E-commerce businesses process a high volume of online transactions. As order volumes grow, payment failures, slow checkout, limited payment options or inefficient refunds can directly affect completed orders and customer experience.
A good payment gateway therefore needs to do more than process payments. It should support the payment methods customers use, provide a smooth checkout, integrate easily with the store, handle refunds efficiently and give the business visibility into transactions, settlements and reconciliation.
For this blog, we have compared the leading payment gateways for e-commerce in India across payment methods, checkout experience, offer engine, integrations, refund process, merchant operations, compliance and security. We have also considered payment success capabilities, onboarding and support, pricing and settlement options where relevant.
The comparison is based on publicly available information from the respective payment gateway providers, including their product pages, pricing pages and developer documentation. Feature availability may vary depending on the merchant category, integration type and commercial agreement.
What is an E-commerce Payment Gateway?
An e-commerce payment gateway is the technology that allows a website or app to accept online payments.
When a customer chooses UPI, cards, net banking or another method at checkout, the payment gateway securely sends the transaction information through the required banking or payment network, receives the approval or decline response and returns the payment status to the merchant.
Best Payment Gateways for E-commerce in India
The gateways below have been evaluated for an India-first e-commerce or D2C business based on payment methods, checkout experience, offers, integrations, refunds, merchant operations, compliance and security.
| Rank | Payment Gateway | Strongest Fit | Public Pricing |
|---|
| 1 | EnKash | Payments, affordability, COD controls, settlements and reconciliation | Custom pricing |
| 2 | Cashfree Payments | D2C checkout, offers and COD management | 1.95% standard rate |
| 3 | Razorpay | Developer integrations, checkout and refunds | 2% + GST |
| 4 | PayU | Offers, EMI and affordability | 2% on listed domestic modes; 3% on selected premium modes |
| 5 | PhonePe PG | UPI-led checkout | 1.99% standard rate, currently under a promotional offer |
| 6 | CCAvenue | Broad payment-method and multi-currency coverage | Around 2% + GST for standard domestic payments |
| 7 | Stripe India | International payments and developer tools | 2% on most India-issued Visa/Mastercard cards; 3% on cards issued outside India |
The right choice can vary by business model. A high-AOV store may place greater weight on EMI and affordability, while a merchant with significant overseas sales may prioritise international payment acceptance.
1. EnKash Payment Gateway
EnKash combines payment acceptance with affordability, COD controls, refunds, settlements and reconciliation. This makes it particularly relevant for Indian e-commerce businesses that want to manage both checkout and the payment operations that follow an order.
Payment Methods and Checkout
EnKash supports 100+ payment options, including UPI, credit and debit cards, net banking, wallets, EMI, no-cost EMI and BNPL. It supports major networks such as Visa, Mastercard, RuPay and American Express, along with connectivity across 50+ banks for net banking.
The checkout is mobile-responsive and supports tokenised card saving and multiple payment methods within the same flow. Its infrastructure can handle 800+ transactions per second, with auto-scaling for high-traffic periods.
Offers and Affordability
EnKash's Affordability Suite supports credit and debit card EMI, no-cost EMI, BNPL, Pay Later, cashback, discounts and exchange deals.
Affordability widgets can be placed on product pages so customers can view available payment plans before reaching checkout. Offers can also be configured based on factors such as product category, cart value and payment mode.
Integrations
EnKash supports Shopify, WooCommerce, Magento, Wix, PrestaShop, WHMCS and CS-Cart.
Custom websites and apps can integrate through APIs, SDKs and webhooks, with support for order creation, payment initiation, UPI Intent, dynamic QR, payment-status checks and refunds.
Refunds, Settlements and Merchant Operations
EnKash supports full and partial refunds, which can be initiated through APIs and tracked through the merchant interface.
Settlement options include same-day and T+1, with instant settlement available separately.
