Razorpay Vs PayU Vs Instamojo Vs CCAvenue: The Best Indian Payment Gateways

As per estimates, the value of best Indian payment gateways will grow by four times till 2025.

More and more people are placing their trust in online payment methods. To capitalize on this trend, businesses should make the best payment gateways available on their site that ensure faster and safe transactions.

With the number of options available in the market, it can be confusing for a business owner to choose from the most popular payment gateways.

We’ve done the legwork for you with this detailed comparison between top payment gateways and tell you how these best online payment gateways can be beneficial for small businesses.

How to Choose the Best Payment Gateway for Small Business

The decision to use a payment gateway should involve a lot of deliberation. Because if your chosen payment gateway does not align with your business model, it may lead to monetary loss and less than satisfactory customer experience.

So, we bring a checklist to help you choose best online payment platform for your business needs.

1. Setup fee and transactional charges

If your business is involved in large transactions, you should opt for payment gateways charging a low transaction rate. Payment gateway companies are anyway trying to curb in transaction fee on local and international transactions. Many of them do not charge setup or maintenance fee. 

2. Handling foreign clients

If your business caters to overseas customers, it is necessary that the payment gateway you choose offers the option of accepting payments in foreign currency.

3. Secure transactions

Ensure that the payment gateway of your choice encrypts payment between your business site and the customer end using PCI DSS standards.

4. Handling failed transactions

In case of payment failure, the payment gateway should offer a quick and easy way to retry the payment. If the amount is deducted but the order is not processed, the gateway should have a mechanism to initiate refund quickly. 

Best Indian Payment Gateways for eCommerce Websites in India

1. Razoprpay
2. PayU
3. Instamojo
4. CCAvenue

• Razorpay

Razorpay is one of the most popular payment gateways for businesses to accept payments through different modes.

These include UPI, credit card, debit card, netbanking, etc. With Razorpay, you get an interactive dashboard which shows you all the information regarding your payments, refunds and more.

Razorpay Indian payment gateway also uses developer friendly APIs and plugins by which your business can provide payment options in different languages. 

Why Should You Choose Razorpay?

You can easily integrate Razorpay checkout with your website for faster payment processing. It also allows you to accept payments in local and foreign currencies.

Recently, Razorpay has come out with Payment Buttons, which would enable SMEs to host a payment gateway on their site without needing a developer.

• Razorpay Vs PayU

PayU Indian payment gateway is one of the best online payment platforms for business as well as individual use. PayU makes each payment highly secure by encrypting transactions both at your end and at the customer end.

It is a developer centric payment gateway and provides your developing team with ready to use test environments and responsive designs.

Why Should You Choose PayU?

You can quickly integrate PayU on your online site and mobile app. PayU offers an intuitive dashboard on which you can manage transaction details, initiate refunds and create access controls for team members.

• Razorpay Vs Instamojo

In addition to providing multiple payment options, Instamojo payment gateway is also used for obtaining loans, shipping parcels and for creating online stores.

Instamojo ranks among the best Indian payment gateways as it provides the feature of collecting payments via payment links. These links can be shared through WhatsApp, email, SMS, etc.

Currently, there are more than 100 payment modes supported by the platform with each payment on Instamojo being secured through PCI DSS encryption.

Why Should You Choose Instamojo?

Instamojo is suitable for collecting bulk payments from customers. The best payment gateway has the option of a pay button. This button gets embedded to your online site and by clicking it, customers can complete their payment in a single step.

• Razorpay Vs CCAvenue

CCAvenue payment gateway helps you service international clients as it accepts payment in more than 27 currencies.

What makes CCAvenue the best online payment gateway is that it engages your customers at the checkout stage. The checkout page can be viewed in 18 local and international languages.

Moreover, you can also customize the payment page as per your business needs. You can add a logo as well as change color themes.

Why Should You Choose CCAvenue?

With the retry option, customers can easily and quickly process their failed transactions. If your business does not have a website, then CCAvenue provides you a customizable store front for free.

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Comparing Best payment Gateways in India for International Transactions

1. Pricing: Razorpay Vs PayU Vs Instamojo Vs CCAvenue

• Razorpay

Razorpay does not levy any setup or maintenance fee.

For Indian credit and debit cards, UPI, Netbanking: 2% fee + GST per transaction

For International cards and AMEX: 3% fee + GST per transaction

• PayU

It does not apply any monthly or annual maintenance fee.

For Indian credit and debit cards, UPI, Netbanking: 2% fee + GST per transaction

For International cards and AMEX: 3% fee + GST per transaction

• Instamojo

Instamojo does not levy any setup fee or maintenance charge.

