Payment Gateway is the most crucial part of any small – medium – large scale online business these days. In India, after the Indian Govt’s push for taking the economy and majority of transactions online to bring-in transparency, we all need to know now how a payment gateway works, and who provides the best payment gateway in India for receiving online payments for your small or big business.
Best Payment Gateway For Small Business
1). CCAvenue
CCAvenue is one of the best payment gateways, available for all sizes of businesses.
It is free to use for the 1st year hence your customers will be paying 2.0% per transaction as TDR. Furthermore, after 1 year you will have to pay INR 1200/- per financial year as an annual maintenance charge.
It is easy to integrate with your apps and websites, it provides you several options like customizable checkout cart, where you can add your own logo and contact details so that the payment page looks like a part of your website itself.
Process of setting up and documentation takes around 4-7 days and you can start collecting payments online onwards.
Best for Sole Proprietors, Partnership firms, LLP as well as for Pvt Ltd.
2). Razorpay
It was started by some IITians, and no wonder they have always got their name in to the lime light due to their innovations in technology and ofcourse just because it was started by IITians again 😉
Previously their integration process was the most tedious task to perform, but with time they have improved in everything now.
Now you can collect payment on whatsapp, sms, email, QR, or literally through any method easily. And with these changes they have become my new favourite and pushed Instamojo in simplicity towards second spot now!
3). PayTM
PayTM has recently started its service of online payment gateway, but the best thing is it is easiest to integrate. They charge TDR of 1.99% per transaction.
You can even send and receive payments via PayTM app through just your mobile number.
Best for all sizes of businesses, most suitable for the small businesses.
4). PayuMoney
Part of PayuBiz, Payumoney is also easy to integrate payment gateway, whose support is undoubtedly excellent. You will get a dedicated account manager even after you signup with them.
There process is simple and integration is simplest. They have options of integration for all the carts and platforms.
Best for all business sizes.
5). Paypal
This American payment gateway provider is the most easy to use, easy to integrate in addition it is ready to start receiving and sending payments online worldwide, even in several currencies.
All you have to do is to signup with Paypal, fill up your business details in their form and add the bank account details.
After doing this you will receive 2 unique amounts between INR 1to INR 2 in your bank account with them. And you just have to enter those 2 amounts in the paypal dashboard to verify it’s your bank account.
And you are all set to receive payments online, that too in several currencies.
Best for small and medium scale Global Businesses.
6). Instamojo
Instamojo is not that big in the market but no doubt they have come up with the most easiest way to collect payment.
Moreover with Instamojo you can even collect payment by sending link through whatsapp, facebook, instagram or even emails.
It is the best payment gateway in India for small businesses for start collecting payments online since it requires no IT skill at all to setup.
Best for small and medium scale businesses.
How payment gateways work?
Payment gateways make you their submerchant hence letting you start receiving online payments by providing their secure website and IT infrastructure.
In return of which you have to either pay them per transaction amount or annual fixed charge or both.
Process Involved:
Drop your queries in the comment box and also let us know if you have find any other payment gateways better than these mentioned.
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