India’s Top 10 Payment Gateways for Start-ups and SMEs

The e-commerce industry has grown exponentially in India and is expanding throughout Asia. This is because there are no taxes to receive payments online. The dramatic changes in the market and the presence of these top 10 payment gateways in India make it very simple.

What is a payment gateway?

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A payment gateway is an application that simplifies and simplifies the online payment process. This is a way to connect a seller’s website or mobile application to a bank. After completing a transaction using the payment gateway, the seller’s website sends payment information (debit/credit card or online bank details) to the gateway for confirmation. The payment gateway confirms the details with the bank, and the amount is released from the bank account and transferred to the seller’s bank account.

Benefits of payment gateway

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Most e-commerce platforms and online websites that need to complete financial transactions use payment gateways today. This is due to the various benefits offered by India’s top 10 payment gateways.

  • Safe trading
  • Expanding the customer base
  • Faster transaction processing
  • Included in the shopping cart
  • Improved comfort

If the payment gateway does not exist, the merchant will need to contact each bank partner individually for payment to take effect. The payment gateway solves this problem and makes the whole process more agile and secure.

How to choose the best payment gateway?

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If you are a start-up or established player entering the world of e-commerce, you will need a payment gateway to receive money from your customers. However, choosing the right payment gateway in India can be difficult. Most business owners have decided to go to one of the top payment gateways in India. This is a good idea, but the best random payment gateways may not meet all the requirements.

Here are some tips to keep in mind before signing up for a payment gateway company:

a) Setup Fee / Transaction Fee: Startups may not want to pay the setup fee, so you need to choose a payment gateway. Similarly, established brands demand lower transaction fees.

b) Automatic billing: Do you need help with automatic billing? If you offer an annual subscription, you must partner with a payment gateway that supports automatic payment for recurring plans.

c) Change as needed: You are not married to a payment gateway. This means that you can switch from one payment gateway to another depending on platform conditions and the number of transactions completed.

d) CMS support: Check with your payment gateway to see if your e-commerce platform supports CMS.

e) Overseas customers: When selling overseas, please make sure that the payment gateway allows the use of foreign credit cards.

f) Reputation: Evaluate the company’s current reputation to make sure it is reliable and satisfying its customers.

India’s Top Payment Gateways

The top payment gateways in India used by most online businesses are:

1) Instamojo

2) CC Avenue

3) Payment for citrus fruits

4) DirecPay

5) Jaspey

6) Bill Desk

7) PayPal

8) Razorpay

9) MobiKwik

10) PayU

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