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Comparison between Indian Payment Gateways

January 16 2014 Admin e-Commerce

When a retailer goes online, the first thing he/she worries about is the transaction of the payments. As making and receiving payments is not exactly in real time like in offline scenario, the need to make these transactions safe and secure becomes the prime need for an ecommerce venture. Here comes the role of the payments gateways. In this post, we’ll be reviewing top 10 online payment gateways in india..
Thus, while selecting any one of these, one must keep in mind two important criteria’s that is, Innovation and Efficiency. Other factors such as response of the Payment Gateway during and after the integration, readiness to integrate with leading shopping carts with ease, etc. also forms a critical support factor the upcoming retail merchants must look for.

1. CCAvenue:

    CAvenue, founded in 2001, is one of the largest Payment Gateway in India today and currently powers more than 85% of the e-commerce merchants in the country
  • Payment Options for gateway.

Credit Cards

Mastercard , Visa
Diners, AMEX,
JCB

Cash Cards

iCash,Done,
ITZ, Paycash,
noQ, Oxicash

Debit Cards

Visa,  Matercard, Maestro, Rupay (50  banks)

Mobile Payment

Payment,
SBI freedom

Netbanking

45 +banks

EMI’s

N/A

  • Package Details:

Setup Fees

0 – 40,000

Maximum TDR(for all transaction range)

5.50%

Annual Maintenance Cost

1200-3600

  • Lowest TDR (for all transaction range)

Credit Cards

2.5%(expect AMEX and JCB)

Net banking

2.50%

Debit cards

1.25%

Cash Cards

3.6%(same for AMEX and JCB)

  • Additional Features

Customer Support

24/7

Risk Management System

YES

Ease of integration

YES

Multi currency support

YES

SMS/Email alert

YES

IVRS

YES

Shopping cart Support

YES

Pre integrations with leading eCommerce  SaaS players

Free shopping cart and free plugging for major 3rd party shopping cards

Top 5 Client using this Gateway

Cannot be disclosed (company policy)

Payment settlement cycle

T+2

 

2. Citrus:

 Backed by Sequoia Capital, this payment gateway offers some really unique features such as Single click checkout, In-App purchases, etc. at a zero setup cost and quite low TDR charges.

  • Payment Options for gateway.

Credit Cards

Mastercard, visa diners,AMEX, JCB

Cash Cards

N/A

Debit Cards

Mastercard, Maestro,
Rupay or number of banks(30+)

Mobile Payment

N/A

Netbanking

30+ banks

EMI’s

Supported with banks
such as HDFC ,Axis, ICICI

  • Package Details :

Setup Fees

Zero

Maximum TDR(for all transaction range)

2.75%

Annual Maintenance Cost

Zero

  • Lowest TDR (for all transaction range)

Credit Cards

2.0%

Net banking

1.60%

Debit cards

1.0%

Cash Cards

0

  • Additional Features

Customer Support

8AM to 8PM
(Monday to Saturday)

Risk Management
System

YES

Ease of integration

YES

Multi currency support

YES

SMS/Email alert

YES

IVRS

N/A

Shopping cart Support

YES

Pre integrations
with leading
eCommerce  SaaS
players

Very Few

Top 5 Client
using this Gateway

Sun DTH, Airtel,
Redbus, Tata AIA, insurance,
indigo Airlines

Payment settlement
cycle

T+2

 

3.DirecPay:
A TimesofMoney Service, DirecPay apart from offering a wide range of affordable payment options, also gives an assurance of T+2 settlement cycle.

  • Payment Options for gateway.

Credit Cards

Mastercard, Visa,
Diners,AMEX,
JCB,Maestro

Cash Cards

 ITZ cash

Debit Cards

Visa, Mastercard,
Maestro, Rupay,
IMPS and more
than 50 banks

Mobile Payment

Paymate

Netbanking

40 + banks

EMI’s

Supported with
8+ banks such
as HDFC, ICICI,
CITI bank

  • Package Details :

Setup Fees

0-30,000

Maximum TDR(for all transaction range)

5.00%

Annual Maintenance Cost

INR 2400

  • Lowest TDR (for all transaction range)

Credit Cards

2.00%

Net banking

2%

Debit cards

1.25%

Cash Cards

N/A

  • Additional Features

Customer Support

24/7

Risk Management System

YES

Ease of integration

YES

Multi currency support

NO

SMS/Email alert

YES

IVRS

YES

Shopping cart
Support

YES

Pre integrations with leading eCommerce  SaaS players

Mostly

Top 5 Client using this Gateway

Cannot be disclosed (Company Policy)

Payment settlement cycle

T+2

4. EBS:

One of the most secured online payment service providers, EBS deploys its own fraud management solution.

