your small business
Learn about new payment method – UPI
How to create professional invoices
Want To Systemize Billing? See How ProfitBooks Can Help
Top 12 FREE Software For Small Businesses
Please write to them and clear the discrepancies. You can also sign up for PayUmoney. They are also good, cheap and most integration can be done online. We use Paytm, PayUmoney and EBS, and we get most payment thru PayUmoney. I just don’t know why customers prefer PayUmoney.
Go to https://dashboard.paytm.com and “sign up for Paytm”. Then you will be asked to upload a few docs and they will contact you for any discrepancy.
If you face any difficulty, you can also write to them at [email protected] and their support quiet good.
Please let me know how to create an account on paytm for integration on website? Let me know required documents and process.
Hi Harshal,
Do you happen to know any resellers in India who can help in selling international payment solutions? We are a international payment gateway which can process over 100 currencies.
Let me know. Thank you.
It is chain reaction….there are many players involved in this whole chain and payment gateways are just a part of it. Schemes (Visa/Master), Issuing Banks, Acquiring Banks and Payment Gateways, Re-seller, Merchants and lastly the consumer. Like in any other business, consumer bears the final cost. Schemes charges Acquiring banks in % basis also, it is called Inter Change (IR). IR is split between schemes and Issuing Banks. It is between 1% to 2% depends on the card type and issuing country and acquiring bank country. Say if you are buying a product on a US website using your indian visa credit card then the IR may be more than 2%, could be upto 3.2% because of cross border fees. So, any thing above this IR is split between Acquiring bank and Payment gateways. If Payment gateway is charging 4% (which is called MDR), then MDR-IR is shared between Acquiring Banks and Payment Gateways.
One way to reduce the IR is use local schemes, for example use CUP in China, RuPay in India, NETS in Singapore etc. To encourage digital payments respective governments lowers the IR for local payment solutions, that is why better to use RuPay in India. Hopefully sooner or later we all use RuPay cards in India to reduce the cost.
Hi Suggest you Safe2pay is one of the most secured and trusted online payment providers in Australia. They provide 24*7 support with no monthly fees also provide multi currency support and charge low fees for each transactions.
Yes @disqus_mZiQCxugqu:disqus . If you pay with netbanking, there is a flat charge. But in case of card transactions, these gateways need to pay Master Card or Visa. At ProfitBooks, we’ve tied up with a payment gateway called Cashfree. They offer a flat fee for netbanking transactions.
Thanks Harsha, I understand this but my question is there should be flat price, why they take % of business transaction. How gateways/Bank cost increase if a merchant is billing 100 or 100000?
Thanks Harsha, 2% of 10 K is 200+taxes Right ? BTW, I found that people pay 10 Rs flat in apartment Adda for any transaction between 1 Rs to 99,000/- , they are using ATOM payment gateways. So looks like there is different plan available for B2B2C for certain categories. Please let me know more if you know more about this type of plan
@suryamunjal:disqus , Our experience with Instamojo has been great so far. You can try that.
@tissyjoseph:disqus , thats great. Somehow, Paytm did not approve our application. So, I couldn’t test it.
Hi @[email protected]_mZiQCxugqu:disqus . Anyone collecting the payment is treated as a merchant by payment gateways. For low volume transactions like society maintenance, you can skip them and use the NEFT option.
Normally, transaction fee is between 1.6% to 2%. So, you’ll pay Rs.20+taxes if you receive 10K.
Hi @[email protected]_mZiQCxugqu:disqus , Imagine you are buying a mobile on Flipkart or Amazon and only option you have is to transfer money to them via NEFT. You’ll need to ask Flipkart their account number, IFSC code and bank name. Then add them as beneficiary, then wait until your bank approves it and then finally transfer the money.
Now, imagine what will happen at Flipkart’s end. They will get thousands of NEFT transfers in their bank. It will be impossible for them to reconcile.
This is just one case. Payment gateways do much more than this.
