India’s payment gateway ecosystem has exploded with options in recent years, making it increasingly challenging for businesses to identify and evaluate all available choices. From established giants processing billions in transactions to emerging fintechs offering innovative solutions, the landscape is more diverse than ever.
This comprehensive guide presents the most complete list of payment gateways operating in India, organized by category and use case.
- India Payment Gateway Market Overview
- Complete List of Payment Gateways in India by Category
- Gateway Comparison by Category
- How to Choose from This Comprehensive List
- Pricing Overview by Gateway Category
- Regulatory Compliance Requirements
- Final Thoughts and Recommendations
- Understanding Gateway Categories in Detail
- The Evolution of India's Payment Gateway Ecosystem
- Key Considerations When Evaluating Gateways
- The Future: Emerging Trends to Watch
- Final Checklist: Before You Decide
India Payment Gateway Market Overview
Key market statistics for 2025:
- Market Size: USD 2.07 billion (2025), projected to reach USD 4.01 billion by 2031
- UPI Market Share: 63.85% of payment gateway transactions
- Cloud Deployment: 72.20% of market
- QR Codes: 709+ million deployed nationwide
- Growth Rate: 9.63% CAGR
Complete List of Payment Gateways in India by Category
Major Full-Service Payment Gateways
These comprehensive solutions support all major payment methods:
- Razorpay – Market leader with 180+ payment methods. Trusted by 86 of India’s top 100 unicorns.
- PayU – Enterprise-focused with 100+ payment options. Strong international capabilities.
- CCAvenue – Veteran player since 2001 with 200+ payment options and 27+ multi-currency support.
- Cashfree Payments – Known for instant settlements. Processes $20+ billion annually.
- BillDesk – B2B specialist processing 400M+ transactions annually.
- Paytm Payment Gateway – Leverages 300M+ wallet users. Zero MDR on UPI.
- PhonePe Payment Gateway – UPI leader with 47M+ merchants and 99% success rates.
- Instamojo – Small business champion with 1M+ merchants.
- Easebuzz – Cost-effective at 1.5% average fees.
- Juspay – Technology innovator powering top UPI apps.
- Airpay – 140+ payment instruments across channels.
- Worldline India – Enterprise-grade omnichannel solution.
International and Cross-Border Payment Gateways
Gateways specializing in international transactions:
- PayPal – Global standard in 200+ countries with 100+ currencies.
- Stripe – Developer favorite with 135+ currencies across 47 countries.
- 2Checkout (Verifone) – 200+ countries, 87 currencies.
- Wise (TransferWise) – 170+ countries, 50+ currencies. Real exchange rates.
- Payoneer – 200+ countries, 150+ currencies. Marketplace integrations.
- BRISKPE – 80+ countries, 100+ currencies. Transparent flat-fee pricing.
- Winvesta – Indian exporter solution with local collection accounts.
- Skydo – SME-focused international payments.
- Adyen – Enterprise global platform (Microsoft, Netflix, Spotify).
- Checkout.com – High-growth gateway with 150+ currencies.
Bank-Affiliated Payment Gateways
Traditional banking players offering payment solutions:
- HDFC Bank SmartGateway – HDFC’s enterprise solution.
- ICICI Bank eazypay – ICICI’s gateway with corporate banking integration.
- Axis Bank Payment Gateway – Axis digital solution.
- SBIePay – SBI’s gateway with government sector presence.
- Kotak Payment Gateway – Kotak Mahindra offering.
- IndusInd Payment Gateway – Customized enterprise offerings.
- Yes Bank Payment Gateway – Yes Bank digital platform.
- Federal Bank Payment Gateway – For businesses of all sizes.
Specialized and Niche Payment Gateways
Gateways focused on specific use cases:
- EnKash – B2B payments and expense management.
- Phi Commerce – Omnichannel enterprise payments.
- Pine Labs – POS and QR solutions.
- BharatPe – QR-based payments for small merchants.
- Mobikwik Payment Gateway – Wallet-focused.
- FreeCharge Payment Gateway – Digital wallet payments.
- Amazon Pay – E-commerce giant’s solution.
- Google Pay for Business – Google’s merchant solution.
- WhatsApp Pay – Messaging app payments.
- ToneTag – Sound-wave based payments.
Emerging and Regional Fintech Players
Newer entrants bringing innovation:
- IppoPay – Tamil Nadu-based aggregator.
- PayG – Growing regional player.
- M2P Fintech – API-first infrastructure.
- Decentro – Banking API platform.
- Setu – Account aggregator and infrastructure.
- YAP – Payment infrastructure for neobanks.
- Open Financial Technologies – Neobanking platform.
- Lazypay – Buy Now Pay Later integrated.
- Simpl – Checkout financing solution.
- ZestMoney – EMI and payment solutions.
Enterprise and Industry-Specific Solutions
Specialized solutions for enterprises:
- NTT DATA Payment Services – Enterprise solutions.
- Ingenico – POS and payment terminals.
- Verifone – Payment hardware and software.
- Fiserv – Global fintech platform.
- FIS – Banking and payment technology.
- TSYS – Payment processing solutions.
- First Data – Commerce-enabling technology.
Gateway Comparison by Category
| Category | Count | Avg Fee | Best For |
| Full-Service | 12+ | 1.5-2.5% | All businesses |
| International | 10+ | 2.9-4.4% | Global trade |
| Bank-Affiliated | 8+ | 1-2% | Enterprise |
| UPI-Only | 5+ | 0-0.9% | Small merchants |
How to Choose from This Comprehensive List
Step 1: Define Your Business Requirements
Document your specific needs: transaction volume, average transaction size, required payment methods, international requirements, settlement timeline, technical capabilities, and budget.
