9 Shopify Payment Gateways In India You Should Try

Want to find Shopify payment gateways in India? According to Store Leads, there are 81,890 live Shopify stores in India. To maximize your success on this platform, it's essential to choose the right payment gateway.

This blog post will show 9 Shopify payment methods in India. It will focus on their main features, perks, and how well they work for different types of businesses.

What Is A Shopify Payment Gateway In India?

A Shopify payment gateway in India is a secure online platform that allows Indian businesses using Shopify to accept payments from their customers. It connects your online shop to credit, debit, net banking, UPI, and digital wallets.

9 Shopify Payment Gateways In India

1. PayPal

PayPal is a leading global payment platform, operating in over 200 countries. In 2014 alone, it processed an impressive 4 billion payments, including 1 billion mobile transactions. Today, PayPal is trusted by over 173 million consumers worldwide.

Ideal for Shopify businesses in India that primarily cater to international customers.

PayPal website.

While Indian businesses can't directly accept Indian credit cards through PayPal due to local regulations, it's a popular choice for collecting payments from overseas customers.

Outstanding features:

• Seamless international payments from customers around the globe.
• Multi-currency support base by offering payments in multiple currencies.
• No withdrawal fees to your local bank account.
• Daily settlements in your preferred currency.
• Start accepting payments almost immediately after registration.
• Mobile app integration for customers on iOS and Android devices.
• Integrate PayPal with the most popular eCommerce CMS systems.

Pricing:

• No annual fees.
• Transaction fees of 4.4% + $0.30 per transaction, plus currency conversion charges.

2. Razorpay

Razorpay is a comprehensive payment solution that empowers Indian businesses to accept, process, and disburse payments seamlessly. It accepts credit, debit, net banking, UPI, and major digital wallets.

It works well for companies of all kinds, from small start-ups to big corporations.

Outstanding features:

• Accept payments through various methods, catering to diverse customer preferences.
• Seamless integration Razorpay effortlessly into your online store, ensuring a smooth payment experience.
• Secure transactions using robust security measures to protect sensitive payment data.
• 24/7 support through chat and IVR support.
• Start accepting payments quickly, subject to document approval.
• Mobile app integration for mobile users with Android and iOS SDKs.
• Wide ecommerce compatibility like WooCommerce, Magento, Shopify, and more.

Razorpay feature.

Pricing: Benefit from competitive rates, starting at 2% per transaction. No annual charges to avoid recurring fees and maximize your profits.

Razorpay pricing.

3. PayU Money

PayU (previously PayU Money) is a reputable payment gateway in India, offering a range of features that make it suitable for various Shopify businesses. Its strengths are that it is easy to integrate, that it supports a lot of different payment methods, and that it has reasonable prices.

Idea for businesses of various sizes, from small startups to large enterprises.

Outstanding features:

• PayU's simple sign-up process and minimal development requirements make it an attractive option for businesses looking to quickly integrate a payment gateway into their Shopify store.
• PayU supports international payments, making it a suitable choice for businesses dealing with customers from different countries.
• PayU accepts credit, debit, net banking, UPI, and digital wallets. This helps firms meet varied client preferences and boost conversions.

PayU Money payment gateway dashboard.

Pricing:

• No annual charges. PayU's transaction-based pricing eliminates the need for annual maintenance fees, helping businesses maximize their profits.
• Transaction fee: Each transaction costs 2% + GST. American Express and Diners Cards charge 3% + GST for offshore transactions. EMI payment options need a set-up fee and Annual Maintenance Charges. Additionally, transaction fees are 3% + ₹6 every transaction.

4. CCAvenue

CCAvenue is one of the best Indian payment gateways because it lets you easily accept a lot of different types of payments. CCAvenue can handle deals both in and out of the country because it accepts over 200 payment ways and 27 major currencies.

Idea for businesses serving both domestic and international customers.

Outstanding features:

• Diverse payment options through credit cards, debit cards, net banking, UPI, and digital wallets.
• Global reach in multiple currencies, serving customers worldwide.
• Multilingual support with a multilingual payment page.
• 24/7 Support through voice, chat, and email.
• Mobile app integration for mobile users.
• Integrate CCAvenue with popular platforms like Magento, WooCommerce, and more.

