Best Online Payment Gateways in India

Online Payment Gateways handle payments from customers on e-commerce websites or mobile apps. Given the increase in ecommerce transactions, payment gateways have started gaining a lot of traction and transactions in India.

There are multiple Payment gateways available for you to choose from including:

  • Axis Bank Payment gateway – the Axis Bank PG is powered by MasterCard and is available for both VISA and MasterCard transactions. For including Net banking options, Axis Bank has a tieup with 3rd party service providers like PayU
  • ICICI Bank Payment gateway – ICICI bank has been one of the early entrants into the payment gateways and has a substantial share of the market.
  • SBIePay – The payment gateway from State Bank of India is a new entrant but given its background, has managed to get some of the big transaction volume associations
  • PayUMoney
  • PayTM – The biggest wallet provider in India, PayTM also has an online payment gateway which is optimized for both websites and mobile-interfaces.
  • CCAvenues
  • EBS
  • InstaMojo – InstaMojo is not your typical online payment gateway. And is probably a great option if you do not wish to go through detailed integrations on your website. InstaMojo can help you go live under a day, by just authenticating your bank account and creating a payments page. In their case the transaction does NOT happen on the ecommerce providers website but on a specific payments page on the InstaMojo website. A special payment link is created which can be shared with customers for collecting payments. You do NOT need to enter into a detailed agreement with a typical PG provider.

SBI ePay – Payment gateway from SBI | Fees, Charges, Pricing

SBIePay is a payment gateway launched by State bank of India (SBI) in early 2014. The SBIePay marks a strong step by the country’s largest bank SBI to capture a bigger pie of the payments kitty, especially the online payments part of it. With the rapid rise of ecommerce in India, the online payments volume is exploding and this seems to be just the right move by SBI.

SBIePayThe Payment Gateway(PG) industry has so far been dominated by a few players like CCAvenues, Bill Desk, Citibank and ICICI bank. SBI’s SBIePay is an aggregator service which would allow online merchants to accept Credit cards, Debit cards, Net banking and mobile payments as payment instruments for transactions happening online. SBI also plans to addin Electronic Bill payments as part of this service and also make it available through an IVR process.

Features of SBI ePay

  • The SBIePay PG follows a T + 2 days settlement cycle
  • SBI ePay is highly secure & compliant with necessary certifications in place e.g. PCIDSS compliant with PCIDSS 2.0, protection by hardware firewalls including regular testing and audits.Supports 3DSecure – Verified by Visa and MasterCard Secure Code
  • High level of transactional security because of usage of SSL, server signature authentication etc
  • Approved merchants receive a merchant id on registration which is used to access online admin module. Multiple admin accounts can be mapped to the same merchant account
  • Detailed MIS and transaction reports are available for downloads from the merchant panel.
  • Merchant panel also allows easy refunds and cancellation of transactions.