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Tag: Online Payment Gateways

  • Top SaaS Payment Gateway & Processing Solutions: Best Platforms for Your Business

    When it comes to Software as a Service (SaaS) applications, payment processing usually involves either a shopping cart/payment checkout or the management of recurring/subscription payments. Both of these methods present unique challenges and opportunities for the SaaS platform. The right payment gateway can help you securely process payments, manage subscriptions, and provide an excellent user experience for your customers. However, selecting the right payment processor for your SaaS company is a crucial decision, given that customers trust you with their sensitive financial information. Ensuring their details are secure is a top priority. In addition, you want to guarantee a seamless payment process with no interruptions, which is especially critical when selling software to established businesses.

    B2B customers are willing to pay a premium price for the right solution, but their standards are high, and they won’t hesitate to switch to a competitor if they feel let down. Thus, selecting the appropriate payment gateway for your B2B SaaS is critical. With so many options available, it can be overwhelming to choose the best one for your business. In this blog post, we’ll explore the six best payment gateways for your SaaS startup to help you make an informed decision and set your business up for success.

    Best Payment Gateways for Your SaaS Startup

    S.No Platform Pricing Key Features
    1 Stripe 2.9% + 30¢ per transaction Global payments, robust APIs, subscription billing
    2 Braintree 2.9% + 30¢ per transaction Cards + PayPal, vaulting, fraud protection
    3 Paddle Custom (revenue-share model) Subscription management, tax/VAT compliance
    4 Paypal 2.9% + 30¢ per transaction Widely accepted, buyer protection, simple setup
    5 Adyen Custom (volume-based pricing) Multi-currency, unified commerce, enterprise security
    6 Chargebee Starts at $599/month Subscription billing, dunning, analytics
    7 GoCardless ~1% per transaction (capped) Direct debit, recurring payments, low fees for ACH/SEPA
    8 Recurly Starts at $199/month Subscription billing, churn management, reporting

    Stripe

    Website Stripe.com
    Rating 4.7 out of 5
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad
    Stripe Best Payment Gateway
    Stripe – Best Saas Payment Solutions

    Stripe is a popular payment gateway Software as a Service (SaaS) software that offer online services or subscriptions. With Stripe, SaaS businesses can easily accept online payments from their customers, set up recurring billing, and manage subscription plans.

    It offers a range of features and benefits, including easy integration with websites and mobile apps, support for multiple payment methods such as credit cards, digital wallets, bank transfers, fraud prevention tools and customizable checkout options.

    Stripe’s comprehensive suite of products includes a payment platform, billing system, and software that empowers platforms to remit payments to vendors. With support for over 135 currencies, the likelihood is high that Stripe covers the currency that is most relevant to your business.

    Stripe is trusted by millions of businesses, including companies like Amazon, Google, Lyft and Slack, as well as non-profits such as Unicef, Oxfam and Khan Academy.

    What is Stripe and How Does it Work | SaaS Payment Processing

    Pricing:

    Stripe standard payment processing fee starting at 2% for cards issued in India and 3% for cards issued outside India.

    Plan Price
    Pay As You Go (for cards issued in India) 2% per successful card charge
    Pay As You Go (for cards issued outside India) 3% per successful card charge
    Enterprise Custom Plans

    Braintree

    Website www.braintreepayments.com
    Rating 3.8 out of 5
    Free Trial Not Available
    Platforms Supported Web, Android
    Braintree - SaaS Payment Gateway
    Braintree – SaaS Payment Gateway

    Braintree is a software-as-a-service (SaaS) payment gateway that allows businesses to accept online payments from their customers. It was founded in 2007 and acquired by PayPal in 2013. Braintree offers two main products, Braintree Direct (to accept online payments) and Braintree Extend (to connect with partners). There’s also Braintree Marketplace (payments for online marketplaces) and Braintree Auth, which is still in beta at the moment of writing, but will “enable your merchants to connect a Braintree account to your platform, and receive permission to take action on their behalf.”

    As a PayPal service, Braintree’s innovative payments technology, scalable solutions, and legendary white-glove support are backed by one of the world’s largest and most trusted fintech brands. It is the payments platform for some of the world’s leading brands including Uber, Dropbox, GitHub and yelp. Braintree accepts most major credit and debit cards such as Visa, MasterCard, American Express, etc. They also accept most widely adopted e-wallets such as PayPal, Apple Pay, Google Pay, etc.

    Pricing:

    Braintree’s pricing is based on a per-transaction fee structure, with no setup or monthly fees. The fee varies depending on the payment method used and the country in which the transaction occurs.

    Plan Price
    Cards and digital wallets 2.59% + $.49 per transaction
    PayPal and PayPal Credit Fees are subject to the terms applicable to your PayPal account
    Venmo 3.49% + $.49 per transaction
    ACH Direct Debit 0.75% per transaction

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    Paddle

    Website www.paddle.com
    Rating 4.0 out of 5
    Free Trial Not Available
    Platforms Supported Web, iPhone/iPad
    Paddle - Payment Gateway for SaaS
    Paddle – SaaS Payment Platform

    Paddle provides a unique approach to payment infrastructure for software-as-a-service (SaaS) companies. Instead of just offering payment processing options, Paddle provides a range of tools and services, including customizable checkout pages, upselling and cross-selling capabilities, recurring billing and subscription management, and fraud prevention services. This comprehensive approach allows SaaS companies to streamline their payment processes and increase revenue while also ensuring the security of their transactions.

    No extra tools to buy and bolt together. With Paddle, software products can grow into software businesses. It optimizes your pricing, scale self-service sales, and move upmarket with team plans and enterprise invoicing. You can use Paddle Checkout and APIs to create, customize, and control website and in-app purchase and subscription flows that match your brand, including upsell, cross-sell, and language localization. Paddle also allows to create any billing cycle, seat-based, usage-based, credit-based, whatever-based billing model with Paddle’s flexible subscription management.

    Pricing:

    Paddle’s pricing is based on a percentage of the transaction value, with no setup or monthly fees. The transaction fee varies depending on the country and the payment method used. Paddle also offers volume-based pricing discounts for businesses with high transaction volumes.

    Plan Price
    Pay-as-you-go 5% + 50¢ per transaction*
    Based on ROI assessment Custom pricing

    Paypal

    Website www.paypal.com
    Rating 4.7 out of 5
    Free Trial Not Available
    Platforms Supported Web, Android, iPhone/iPad
    Paypal - SaaS Payment Gateway
    Paypal – SaaS Payment Solutions

    PayPal is a SaaS payment gateway that allows individuals and businesses to send and receive online payments securely. It was founded in 1998 and is headquartered in California, USA.

    PayPal helps you get paid even if you don’t have a website or online checkout. Easily track and manage your cash flow-and get ready to sell more. It provides 3 easy ways to get paid: Email payments, Professional invoices and your personalized link to get paid In India or globally. With PayPal customers enjoy 180-day window for dispute resolution and zero liability for unauthorized transactions.

    One of PayPal’s main strengths is its wide reach and popularity. It is accepted in over 200 countries and supports more than 100 currencies. This makes it a popular payment gateway choice for businesses operating internationally.

    Pricing:

    PayPal’s pricing is based on a percentage of the transaction value, with no setup or monthly fees. The transaction fee varies depending on the country and the payment method used. PayPal also offers discounted transaction fees for businesses with high transaction volumes.

    Domestic Personal Transactions

    Payment method Price
    PayPal balance or a bank account No fee
    Cards 2.90% + fixed fee
    Amex Send™ Account No fee

    International Personal Transactions

    Payment method Price
    PayPal balance or a bank account 5.00% ( Min international fee – 0.99 USD, and max international fee – 4.99 USD )
    Cards 5.00% ( Min international fee – 0.99 USD, and max international fee – 4.99 USD )
    Amex Send™ Account 5.00% ( Min international fee – 0.99 USD, and max international fee – 4.99 USD )

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    Adyen

    Website www.adyen.com
    Rating 4.9 out of 5
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad
    Adyen - Best Payment Gateway for SaaS Startups
    Adyen – Best Payment Gateway for SaaS Startups

    Adyen was founded in 2006 by a group of entrepreneurs, including Pieter van der Does and Arnout Schuijff and is headquartered in Amsterdam, Netherlands. Adyen is the platform built to simplify and accelerate global payments. As your customers continue to move fluidly between online and offline, you need to be able to meet their expectations. Adyen allows you to easily manage payments across platforms.