For Indian credit and debit cards, UPI, Netbanking: 2% fee + ₹3 per transaction (exclusive of GST).

For International cards and AMEX: 3% fee + ₹3 per transaction.

The price of premium store online starts from ₹7999 per year (exclusive of GST)

• CCAvenue

CCAvenue offers two plans. Startup pro plan and Privilege plan

For startup pro plan:

• 2% charge on netbanking, debit card, wallets, etc.
• 3% charge on international debit cards and commercial credit cards
• 4% charge on AMEX
• 4.99% charge on multi-currency options

For Privilege plan:

• This plan includes a setup fee of ₹30,000.
• Transactional details are available on request.

2. Payment Methods: Razorpay Vs Instamojo Vs PayU Vs CCAvenue

• Razorpay

Razorpay offers support for UPIs, online wallets, credit cards, debit cards, AMEX, etc. It also accepts payments in 92 currencies used across the world.

• PayU

PayU supports payment through NEFT/RTGS from popular banks, credit and debit cards such as Visa, Mastercard and AMEX, ewallet, etc. It also allows transactions in more than 100 international currencies.

• Instamojo

Instamojo accepts payments made through UPI, credit and debit cards, netbanking, international cards, AMEX, etc. It does not extend multicurrency support at this moment.

• CCAvenue

It offers payment methods such as credit and debit cards, international cards, AMEX, UPI, Netbanking and online wallets. CCAvenue processes payments made in over 27 currencies around the globe.

3. Website Integration: Razorpay Vs CCAvenue Vs PayU Vs Instamojo

• Razorpay

Razorpay can be embedded on your checkout page by using a single code line.

• PayU

You require a merchant account and security key for integrating PayU with your website.

• Instamojo

Instamojo can be easily integrated with any website due to its developer friendly APIs and SDKs

• CCAvenue

CCAvenue offers quick and easy integration due to its APIs and integration kit.

4. Mobile App Support: Razorpay Vs PayU Vs Instamojo Vs CCAvenue

• Razorpay

It offers a mobile app version for android and iPhone users with autofill OTP feature.

• PayU

PayU does not offer mobile app support currently.

• Instamojo

With Instamojo’s mobile app, you can create payment links and run your own free online store.

• CCAvenue

CCAvenue mobile app is available for android and apple devices. The app has a retry button for quick repayment in case of failure the first time around.

5. Data Security: Razorpay Vs Instamojo Vs PayU Vs CCAvenue

Razorpay, PayU, Instamojo and CCAvenue are all PCI-DSS compliant. While CCAvenue, PayU and Razorpay make use of 128-bit SSL encryption, Instamojo works on 128-bit AES encryption.

Razorpay Vs PayU Vs Instamojo Vs CCAvenue: Which is the Best Payment Gateway in India

Now that you know about the best Indian payment gateways, we present a tabular comparison between these. It’s time to find the major similarities and differences between the top payment gateways in India.

Category	Razorpay	PayU	Instamojo	CCAvenue
Customer support	Razorpay provides 24X7 chat and IVR support.	Payu provides only chat support	Instamojo provides the support through email and IVR on weekdays.	CCAvenue offers email, voice and call support 24X7
User Friendliness	Intuitive dashboard   Easy integration	Intuitive dashboard   Customizable user interface	Developer friendly APIs   Intuitive dashboard	Powerful dashboard   Payment via social media handles
Setup Fee	Nil	Nil	Nil	Nil for startup pro plan.   ₹30,000 for privilege plan.
Charges on Refunds	No charge Transfer fee is non-refundable	No charge Transfer fee is non- refundable	No charge Transfer fee is non- refundable	No charge Transfer fee is non- refundable
Accepted Payment Methods	Netbanking, UPI, credit and debit cards, e-wallets, international cards, AMEX	Netbanking, UPI, credit and debit cards, e-wallets, international cards, AMEX	Netbanking, UPI, credit and debit cards, e-wallets,  international cards, AMEX	Netbanking, UPI, credit and debit cards, e-wallets, international cards, AMEX
Supported Payouts	NEFT, wallets, UPI, IMPS	RTGS, UPI, IMPS	Registered bank account	Registered bank account, NEFT

Best Indian Payment Gateway: Conclusion

Razorpay, Instamojo, CCAvenue and PayU are considered among the best online payment gateways in India. However, which of these popular payment gateways will be the most suitable for your business depends on your needs.

Some important factors you should keep in mind are types of transaction being handled by your business, your customer base, recurring billing, support for payments through mobile, encryption etc.  No matter what choice you make, we prod you to start using a payment gateway. The best online payment platform facilitates easy online payments and helps provide a unique experience to your customers.