I hope you understand why we have payment gateways 🙂
Hi Harshal, One more query, Why residential societies are treated as Merchant ? Maintenence money collected by societies is mainly for the common expenses of the society. This money is not collected for business purpose. Most of the payment gateways charge % on transaction amount. How is that justified ? In this case, residents are happy paying through cheque or NEFT transfer. Is there any way out for non-profit organisations to have minimum flat transaction charge Say 10 Rs unto 10,000 /-
Hi Harshal, Somehow I do not understand the logic of payment gateways.. % on transaction amount , How a digit increase their cost of transaction or Bank’s cost. Why a merchant would come on payment gateways when he/she is availing a free cheque and NEFT transfer payment facility ? Why would someone want to pay 800 Rs on 45000 transaction. Please let me know
Hi there.
You can go for Payoneer. Its a very good option and supports more currencies than Paypal.
I will also update this article for international payments.
Hi Harshal
I am planning to start my Business may be in next 15 to 20 days, my website is under process. Well coming straight to the point, 95% to 98% all my customers will be from out of India and very few within india, so can you suggest me the best payment gateway which is very economical for me as well my customers. since i want to reduce my initial setup cost of my business i am looking for a zero down payment PG other than paypal since i m already registering in that. Kindly help in this regard.
Excellent article. Thanks for all the information, this was really helpful.
really glad that u wrote such a article. just wanna ask one question.which payment gateway would be best for eccommerce site considering payment reconciliation as a factor also..small startups tends to lose their time on payment reconciliation.
I see, they have no web site?
What is Colansoft website or contact details..SHARE
This is an excellent article.Can you evaluate a payment gateway developed in India .If so what are your terms and conditions?
There is CPG .Colansoft,Chennai offers this.They claim reduced transaction fee of 1.5%.
Colansoft ,Chennai claims to offer indigenously developed payment gateway with reduced transaction fee of about 1.5 %
There are some software development companies in India which have developed payment gateways.They claim to reduce transaction fee to 1.25 to 1.5 percent.One such software company is colansoft ,chennai
Paytm not only allows payments from their wallet. They accept all credit/debit cards and net banking now. We use it on our two websites They work very well and their service is also very good.
Hey Divya you try Ftcash.com
thanks for the information!! really very good blog…
The 2% transaction cost is pretty high. This doesn’t really go well with new start ups and small merchants. The new instruments like UPI, Bhim app are being used more prominently among traders and vendors to transact among themselves. Of course when it comes to B2C there is need of payment gateways. But 2% is really something high. Can’t help it. Hope they offer some reduction to bulk and recurring transactions. Still its burden on customer.
Hi @vikaassharmaa:disqus . I would recommend Instamojo if your clients are in India and Paypal if they are outside India.
At ProfitBooks, we’ve integrated CashFree PG seamlessly so you can send invoices to your customers and get paid instantly. You can try that out by signing up for a free trial.
Payza doesn’t seem to be popular. None of our customers (over 12,000+) ever mentioned it or asked about it.
Hope this helps.
Dear Harshal,
I am still waiting for your reply to my query!
Hi Harshal!
You have covered the topic very well. I am a Corporate Trainer & have been trying to figure out which PG would suit me better for facilitating hassle free online Registration with ease of online Payment facility. There is one more PG which I couldn’t find in your discussion above – Payza.
Can you please share where does Payza ranks against the popular options shared above?
I’ve covered all the good ones in the article above 🙂
Hi! Thank you for sharing this article. I am looking for a payment gateway for my ‘subscription box’ start up. Kindly let me know few good ones for the same.
Best ,
Divya
Hi! Thank you for sharing this article. I am looking for a payment getway for my ‘subscription box’ start. Kindly let me know few good options for the same. Thank you !
Best ,
Divya
Thanks Harshal , for your kind reply , I really want to know more detail …like what percentage they charge on each transaction and If we need to refund money back to Europe then what they charge ? kindly update me ! Thanks a lot for your reply
Hi @disqus_hAHVDyGZuK:disqus . I didn’t get a chance to review it. Will give it a try and add it to the list for sure.
What about the newbee named Razorpay ?
If you want to accept payments in USD, you can try Paypal or BlueSnap. Currently, I’m evaluating Payoneer which claims to offer lowest rates. I will update the article soon with my review.