    The Adyen platform enables merchants to accept payments in a single system, enabling revenue growth online, on mobile devices and at the point of sale. It is a scalable enterprise solution that powers the payment processing of big tech, such as, Facebook, Uber, Netflix and Airbnb. That tells you Adyen is suited for building an end-to-end payment infrastructure, which allows for expanding fast and tracking results at manageable risk levels.

    How do Adyen Payments work? Saas Payment Processing Services

    Pricing:

    Adyen offers no fixed enterprise pricing plans, but charges a calculated processing fee and commission per each transaction. Fee is based on Interchange++ model for Visa, Mastercard and other cards. Interchange++ components include: interchange fee by issuing bank; scheme fee by cards scheme; and acquirer markup, if any.

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    Chargebee

    Website www.chargebee.com
    Rating 4.4 out of 5
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad
    Chargebee - Best Payment Gateway for SaaS Startups
    Chargebee – Best Payment Gateway for SaaS Startups

    Chargebee is a subscription management software that specializes in handling recurring billing and SaaS subscriptions. While it doesn’t have its own payment gateway and merchant account, Chargebee integrates seamlessly with a wide range of providers including Stripe, PayPal, and around 25 others. It is designed to meet the unique needs of businesses operating under SaaS subscription models.

    Pricing:

    Chargebee’s pricing is based on a monthly subscription fee, with no transaction fees. The subscription fee varies depending on the number of customers and features required.

    Plan Yearly Price Monthly Price
    Launch $0/month $0/month
    Rise $249/month $299/month
    Scale $549/month $599/month
    Enterprise Custom plans Custom plans

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    GoCardless

    Website www.gocardless.com
    Rating 4.6 out of 5
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad
    GoCardless - Best Payment Gateway for SaaS Startups
    GoCardless – Best Payment Gateway for SaaS Startups

    GoCardless is a payment gateway made for SaaS companies, small, and mid-sized businesses. It lets you collect recurring payments directly from customers’ bank accounts, so you don’t have to deal with high card processing fees.

    It works in 30+ countries and supports 8+ currencies. While it’s not the best option for international payments, you can still collect them. The platform also connects easily with project management, automation, and other business tools.

    GoCardless has developer-friendly APIs, so integrating it into your system is smooth. Payments are processed through the Automated Clearing House (ACH), which is slower than card payments but much cheaper.

    Security is a big plus, ACH with GoCardless gives you a safe, cost-effective way to handle payments without the extra fees of traditional cards.

    Pricing:

    Plan Yearly Price Monthly Price
    Standard 1% per transaction (capped at £4) 1% per transaction (capped at £4)
    Plus Custom pricing Custom pricing
    Pro Custom pricing Custom pricing

    Recurly

    Website www.recurly.com
    Rating 4.6 out of 5
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad
    Recurly - Best Payment Gateway for SaaS Startups
    Recurly – Best Payment Gateway for SaaS Startups

    Recurly is a subscription billing and payment platform made for SaaS businesses. It works like Stripe and Braintree but is especially focused on managing recurring payments. The platform is easy to use, quick to set up, and gives you helpful data insights to grow your business. Many well-known brands such as LiveChat, Full Cube, and AccuWeather already use Recurly.

    Recurly supports 140 currencies and 30 languages, making it a great choice for global businesses. It connects with 28 different payment gateways and offers 12 payment methods, so you can give your customers flexibility in how they pay.

    On the security side, Recurly keeps customer data safe with advanced hosting solutions, two-factor authentication, and PGR encryption. This means you can focus on your business while Recurly takes care of secure billing.

    Pricing:

    Plan Yearly Price Monthly Price
    Starter Custom $249/month
    Professional Custom Custom
    Elite Custom Custom

    Conclusion

    Choosing the right payment gateway is a critical decision for any SaaS startup. Each payment gateway has its strengths and weaknesses, and it’s important to consider factors such as transaction fees, payment methods supported, fraud prevention, and international payment processing capabilities. By carefully evaluating the available options and choosing a payment gateway that aligns with your goals, you can ensure a smooth and secure payment processing experience for your customers.

    FAQs

    What is the best payment method for SaaS?

    Some of the best SaaS payment gateways on the market are Stripe, PayPal, and Braintree.

    What is SaaS payment gateway?

    A SaaS (Software-as-a-Service) payment gateway is a service that enables businesses to securely and efficiently process online payments from customers for their subscription-based services or products.

    How do SaaS companies collect payments?

    SaaS companies collect payments through various methods including credit/debit card, bank transfer, ACH, invoice, and mobile payments.

    Why use Chargebee instead of Stripe?

    Chargebee is a subscription billing and revenue management platform that provides more advanced functionality and features compared to Stripe, which is primarily a payment gateway.

    What are some factors to consider when choosing a payment gateway for SaaS startups?

    Some key factors to consider when selecting a payment gateway for a SaaS startup include security, transaction fees, ease of use, customer support, compatibility with existing systems, and scalability.

  • Top 12 Best Online Payment Gateways in India 2025

    At present, the world has experienced huge growth in online payments, and with the Covid-19 presence, people preferred to use online payment methods for almost everything as it is safe and secure. More and more people are opting for a cashless way to transfer money. Here, comes the work of the payment gateway. A payment gateway is basically a merchant service that connects the users’ bank accounts with the platform where the users need to transfer their money. A bank may provide a payment gateway to its customers, there is also a specialized financial service provider such as a payment service provider which provides it as a separate service.

    Whether you are a small business or you have an established E-commerce business, good payment service is an essential factor for it. An online payment gateway is a secure and convenient way for a website or online business to accept payments from customers. When a customer makes a purchase on an e-commerce website, they enter their payment information, which is then processed by the payment gateway. The payment gateway verifies the information, checks to see if the customer has the funds available, and then transfers the funds from the customer’s account to the business’s account.

    A payment gateway platform gives authority to the users to conduct an online transaction through various payment modes such as net banking, credit card, debit card, UPI, and other online payment apps. It is a third-party platform that provides the ability for the user to securely transfer their money to the merchant’s payment portal. In this era of the digital world, E-commerce is leading the market. As times are changing fast online businesses are also moving. So, it is important to know about the payment gateways in India.

    In order to use an online payment gateway, you will need to sign up for an account and integrate the payment gateway into your website or online store. This typically involves adding a few lines of code to your website and may also require you to obtain a merchant account.

    There are many different online payment gateways available, each with its own set of features and fees. In this article, we will talk about the top payment gateways in India that allow customers to make payments online. So, let’s take a look at them.

    S.No. Payment Gateway Key Features Transaction Fees
    1 Razorpay Easy integration, supports multiple payment modes, instant settlements 2% per transaction
    2 Instamojo No setup fee, user-friendly dashboard, quick payouts 2% + ₹3 per transaction
    3 Paytm Large user base, supports UPI/wallet/cards, instant refunds 1.99% + taxes
    4 CCAvenue Multiple currency support, advanced fraud detection, recurring billing 2% per transaction
    5 Payflow Easy integration for businesses, seamless checkout experience Varies by plan
    6 Cashfree Instant settlements, API friendly, supports international payments 1.75% onwards
    7 BillDesk Reliable for utility and recurring payments, strong security 1.5% onwards
    8 Atom Supports 100+ payment options, secure and scalable 1.99% onwards
    9 HDFC Bank-backed, secure transactions, easy reconciliation 2% per transaction
    10 PayKun No setup or maintenance fee, multiple payment modes 1.75% per transaction
    11 PayU Easy checkout, supports international cards, fast settlements 2% per transaction
    12 MobiKwik Popular wallet-based gateway, supports UPI, cards, EMI, and Buy Now Pay Later options 1.75% onwards

    Razorpay

    Mobile Applications Google Play Store
    Accepted Payment Methods Domestic and International Credit & Debit cards, EMIs ( Credit/Debit Cards & Cardless), PayLater, Netbanking from 58 banks, UPI and 8 mobile wallets
    Razorpay - best payment gateway in India
    Razorpay – best payment gateway in India

    Razorpay is one of the best payment gateways in India for your business. It was started in 2014. Many entrepreneurs who use Razorpay for their business, have seen some increase in their conversion rate. Razorpay has helped businesses to solve the problem of digital payments. It is due to their smooth user experience. Also, the refund process is easy and automated. If your customer applies for a refund, Razorpay will automatically get the refund, if you set it to, without any extra widget or code. You can use Razorpay Subscriptions to execute the automated recurring transactions on various payment modes, through a platform that’s built for automation.