Step 2: Match to Gateway Category
- Startups/SMBs: Razorpay, Cashfree, Instamojo
- Enterprises: PayU, Worldline, CCAvenue, bank gateways
- International focus: PayPal, Stripe, Razorpay, Winvesta
- Small merchants: PhonePe, Paytm, BharatPe
- Freelancers: Instamojo, Payoneer, Wise
Step 3: Evaluate Shortlisted Options
Consider: setup time, integration complexity, customer support, pricing transparency, uptime history, and user reviews.
Pricing Overview by Gateway Category
- Full-Service Gateways: 1.5% – 2.5% + GST
- International Gateways: 2.9% – 4.4% plus conversion fees
- Bank-Affiliated Gateways: 1% – 2% + GST
- UPI-Only Solutions: 0% – 0.9%
- Setup Fees: Rs 0 to Rs 25,000
- Annual Maintenance: Rs 0 to Rs 12,000
Regulatory Compliance Requirements
All payment gateways in India must maintain:
- RBI Payment Aggregator License
- PCI DSS Certification
- ISO 27001 Information Security
- Data Localization Requirements
- KYC/AML Compliance
Final Thoughts and Recommendations
India’s payment gateway ecosystem offers unprecedented choice and quality for businesses of all sizes. From full-service giants like Razorpay and PayU to specialized solutions for every niche, there’s truly a gateway for every need.
The key to making the right choice is starting with your business requirements rather than gateway features. Understand your transaction patterns, customer preferences, growth plans, and technical capabilities before evaluating options.
For most businesses, we recommend starting with Razorpay for its comprehensive features, competitive pricing, and proven reliability. As your needs evolve, consider adding specialized gateways for specific use cases.
This list represents the market as of early 2025, but the landscape continues evolving rapidly. Bookmark this guide and revisit your gateway choice annually to ensure it remains optimal.
Affiliate Disclosure: This post contains affiliate links for select payment gateways. If you sign up through these links, I may earn a commission at no additional cost to you.
Understanding Gateway Categories in Detail
Each category of payment gateway serves different business needs. Understanding these distinctions helps you narrow down your search effectively.
Full-Service vs. Specialized Gateways
Full-service gateways like Razorpay, PayU, and CCAvenue offer comprehensive solutions covering all payment methods. They’re ideal for most businesses but may include features you don’t need.
Specialized gateways focus on specific use cases. BillDesk excels at recurring bill payments. PhonePe dominates UPI. Instamojo serves freelancers. Choose specialized options when your needs are specific.
Domestic vs. International Focus
Domestic-focused gateways (PhonePe, Paytm) offer excellent UPI and local payment support at competitive rates. They’re perfect for India-only businesses.
International gateways (PayPal, Stripe) provide multi-currency support and global reach. Indian businesses with international customers need these capabilities.
Hybrid solutions (Razorpay, PayU) offer the best of both worlds – strong domestic features plus international capabilities.
Enterprise vs. SMB Solutions
Enterprise solutions (Worldline, bank gateways) offer robust infrastructure, dedicated support, and custom pricing. They require higher volumes (typically Rs 50+ lakhs monthly) to be cost-effective.
SMB solutions (Instamojo, Easebuzz) focus on ease of use, quick setup, and affordable pricing. They’re perfect for smaller businesses without complex requirements.
The Evolution of India’s Payment Gateway Ecosystem
India’s payment gateway landscape has transformed dramatically over the past decade. Understanding this evolution helps predict future trends.
The UPI Revolution
UPI’s launch in 2016 changed everything. From zero transactions to 14+ billion monthly transactions in 2025, UPI now dominates Indian digital payments. Gateways that adapted quickly (PhonePe, Razorpay) gained significant market share.
The Rise of Fintech
Traditional bank gateways once dominated. Today, fintech innovators lead the market. Razorpay, founded in 2014, now processes more transactions than most bank gateways combined.
International Expansion
Indian gateways are going global. Razorpay expanded to Malaysia and Singapore. PayU operates across 16+ countries. This international footprint benefits Indian businesses with global ambitions.
Key Considerations When Evaluating Gateways
Transaction Success Rates
Success rates vary significantly. Top gateways achieve 95-98% for UPI and 85-92% for cards. A 5% difference in success rate can mean lakhs in lost revenue for high-volume businesses.
Settlement Timelines
Standard settlement is T+2 (transaction day plus 2 days). Some gateways offer instant (T+0) or next-day (T+1) settlements for a fee. For cash-flow critical businesses, faster settlements justify the extra cost.
Customer Support Quality
When payments fail, responsive support matters. Evaluate support channels (phone, email, chat), response times, and technical expertise. Razorpay and PayU are known for good Indian support.
Integration and Documentation
Good documentation saves development time. Stripe and Razorpay offer excellent docs with code examples. Poor documentation can add weeks to integration timelines.
Security and Compliance
All listed gateways maintain PCI DSS compliance. Additional certifications like ISO 27001 indicate stronger security practices. For sensitive businesses (healthcare, finance), prioritize security certifications.
The Future: Emerging Trends to Watch
The payment gateway landscape continues evolving. Key trends include:
- Credit on UPI: BNPL integrated directly into UPI
- Voice-based payments: Emerging for accessibility
- Cross-border UPI: International UPI expansion
- AI-powered optimization: Smart routing and fraud detection
- Embedded finance: Payments integrated into non-financial apps
Choose a gateway that demonstrates innovation and adapts to these trends.
Final Checklist: Before You Decide
Before finalizing your gateway choice, verify:
- All required payment methods are supported
- Pricing is fully understood including hidden costs
- Integration timeline fits your launch plan
- Support quality meets your expectations
- Settlement timeline works for your cash flow
- Compliance requirements are met
- Scalability for future growth is assured
Take time to evaluate thoroughly. The right payment gateway is a long-term partner in your business success.
