Top 5 payment gateway companies to consider in 2023

A payment gateway is an application that makes the online payment process very simple and easy, also in the digital era it is an essential for any business to accept payments through digital mode. A payment gateway is a technology provided by a third party that ensures the secure transfer of money from the customer’s bank account to the merchant’s payment portal.

If you are looking for a payment gateway company for your business, look no more! Listing below leading 5 payment gateway platforms that you can consider in 2023,

1 Cashfree Payments-

Cashfree Payments is a reliable payment gateway that can manage online, mobile and offline payments. Businesses with high transactions can go for it due to centralised control and advanced dashboard.

Payment modes- It offers 120+ payment methods to customers, including cards, 65+ net banking options, Paytm, UPI, other wallets, payment links and Pay later options like EMI or Buy Now Pay Later (BNPL).
Pricing- The transaction fees are the lowest in the industry and vary for different payment models:
0% per transaction for UPI and RuPay.
1.90% for using net banking, digital wallets, Google Pay, and debit/credit cards.
2.95% per transaction for Diners Club and American Express cards.
3.5% + Rs 7 per transaction for Visa and Mastercard international credit/debit cards
2.2% for opting pay later and cardless EMIs.
E-commerce plugins-The integration kits are developer-friendly with a same-day onboarding facility. Cashfree offers multiple integration APIs for website integration, mobile SDK integration, and predefined plugins for some leading e-commerce platforms like Shopify, Magento, Woo-Commerce, OpenCart, WHMCS, and PrestaShop.
Advanced dashboard- Also, merchants can reconcile all payments, settlements, and refunds and get notified on transaction status – success, pending, etc. in real-time.
2. Easebuzz-

Easebuzz is a full-stack payment solutions platform serving more than 85,000 businesses of all sizes in India. Easebuzz helps companies manage end-to-end financial operations around digital payment collections, payment disbursals, connected banking, split payments, automated reconciliation, vendor payments, sub-merchant management, refund management, etc. through plug-and-play API solutions. Businesses can use Easebuzz to collect online customer payments through its varied APIs and customised solutions.

Payment modes: Merchants can offer 100+ payment options such as cards (Visa, Master, Maestro, Rupay, commercial cards), wallets, UPI and netbanking, and Buy Now Pay Later (BNPL) payment instruments.
Pricing- The payment gateway tool of Easebuzz comes with customised pricing suitable for every business need. Avail zero setup and maintenance fees with robust security.
E-commerce plugins- Merchants can install a plugin that integrates Easebuzz Payment Gateway with websites created using e-commerce websites such as Shopify, WHMCS, Magento, OpenCart or WooCommerce.
3. Razorpay- Razorpay is India’s first full-stack financial solutions company. It allows a fast checkout facility by enabling customers to save their card details which can be used for subsequent payments across the Razorpay network.

Payment modes: Merchants can accept payments from all major credit and debit card networks like Mastercard, Visa, American Express and RuPay. It has become the first payment gateway to support credit cards on UPI.
Pricing- It has two plans for their product-

The standard plan for startups and small and medium enterprises at 2-3% per transaction with no setup and annual maintenance fee.

Customised plans from bigger companies.
E-commerce plugins- Merchants can build a plugin that integrates Razorpay Payment Gateway with websites created using e-commerce platforms such as Shopify, WordPress, WiX, Drupal or
Spree Commerce.

4. CCAvenue- A payment gateway service provider that offers simple, secure, and validated Internet payments via a complete range of online payment solutions for businesses. It provides multilingual checkout pages in 18 major Indian and International languages and engages consumers who prefer content in their native languages to give the seller a wider global reach.

Payment modes: Merchants can accept payments through credit or debit cards, Net Banking, digital wallets, mobile payments, etc. It provides maximum payment options, including six credit cards, 58+ net banking, 97+ debit cards, 13 prepaid instruments, and EMIs.

Pricing- CCAvenue takes a different approach in its setup fee pricing. It includes a Startup Pro Plan with no charges and the Privilege Plan that charges Rs. 30,000. Moreover, an Annual Software Upgradation charge of Rs 1200 applies to Startup accounts. Transaction fees are as follows:
0% on UPI payments and Rupay debit cards.

2% per transaction of all domestic credit/debit cards, digital wallets, net banking, and UPI transactions.
4.99% per transaction for all international debit/credit cards.
3% per transaction for all domestic corporate/commercial credit cards.
4% per transaction for all American Express, Amex EMI, and Diners Club Cards.

4.99% per transaction for all 27 multi-currency options.
0.20% – 0.50% per day for CCAvenue Finance service.
E-commerce plugins- Merchants can build a plugin that integrates CCAvenue Payment Gateway with websites created using e-commerce platforms such as BuildaBazaar, WordPress, Magento, Martjack or NopCommerce.

5. PayU- It is one of the best payment gateways that offer the industry-best success rates while ensuring a seamless checkout experience. With the PayU payment gateway, customers’ money is safe and secure as it is PCI-DSS compliant.

Payment modes: Merchants can Cater for every customer with 150+ payment options across credit cards, debit cards, net banking, EMIs, BNPL, UPI, & Wallets.

Pricing- At PayU, there are no setup or maintenance charges for the payment gateway. The pricing of transactions is as below-

For domestic payments through Visa, Mastercard, net banking, BNPL, and wallets- 2% per transaction.
For payments by Diners, American Express, EMI – 3% per transaction.
For international transactions – 3% per transaction.

E-commerce plugins- Merchants can use PayU plugins to accept payments on popular e-commerce platforms like Magento, Shopify, Tally, ZohoBooks, ZohoCRM, WooCommerce, WordPress.