    Razorpay Features

    • You can improve your business sales as Razorpay provides cashback and discounts to your customers
    • Payment modes include credit cards, debit cards, net banking, payments through UPI, and popular wallets.
    • Razorpay allows you to accept international payments from over 100 countries.
    • Manage your marketplace, automate bank transfers, collect recurring payments, share invoices, and avail working capital loans.

    Instamojo

    Mobile Applications Google Play
    Accepted Payment Methods 170+ payment methods including RTGS/Bank Transfer/NEFT/EMI
    Instamojo - best payment gateway in India
    Instamojo – best payment gateway in India

    Instamojo is one of the top-rated payment gateways in India. It allows businesses to create a business account instantly and the account can also be activated within a few minutes to collect online payments. This is a Bangalore-based company and the target of Instamojo is selling digital goods and collecting payments online. You can enroll yourself at Instamojo with a bank account and start your online selling business. You can also collect payments for physical goods and workshops or events.

    Instamojo Features

    • To set up the payment gateway, no extra payment is needed.
    • Different types of payment methods are available.
    • Special care is being taken for the security of the server.
    • Businesses can create discount codes for their products.

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    Paytm

    Mobile Applications Google Play and App Store
    Accepted Payment Methods UPI, Debit Card, Credit Card, NetBanking, AMEX/International
    Paytm - payment gateway provider in India
    Paytm – payment gateway provider in India

    Paytm has emerged as a leading payment gateway in India due to its online customer base with the very popular Paytm wallet. It supports domestic credit cards like Visa, MasterCard, Maestro, Amex, Discover, and Diners. With Paytm online transactions can be made anytime and from anywhere. It is the best payment gateway solution provider in India which has served some biggest eCommerce companies.

    Some of the most popular companies which use Paytm are Jabong, OLA, Cleartrips, Redbus, GoIbibo, Zomato, etc.

    How to Create Payment Links from the Paytm Business Dashboard

    Paytm Features

    • The latest technologies are used for secure online transactions.
    • It has the feature of saved cards, where a customer doesn’t have to put their card details again and again.
    • Paytm is not only available as a desktop application but also supports smartphones and tablets.

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    CCAvenue

    Mobile Applications Not Available
    Accepted Payment Methods 200+ payment methods including EMI options
    CCAvenue - top payment gateway in India
    CCAvenue – Payment Gateway for Small Business in india

    CCAvenue is an authorized payment gateway provider by Indian Financial Institutions and is known as the most secure and best payment gateway to transact money for online shopping. Customers can make online transactions via Credit Cards, Debit Cards, Net Banking, Digital and Mobile Wallets, Mobile Payment, and Cash Card modes. It offers smooth, fast, and secure transactions to its customers. Currently, CCAvenue powers more than 85% of businesses in India.

    CCAvenue Features

    • CCAvenue provides “Smart Analytics” by which you can see a real-time comprehensive statistical online report and a transparent history of all your transactions.
    • It has a ‘Mobile Checkout Page’ which supports all mobile operating systems.
    • CCAvenue also has CCAvenue In-built Advanced Shopping Cart’, CCAvenue S.N.I.P. ( Social Network In-stream Payments), it is one of India’s first genuine Social Commerce facilities.

    Payflow

    Mobile Applications App Store and Google Play
    Accepted Payment Methods Accept all major debit and credit cards supported by their processor, including Visa, Mastercard®, American Express, Discover, JCB, and Diners Club. Payflow Gateway also supports L2/L3 purchase cards, prepaid cards, foreign currencies, TeleCheck, and ACH.
    Payflow - Best Online Payment Gateways in India
    Payflow Logo

    Payflow is offered by PayPal. It is known for being a secure and open gateway for payments. Payflow accepts all major credit and debit cards. It adds over 173 million customers regularly and supports more than 100 currencies. In India, it is used by Merchants for receiving international payments.

    Payflow Features

    • It accepts and offers different payment methods.
    • The checkout process is customized with the help of APIs.
    • It supports fraud protection services and allows you to install it for an additional fee.

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    Cashfree

    Mobile Applications Google Play Store
    Accepted Payment Methods UPI, EMI, digital wallets, Debit/Credit cards, and 100+ other payment options
    Cashfree - top payment gateway in India.
    Cashfree – top payment gateway in India.

    Cashfree is a low-cost and popular payment gateway in India. Cashfree helps businesses in India to accept payments online from various payment channels. The best thing about Cashfree is that it has direct integration with multiple banks which makes Cashfree a fast and reliable payment gateway. It is the only payment gateway in India that provides a wide range of payment options such as Visa, MasterCard, Maestro, Rupay, and Amex, including 70+ more net banking options. Cashfree also supports UPI, NEFT, IMPS, and PayPal. TDR is the transaction discount rate that every payment gateway charges from the merchants for processing the transactions to their bank account.

    Cashfree Features

    • The setup cost is not needed.
    • Cashfree also supports online wallets like Paytm, PhonePe, and GooglePay.
    • Cashfree is the fastest settlement cycle of 24 hours to 48 hours and also offers popup, iframe and seamless checkout modes

    BillDesk

    Mobile Applications Google Play Store
    Accepted Payment Methods 120+ Credit cards, Debit cards, Banks, Net Banking, Wallets
    BillDesk - online payment gateway provider
    BillDesk – online payment gateway provider

    BillDesk is an Indian online payment gateway company based in Mumbai, India. BillDesk provides bill payment and settlement services to large billers like electricity, water, insurance, and other service providers. BillDesk also provides the ability to customers to decide how and when to make payments. BillDesk is a one-stop solution for customers through which customers can make all their payments at any time and from anywhere.

    BillDesk Features

    • The integration is developer friendly and is quite easy and flexible..
    • BillDesk offers various payment methods.
    • Customers can also receive payment reminders or alerts.

    Atom

    Mobile Applications Google Play Store
    Accepted Payment Methods Visa, Mastercard, Discover and American Express plus Amazon Pay, Apple Pay, Google Pay, PayPal, and Venmo
    Atom Online Payment Gateway
    Atom Online Payment Gateway

    Atom consists of various payment options which accept payment through all major debit cards and credit cards. Atom has completed over 15 million transactions and is used by thousands of merchants across the country. Atom is completely secured as it is backed with PCI DSS version 3.2 and 256-bit encryption which ensures a safe and secure transaction.

    Atom Features

    • Atom provides multiple payment methods.
    • The integration is quite simple and easy.
    • Atom provides invoices after every payment.

    HDFC

    Mobile Applications App Store and Google Play Store
    Accepted Payment Methods All major credit, debit cards and net banking in India, including Visa, MasterCard, Visa Electron, Diners, Rupay, Discover or Maestro
    HDFC Best Online Payment Gateway
    HDFC Best Online Payment Gateway

    HDFC is one of the largest banks in India that offers a payment gateway service for merchants and businesses to accept online payments from their customers. Many organizations like VSNL, Sify, and IRCTC use HDFC. If you want to use HDFC on your website or mobile app, you need to use their EPI payment gateway services. The HDFC Payment Gateway allows merchants to securely accept a wide range of payment options, including credit and debit cards, net banking, and UPI payments. The advantages of the HDFC payment gateway are instant settlement, a 100% chargeback facility, the facility to accept payment in 15 international currencies, easy integration with existing applications, and support for various shopping cart applications.

