blog
11 Aug

Owning and Running an ecommerce store comes up with major challenges irrespective of how great your business idea is, how quality products you provide or how your e-commerce store looks like, getting revisits to your store to a major extent depends on the ease of transaction experienced by a shopper. Payment gateway is a sole mean to ensure hassle-free payments and to assure the visitors that they can trust your ecommerce store and all the payment transaction are carried in a secured manner.

To collect online payment from your customers, a payment gateway is must.Your payment gateway account allows your customers to make payments by credit, debit cards, net banking & cash cards securely.

There are many payment gateways available in market, selecting and integrating the best out of them is the battle major ecommerce stores are facing. Decision of selecting a payment gateway for your e-store can be made easier considering the below points:

  1. Payment Gateway Cost

Major players in market provide you a secured service with one-time Set-up fee that is nominal. In addition to this, they charge you commission on every transaction that occurs on your ecommerce store. Apart from this, a legible amount of annual maintenance fee is charged.

  1. Merchant Support & Service

Support & Service is one of the important factors as having a decent connection with the service provider eases out half of your pain of opening a payment gateway account. Guaranteeing smooth operations as well as throughout support is like cherry on top of cake.

  1. User-interface of Payment Page

An important component which is the front face to your clients while making payments. Before signing-up with any of the service provider, ensure that they have a comfortable & easy to use payment page.

  1. Other

Cross-check the other basic things with the provider such as – Multiple Payment Options, Stringent Fraud Check Processes, High Uptime, Reliable organisation/administration, Sandbox environment, integration API, support for your CMS, etc.

Keeping in mind all the above points, let’s explore the top payment gateways:

One of the biggest payment gateway providers in India that includes 100+ payment options (7 ATM Cards, 100+ Debit cards, 6 Credit cards, 53+ Net banking, 48 Bank’s IMPS, and many more), Multiple Currency Processing, Retry Availability & Customization, Audit, Analytics and a large window for active users. The best part of it is that it engages customers in their native languages as it has a pool of 8 Indian languages & 10 International languages. Currently, it has 85% of the e-commerce merchants under its roof. If your website is live, CC Avenue payment gateway can be integrated for free.

Instamojois one of the largest multi payments network in India powering over 2 lacs small businesses. One of the best things it offers is collecting payments using links through Whats app, Facebook, SMS, etc. It has been partnered with ICICI bank to allow businesses to receive payments through Unified Payments Interface (UPI).

  • Paytm

Paytm is well known and is the best online payment gateways in India and it is ranked among the top. Paytm is accepted by 850,000 Number of offline Merchants

The uniqueness is that with Paytm Wallet you can make cashless payments without internet connectivity using QR codes.

PayUMoney serves over 4,000 merchants such as Bookmyshow, Goibibo, etcacross the nation. It has partnered with all major national and cooperative banks summing up to 125+ banks to receive payments. It offers free billing software for your phone that creates& shares invoices via WhatsApp or email. It comprises ofaround 2 lacs active sellers.

  • Razor Pay

Razor pay is a new entrant to this market and it simplifies the flow of online payments through a clean, simple-to-use &user friendly interface.It has an active base of more than 10,000 users.The plus point of it is that a user can begin and end payments on the same page without transferring customers to different pages. It doesn’t redirects.

In addition to above, the comparison below would help you out to select the best for your ecommerce store:

Payment GatewaySetup Fee (INR)Commission Per Transaction
CC Avenue0(Start Up)2% – 4.99%
Instamojo0(2% – 5% )+ Rs.3
Paytm01.99%
Razor Pay02% -3%
PayUMoney02% Flat transaction rates & 1% Extra on AMEX Card.

Viewing above, you need to integrate appropriate payment gateway to enhance the payment transactions of your ecommerce store.


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