  • Payment Options for gateway.

Credit Cards

Mastercard,Visa
Diners, AMEX, JCB
Maestro

Cash Cards

iCash, ITZ,
Paycash, Done

Debit Cards

Visa, MasterCard,
Maestro(50 + )

Mobile Payment

N/A

Net banking

30 + banks

EMI’s

Supported with Citibank ICICI
and HDFC

  • Package Details :

Setup Fees

12,000 – 30,000

Maximum TDR (for all transaction range)

5% (for AMEX , JCB and Diners) 3% for others

Annual Maintenance Cost

Vary according to
the plan

  • Lowest TDR (for all transaction range)

Credit Cards

2.25%

Net banking

2.25%

Debit cards

1.25%

Cash Cards

3.0%

  • Additional Features

Customer Support

24/7  for priority
merchants

Risk Management System

YES

Ease of integration

YES

Multi currency support

YES

SMS/Email alert

YES

IVRS

YES

Shopping cart Support

YES

Pre integrations with leading eCommerce  SaaS players

Mostly

Top 5 Client using this Gateway

Bigbasket.com,babyoye.com healthkart.com, ISKON temple

Payment settlement cycle

T+2

 5. Paypal:

In India, Paypal is being used widely for cross border transactions due to its simple and transparent pricing and easy currency conversion facility. It provides basically three selling options Web, Invoice or Mobile. It accepts only Paypal and some major credit cards such as Mastercard, Visa and Discover. As Paypal is an international service, its difficult to compare its pricing options with those of Indian origin.

6. PayU:
With a high conversion rate of 12%, multiple payment options and 24×7 customer service, PayU claims to Go Live fastest at a much affordable pricing. The site offers features such as 1 Click checkout, iFrame solution for secure collection of card data, Payment analytics, IVR payments and Email Invoicing.

  • Payment Options for gateway.

Credit Cards

Visa, Mastercard,
Diners, American Express Credit card

Cash Cards

ITZ, airtel money, YPayCash

Debit Cards

Visa, Mastercard,
Maestro

Mobile Payment

N/A

Netbanking

33 + banks

EMI’s

Supported by banks like HDFC, Citibank, Axis etc

  • Package Details :

Setup Fees

6,000 - 36000

Maximum TDR(for all transaction range)

4.90%

Annual Maintenance Cost

INR 2400 for all plans

  • Lowest TDR (for all transaction range)

Credit Cards

2.75%

Net banking

2.25%

Debit cards

0.75 %

Cash Cards

3.00 %

  • Additional Features

Customer Support

8.30 Am to 7.00 PM (Monday to Friday )

Risk Management System

YES

Ease of integration

YES

Multi currency support

YES

SMS/Email alert

YES

IVRS

YES

Shopping cart Support

YES

Pre integrations with leading eCommerce  SaaS players

Mostly

Top 5 Client using this Gateway

Jabong, Snapdeal,Bookmyshow, Haryana Urban Development, Authority,Goibibo

Payment settlement cycle

T+1 / T+2



7. Atom :

A Financial Technologies Group Enterprise, Atom technologies offer 360o payment facilities over Internet through Atom Paynetz, IVR, Mobile Applications, Atom wallet Service and POS, with over 100 payment options.

  • Payment Options for Atom Payment gateway.

Credit Cards

Visa, Master
AMEX, Diners,
JCB, Discover

Cash Cards

N/A

Debit Cards

All Issuers

Mobile Payment

Atom Bazaar for SmartPhone users and
Atomapp for iPhone users

Net banking

40+Banks

EMI’s

Supported with 9+banks

  • Package Details :

Setup Fees

No info

Maximum TDR(for all transaction range)

No info

Annual Maintenance Cost

No info

  • Lowest TDR (for all transaction range)

Credit Cards

No info

Net banking

No info

Debit cards

No info

Cash Cards

No info

  • Additional Features

Customer Support

YES

Risk Management System

YES

Ease of integration

YES

Multi currency support

No info

SMS/Email alert

YES

IVRS

YES

Shopping cart Support

No info

Pre integrations with leading eCommerce  SaaS players

No info

Top 5 Client using this Gateway

Quiker, Tata Sky, BSNL, Zovi, MTNL

Payment settlement cycle

No info

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