    HDFC Features

    • The HDFC Payment Gateway supports a wide range of payment options, including Visa, Mastercard, American Express, and Rupay credit and debit cards, as well as net banking and UPI payments.
    • The HDFC Payment Gateway uses 128-bit SSL encryption to secure your transactions and protect your financial information.
    • The HDFC Payment Gateway can be easily integrated with your website or mobile app, allowing you to customize the payment experience for your customers.
    • The HDFC Payment Gateway provides detailed transaction reports and reconciliation tools to help you manage and track your payments.
    • It accepts 15 types of international currencies.
    • It provides 24×7 customer service.

    PayKun

    Mobile Applications Not Available
    Accepted Payment Methods UPI wallet payments, subscription payments, Debit/Credit cards, Master Card, diners club card, net banking, wallets, UPI/BHIM
    PayKun online payment provider
    PayKun online payment provider

    PayKun is an easy solution for online payments for all types of businesses including small businesses, and medium to large. Any kind of merchant including a freelancer, a YouTuber, a blogger, from an eCommerce website or mobile app, an offline and online seller at the shop or showroom, or an individual, every type needs to have an easy hand on the modern technology for the collection of digital payments. It provides free plugins and SDKs readily available on the internet to integrate with all the major platforms of websites and mobile applications.

    PayKun Features

    • Paykun has zero setup fees and zero maintenance fees.
    • It provides different types of payment methods.
    • The server is safe enough to use.

    PayU

    Mobile Applications Google Play and App Store
    Accepted Payment Methods 100 different payment methods are supported, including EMI, UPI, net banking, cards, wallets, Buy Now Pay Later, etc.
    PayU best multi-currency payment gateway
    PayU best multi-currency payment gateway

    PayU (formerly known as PayU Money) is one of the best multi-currency payment gateways to accept online payments. The PayU payment gateway is designed to be secure, reliable, and easy to use for both merchants and customers.

    To use the PayU payment gateway, merchants need to sign up for an account and integrate the payment gateway into their online store or website. This can typically be done through the use of a software development kit (SDK) or by integrating with a payment processor or shopping cart platform. Once the integration is complete, merchants can start accepting payments from customers through the PayU payment gateway.

    You can start accepting payments securely and seamlessly within your iOS, Android, or Windows app, within minutes, with its 100% online hassle-free onboarding process.

    PayU Payment Gateway: What is a payment gateway and how does it work?

    PayU Features

    • PayUMoney supports multi-currency transactions and international credit cards.
    • PayU provides over 100+ payment methods
    • The transaction history is available through PayU.

    Mobikwik

    Mobile Applications Google Play and App Store
    Accepted Payment Methods Supports UPI, MobiKwik wallet, credit/debit cards, net banking, EMI, and Buy Now Pay Later options.
    Mobikwik Best Online Payment Gateway

    MobiKwik (earlier called Zaakpay) is one of the fastest-growing eCommerce payment gateways, helping businesses run smoothly. It focuses on giving users an easy experience by automatically detecting OTP (One Time Password) during payments.

    Some well-known clients include Business World, BlueDart, Uber, and Zomato. Businesses can also integrate this gateway into their website or app with the help of eCommerce development companies.

    Mobikwik Features:

    • Strong PCI DSS security to keep transaction data safe
    • Website analytics to track payment data
    • Supports credit/debit cards, wallets, international cards, UPI, and EMI options

    Conclusion

    The payment gateway has become the most important part of the world of increasing eCommerce businesses. If a business provides a good payment service, it automatically creates a good impression in front of its customers. With the increase of E-commerce businesses in the world, the need for proper payment gateways is also increasing.

    FAQs

    What is a Payment Gateway?

    A payment gateway platform gives authority to the users to conduct an online transaction through various payment modes such as net banking, credit card, debit card, UPI, and other online payment apps.

    Where payment gateways are used?

    Payment Gateways are used mostly used by E-commerce businesses.

    What are some top 5 Payment Gateways?

    The top 5 payments gateways are:

    • Razorpay
    • Instamojo
    • BillDesk
    • Paytm
    • Payflow

    Which is better, Paytm or PayPal?

    The choice between Paytm and PayPal will depend on your specific needs and preferences. It may be helpful to consider factors such as geographical availability, payment methods, fees, and security when deciding which platform is right for you.

    Who regulates payment gateways in India?

    In India, payment gateways are regulated by the Reserve Bank of India (RBI), which is the central bank of the country.

    Which is the cheapest payment gateway in India?

    Cashfree Payment gateway is as of now, one of the cheapest payment gateways in India.

    Is UPI available only in India?

    UPI is not limited to India and has been adopted by some financial institutions and payment service providers in other countries as well such as Bhutan, Nepal, UAE, and the UK.

    Which is better, Razorpay vs Billdesk?

    Razorpay is better for startups and online businesses because it offers easy integration, many payment options, and instant settlements. BillDesk is more suited for large enterprises and utility bill payments due to its reliability and strong security.

    Which is better, HDFC Payment Gateway vs Razorpay?

    Razorpay is better for startups and developers due to its easy setup, modern features, and instant settlements, while HDFC Payment Gateway is ideal for established businesses needing a bank-backed, secure solution.

    Which is the best payment gateway for startups in India?

    The best payment gateway for startups in India is Razorpay because it offers easy integration, multiple payment options, fast settlements, and low setup hassle.

    Which are the payment gateway for website in India?

    Razorpay, PayU, and Cashfree are top payment gateways for websites in India, offering easy integration and fast payments.

    Which is the best payment gateway for online business?

    The best payment gateway for online business in India is Razorpay due to its seamless integration, wide payment options, and quick settlements.

  • India Becomes World Leader in Fast Payments — Speed Beats All

    According to an IMF statement, the rapid expansion of UPI has allowed India to surpass all other nations in terms of payment speed, while the use of traditional payment methods, such as credit and debit cards, is decreasing.

    The NPCI created the Unified Payments Interface, a real-time and instantaneous payment system, to enable mobile phone interbank transactions.

    According to the IMF’s Fintech Note, “Growing Retail Digital Payments: The Value of Interoperability,” UPI has expanded rapidly since its inception in 2016, while some stand-ins for cash usage have started to fall.

    India Now Processes 18 Billion Transactions Per Month

    “India currently pays more quickly than any other nation. Cash usage proxies have decreased concurrently,” the note stated. Using granular data spanning the universe of transactions on India’s UPI, an interoperable platform that has grown to become the largest retail quick payment system globally by volume, the note provides evidence in line with this methodology.

    According to the fintech report, UPI has expanded rapidly since its 2016 inception, although other indicators of cash usage have started to fall. In India, UPI currently handles over 18 billion transactions monthly and is the most popular electronic retail payment method.

    Fintech Notes provide policymakers with useful guidance on significant topics from IMF staff members. According to the report, interoperable payment systems like UPI offer an alternative to closed-loop systems and may encourage the use of digital payments. Users of various payment providers can make payments with ease thanks to these platforms.

    Digital Payments Outrun Cash Withdrawals

    The report went on to say that it is challenging to estimate cash usage since, particularly in the informal sector, cash transactions might take place anonymously and may not be documented in any ledger. “But we can estimate cash usage with the value of automated teller machine (ATM) withdrawals in each district,” the note continued. “A very similar picture emerges when we compare the effect of integration on transaction values to cash withdrawals,” it added.

    According to the note, areas that experience higher rises in de facto interoperability see a significant and sustained increase in the total number of digital payments compared to cash withdrawals following integration.

    According to this data, interoperability can help promote the shift away from cash and the use of digital payments. Maria Soledad Martinez Peria, Divya Kirti, and Alexander Copestake wrote the fintech note.

    The authors added that regulators should keep an eye out for the rise of dominant private providers and be ready to intervene to preserve a completely open, interoperable, and competitive system as the interoperable platform develops and additional providers join.

    According to the note, the system operator should ensure that its design decisions support the interoperable ecosystem’s health at every stage of development by consulting with existing and prospective private sector partners.