CCAvenue feature.

Pricing:

• No setup fees. Start using CCAvenue without any upfront costs.
• Annual maintenance fee. A nominal fee of Rs. 1200 is applicable.
• Transaction fees: Domestic Visa, Mastercard, Maestro, and RuPay credit and debit cards: 2% flat fee; wallets (Freecharge, Mobikwik, OlaMoney, Jiomoney, Paytm, PayZapp, Jana Cash, SBI Buddy, and The Mobile Wallet): 2% flat fee IMPS and UPI: 2% fixed fee; MasterCard, Visa, American Express, JCB, and Diners Club International: 3% fixed fee; Since taxes are periodic, they are extra.

5. Cashfree

People in India know Cashfree as a well-known way to pay. It has the most ways to pay, like debit and credit cards, 75+ Netbanking options, Paytm, and six big mobile wallets like Freecharge, Airtel, and Mobikwik.

Cashfree dashboard.

They also offer the most PayLater and cardless EMI options, such as ZestMoney, OlaMoney prepaid, and others. You can pay with UPI, NEFT, IMPS, and PayPal at Cashfree.

Cashfree also has a feature called "Instant Settlements" that lets businesses get their money within 15 minutes of being paid.

Idea for businesses targeting both domestic and international customers.

Outstanding features:

• Domestic credit cards and online banking choices such as Visa, Mastercard, Maestro, RuPay, and more than 75 online banks
• Flexible payment plans offer subscription payments and recurring billing options for recurring services.
• Global reach using PayPal integration.
• Competitive pricing of India's lowest transaction rates at just 1.75% per transaction, with no additional fees.
• Fast settlements, ranging from 24 to 48 hours, with the option for instant settlements.
• User-friendly dashboard to manage orders, collect payments, and track transactions efficiently.
• Integrate Cashfree with popular platforms like Shopify, WooCommerce, Magento, and OpenCart.
• Mobile app integration for mobile users with support for various SDKs.
• Get personalized assistance from your dedicated account manager and live chat support.

Pricing:

• No hidden fees.
• Transaction fee: Visa, Mastercard, Maestro, RuPay, and 75+ online banking: 1.95 percent flat charge + Rs 0 per transaction; Wallets: Paytm, Airtel Money, Freecharge, Mobikwik, Ola Money, Jiomoney; UPI: 2.15% percent flat charge + Rs 0 per transaction.

This is the lowest TDR rate in India.

Cashfree payment gateway pricing.

6. InstaMojo

New businesses can quickly set up a merchant account with Instamojo Payment Gateway so they can accept online payments, even if they don't have a website. The fees for InstaMojo are very low.

Ideal for startups and small businesses.

Outstanding features:

• Get started quickly with a simple registration process.
• Accept payments from Indian customers using popular methods like credit cards, debit cards, net banking, UPI, and digital wallets.
• Fast settlements within three business days.
• Mobile app integration for a seamless payment experience.
• Works with popular platforms like Magento, Prestashop, OpenCart, and more.

InstaMojo payment gateway dashboard.

Pricing:

• No annual fees.
• Transaction Fees: Pay a flat fee of 2% + Rs 3 per transaction.

7. Atom Paynetz

Atom Paynetz, a forward-thinking payment service provider backed by the FT Group, offers a comprehensive range of payment options and a proven track record with over 15 million transactions and 4500+ merchants.

Ideal for Indian Shopify businesses seeking a diverse range of payment options and competitive pricing.

Outstanding features:

• Diverse payment options, including Visa, Mastercard, AMEX, Diners, JCB, and Discover.
• No withdrawal fees.
• Mobile app integration into your Android mobile app for a seamless payment experience.
• Works seamlessly with popular platforms like Shopify, Magento, WooCommerce, and Prestashop.

Pricing:

• Free first year.
• An annual maintenance fee of Rs 2400 applies from the second year onwards.
• Transaction fees: 2.1% for credit cards and 0.75% for debit cards for transactions less than Rs 2000. For transactions more than Rs 2000, the fee is 1% for debit cards.