Hi , I run a tour business and now I m planning to make a website and I need your suggestion for payment gateway !!! which gate way is best for USD $ payment to send and receive . My mostly client from Europe and they want to send USD Amount and some time If there is cancellation then I need to refund there payment . Kindly suggest me a best , reasonable and safe payment gateway . I m looking forward to see your suggestion .
@disqus_tB1xp8sMaI:disqus Cloud hosting is a in the grey area these days. It is categorized in the high risk business segment by many PSP. Please dont be offended but many file hosting servers host lot of child*orn . In case you have a history with stripe that shows the chargeback % less than the regular approved limit of 1-2% then you may certainly get some acquirers in india. We work very closely with many HIGH RISK International PSP and Also with Few Indian PSP(Not very ok with High Risk Segments) . I will be glad to help you if you need more info on the same.
I can offer a customized payment gateway with no set up fee and less gateway charge. Kindly call +91-9170170133
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We are associated with top 5 Payment gateways. We have good customized plans for companies. Please feel free to reach me for your queries +91- 9170170133 or simple drop an email to [email protected]
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Yes @disqus_tB1xp8sMaI:disqus , you can collect payments from Indian users using Stripe.
Great post Harshal! I’m working with a cloud hosting company in the USA that wishes to expand to India. We use Stripe for our payments in the USA. But I’m not sure if I can use Stripe to charge our clients in India. Do you know if this is possible?
hi, this article seems quite informative. i have a school uniform business and planning for an ecommerce portal for the same. please suggest me the best and cheapest payment gateway as its a startup where i cannot afford too many expenses.
Hi Amit.
It will an exaggerated statement if I say that most payment gateways are unsafe. Yes, they could be some vulnerabilities with some of those but I’m sure they have resources to address the issues. To be on a safer side, you can opt for a well established PG like CCAvenue who are around since a long time.
I understand that currently PGs charge above 2%. At ProfitBooks, we’ve integrated a payment gateway that offers the lowest fee in the market. It charges maximum of Rs. 99 per transaction no matter how big the transaction value is.
You can sign up for a free trial and check it out.
Here is a link – https://profitbookshq.com/signup/new?plan=Trial
Sir, I have a travel portal specially for Flight ticket booking. I want to integrate payment gateway for this portal but as you know flight ticketing is business of 1 to 2% but all PG charging above 2% . In this case which PG is suitable for me?? Plz suggest
You can try Instamojo. ProfitBooks has partnered with Instamojo. So, if you signup with ProfiBooks, your application will be approved within 24hrs.
ProfitBooks also comes up with an inbuilt payment gateway – So, you can get started quickly. Call +91 84 85 86 3000 for more details.
We are running website where I’m providing services instead of product so most of payment gateways provided decline my request, I have talked in Atom and PayUmoney.
Do you suggest any other payment gateway provided who can provide payment for services like freelancers?
Thanks
Billdesk was not included because I could not find a way to register with them. I even sent them multiple emails expressing my desire to register as a vendor but got no reply.
Regarding phone number & email – PGs ask for phone number & email only when you send a payment link to your buyer. If the buyer is paying through your website, they don’t need to enter these details (However, you might need to send these details via API).
PGs need these for KYC purpose.
I have 2 queries.
1. I thought billdesk was the biggest payment gateway in India. They seem to have highest number of netbanking and card options. Why it’s not included?
2. Many of these payment gateways ask buyers for phone number and email which is not only redundant but also a deterrent. Do you have view on this?
Thanks.
Thanks for the update. I’ve updated the article accordingly.
Nowadays CCAvenue folks are advertising about instant approval but it still takes a lot time. It won’t be a month though. Instamojo is fairly quick. For ProfitBooks customers, they do it in 24 hours.
Hope this helps.
I heard that the approval for ccavenue integration and onboarding takes about one month – from the date of application – even now? Is that true? I also heard that instamojo does it in 3 days and that CCAvenue takes a really long time to do that. Can you please guide me regarding this?
I am basically asking this for payment gateway for an e-commerce website selling the food products I manufacture.
If you want a payment gateway to collect payment from your clients, go for Instamojo. You can use CCAvenue for your client’s eCommerce sites.