  • PhonePe and Google Pay Are Losing Ground to Newcomers in the Online Payment Space

    As smaller companies gained headway in India’s unified payments interface in June, the share of total transactions processed by Walmart Inc.-owned PhonePe and Alphabet Inc.’s Google Pay declined slightly. From 48.67% in May to 48.37% now, PhonePe’s percentage of all UPI transactions has decreased.

    According to data issued by the National Payments Corporation of India, Google Pay’s fraction decreased from 37.18% last month to 36.76%. The total number of transactions processed by the UPI network in June was 13.88 billion, down 1% from the previous month.

    New Entrants Giving a Tough Run to Established Players

    Many new companies have recently entered the UPI payments market. More than 80% of the market is controlled by PhonePe and Google Pay, but new competitors are threatening their supremacy.

    For example, in June, there was a 17% increase to 75 million UPI transactions on the apps of Axis Bank Ltd. and a 20% increase to 35.7 million transactions on the Navi app. Another UPI payment option is super.money, which was introduced by Flipkart, a subsidiary business of PhonePe and an eCommerce giant in India. The JioFinance app, developed by Mukesh Ambani’s Jio Financial Services, also joined the competition, allowing users to access the growing financial scene in India.

    Paytm Comes to a Standstill

    Paytm, which was experiencing a regulatory setback, managed to maintain its 8% market share from the previous month, which indicates that the market loss that has been occurring since the beginning of the year has come to a standstill.

    After the Reserve Bank of India issued an order earlier this year to come close to shutting down Paytm’s banking unit, the company’s net loss for the first quarter of the fiscal year, which ended in June, more than doubled to INR 8.39 billion, which is equivalent to $100 million.

    Cred Becomes the Fourth-Largest Player in the Game

    Based on the information provided by the NPCI, CRED has established itself as the fourth largest player in the processing of UPI payments. It is interesting to note that it has exceeded Amazon Pay, WhatsApp, and BHIM, and it has handled more than one-third of the total value of transactions that Paytm has processed in the past month.

    Praveena Rai, the chief operating officer (COO) of the National Payments Corporation of India (NPCI), has stated that the Unified Payments Interface (UPI) is gaining approximately 6 million new users each month.

    In addition, the NPCI has established a lofty objective of reaching one billion transactions per day within the next several years.

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  • PayPal – Empowers Digitalization with its Secured Online Payments!

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

    The transaction is the heart of the developing business world. It revolutionizes the global economy with its circulatory nature. Safety and Reliability are the main factors that define what the best transaction is, and thus describe the company PayPal.

    PayPal, a company based in the United States, is a digital payment platform that allows individuals and businesses to send and receive money online. It is widely accepted as a payment method for online transactions and can also be used for in-store purchases. PayPal also offers other services such as money transfers and the ability to pay bills and make purchases through a mobile app. It is a fast, secure, and convenient way to manage money.

    Let’s go through the Amazing Journey of PayPal along with getting a glance at PayPal’s Business Model, Founders, Revenue, Growth, Competitors, and more.

    PayPal – Company Highlights

    Startup Name PayPal
    Headquarters California, United States
    Sector Financial technology
    Founders Peter Thiel, Max Levchin, Luke Nosek, Ken Howery, and Yu Pan
    CEO & President Dan Schulman
    Founded December 1998
    Revenue $25.6 Bn (2022)
    Valuation $87.19 Bn (Jan 2023)
    Parent Organization PayPal Payments Private Limited
    Website www.paypal.com

    PayPal – About
    PayPal – Founders and Team
    PayPal – Vision and Mission
    PayPal – Name, Tagline, and Logo
    PayPal – Growth and Revenue
    PayPal – Business and Revenue Model
    PayPal – Competitors
    PayPal – Achievements
    PayPal – Future Plans

    PayPal – About

    PayPal was established as ‘Confinity’ in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. The company functions as a payment processor in many e-commerce sites, and auction sites. PayPal’s first electronic payment was launched in 1999. Being the PayPal platform, Braintree, Venmo, and Xoom enable users in flexible transactions with different currencies. The company was acquired by eBay in 2002 and got separated in 2015.

    PayPal – Founders and Team

    PayPal was founded in 1999 by Max Levchin, Peter Thiel, and Luke Nosek.

    Dan Schulman is the President and CEO of PayPal. He did his Bachelor’s from Middlebury College and an MBA from New York University Stern School of Business. He was the former president of Sprint’s Prepaid Group and he was also the CEO of Virgin Mobile. He now works towards democratizing the financial services of billions of people.
    The core team of PayPal is as follows:

    • Mark Britto – EVP, Chief Product Officer
    • John Rainer – CFO and EVP, Global Customer Operations
    • Louise Pentland – EVP, Chief Business Affairs and Legal Officer
    • Jonathan Auerbach – EVP, Chief Strategy, Growth, and Data Officer
    • Peggy Alford – EVP, Global Sales
    • Aaron Karczmer – Chief Risk Officer and EVP, Risk, and Platforms
    • Sri Shivananda – SVP, Chief Technology Officer
    • Franz Paasche – SVP, Corporate Affairs
    • Gabrielle Rabinovitch – VP, Investor Relations

    PayPal – Vision and Mission

    PayPal’s vision is to democratize financial services and empower people and businesses to prosper in the global economy.

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    ‘Paying your Pal’ is the focus of the company, which gave rise to the name ‘PayPal’. ‘Because you have to’ and ‘Safe Hai’ are the taglines that PayPal used before.

    PayPal Logo
    PayPal Logo

    PayPal – Growth and Revenue

    PayPal’s revenue for the twelve months ending September 2022 was $27.053 billion, a 10.11% increase from 2021.

    PayPal currently has over 432 million active users with more than 200 markets around the world.

    PayPal – Funding and Investors

    PayPal has raised a total of $216M over six different funding rounds.

    Date Stage Amount Investors
    January 1999 Seed Round Undisclosed Confinity
    July 1999 Series A $3M BlueRun Ventures
    January 2000 Series B $23M Clearstone Venture Partners, Goldman Sachs
    April 2000 Series C $100M Madison Dearborn Partners
    February 2001 Series D $90M ING, Credit Agricole
    July 2015 Secondary Market Undisclosed Public
    July 2018 PIPE Undisclosed Third Point
    July 2022 PIPE – II $2B Elliott Management

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    PayPal – Business and Revenue Model

    PayPal charges its customers and merchants with net transaction fees which are based on Total Payments Volume. It also makes money through other value-added services such as from interest and fees earned on loans.

    PayPal – Competitors

    Google Wallet, Skrill, Wepay, and 2checkout are some of the biggest competitors of PayPal.

    PayPal – Achievements

    In the Forbes list, PayPal ranks 123rd among World’s Top Female-Friendly Companies (2022) and 45th in World’s Best Employers (2022). It is also recognized as America’s Best Employers By State (2022).

    By revenue, PayPal was ranked 143rd on the 2022 Fortune 500 of the largest US corporations.

    Year Title Rank
    2022 World’s Top Female-Friendly Companies 123
    2022 World’s Best Employers 45
    2022 Best Employers for Women 282
    2022 Global 2000 216
    2022 Best Employers for Diversity 20
    2022 America’s Best Large Employers 26
    2021 America’s Best Employers 8
    2021 Just Companies 26
    2020 World’s Most Valuable Brands 67
    2019 Top 100 Digital Companies 34
    2019 Top Regarded Companies 5
    2018 Growth Champions 218
    2018 America’s Largest Public Companies 102

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    PayPal – Future Plans

    Paypal has several plans and initiatives for the future, including expanding its services to more countries and regions, increasing the number of businesses that accept PayPal as a payment method, and developing new products and features to enhance the user experience.

    Some of the specific plans that have been announced include the launch of a new service called “PayPal Commerce Platform” which allows businesses to easily manage their transactions across multiple sales channels, and the development of new technology such as biometric authentication to make payments more secure.

    Additionally, Paypal is planning on expanding its cryptocurrency capabilities by allowing users to buy, hold, and sell digital assets.

    Conclusion

    PayPal is a widely-used and convenient online payment platform that allows individuals and businesses to easily send and receive money. With its secure and user-friendly features, it has become a popular choice for online transactions.

    FAQs

    Who is the founder of PayPal?