8. PayKun Payment Gateway

Payment platform service providers like PayKun make it possible for buyers and sellers to make safe and secure transactions. A lot of happy traders have joined PayKun and are still using it today. With PayKun's help, their businesses have grown.

Ideal for:

• Businesses of all sizes.
• E-commerce stores.
• Individuals and NGOs: Accept donations or payments for services.

Outstanding features:

• Payment methods include credit, debit, net banking, UPI, and digital wallets.
• Get started quickly with a simple registration process.
• Fast settlements within T+1 to T+3 business days, depending on your business model and payment mode.
• Easy integration seamlessly into your website or mobile app.

Pricing:

• No hidden fees.
• Transaction Fee: Pay a flat rate of 1.75% per transaction.

9. PayTM Payment Gateway

PayTM is now India's most popular payment service, with a lot of different ways to pay and a large user base. It's a good choice for many companies because it's popular with customers and works with the PayTM Cash app.

Ideal for:

• Small eCommerce Businesses with a large user base in India increase the likelihood of your customers having Paytm accounts.
• Businesses seeking an all-in-one platform, including bill payments, mobile recharge, and more.
• Startup businesses because they have startup-friendly pricing. PayTM offers zero transaction fees for startups under its "Build for India" offer.

Outstanding features:

• International payments in over 72 currencies, catering to a global customer base.
• Fast settlements, typically within 1-2 days.
• Real-time settlements option for immediate funds availability.
• No withdrawal fees.
• Mobile app integration.

PayTM feature.

Pricing:

• Setup fee. A one-time fee of Rs. 5000 applies.
• An annual maintenance fee of Rs. 5000 is charged.
• Transaction Fees: 1.99% for credit cards, Paytm wallets, and net banking. This offer lets you pay with debit cards (Mastercard and Visa) for as little as 0.4% of the transaction amount and as much as 0.9% of the transaction amount. It doesn't charge any fees for Rupay cards or UPI, but it does charge 2.8% for foreign credit and debit cards. All startups don't have to pay any transaction fees.

Tips For Choosing The Right Payment Gateways In India

Here are some helpful tips that will help you choose the payment method that fits your business goals and your target audience. Make sure that your customers have a smooth payment experience.

Payment Alternatives On Shopify India

In order to satisfy your consumers' preferences, it is essential to provide a range of payment alternatives while running an online business in India. The following are a few of the most often-used domestic payment options:

• Internet banking: A convenient option for many Indian customers.
• Credit Cards: Visa, Mastercard, and RuPay are widely accepted.
• UPI: A popular mobile-based payment system.
• Mobile wallets: Paytm, Amazon Pay, and Ola Money are leading options.

Cash on Delivery (COD):

In India, COD is still a widely used payment option, making up a significant percentage of internet purchases. Offering COD may greatly expand your consumer base, particularly for first-time purchasers, even if it might not be your company's preferred way.

Shopify's advanced COD app:

To enhance the COD experience, Shopify India has launched the Advanced COD app, allowing you to create a personalized buying journey for customers choosing this payment option.

Handling Cash on Delivery Refunds:

Refunding COD payments can be a complex process. Many e-commerce businesses face challenges in gathering payment information and coordinating with their finance teams. In the following sections, we'll discuss effective refund handling strategies.

EMI and Pay Later Options:

To boost conversions for high-value transactions, consider offering EMI and Pay Later options. Banks often provide EMI credit on credit cards, while independent companies like ZestMoney and Flexmoney offer cardless financing.

For smaller transactions, Buy Now, Pay Later options through ePayLater or Ola Money Postpaid can provide a quick and seamless checkout experience.

Read more: How to activate Shopify Pay Installments?

International Business Transactions

For Indian businesses looking to serve customers outside of India or those who use international cards, accepting international payments is essential for maximizing sales potential.

Adding foreign payment methods can be hard and take a lot of time, especially for smaller businesses. But it's an important step to take if you want to reach more people. Giving your customers a number of foreign payment choices can make their experience much better and help you make more sales.

