Which is the cheapest online payment gateway in India?

 Which Is the Cheapest Online Payment Gateway in India?

When evaluating the most cost-effective online payment gateway in India, it's essential to consider both transaction fees and additional charges. Based on available information, the following gateways offer competitive pricing:



1. Instamojo

  • Transaction Fees:

    • Physical goods: 2% + ₹3 + GST

    • Digital goods: 5% + ₹3 + GST

  • Convenience Fee: Businesses can pass on a 3% + ₹3 + GST fee to customers, effectively reducing their own costs to zero.

2. Easebuzz

  • Transaction Fees: Approximately 1.5% on average, making it one of the lowest in the industry. 

  • Setup Costs: No setup charges, and it offers tailored pricing to suit various business needs. 3. Cashfree

  • Transaction Fees:

    • Standard transactions: 1.95%

    • EMI and Pay Later options: 1.50%

  • Additional Features: Offers instant settlements and a wide range of payment modes. Cashfree

Comparison Table

GatewayTransaction FeeConvenience FeeSetup CostNotable Features
Instamojo2% + ₹3 + GST3% + ₹3 + GST₹0Easy integration, free setup
Easebuzz~1.5%Not specified₹0Tailored pricing, no setup charges
Cashfree1.95%Not specified₹0Instant settlements, multiple payment modes

Conclusion

For businesses prioritizing low transaction fees, Easebuzz offers the most competitive rates. However, Instamojo provides flexibility with its convenience fee model, allowing businesses to pass on charges to customers. Cashfree stands out for its additional features like instant settlements and a broad range of payment options. The choice depends on your specific business needs and transaction volumes.

FAQ

Q: Are there any hidden charges with these payment gateways?

A: Reputable gateways like Instamojo, Easebuzz, and Cashfree maintain transparent pricing with no hidden fees. However, it's always advisable to review the terms and conditions during onboarding.

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