    Ken Howery, Max Levchin, Luke Nosek, Yu Pan, and Peter Thiel are PayPal founders.

    Where is the new owner of PayPal?

    Dan Schulman is the current president and CEO of PayPal, and the former eBay CEO John Donahoe is serving as chairman.

    Where is PayPal headquarters?

    PayPal’s corporate headquarters are in San Jose, California, U.S., whereas the operative center is in La Vista, Nebraska, U.S.

    Is it free to use PayPal?

    Yes, it is free to use PayPal unless it’s a business transaction involving currency conversion or you want an instant bank transfer.

  • 5 Best Alternatives for Stripe: All You Need to Know

    The world has to come to a point where we can do anything with just a touch or a click. From shopping to dating, everything can be done online. There is hardly anyone who is not taking the benefits of the digital world. It is making our life easier and more convenient. Thanks to this, our money transactions can also be done online.

    Digital transactions have taken the world by storm and almost everyone with a smartphone or a computer wishes to switch to digital payments. Not only digital payments are quick, seamless and efficient, but they have also become the need of the hour owing to the pandemic. In this article, we will talk about Stripe, which is a payment processing platform and the best alternatives it has. So. let’s get started.

    What Is Stripe?
    Alternatives to Stripe Payments Processor:
    PayPal
    Square
    Adyen
    Venmo
    Authorize.net

    What Is Stripe?

    Stripe Website
    Stripe Website

    Stripe is an integrated suite of payment products for e-commerce, applications and online marketplaces for accepting and sending out payments, from and to users. Stripe offers payments through the majority of financial technologies encompassing cards, checkout flows, and other digital transaction services that are constantly updated. Moreover, with over 99% uptime interface, scalability and best-in-class ML models, Stripe helps you avoid frauds and scammers and enhance revenue.

    Although Stripe is one of the best payment processors, there are other applications which offer similar functionalities with different plans and pricing. Since different websites and applications have different requirements, a single plan might not necessarily cater to the needs of all such applications. Moreover, Stripe still isn’t available to use in some countries and costs more than many other payment processors. Hence, here we compare different payment processors, to help you decide which suits you best.

    Alternatives to Stripe Payments Processor:

    PayPal

    PayPal Website
    PayPal Website

    Paypal is a payments processor, and an excellent alternative to Stripe, owing to its fast working and seamless transactions. It offers payments for both individual retailers and businessmen, and larger businesses and enterprises, which include shopping on eCommerce websites, payment returns, B2B payments, and freelancer fees. PayPal offers all such amenities with buyer protection, for safekeeping of your finances, with an easy-to-set up PayPal account and login.

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    Paypal for Business

    About 54% of the customers tend to buy a product when PayPal is available at the checkout, which sure doesn’t seem much, but makes a difference nevertheless. For business needs, PayPal allows you to both receive payments from customers all over the world and make payments in over 100 different currencies and 200 marketplaces. It also furnishes 24/7 fraud protection along with seamless integrations through APIs and SDKs. Moreover, Paypal lets you get paid even if you do not have a professional website or an application with email payment requests, invoices, and personalized payment links.

    Features offered by PayPal

    • Payment through PayPal is extremely fast.
    • Almost every country accepted PayPal
    • The conversion of your local currency through PayPal is quite easy.
    • The conversion fee in PayPal is lower compared to other payment gateways.






    Checkout Paypal


    Square

    Square Website
    Square Website

    Square payments gateway is all about accepting payments, irrespective of the online or offline market. It helps you accept payments, fast and secure with amenities such as card swipe through Square Reader, ApplePay or Google pay with NFC technology, online payouts, invoices and other digital means. Without any extra costs or long-term contracts, Square makes payouts as fast and seamless as possible, with affordable pricing. It furnishes you with the same costs for every card, with consistent and clear bills to pay monthly.

    Amenities for E-commerce

    Square offers solutions for selling online as an E-commerce website, as well as on social media such as Instagram. The solutions offered by Square are quite affordable and cost you only after you have actually started selling. Moreover, it offers more than just payment services, for running your established or thriving business, such as SEO to increase your search engine rankings and reach more customers. Square provides flexible tools, tailored to your specific business needs and scalability, and hence, can be suited to any number of enterprises or e-commerce sites.

    Features Offered by Square

    • Square is one of the quickest payment processors which offers to complete transactions within a business day.
    • Square Point of Sale has an easy-to-set-up interface, offering real-time analytics and an intuitive inventory.
    • It furnishes the users with a free Square Business Debit Card, to store and spend funds, while also keeping an eye on their cash flow.
    • Square doesn’t require you to create a merchant account, pay a statement fee, charge-back fee or deal with payment disputes, with the bank.
    • Be it the security of your data, or suspicious activity around your account, Square offers all-around protection and shields you against monetary fraud.

    Adyen

    Adyen Website
    Adyen Website

    Adyen is a payments processor which helps you accept payments, expand your domain, enhance conversions and hence revenue, and also offers expert suggestions from experienced professionals. Adyen allows payment through in-app purchases, through websites, and in-store purchases without any location barriers.

    Products offered by Adyen

    Adyen offers products such as Online Payments, Point of Sale, Platforms, and Unified Commerce with global coverage and an effort to increase authorization rates. Embedded dashboards with organized statistics can be quite helpful when analyzing customer data to get insights on performance and reporting. Adyen’s Point of Sale offers a certified PCI-compliant terminal with simple API integrations and robust platform stability. Platforms allow you to accept payments with your preferred interface on a website, mobile application or through the point of sale along with faster checkouts and any preferred currency.

    Features Offered by Adyen

    • The most wholesome feature of Adyen is that it offers global acquiring through a single platform without any integrations, saving you the trouble of managing different payment methods.
    • With cards ranging from Credit cards to Master cards to Alipay wallets, Adyen offers users a plethora of payment methods, to add to their checkout.
    • Adyen uses a data-driven risk management approach, and with the help of a cross-country data network, identifies frauds behind false declines and monetary cheats.
    • With the help of ML-driven models, Adyen helps you increase revenue with better authorization rates, customer experience, and low payment costs.
    • Adyen also allows users to understand customer behaviour, geography, payment flow, approvals and declines through insights into customer data.

    Venmo

    Venmo Website
    Venmo Website

    With over 60 million users, Venmo helps clients pay and accept payments fast and safely. With Venmo, you don’t just pay; you get to connect with friends and interact with emojis and stickers. You also get to manage your privacy settings, with no account set-up or money transfer costs. Venmo also allows you to seamlessly transfer money between your Venmo and bank accounts respectively.

    Venmo for Business

    Venmo allows you to accept payments with in-app purchases, online purchases, or in person, in a way very similar to the transactions between your friends, giving you, and your customer, a personalized experience. The checkout is seamless and familiar. Moreover, using Venmo Business allows you to get noticed by the 60 million other Venmo users, where your friends and customers can share their personalized experiences on their feed, in turn, boosting your reach. With just a single login credential, you can switch between business and personal profiles, and manage the business profile efficiently. Venmo also offers touch-free checkout with the use of unique QR codes for your business.

    Features Offered by Venmo

    • Venmo offers a business suite, in-app and online payments as well as Venmo debit cards.
    • Venmo charges less when compared to the other payment processors and hence, enhances sales of your business.
    • You get to discover places your contacts visit more often, and what they buy; while also being discovered for your side hustles, to grow your own business.
    • Venmo Debit card is another such utility it offers, that helps you pay your favourite stores and also get cashback, while all the activities involving the card can be monitored through the Venmo application.

    Authorize.net

    Authorize.net Website
    Authorize.net Website

    Authorize helps you make and accept payments with a variety of different options such as debit/credit, card e-checks to digital payments, among others. With a developer centre equipped with APIs, SDKs, and the best integration solutions such as a simple integrated ‘Buy Now’ button, Authorize offers solutions for eCommerce, Point of Sale, and card payments, all under one suite.