We a group of website designers mainly focused in shopping sites for clothing.. We do it for startups and what would profit books to recommend payment gateway for us. Thanks in advance
Options for sending money to Indian business from other countries are still limited. However, collecting payments within India is definitely easier these days.
Very useful info. Thanks. Would appreciate updates wherever applicable, like the one mentioned below, for CitrusPay. Looks like it’s time to say good bye to Paypal and expensive wire transfers for Indian business community.
Thanks for the response. Instamojo seems awesome for digital sells. The main problem i am facing is invoicing. digital sells in India are taxable? How much tax applicable for digital items like mp3s and videos? I searched a lot but did not find any answer yet. Expecting a answer in this thread.
Hi Ashok, I would recommend Instamojo for collecting digital payments. Best part is, you can integrate it with accounting software like ProfitBooks and reconcile your transactions.
Use this link for signing up with Instamojo and get Rs.500 credit – https://imjo.in/NN6rx
If you need more info about integration, check this link – http://www.profitbooks.net/instamojo-integration/
All the best.
@HarshalKatre:disqus
Thanks for the nice post. I want to sell digital mp3s, videos. Can i use CC Avenue?
Comprehensive and really nice piece. Appreciate the efforts put in this article. Btw @HarshalKatre:disquscan you update the info about CitrusPay; we’ve reduced the AMC to 1200/- Thanks!
Thanks @sridharpai:disqus . Glad you liked the article. I’m really waiting for Paypal and Stripe to start operations in India as after-sales support is really an issue with most Indian gateways.
very useful Harshal – you cut down the research time I would otherwise have taken ! Crisp and short, appreciate this article and your inputs! thanks indeed
Glad I could help. Between, also check out our accounting app – ProfitBooks.net. We’ve already integrated Instamojo with it. So, you can send payment links along with your invoices using ProfitBooks.
Very good harshal, currently i’m looking a payment gateway which is good for my site to accept payments from clients and i think my search end here. thank you.
@nikhilgolatkar:disqus, Thanks for the suggestion. Will try to keep this article upto date.
@pradipkadam:disqus, Glad to know that you liked the article. Feels great to connect with you again through this medium.
Good one Harshal, I was looking to help my friend on the payment gateway and came across your blog. Really crisp and helpful.
Thanks Harshal,
The Information was very informative and up to mark , Also keep us updated about latest payment gateways too.. It will also be better if you show a compare table with different payment gateways related to plus minus for each.
Thanks via phoneblogcrazy.com
Hi Anuam.
Glad you liked the article. We tried to integrate PayTM for ProfitBooks but for some strange reasons, they kept rejecting our application. I really wanted to try their wallet service.
Anyway, thanks for your feedback.
Very informative article Harshal. Thanks for putting this together. I used to be a freelance developer and I have integrated most of the Payment Gateway and Wallet solutions mentioned above for my client’s apps and websites. One of the PSPs I’ve really come to like over time is Paytm. Their developer support is awesome and their payment solutions are fairly easy to integrate. What I like is that they have built their systems for scale and their success rates are easily 7-10% higher than other players. They use their own payment solutions for their marketplace & recharges as well which I think is key to their backend being really solid.
Hi Anjalee,
You can use multiple gateways provided you have built the back-end logic to route transactions. Alternately, you could use Citrus Pay, India’s leading payment gateway aggregator that lets you do multi-routing and set priorities for gateways from the merchant panel.
You
can also set transaction re-try rules whereby your customers can
re-attempt a transaction with the same or different payment method in
case of transaction failure.
This helps to considerably improve the success rates of transactions and reduce cart abandonment or abandoned transactions. You get all this at a simple and fair pricing.
Thanks Harshal for the quick reply …
Hi Anjalee. Glad to know that you liked the post.
Having 2 different gateways may not be as expensive as you think. Currently, most of the gateways have waived off installation, setups and annual maintenance fee – all you need to pay is your transaction commission.
At ProfitBooks, we have integrated one payment gateway and keep another one handy to send manual payment requests in case first one is not working.
Hope that helps.
Great work Sir. No need to go anywhere for any information on payment gateway. The complete information is here. As you have mentioned that use 2 payment gateway service to never miss a single payment. But this could be costly for start up businesses. Can you have any alternative for the same ???