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Top 9 Payment Gateways in India

Discover the Top 9 Payment Gateways in India for 2025, carefully curated to help Indian merchants, startups, and high-risk businesses find the ideal payment partner. From Razorpay and Cashfree to PayU and CCAvenue, this guide dives deep into each gateway’s best features, risk support, integration ease, and industry relevance. We’ve excluded Stripe due to its limited access in India and focused on gateways with strong UPI, payouts, and multi-currency capabilities. Includes a full comparison table, expert use-case matching, and risk insights for high-risk verticals like NBFCs, edtech, and eCommerce.

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Top 9 Payment Gateways in India (2025 – Expert Picks)

Introduction: Why Choosing the Right Payment Gateway Is a Business Growth Decision

Choosing a payment gateway is not just a technical decision—it’s a growth strategy. Whether you’re scaling a SaaS platform or launching a D2C brand, the right gateway can reduce drop-offs, increase trust, and streamline your cash flow.

With India’s digital payment ecosystem expanding beyond Tier-1 cities into semi-urban and rural commerce, your gateway must offer not just coverage, but conversion-driven performance.

In this refined list of Top 9 Payment Gateways in India, we eliminate the noise and focus only on players who’ve consistently delivered on:

  • Transaction success rate
  • Risk and fraud management
  • High-risk merchant support
  • Smart features like UPI Autopay, payouts, BNPL, and split payments
  1. Razorpay

Still the gold standard for Indian startups, Razorpay continues to dominate with its RazorpayX suite, advanced analytics, and broad developer support. Its smart routing and UPI Autopay feature make it ideal for recurring payments and marketplaces.

Best For: SaaS, subscriptions, mid-risk merchants
Feature Highlight: Smart Collect for automatic reconciliations

  1. Cashfree Payments

Cashfree is now the go-to solution for marketplaces and platforms that need split settlements, bulk payouts, and international currency acceptance. The new Cashfree Elevate dashboard improves visibility over payouts and refunds.

Best For: Aggregators, BNPL models, loan apps
Feature Highlight: Instant refunds & payouts (24/7, including holidays)

  1. PayU India

Known for enterprise support and fraud defense, PayU’s advanced features are built for scale. With its FIS-backed risk engine, it’s favored by high-volume eCommerce giants and high-risk industries.

Best For: Travel, NBFCs, and regulated entities
Feature Highlight: Dynamic 3DS and tokenization support

  1. CCAvenue

While others focus on speed and automation, CCAvenue shines in global coverage, multi-currency acceptance, and compliance readiness. It’s often the gateway of choice for companies venturing into Gulf or SE Asia markets.

Best For: International businesses, exporters, hotels
Feature Highlight: Multilingual, multi-currency checkout page

  1. Instamojo

Instamojo owns the micro-merchant space in India. Freelancers, coaches, and DTC brands rely on its no-code store builder, link-based payments, and simplified dashboards.

Best For: Creators, freelancers, small retailers
Feature Highlight: InstaStore + payment links combo

  1. Paytm Payment Gateway

As India’s digital wallet pioneer, Paytm PG blends UPI dominance with wallet payments and QR code options. With its vast merchant base and growing rural reach, it’s a must-consider for mobile-heavy brands.

Best For: Retail, local commerce, recharge platforms
Feature Highlight: Deep Paytm Wallet + UPI integration

  1. Atom Paynetz

While not as flashy, Atom scores on uptime reliability and dispute handling—making it ideal for government payments, tax platforms, and high-risk yet regulated verticals like edtech or utilities.

Best For: Civic platforms, colleges, high-risk entities
Feature Highlight: Fraud mitigation tools and token vault

  1. BillDesk

BillDesk remains a stronghold for large-scale recurring payments—particularly in sectors like telecom, insurance, and electricity boards. With Bharat BillPay integration and RBI-recognized compliance, it’s built for trust and continuity.

Best For: Insurance, telecom, utilities
Feature Highlight: High-volume recurring debits with failover logic

  1. JusPay

JusPay is not a traditional gateway but rather a checkout optimization engine that sits atop other PGs to boost success rates, enable smart retries, and ensure tokenization for stored credentials.

Best For: Apps with high repeat transactions (e.g., Swiggy, Cred)
Feature Highlight: Hyper-personalized checkout experience

How This List Differs from the Top 10

You might be wondering—why isn’t Stripe on this list?

While Stripe is technically powerful, its limited access for Indian merchants and focus on international-first models makes it less relevant for the majority of Indian businesses in 2025.

Instead, this Top 9 list emphasizes:

  • Ground-level performance
  • Success in Indian regulatory landscape
  • Merchant-centric dashboards and support
  • Localized UPI & Bharat QR integrations

At a Glance: Comparison Table

Gateway Best Use-Case Risk Support UPI AutoPay Multi-Currency Instant Payout
Razorpay SaaS/Subscriptions Mid ✅ ✅ ✅
Cashfree BNPL/Marketplaces High ✅ ✅ ✅
PayU Enterprise High ✅ ✅ ❌
CCAvenue Global Expansion Mid ✅ ✅ ❌
Instamojo Small Sellers Low ❌ ✅ ❌
Paytm PG Mobile-First Retail Mid ✅ ❌ ✅
Atom Paynetz High-Risk/Govt High ✅ ❌ ✅
BillDesk Utilities/Insurance High ✅ ❌ ❌
JusPay Checkout Engine High ✅ ✅ ✅

Expert Tips for Indian Merchants in 2025

  • Startups: Razorpay or Cashfree for faster integration + RazorpayX for payouts.
  • D2C Brands: Consider Instamojo if you’re small, Razorpay or PayU if scaling.
  • NBFCs and Risk-Based Platforms: Cashfree or Atom with enhanced KYC flow.
  • Global Expansion: CCAvenue is still your safest bet in Indian compliance context.
  • Mobile-Only Apps: Paytm PG + JusPay hybrid is a killer combo.

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