How to choose a good payment gateway

As the number of the Internet users is growing and the e-commerce in India is expanding, plenty of payment gateways have appeared on the market. However, you need to know which factors are important and which things you should consider before choosing a payment gateway.

1. Payment Schedule

Before the money from a transaction is processed into your bank account, it may take two days, as well as even ten days. Thus, before you choose a payment gate, ask about the payment cycle.

2. Payment Options

Go for a payment gateway which offers various payment options as it will attract more customers. Debit cards, credit card and internet banking are of course a must, but check if it also operates more recent ideas such as Bitcoin or Mobile Wallets.

3. Payment Gateway Costs

It's worth checking how much you will be charged for every transaction and what the annual charge is. Some of the providers offer a free setup and other gratuitous options while others also offer some services for which you have to pay extra.

4. International and Domestic Transactions

If your e-commerce has an international reach, make sure that a payment gateway accepts foreign currencies too. Check also the charges as they are usually higher for international transactions.

5. User Interface

The interface of a payment gateway should be intuitive for both customer and merchant. It's important that all the services and options are clearly available. Additionally, check if a payment gateway offers plugins which are easy to update.

6. Customer Service

When it comes to payment gateways customer service is an extremely important factor. It needs to be efficient, responsive, and quick in case of some fraudulent actions.

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Comparison of The Best Payment Gateways in India

There are plenty of payment gateways in India, but let's have a closer look at the TOP 5. They are considered to be the most reliable providers of payment gateways in India when based on the parameters described in the previous section.

1. InstaMojo

InstaMojo has been providing its services since 2012 and has become one of the most favorite payment gateways in India, especially if you own a small business.

It's no wonder as it offers sensible fees with a free setup and no annual charge. The setup is quick, the interface is intuitive, and the customer service works on weekdays. It takes three days to process the money to your bank account. This payment gateway accepts credit and debit cards, wallets, net banking, UPI & EMI.

There are some drawbacks, though. InstaMojo doesn't serve international payments, the customer service is closed on the weekends and the mobile app integration is not available yet.

2. EBS

EBS is an Indian payment gateway, which offers a lot of useful options, but its greatest asset is that it has the highest security standards. In fact, it's considered to be one of the safest online payment providers in the world.

The setup charges, annual fees and charges for transactions vary depending on the plan you choose at first. EBS operates international payments and supports 11 foreign currencies. The payment cycle usually takes two or three days. The customer service can help you on weekdays. Mobile app integrates with Windows, iOS, and Android.

Quite high fees may be mentioned when it comes to drawbacks. Also, they have some features, such as Auto Pay, which some merchants may not like.

3. PayUbiz

PayUbiz is another payment gateway provider which seems to be reliable. The charges vary depending on the plan you choose and the value of transaction. There is also some fee for setup and an annual maintenance fee, but the prices are reasonable. The payment cycle requires two days to be accomplished. PayUbiz also offers mobile app integration with Android, Windows, and iOS.

PayUbiz, however, is a good option only for small businesses as it doesn't support international payments and it doesn't offer multi-currency. Also, the customer service often seems to be busy.

4. DirectPay

DirectPay is one of the largest payment gateways in India. It offers quite a few assets such as lack of the annual maintenance fee. The charge for transactions and some extra options vary. The payment schedule lasts three days.

DirectPay supports international payments or credit cards, but they are extra charged. It also supports US$ currency when you activate International Payment Gateway.

5. CCAvenue

A large payment gateway in India which offers plenty of payment options. It operates major credit cards such as Mastercard, Visa, Amex, or JCB. Moreover, it supports 27 world currencies and there is multilingual payment page, which makes it a great choice also for bigger businesses that offer global services.

The fees in CCAvenue are competitive and there is no charge for a setup. Other fees vary depending on the transactions. The customer service is quick and responsive. CCAvenue offers mobile app integration with Android, iOS, and Windows.

Other Payment Gateways Worth Considering

Zaapakpay is another payment gateway which is becoming more and more popular in India. They deal with online debit cards, credit cards, and internet banking transactions. Their annual fees and for transactions are negotiable.

One of the biggest payment gateway in india is G2A PAY. It also worth mentioning. It is a quite new online payment service in India, but it has already had a lot of positive opinions and it's becoming popular among smaller and larger businesses. It offers secure and fast online transactions for both customer and merchant thanks to G2A Wallet.

Atom Paynetz is another innovative online payment provider, which offers over 100 various payment options for domestic transactions.

Final Comments

The e-commerce in India is developing very quickly and when it comes to payment gateways you have now various possibilities to choose from. Different payment options, reliable support, and simple interface are important, but the most crucial factor should always be the security of money and data. Therefore, always choose a payment gateway which guarantees safety for both a merchant and a customer.

You don't have to stick to traditional payment gateways only. Be open also to some more fresh ideas, such as mobile wallets, which are getting more and more popular due to the fact that they are easy to use, and they offer the highest security standards in the world.

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