    E-commerce Solutions Offered by Authorize

    It can often be tricky to find the payment processing solution that fits all your business needs; lucky for you, Authorize helps you with all of that and more. Payment gateways authorize and process customer transactions until the purchase is made and the money transferred. This involves the authorization of the funds, then initializing payment and finally transfer of money from the customer’s card to your merchant account. Authorize helps you with not only the above but also comes with PCI-DSS compliance, fraud protection and prevention, solutions for multiple payment types and automated payments.

    Features Offered by Authorize

    • Authorize offers 13 fraud filters, which help identify and prevent you from being duped of your money. These filters include Velocity filter, IP filter, and transaction filter among several others.
    • Authorize furnishes you with a Customer Information Manager with information such as billing, shipping, and payment, in compliance with PCI DSS standards.
    • Automated Recurring Bills is another feature offered by Authorize which assists users with recurring, monthly instalments, or subscription-based plans.
    • For avoiding lost sales and payment interruptions, Authorize constantly keeps your card information updated. This also helps deliver customers, an amazing experience.
    • Get paid faster with Invoices. Invoices can be sent via customized email with your logo, and get paid from any mobile device.

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    Conclusion

    The above-mentioned are some of the best alternatives to Stripe, which offers equally proficient functionality and features. The cost per transaction for most payment processors differs by less than 1-2%, and most of them have similar transaction charges. All in all, the e-commerce industry is on the rise, and you might need an online payment processor to keep up with industry standards.

    FAQs

    What is Stripe?

    Stripe is an integrated suite of payment products for e-commerce, applications and online marketplaces for accepting and sending out payments, from and to users.

    What are some best alternatives of Stripe?

    Some of the best alternatives of Stripe are:

    • PayPal
    • Square
    • Adyen
    • Venmo
    • Authorize.net

    Stripe is popular because of its fast and secure payment processing.

  • Harshil Mathur Success Story- How he Founded Razorpay

    As India’s digital environment grows and develops, so does market rivalry, with a growing number of entrepreneurs prepared to take a chance on something off the usual path. The emergence of technology, with all of its benefits, has opened up a world of possibilities and chances for a wide range of industries, providing the foundation for the contemporary world’s advancement. The internet payment business is one such industry.

    We’ve come a long way from the days when sending money was a complicated and time-consuming operation. Because of the plethora of platforms that have been seeking to set up simple and secure online money transfer services, the operation may now be completed with a single sweep of our fingertips.

    One of the first names that come to mind when we think of such platforms is Razorpay, a payment gateway platform that provides a safe and secure payment system to all customers in India. And the amazing young man behind this unicorn startup is less recognized but has huge contributions to the sector. He is Harshil Mathur. Know more about the co-founder of Razorpay.

    Name Harshil Mathur
    Occupation Entrepreneur
    Founded Razorpay
    Education Bachelor of Technology (B.Tech.) from IIT Roorkee
    Occupation CEO of Razorpay
    Known for Co-founder of Razorpay

    About Harshil Mathur
    Harshil Mathur – Education
    Harshil Mathur – Startup Journey
    Harshil Mathur – Idea behind Razorpay
    Harshil Mathur – Thriving during Covid-19
    Harshil Mathur – Investments
    Harshil Mathur – FAQ

    About Harshil Mathur

    Harshil Mathur, the CEO of Razorpay, is an Indian businessman, author, and entrepreneur. In the fintech field, he has brought his company to the peak of success. Mathur offers advice to people who want to succeed in business and want to understand his methods. He doesn’t keep things hidden; instead, he freely discloses his method for reaching business objectives. That’s the spirit he works with.

    Harshil considers a 9-to-6 corporate job to be his Achilles heel. Every day is a new struggle for him. It may seem like an entrepreneur’s cliché, but the urge to be pushed, to be on his toes every day addressing a new problem, is what keeps him going and that is also why he decided to go out on his own in the first place.

    Mathur had over 100 rejections from investors before finding a corporation prepared to take a chance on his business concepts. He believed he had a great concept for a full-stack integrated payments solution firm that would change the industry, but he needed venture financing to get it off the ground. He didn’t give up, and after more than 100 rejections, he was able to secure the funding he needed to establish his new business.

    Harshil Mathur – Education

    From 1997 through 2009, Mathur attended Seedling Public School. He earned his bachelor’s degree with a prime focus on mathematics in 2009. He took part in Exnora Academics when he was there. He enrolled at the Indian Institute of Technology Roorkee’s Technology department in 2009. He majored in software engineering. He was associated with SDSLabs, the Hobbies Club, and ASME while he was completing his graduation.

    In 2013, he received his BTech degree from his college after completing his studies. In 2015, he was a part of the YCombinator W15 Batch, where he was mentored by Paul Buchheit and Dalton Caldwell.

    Y Combinator W15 Batch
    Y Combinator W15 Batch

    Harshil Mathur – Startup Journey

    In June of 2014, he began working for Schlumberger as a Wireline Field Engineer. He worked in Mumbai for nine months before departing in February 2014. He resigned after less than a year on the job to seek other business opportunities.

    He started working on Razorpay right away and created the company, which consumed all of his time and attention. He teamed up with Shashank Kumar, his college friend, to create a payment gateway for small companies having trouble processing internet purchases.

    Shashank Kumar
    Shashank Kumar

    Their fintech business, Razorpay, now processes more than a third of all online payments in India and accepts payments from more than 50 banks and credit card providers.

    Even while the epidemic raged, Razorpay earned unicorn status in October when it secured $100 million in a funding round sponsored by Singapore’s sovereign wealth fund GIC, valuing the company at $1 billion. GIC co-led another round for $160 million in mid-April, when India was dealing with the second wave of Covid-19 infections, bringing Razorpay’s worth to $3 billion.

    Harshil Mathur – Idea behind Razorpay

    According to Harshil, it was critical to discover a market that is underserved, understand the issues that this market encounters, and strive to create a comprehensive solution that is easy to implement. This is what Razorpay performed in a congested payments industry. The firm saw that the incumbent players were mainly interested in digitised transactions and payments for larger vendors.

    The role of the smaller merchants was undervalued. Harshil and his partner decided to create something that would allow this large audience to take payments online as quickly and easily as feasible. They then identified the obstacles in completing this task and attempted to create a system that would remove these impediments.

    They added many other features throughout time, but the idea of growth remained the same. This is shown in their success, as existing customers continue to use Razorpay and new customers sign up because they appreciate what Razorpay offers.

    Harshil Mathur – Thriving during Covid-19

    “Our development is dependent on the businesses we serve—if they expand, we grow,” Mathur Said. As a result, we turned our attention to industries with less physical contact that were predicted to thrive as a result of the Covid-19-induced lockdown.”

    Razorpay centred its focus on client acquisition on e-commerce, gaming, B2B firms that assist enterprises to digitise, and online education. Small businesses, such as grocery stores, schools, and offline merchants, who had never utilised internet payments before and wanted to digitise transactions, were also seen as a big commercial opportunity by the corporation.

    “Not only did this help us obtain a huge number of customers, but it also helped us develop alongside these industries after the lockdown limitations were lifted,” Mathur added.

    Harshil Mathur – Investments

    Date Organization Name Funding Round Money Raised Lead Investor
    Nov 16, 2021 Toplyne Seed Round $2.5M –
    Jul 14, 2021 OneCode Seed Round $5M –
    Feb 8, 2021 Newton School Series A $5M –
    Feb 8, 2021 GlobalFair Seed Round $2M –
    Jan 19, 2021 Volopay Seed Round $2.1M –
    Dec 15, 2020 Hashnode Seed Round $2.1M –
    Jan 14, 2020 Farmley Seed Round $2M –

    Mathur has made a number of significant investments outside of Razorpay. He has given a substantial quantity of money to help other business owners. All that could be identified is that he has invested an unknown sum in a seed round to Farmley in 2020.

    Following that, $2.1 million was invested in Hashnode’s seed round, $2.1 million was invested in Volopay in January 2021, $2 million was invested in GlobalFair in February 2021, and $5 million was invested in Newton School in February 2021 for a round of Series A funding.

    He understands how tough securing the initial round of seed capital can be, and he assists other fledgling businesses in getting off the ground.