Transactions can also be reconciled across websites, marketplaces and social commerce channels. Integrations with Tally, SAP and Zoho help finance teams bring payment, settlement and reconciliation data into their existing accounting workflows..
The merchant dashboard brings these payment operations together, with visibility into transaction status, refunds, settlements, reconciliation, API keys and webhooks.
Security and Compliance
EnKash operates as an RBI-authorised online Payment Aggregator and lists PCI DSS Level 1, SOC 2 Type II, tokenisation and end-to-end encryption among its security capabilities.
Cons
No fixed public pricing: EnKash does not publish a standard transaction rate. Instead, pricing can be customised based on the business's transaction volume, payment mix and specific requirements.
Best suited for: Indian D2C brands, multi-channel e-commerce businesses and higher-volume merchants that want checkout, settlements and reconciliation within a connected payment setup.
Pricing: Custom pricing based on transaction volume, payment mix and business requirements.
2. Cashfree Payments
Cashfree is particularly strong for D2C brands that want to optimise the checkout itself. Its payment gateway supports 180+ payment modes, while Checkout360 adds addresses, offers, payment preferences and COD controls to the buying flow.
Key Features
Checkout360 can prefill customer information, surface preferred payment methods and show eligible offers during checkout. Its offer engine supports 300+ offer, including bank offers, cashback, no-cost EMI, Buy X Get Y and product-level promotions.
Cashfree also supports Shopify, WooCommerce, Magento, Wix and other e-commerce platforms, along with APIs and SDKs for custom stores. Full, partial and instant refund capabilities are available for eligible transactions.
Pros
- Strong D2C-focused Checkout360 experience
- Extensive offer engine
- Broad domestic payment-method coverage
- Good COD and RTO management capabilities
- Wide e-commerce integration ecosystem
Cons
- Some merchant reviews report slower technical support when complex issues require manual intervention
- Developer feedback has flagged gaps or outdated information in parts of the SDK documentation
- KYC or risk reviews can delay activation or temporarily restrict accounts for some merchants
Best suited for: D2C brands, Shopify stores and businesses with significant COD volumes.
Pricing: Standard public pricing is 1.95%, with a limited 0% MDR promotional offer currently available to eligible new merchants.
3. Razorpay
Razorpay combines a mature payment infrastructure with one of the strongest developer ecosystems among Indian payment gateways. Magic Checkout adds e-commerce-specific checkout and COD capabilities on top of the standard gateway.
Key Features
Magic Checkout supports saved customer information, offers, COD rules, partial COD, COD fees and COD-to-prepaid conversion.
Razorpay also provides Shopify and WooCommerce integrations, APIs and SDKs for custom applications, and a strong refund stack covering full, partial, batch, API and instant refunds.
Pros
- Mature APIs, SDKs and developer documentation
- Strong Magic Checkout capabilities
- Detailed COD controls
- Extensive refund infrastructure
- Good merchant reporting and payment analytics
Cons
- Slow support when complex account or settlement issues need escalation
- KYC and additional verification can take longer for some businesses
- Some merchants report settlement holds while account or risk reviews are being completed
- Magic Checkout requires separate activation rather than being included automatically with every PG account
Best suited for: Developer-led e-commerce businesses, Shopify merchants and D2C brands requiring advanced checkout and COD controls.
Pricing: Standard pricing is 2% + GST for most common domestic payment methods.
4. PayU
PayU stands out for its offer and affordability capabilities, making it particularly relevant for businesses where EMI, BNPL or discounts influence the purchase decision.
It supports 150+ payment modes across cards, UPI, net banking, wallets, EMI and BNPL.
Key Features
PayU supports instant discounts, cashback, no-cost EMI, pre-discounted offers and SKU-level promotions.
Its Affordability Suite can also display EMI and BNPL options on product pages. Shopify integrations include payments, refunds, reconciliation, offers and affordability tools.
Full, partial, bulk and instant refund options are available depending on the transaction and merchant setup.
