As a trusted webhost for SMEs to large businesses in India, we keep getting queries from our clients on the payment gateway service which they can use on their website. A payment gateway is typically a third party provider which allows you to accept credit card transactions through your website, which they than route on to the acquiring Bank for an approval or denial of the transaction. Payment gateway services are gaining in popularity in India as they are required for online sales. Without much ado, here is my list of the most relevant payment gateways in India and their offerings:
1. CCAvenue – www.ccavenue.com
CCavenue is probably the most popular payment gateway service provider in India. It has an option for you to either process and accept payments in USD or accept payments in INR. If you are considering to accept payments in USD and have the funds remitted to your account in INR, a USD account might be more suitable. However, if your transactions would mostly be in INR, the INR payment gateway would possibly be the recommend option.
Pros: Established payment gateway provider, efficient services, prompt payment disbursal, feature rich control panel.
Cons: The website frontend and merchant area could be updated. The setup fees and transaction charges are a bit steep and getting online support doesn’t always work.
2. ABCPayments.com – www.abcpayments.com
ABCpayments.com (a division of IndiaMART InterMESH Limited) is an e-payments solution provider and is based in New Delhi. Their website looks a bit dated and they don’t have an online merchant registration form, which leads me to believe that they might not be pursuing this business aggressively.
However, they have quite a few clients opting for their services and they can be contacted through their online feedback form to get more details:
Cons: Website lacks content and is unimpressive. No signup form for new clients. No login form for members.
3. ICICI Payseal – www.ICICIBank.com
Payseal, the payment gateway service from ICICI Bank enables organisations to accept secure online Credit Cards payments over the Internet. They have been around for quite some time and as this service is provided by ICICI Bank, which is the largest private sector Bank in India, you can be assured that they will be in good standing and would continue to improve their online payment gateway services.
The Payseal payment integration scripts are in JSP, so you require a proficient webmaster to help integrate this payment service on your website as it requires Tomcat web server to execute the JSP scripts. Some of our clients have been using this service for quite a while and are overall happy with their services. The pricing for their service varies on the business volume which you can provide to them but it would be safe to assume that they will charge you a one time payment gateway integration of about Rs. 25000 and about 5% as transaction fees.
Pros: Service offered by a leading Indian Bank, secure integration, regular payment disbursal, technical support.
Cons: Support might not be as efficient as a dedicated payment gateway service provider, integration process is somewhat complicated, setup charges are quite high.
4. HDFC Bank – www.HDFCBank.com
HDFC Bank has recently launched its payment gateway service for B2C transactions. Though, not much is known about its services, it should be similar in pricing and features to ICICI Bank and they will probably be a little more competitive in their offerings as they are new in this business.
As HDFC Bank, is amongst the most tech savvy and proficient Banks in India, you can expect them to provide a world class payment gateway service to their clients.
5. E-Billing Solutions – www.ebs.in
E-Billing Solutions (EBS) looks like a leading provider of payment gateway services and its website and presentation is by far the most impressive and comprehensive in comparison with all the other payment gateway providers in India.
They are based in Mumbai and have offices in Chennai and Hyderabad so if you are in any of these three cities, getting prompt support should be that much easier. They seem to be serving quite a few clients and their pricing is also very competitive when you compare it with the other payment providers in India.
Pros: Professional website with multiple options for support (email, chat, phone), online signup, competitive pricing plans, online control panel for merchants.
Cons: Relatively new provider, No mention of USD transactions on their website.
6. Paysignet – www.paysignet.com
Paysignet e-Transactions Pvt. Ltd. seems to be a relatively new but looks like a promising provider. What concerns me however, is that they don’t have a physical office address mentioned on their contact us page and they don’t have a team page with a list of their key personnel. Personally, I like to know the physical location and a little bit more about the management team before I can trust a provider and its services. Having said that, I am hopeful that they will make the required updates and come up with a better presence in the days ahead.
Pros: Promising services, online control panel, PCI compliant, ISO 9001 certified, Net Banking integration.
Cons: Physical office location is NA, Pricing information is not transparent, New provider in the online payment processing industry.
Transecute – www.transecute.com
Probably amongst most technologically advanced and secure payment gateway provider in India, Transecute is currently not giving out any new account and is currently quite content with the clients which they have. Hopefully, once they are back in action, they will give most providers a run for their money.