That's why we recommend you choose PayPal if you have global reach goals.

Here are some tips for you: Prioritizing foreign currency support. Customers from outside India will appreciate the convenience of paying in their local currency. Ensure your chosen payment gateway supports a wide range of foreign currencies to avoid additional costs for your customers and streamline the checkout process.

Payment Settlement Time On Shopify India

This process usually takes between two and four business days at the bank. There are wait times when banks are closed on weekends and other bank holidays.

If the payout cycle is longer, your money will be stuck with middlemen like banks and payment method providers for a longer time. This will make your funds less available.

So, you should pick a payment provider that has a faster payout time.

Cashfree payment gateway has an option for instant settlements.

Getting Refunds Ready

Refunds often take 5-7 business days or longer, especially for cash-on-delivery (COD) orders where additional steps are required to obtain payment information.

In 9 Shopify payment gateways in India, we recommend Cashfree. Unlike traditional payment gateways, Cashfree offers Payouts, a feature that enables immediate, automatic money disbursement. This simplifies the refund process and ensures faster refunds for customers.

Transaction Success Rate

Payment failures can have a detrimental impact on your online business, leading to lost sales, frustrated customers, and damage to your brand reputation. One of the most common reasons for payment failures is issues with the payment gateway or bank.

More advanced payment processors use dynamic routes to lower the chance of payment problems. This technology smartly checks the success rate of payments and sends them to different channels if needed.

Cashfree's complex algorithm constantly checks the success rate of payments and spots possible problems like gateway downtime or bank servers that are too busy. When a drop is found, Cashfree instantly sends the transaction through a different channel. This keeps the service going and increases the exchange rate.

Pricing For Shopify Payment Gateway

Along with the fees that payment gateways charge, Shopify charges a transaction fee that can be anywhere from 0.5% to 2%, based on the plan you choose.

Read more: Everything you need to know about Shopify pricing plans.

So, when choosing a payment gateway for your Shopify store, it's essential to consider the associated fees carefully. Here's a breakdown of the typical costs involved:

• Annual maintenance charges (AMCs) fees cover the ongoing maintenance and operation of the payment gateway. Many modern payment gateways waive AMCs to attract new merchants.
• Set-up costs. There may be a one-time startup fee that some payment platforms charge to cover the costs of getting your business set up. But a lot of them don't charge this fee, so the hiring process will go more smoothly.
• Transaction fees. These are the primary fees charged for each transaction processed through the payment gateway. Transaction fees can vary based on the payment method used. For example, using net banking might have lower fees compared to using foreign cards.

Shopify India Transaction Analytics

As your business grows, you need to be able to view detailed payment data in order to make smart choices and run your business more efficiently. A strong payment platform can tell you a lot about your payment patterns and how well your business is doing.

For example, Cashfree's analytics allow you to delve deeper into your data by grouping it by hours, days, weeks, or months. This flexibility empowers you to identify trends, analyze seasonal patterns, and measure the impact of marketing campaigns.

Cashfree's analytics feature.

FAQs

Can I Use Shopify Payments In India?

No, Shopify Payments is not available in India. This means you will need to use a third-party payment processor, which we list on this blog, to accept credit cards in your store.

Can I Use Stripe In India?

Basically, yes. Stripe can be used in India, but only for registered businesses such as Companies, LLPs, or Sole Proprietorships.

As of May 2024, Stripe services will be invite-only in India, meaning new accounts require a request for an invite to use Stripe.

Which Payment Gateway Is Best For Shopify India?

It is Razorpay that we recommend. It has several features that are specially made to satisfy the demands of the Indian market.

While other payment gateways like Cashfree offer competitive features, Razorpay's comprehensive offering and strong market position make it the preferred choice for many Shopify merchants in India.

Key Takeaway

Choose the best payment service for your Shopify business in India if you want it to do well. You can pick a payment method that works for your business and makes it easy for your customers to pay if you think about your needs, the people you want to buy from you, and your budget.

For more in-depth information and expert advice on Shopify payment gateways, visit our blog to explore additional resources and articles.