Pros
- One of the strongest offer engines in the comparison
- SKU-level and product-specific promotions
- Strong EMI and BNPL capabilities
- Broad payment-method coverage
- Useful for high-AOV purchases
Cons
- Slow onboarding or repeated verification requirements
- Support resolution can take longer when activation, settlement or account-review issues require manual intervention
- Some merchants report settlement or fund-hold issues taking time to resolve
- Parts of the merchant interface have been described by users as less modern than newer alternatives
Best suited for: Electronics, appliances, furniture, education and other high-AOV e-commerce categories.
Pricing: 2% for several standard domestic payment modes and 3% for EMI and selected premium or international methods, plus applicable GST.
5. PhonePe Payment Gateway
PhonePe PG is particularly relevant for businesses where UPI contributes a large share of online transactions.
Its Express Checkout product extends beyond payment acceptance and reduces several steps before the customer completes an order.
Key Features
Express Checkout can use saved addresses and payment information, support coupons and COD, and validate serviceable addresses.
PhonePe also offers Fast Forward and Quick Checkout, along with integrations for Shopify, WooCommerce, Magento and OpenCart.
The merchant dashboard covers transactions, refunds, settlements and payment-success analytics.
Pros
- Strong UPI-led payment experience
- Fast and relatively simple checkout
- Express Checkout reduces repeated customer input
- Good fit for mobile-first Indian customers
- Straightforward integrations for common e-commerce platforms
Cons
- Merchant feedback around the PG is still less extensive than for Razorpay, Cashfree or PayU
- Some merchant reviews report delays in KYC, document verification and account activation
- Settlement timing has been flagged by some users
- Businesses that do not fit a conventional website or app setup may face additional onboarding checks
Best suited for: UPI-heavy e-commerce businesses and D2C brands focused on reducing checkout steps.
Pricing: PhonePe currently lists a standard rate of 1.99%, with a Free* promotional offer subject to applicable terms.
6. CCAvenue
CCAvenue's biggest strength is the breadth of payment methods and currencies available through its platform.
CCAvenue currently markets support for 200+ payment modes, including cards, UPI, net banking, EMI, and prepaid payment options, along with multi-currency processing across 27 currencies.
Key Features
CCAvenue provides responsive checkout, iFrame integration, saved payment information, payment retries and Smart Dynamic Routing.
Merchants can also configure flat or percentage discounts and BIN-based promotions.
Platform integrations include WooCommerce, Magento, OpenCart and PrestaShop.
Pros
- Extensive domestic payment-method coverage
- Strong net-banking coverage
- Multi-currency support
- Long operating history in the Indian payment market
- Smart routing and payment retry capabilities
Cons
- Some merchant reviews report settlement holds while transactions or accounts are under review
- Dispute and support cases can require additional follow-ups and documentation
- Merchant feedback includes occasional technical issues
- AMC and platform-specific charges can vary depending on the commercial arrangement, so the complete cost needs to be checked carefully
Best suited for: Established businesses that prioritise broad domestic payment acceptance and international currency support.
Pricing: Standard domestic pricing is around 2% + GST, with additional charges applicable to certain services and integrations.
7. Stripe India
Stripe has a mature global payment infrastructure and a strong developer ecosystem in comparison, but its usefulness changes considerably for an India-first e-commerce business.
New Indian accounts remain invite-only.
Key Features
Stripe provides hosted and embedded checkout, saved payment information, promotion codes, fraud tools and a large developer ecosystem built around APIs and SDKs.
Its merchant stack also covers payments, refunds, payouts, disputes, reporting and fraud management.
Eligible Stripe India accounts can accept international payments in 135+ currencies, subject to Stripe's India onboarding, export and compliance requirements.
