E-commerce has been growing in india at a very good pace, to compliment it our courier service and payment gateways are also growing at a steady pace. Here I am just putting forward some of the payment gateways, currently available in india, because most of the international payment gateways does not work in india.
A good example will be pay pal, Now everybody will be wondering that why did I mention paypal, because you are using pay pal in india for the past many years, yes you are right. Paypal does work in India, but only for international transactions, not for domestic transaction. That is you could receive payment from a customer in USA, but not from Mumbai. Then again the currency. In paypal you will have to bill your customer in USD and only when the payment is being transferred to your bank account its gets converted to INR. Which will be inconvenient for some industries. There are other limitations as well you could read more about it on www.paypal.com/in/. An alternative to paypal is 2checkout
After going through many of the payment gateways available in India, I have shortlisted some of them.
ccavenue / ebs / payzippy / payu
- All the above payment gateway supports indian and international credit cards and most of the banks as well.
- The payment gateway setup charge varies from zero for ccavenue to 29,900 for payu
- Per transaction rate also varied from 2.25% to 4%
- Most of them support EMI option as well.
- All of the above mentioned payment gateway setup requires a lot of paper work.
You could find the link to all the payment gateway pricing details on following link
If you don’t have the required documents or money to open the above mentioned payment gateways there are other 3rd party payment gateway providers in India, who support domestic payment transactions. One good example will be Payumoney.
