5 Best Payment Gateway Providers to Choose by Start-Ups in 2021

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5 Best Payment Gateway Providers to Choose by Start-Ups

During these last two years of the pandemic, most existing businesses have shifted to online and start-ups are also planning to establish their brand online by making an innovative and attractive website that will lure online visitors towards their online portal. Besides the websites, selling through Live telecasts and posts on various social media have also increased the chance for the start-ups to extend their channels and reach. But, between all these, it is very important to have a payment method that will make the transaction much more feasible.

Nowadays, people are doing online transactions to buy items or avail services online via the help of payment gateways. These payment gateways are the backbone behind an online shop and how the seller relates with the buyer.

Without any doubt, payment gateways are the easiest ways to collect online payments via the app or through the website. Nowadays, people are not just using debit or credit cards; they also use payment methods like cash wallets, UPI and net banking. With the ease of these payment gateways, you will need a computer, a smartphone, and you can start your transactions. This article will highlight the top most popular payment gateways that the start-ups can pick in 2021.

The Working of the Payment Gateways-

The payment gateways focused on making online payments hassle-free and secure. It protects the sensitive information entered by the user. Here how these gateways work-

● When customers decide to buy a product, they press the ‘proceed to payment option or any other similar button. This moves to the next process.
● After this particular step, the payment gateway option arrives, where the customer has to enter the information like the CVV, card number, UPI id and so on. Once the relevant information is placed, the new page opens for the secured transaction.
● After the payment gateway receives a positive notification on the mode of transaction, the transaction is successful. In case any wrong information is given, the payment gateway generally shows an error.
● As the payment gets completed, the customer gets the confirmation notification.

Top 5 Payment Gateways to Choose

  1. RazorPay

One of the most reputed payment gateways is the Razorpay gateway. The feature that sets apart from the rest of the gateways is that setting up the system and integration of the business is effortless. Within a short period, you can easily set up this gateway and start transactions. It is one of the most impressive gateway services in India. Till now, it has helped more than 5,000,000 businesses to fulfil their business needs. If you are starting your business and want to make the transaction smooth and error-free, you can easily opt for Razorpay.

Features of Razorpay-

● Allow all types of payments, including debit and credit card payments, modern e-wallets and the UPI.
● It is very easy to manage and has everything in one place, like automatic bank transfers, sharing invoices, collecting recurring payments, and more.
● Has around $1 billion valuations in the year 2021

  1. PayU India

It is one of the fastest and straightforward payment merchant service providers designed for Indian businesses. It accepts more than 250 local payment methods and supports the one-click buy now option that makes the checkout times on the website faster than ever. So if you are looking for a simple, standard and straightforward payment option for your start-up business, PayU India is the best choice to choose.

The Features of PayU India

● All domestic credit cards are supported
● Has international payments and credit card payment support
● Has no withdrawal fee
● It supports the multi-currencies
● The settlement day is around T+2 days

  1. PayKun

If you are looking for the most trusted and hassle-free payment gateway providers in India, you can rely on PayKun. This payment gateway comes up with various services and features that make Indian businesses work seamlessly. You have a website or sell the products on social platforms; you can easily make your transactions via PayKun. This payment gateway comes with the Dashboard where you can also check the daily, weekly, and monthly transactions.

Features of PayKun

● It comes with a payment button that can be placed on the website so that the customers can click and pay
● Users can send the payment link to anyone instantly via WhatsApp, Email and Messenger to get the payment
● The TDR is less than 1.75%
● Have zero set-up and maintenance fees

  1. InstaMojo

It is one of the recent and trusted payment gateways that help collect online payments with ease with or without having a website. The best part of using this platform is that the charges are very reasonable. This payment gateway started in 2012, and it has become one of the best choices for businesses dealing online. If you have started your business online and want to have a hassle-free payment experience, you should go for this payment gateway for your business.

Features of Instamojo

● Have zero set-up fees
● There are no annual maintenance charges
● The transaction fee is 25 with the additional 3 rupees

  1. PayPal

There is no one to deny that PayPal is one of the largest and the most trusted online payment platforms in India and worldwide. If you are looking for some payment gateways that are tried and tested, you should rely on PayPal. In the year 2017, this payment provider has moved into the Indian markets, and it comes with a multitude of features that include the One Touch Pay as the Seller and Buyer Protection. Though the fees are higher than the other payment options, many businesses choose this as the trusted one in the market.

Features of PayPal

● It has an international and national payment support
● PayPal has a great customer support
● The documentation process is simple than others
● The settlement days or period is faster, and the money is auto-withdrawn to the local bank account daily

These are the top 5 payment gateways in India that start-ups can use for making transactions. If you are an entrepreneur and opened up your online business, choosing PayKun as your trusted payment gateway is the best decision to make.

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