Payment Gateway Options for Indian Businesses

~ 6 min read | July 30

Payment Gateway Options - India

As a fast-growing business, you need to build a sustainable business model, crack the ideal product-market fit, and craft effective go-to-market strategies.

With a booming digital economy, your customers aren’t limited to a single geography and the entire world is your playground. That’s where payment gateways come in, to enable your business to seamlessly collect payments from within as well as outside India.

What is a Payment Gateway?

A payment gateway is a connection between a merchant’s website or mobile app and the bank. When a customer makes payments through a payment gateway, the merchant’s website or mobile app sends the details of their debit card/credit card or bank account to the gateway. Once the payment gateway verifies these details from the bank, the amount gets transferred from the customer’s bank account to the merchant’s bank account.

The access to a market is defined by the ability to collect online payments from customers in a particular geography. This is more pronounced in the context of SaaS applications and other web-based offerings.

For SaaS companies, there are several payment gateways you can use to charge customers on a recurring basis. If you are a company registered in India, the Reserve Bank of India (RBI) eased the mandates on two-factor-verifications for low-value recurring payments using payment methods like cards, net banking, and wallets. This has paved the way for many payment gateways in India to support recurring billing.

If you are a business that is incorporated in the US, you will need a bank account in the USA. You could get a merchant account separately from any merchant bank or go with the merchant account provider suggested by your chosen payment gateway.

Choose a payment gateway that’s most convenient for your customers and the geography they are in. This will pave the way for the easy adoption of your products/services.

Payment Gateways for Customers in the US 

Stripe

Stripe is a payment gateway that supports 130+ currencies and it also offers customizable APIs that facilitate an easy transaction workflow for the customers. Stripe is one of the preferred payment partners at Chargebee and supports subscription billing for scaling SaaS businesses. Check out how Stripe + Chargebee can help you increase your revenue streams, help you experiment, and bring in flexibility in recurring billing.

Checkout.com

Checkout.com offers 20 payment methods and supports 159 currencies. Checkout.com is one of the fastest-growing payment processors with competitive rates and increased approvals. It is also one of the preferred payment gateways for Chargebee. The Chargebee + Checkout.com integration enables card payments for merchants in North America and Europe.

PayPal

Paypal is a global payment gateway service. PayPal is secure, has the flexibility to set multiple accounts and cards, and has no additional fees like membership fees. That makes it a popular option for customers in the US and EU. PayPal is available in 200 countries.

BrainTree Payments

BrainTree Payments offers a bundled solution with payment gateway, merchant account (via partners) and a recurring billing solution. However, an additional 1% fee applies to transactions presented in any non-USD currency and when the customer’s card is issued outside of the United States.

Amazon Pay, 2Checkout, Authorize.net are also some of the other options you could consider. Here’s a comprehensive list of payment gateways you can use in the US.

Payment Gateways for Customers in the UK and Europe

GoCardless

GoCardless is a UK based payment gateway that allows you to accept direct debit payments from customers in the UK, Eurozone, Australia, and Sweden. Chargebee’s integration with GoCardless enables you to process payments from Europe that are compliant with the geography’s regulations, such as BACS (UK), SEPA (Eurozone), BECS (Australia) and Autogiro (Sweden).

Adyen

If you have customers in Europe, Adyen is a good payment gateway option for you. Customers in Europe prefer to pay using bank-based payment methods that work directly with their bank accounts. So the more local payment methods you add, the more markets you can expand to

With the Chargebee and Adyen partnership, you can accept payments through iDEAL, Sofort, and Bancontact. Expand your reach to customers in Germany, Austria, Switzerland, Sweden, Belgium, Netherlands, and many more countries across the EU. You can also convert one-time bank payments into recurring payments using SEPA.

Head here to find out the payment gateways in the UK and Europe that are supported by Chargebee

Payment Gateways for Indian Customers

If you’re an Indian subscription business, Chargebee’s integration with Stripe India allows you to accept payments from domestic and international markets. But here’s a list of some of the largest payment gateways in India 

CCAvenue

CCAvenue is one of the biggest payment gateways in India with multi-currency support including 27 currencies. CCAvenue processes international credit cards, debit cards, net banking, wallets, and EMI transactions too. It supports domestic as well as international cards like MasterCard, Visa, JCB, Amex, Diners Club.

RazorPay

RazorPay allows businesses to accept, process, and disburse payments using its product suite, and support payment options such as credit card/debit card, net banking, UPI, and EMI. RazorPay recurring payments allow merchants to collect recurring payments in India as well as outside India, with added transaction fees. The standard fees for an international transaction is 3%, with an additional 18% GST on all transactions.

PayU

PayU supports multi-currency transactions with international cards and has an easy integration process. PayU gateway is claimed to be used by 60% of leading eCommerce businesses and airlines. Both CCAvenue and PayU support mobile technology and can be used easily on Android and iOS phones with one-tap online payments.

Paytm

Paytm enables merchants to collect recurring payments by skipping the re-purchase flow. This allows customers to make periodic payments for services they consume on an ongoing or recurring basis. While we are talking about PayTM, let’s talk a little deeper about Unified Payments Interface (UPI). According to the recent update by RBI, the recurring payments feature is now extended to UPI. This presents an elegant payment option for merchants and customers alike.

In another post, we have explored the Payment Security Options for SaaS companies, including PCI DSS Compliance. Also, here’s why using Vault (or CIM as referred by some gateways) is very important.

Choosing a payment gateway that suits your business needs deserves a lot of attention since they play an integral part in bringing in the moolah. So we have come up with this comprehensive gateway evaluator tool to help you make the right choice.

Like the Blog?

Nupura Ughade

Of the House Slytherin, First of Her Name, Content Marketer @ Chargebee, and an Admirer of All Things Nerdy