Choosing a payment gateway can be a difficult task. More often than not, we just end up going with the big names because the other online sellers are doing so. While there is nothing majorly wrong with that, knowledge is power, and the knowledge of various payment gateway providers in India gives you the power to choose.
Payment gateways are essentially middlemen in an online transaction. They authorize payment through debit and credit cards, net banking, cash cards, and other online payment options for businesses. You need to know the difference between a payment gateway and merchant accounts. A merchant account is underwritten by a bank, which means that the bank uses the process to analyse the risks presented by the merchant who wants to accept credit cards. Payment gateways, on the other hand are essentially servers that route the credit card payments through a processor network and deposits it into your account.
So what are the things that you should know before approaching a payment gateway provider? Firstly you need to know whether you are looking for a hosted gateway or a non-hosted one. A hosted gateway is one where the customer is redirected from your website checkout page to the gateway provider’s page where they can enter their payment details. A non-hosted gateway lets the customer transact on your website itself.
This choice is dependent on the kind of market you are selling to. Whether your customers are comfortable being redirected to another page or no. Once you tackle this question, you can move on to shortlisting your options and doing background checks.
So here is the list of payment gateway providers you can go for in India.
Payment Gateway Providers in India
A veteran in the Indian market, CCAvenue is the top choice of many Indian online sellers. Its highlights include multi-platform integration, multilingual checkout page, live monitoring and analytics, etc. It offers two plans – Popular and Privilege, with competitive pricing. Prominent clients for CCAvenue include MakeMyTrip, AirAsia, ClearTrip and Taj.
PayZippy is Flipkart’s own payment gateway service, launched in 2013 and now a standard name in the sector. It is fast, convenient and secure and offers mobile integration. Pricing can be checked here. PayZippy is a non-hosted payment gateway provider, which means consumers can complete their transaction on your website itself. It is also extremely secure, with great merchant support and can handle mobile transactions.
Citrus makes its pricing policy very simple, with a flat 1.99% commission per transaction plus a setup fee. Although not as popular as the above two payment gateway providers, Citrus has carved a place for itself in the Indian market. Companies like RedBus, LensKart and HealthKart have used Citrus as their payment gateway provider.
PayU claims to be one of the most comprehensive payment gateways in the Indian market. It is surely one of the most popular ones. PayU supports a huge list of prominent e-commerce brands, including Snapdeal, Freecharge, GoIbibo and BokMyShow. It has an elaborate, many tiered pricing policy, with lot of options to choose from. PayU supports mobile transactions, claims to drastically reduce your bounce rate, supports all major credit/debit cards including Maestro. It also supports more than 33 major net banking banks.
EBS is another payment gateway company that offers a wide range of payment options. Boasting the partnership of various e-commerce giants like Fashionara, HealthKart and TravelYaari, it is a very popular choice with new startups. EBS was the first Indian payment gateway to achieve the coveted PCI DS1 level of standards, which means they provide secure, non-hosted payment gateways. Their pricing options are listed here.
ZaakPay is the favored merchant gateway for many prominent Indian online retail conglomerates including Jabong, HomeShop18 and Explara. Their solid network extends to all major card companies, 52 net banking banks and provide support for 13 major currencies in the world. They also offer mobile payment gateway support. ZaakPay is a hosted payment gateway service.
For any more information or queries about payment gateways, don’t hesitate to get in touch with Browntape. We are India’s leading e-commerce solution providers, and we are always happy to help!