Running an online business can be challenging. No matter how small or big a startup is, its incomplete if it doesn’t have the ability to make payment online. Every online business needs to choose a payment gateway for its website which could be a challenging task. Today, we are going to review a few of the payment gateways available in the market for Indian Startup companies.
- CCAvenue
One of the most widely used payment gateway in India. CCAvenue owned by company “Infibeam Avenues” is one the the most preferred gateway for any business running online.
Pros
- Low commission rate “1.75%”.
- Supports 200+ Indian banking payment options.
- Free to join for startups.
- It can be integrated with all CMS, Billing software, etc.
- Weekly payouts.
Cons
- Support is slow, it takes almost 2 days for a response.
- No option for instant withdrawal.
- Lengthy signup process.
- Annual maintenance charges (Rs.1200).
2. Instamojo
Recently introduced a payment gateway and a very user-friendly payment gateway. Instamojo is India’s fastest growing on-demand payment.
Pros
- Average commission rate “2%” + Rs.3.
- Supports 100+ Indian banking payment options.
- Instant payout option available.
- Very user-friendly UI.
- Free to join for startups.
- It can be integrated with all CMS, Billing software, etc.
- Very easily to signup and get verified.
- No annual charges.
Cons
- Fewer payment options.
- A lot of scope for improvement with payment links.
3. EBS Payment Gateway
EBS Payment Gateway is one of the best payment gateway available in India. It supports almost all CMS or Billing Softwares. Here are some of the Pros of EBS:
Pros:
- Excellent Customer Support.
- Fast Approval.
- It can be integrated with almost every script.
- Accepts NetBanking through almost every available bank in India.
Cons:
Expensive initial pricing.
4. Payu (or) Payumoney
PayU (formerly PayU Money) is one of the best payment gateways to accept online payments. You can start accepting payments securely and seamlessly within your iOS, Android or Windows app, within minutes.
Pros
- Easy onboarding process.
- 2% transaction fee on all payments.
- No annual charges.
- 2 days payout option.
Cons
- Requires alot of documentation for signup.
- Slow customer support.