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    Conclusion

    Mathur and his partner have won many awards for their Razorpay startup’s incredible success despite the odds. Fintech, he says, is the strongest sector in India right now. Hence he knows that his startup is on the right path and will continue to grow in many ways.

    Harshil Mathur – FAQ

    Who is Harshil Mathur?

    Harshil Mathur is an Indian entreprenur, author and the co-founder and the CEO of Razorpay.

    What is the education qualification of Harshil Mathur?

    He studied Bachelor of Technology (B.Tech.) from IIT Roorkee from 2009 to 2013.

    When did Harshil Mathur founded Razorpay?

    Harshil Mathur co-founded Razorpay in 2014.

  • Instamojo or Razorpay – The better Online Payment Gateway

    As of today, 160 million unique digital payments users are found just in India, which accounts for about 13% of the population. In European countries, the percentage is as high as 68%. The pandemic has further boosted the use of digital payments. This triggers a question, that being, “Which is the best suited platform for digital transactions?”

    Here, we are going to discuss and compare two digital payments platforms, namely Instamojo and Razorpay, both of which were founded in India, with a difference of 1 year. Although the primary difference in the interface one would notice, is that while Instamojo is more of a payment processor and uses payment gateway in the back-end, Razorpay is in itself a proficient payment gateway with a plethora of other options such as payment links and webhooks, there are many other factors which draw the line.

    Instamojo

    Razorpay

    Instamojo vs Razorpay
    Conclusion
    Frequently Asked Questions

    Instamojo

    Founded in 2012 and based in Bengaluru, Instamojo is a convenient and adaptable payment gateway solution, which seamlessly integrates with websites through the use of feasible APIs. When it comes to online payments, the user usually looks for security, transaction speed, and transparency. Instamojo has all of these to offer and more.

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    Instamojo digital payments platform

    Pros of using Instamojo:

    • Instamojo has an excellent pricing model compared to its counterparts. With a freemium approach, the its basic services come free of cost, while the more advanced features are priced.
    • It also offers management of gift cards for a positive customer experience.
    • Instamojo also has an efficient fraud protection algorithm to prevent unnecessary revenue losses.

    Cons of using Instamojo:

    • Instamojo doesn’t work for you if you are a freelancer. It is specifically built to cater to the needs of small to large enterprises.
    • There is no subscription based plan like Razorpay.
    • Instamojo has a relatively limited availability, and is not available on WinPhone, IOS or Macintosh.

    The interface is designed in such a way that the user has the convenience to provide payment links on their website, add pay buttons with integrated payment gateways. Instamojo is a multi-channel payments collection, encompassing some great amenities such as effortless checkout and payment links. Through the use of payment APIs, platform plugins and webhooks, Instamojo integrations with a website or a stack has never been easier. Along with that, its Android SDK enables payment through applications through Android integrations.

    Features offered by Instamojo:

    Instamojo free version Instamojo premium version
    Payment gateway available Payment gateway available
    Transaction fee is 5% + 3 Transaction fee is 2% +3
    Allows 1 picture for each product Allows 10 pictures for each product
    No offers or discounts Offers, coupons, discounts and gift cards

    All the mentioned payment methods come with payment analytics and a post payment customizable experience, which makes the experience of both, the user and the customer, an inordinate one.

    The analytics feature that Instamojo has to offer is no less than the payment aspect. It offers analysis and overall rundown of the sales performance which not only helps manage payments, but also offers insights as to where and in what domain the strong suite lies. It also allows you to Geo-navigate your customer base and engagement with real time performance comparison as well as gives a detailed look on the payments through an organized and user-friendly dashboard. Also, even if the payment fails, Instamojo adds it as a lead as well as allows you to communicate with your potential customers to make their experience a bit more personalized.

    Instamojo is more than just a payment gateway. Instamojo provides complete business solutions right from business capital requirements shipping & logistics.

    Instamojo offers a suite of products to help businesses grow. The business solutions are as follows :

    1. mojoCommerce: mojoCommerce is a free online store, you can sell your physical and digital goods through the platform.
    2. Smart Links: Smart payment links can be created with the help of Instamojo smart links. These smart links help to make payments faster and collect customer data.
    3. Instamojo App Store: As a business, you can connect your favorite apps with Instamojo through the Instamojo app store.
    4. mojoCapital: mojoCapitals allows people to simplify and resolve their business cash flow requirements and capital requirements.
    5. mojoXpress: mojoXpress provides delivery services for businesses. It delivers to more than 12000 pin codes in India.Instamojo for Developers: Simple Payment APIs and Plugins to integrate into websites or mobile apps.

    Razorpay

    Razorpay was founded in 2013 and is based in Bengaluru as well, with the current serving CEO, Harshil Mathur since 2014. One of the first few things that crosses your mind when it comes to a successful payment application is its user base, because that is what reflects its reputation and usage. That is exactly where Razorpay excels; with a market of more than 8,00,000 users, Razorpay flaunts an interactive interface with features such a automated receipts and custom payment pages.

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    Razorpay online payment gateway 

    Pros of using Razorpay:

    • There are a plethora of Razorpay integrations which you can embed, including OpenCart, WordPress, and Wix.
    • It offers a standard and enterprise edition for user specific needs. Both the models are completely customizable with branding features.
    • Razorpay offers its users 24/7 live customer support.
    • It also offers a fixed processing charge, which is usually less than Instamojo, although by a small margin.

    Cons of using Razorpay:

    • There is no standard or free version of Razorpay, which although does not make it any less efficient, the users do not really have a trial option.
    • Offers no customer friendly amenities such as gift cards.
    • Razorpay does not use Secure Sockets Layer(SSL) support, and hence, is less secured.

    With a payment gateway that supports Credit/Debit cards, Netbanking with over 50 banks, UPI and various mobile wallets, Razorpay has a plethora of payment modes which make it customer friendly and accounts for a greater transaction number due to the availability and variety of payment methods. Its powerful and interactive dashboard offers in-depth analysis and statistics on payments, invoices, and refunds making it easy to use. Also the real-time stats help user in strategic and performance based decisions and generate custom reports.

    Features offered by Razorpay:

    Razorpay Standard features Razorpay Enterprise features
    Designed for small and medium business Designed for big enterprises
    Transaction charges 2-3% Custom pricing for business needs
    Support via email and call Offers 24/7 priority support
    Complete online activation Online activation within 24 hours

    Many a times, a customer is retained by the ease of interface and transaction if you have an online marketplace. Razorpay offers seamless and android integrable SDKs(one of the lightest there is, with about just over 200KB) with features such as auto update and auto fill OTP, which helps provide customers, the best experience.  Thirdwatch, a subsidiary of Razorpay, helps you track fraud customers and recognize non deliverable addresses, saving users from unnecessary revenue loss. It is an AI based engine which recognizes and flags the high risk addresses with a red and low risk ones with green color, which is quite convenient, to say the least.

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    Best Indian payment gateways

    Comparison between Razorpay and Instamojo

    Razorpay Instamojo
    24/7 tech support and live rep Does not offer live rep
    Built for all MSMEs and caters to individuals as well Does not support individuals and/or freelancers; only enterprise support
    Does not offer SSL support making it less sequre Secured through Secured Sockets Layer(SSL)
    Razorpay Pricing for MasterCard, Debit Card, Visa and net banking is 2% Pricing for MasterCard, Debit Card, Visa and net banking is 2% + INR 3 and 5% for digital goods
    Offers mobile optimization on standard and enterprise version Does not permit mobile optimization
    Permits recurring payments Does not allow recurring payments
    Auto-update feature updates the application with every new mobile wallet update to hit the market No auto-updating available for mobile wallets
    Failed payments are not handled as well Failed payments are altered into leads and are organised
    Does not allow personalised customer interaction Allows a more personal interaction with customer

    Conclusion

    To say, one works better than the other would be quite unjust, since both of these applications excel at user specific areas. While Instamojo charges a little more than Razorpay, it also offers SSL security. Moreover, while Razorpay offers mobile optimization for both of its versions, Instamojo gives away gift cards for better customer service. An apt comparison would be that Razorpay can be used for even individual business and freelancing purposes, on the contrary, Instamojo could be slightly more suited to bigger enterprises which demand security.