If you wanna setup an e-Commerce store, you need to have a payment gateway to accept the payments from your customers.
Until the last couple of years, setting up a payment gateway would require of a lot of mundane tasks like creating a lot of documentation, verification, and a huge set-up feeds and techniques to make us know how it works. Hence, bu setting up a payment gateway, our tasks can be made simple.
It requires 5 simple things before setting up:
- Cost of the payment gateway
- Time for the setup
- Gateway User-Interface
- Netbanking, Mobile Wallets, UPI(payment options)
- Support after sale
iBase Solutions provide third party payment gateway integration services (iBase Solutions Pvt Ltd best e-commerce services company Hyderabad, India).
We have carefully picked-up 5 payments gateways which are suitable for small companies and have compared these gateways based on the above parameters.
CashFree
It is the next generation payment gateway which helps the Indian businesses to both collect and distribute the payment via almost 100 payment methods. Some of them are Rupay, Visa, UPI, MasterCard, IMPS, PayTM, NEFT and many others.
CCAvenue
It is the oldest gateway that launched in the year 2001. They have recently overhauled their UI website and the merchant dashboard.
When we were asking for their integration with our online invoicing software, they had the slowest onboarding which lasted for around 15-20 days. Nowadays, they are completing the activation within 24 hours. It is used by high volume websites like Snapdeal and highly reliable.
PayUMoney and PayUbiz
PayU India is a payment gateway solution provider which rebranded its products PayUbiz and PayUMoney to represent them as clear independent businesses in May 2015.
Now, PayUbiz is focussing upon the enterprises that are used by large enterprises such as Snapdeal and PayUMoney is a customer brand having wallet solutions for the customers and payment acceptance solution for SMB businesses.
Instamojo
It has started in 2012 and initially offered to collect the payment for only digital goods. But now, many users are using it to collect the payments for ebooks, reports, tutorials, services e.t.c
This is super easy to setup and has recently introduced instant boarding. Now, you need not possess any documentation to begin the trial account with Instamojo. You just have to answer a few questions and can get started in few minutes.
For the full account, you just need to have a bank statement and PAn card. Here, you can create a page where you can list your products or can directly request a payment.
EBS
This a France based Ingenio group and stands as a global leader for payment processing services. Though it is a highly reliable payment gateway, some of the reviews are really very negative.
It has recently lowered its charges due to heavy competition and highly opted for small and medium sized businesses.
Final Note:
The outlook of the whole payment gateway in India is changing rapidly. Now-a-days, we have options to accept money through mobile wallets apart from the traditional payment gateways. By launching UPI and Bharat QR, Government is also encouraging the digital payments.
We suggest you give importance to a number of payment methods because this provides ease of integration and support while choosing a payment gateway in India.
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