Pros
- Excellent APIs and developer experience
- Mature global payment infrastructure
- Strong international payment capabilities
- Detailed merchant dashboard
- Advanced fraud tools through Stripe Radar
Cons
- New Indian merchant accounts are currently invite-only
- Stripe India currently does not support local payment methods
- EMI is currently unavailable for India accounts
- Some merchants report difficulty getting human intervention when automated risk reviews restrict or pause payments
- Costs can increase when international processing and additional Stripe products are added
Best suited for: International-first businesses, exporters and engineering-led companies that can obtain access.
Pricing: 2% for most India-issued Visa and Mastercard cards and 3% for cards issued outside India, with additional charges where currency conversion applies.
Which Payment Gateway Should an E-commerce Business Choose?
No single payment gateway is best for every e-commerce business.
For a broad India-first e-commerce setup, EnKash provides a strong combination of payment acceptance, affordability, COD controls, settlement and reconciliation.
Cashfree is especially strong when checkout conversion and advanced offers are priorities.
Razorpay is a good fit for businesses looking for a mature developer ecosystem and detailed e-commerce checkout controls.
PayU stands out for offers, EMI and affordability.
PhonePe PG is attractive for UPI-heavy businesses and faster checkout requirements.
CCAvenue remains strong for broad payment-method and multi-currency coverage.
Stripe is best considered when international payments are central to the business and the company is eligible for an Indian account.
The final choice should be based on your transaction volume, payment mix, platform, checkout requirements, refund volume and finance operations, and the commercial terms each provider offers.
Frequently Asked Questions
Which Payment Gateway is Best for E-commerce in India?
EnKash, Cashfree, Razorpay, PayU, PhonePe PG and CCAvenue are good options for Indian e-commerce businesses. The right choice depends on payment methods, checkout needs, integrations, settlements, refund volume and transaction scale.
Which Payment Gateway Has the Lowest Charges in India?
There is no single cheapest gateway. Most public rates are around 1.95% to 2% for standard domestic payments. EnKash offers custom pricing based on transaction volume, payment mix and business requirements. Compare the total cost, including GST, settlement fees and other applicable charges.
Which Payment Gateway is Best for Shopify in India?
EnKash, Cashfree, Razorpay, PayU, PhonePe PG and CCAvenue support Shopify integrations. Compare checkout features, COD controls, offers, refunds, pricing and any additional Shopify transaction fees before choosing one.
How Long Does Payment Gateway KYC and Onboarding Take in India?
Onboarding time varies by provider, business category and documentation. Eligible merchants may be activated quickly, while additional compliance or risk checks can extend the process. Keep business, bank, KYC and website details ready to avoid delays.
Which Payment Gateway Offers the Fastest Settlement in India?
Several gateways offer same-day or instant settlements for eligible merchants. EnKash provides same-day and T+1 options, with instant settlement available separately. Compare the standard settlement cycle and any additional fee charged for faster access to funds.
Can an E-commerce Business Use Multiple Payment Gateways?
Yes. Larger e-commerce businesses may use multiple gateways for redundancy and payment routing. When payment routing or failover is properly configured, multiple gateways can improve continuity during provider outages or payment failures, but they also add integration, settlement, refund and reconciliation work.
Is UPI Free for E-commerce Merchants?
As of September 2026, consumers do not pay transaction charges for UPI, and no blanket MDR has been introduced for merchants. The Government has said that any future MDR, if introduced, would apply only to a limited set of merchant transactions above a threshold. Payment gateways may separately charge platform or technology fees depending on the merchant's plan.
Which Payment Gateway is Best for Accepting International Payments From India?
CCAvenue, EnKash, Cashfree, Razorpay and PayU offer international payment capabilities subject to eligibility. Stripe is strong for international payments but remains invite-only in India. Compare supported currencies, international card fees, conversion charges and settlement requirements.
Payment gateway features and publicly listed pricing were reviewed using provider information available as of 1 September 2026. Product availability, pricing, promotional terms and settlement options may change or depend on merchant eligibility and commercial agreements.
