RBI Approved – Payment Gateways in India in 2023
Payment gateways are essential for any online business that wants to accept payments from customers. They provide a secure and convenient way for customers to pay for goods and services online, and they can also help businesses to improve their checkout conversion rates.
There are many different payment gateways available in India, and each one has its own unique features and benefits. When choosing a payment gateway for your business, it is important to consider your specific needs and requirements, such as the types of payments you want to accept, the countries you want to serve, and the fees and charges associated with the gateway.
Here is a list of the best payment gateways in India in 2023:
1. PayU
PayU is one of the most popular and trusted payment gateways in India. It offers a wide range of payment methods, including credit cards, debit cards, net banking, UPI, and wallets. PayU is also used by many large businesses in India, such as Amazon, Flipkart, and Myntra.
Website: https://www.payu.in/
Contact details: +91 124 422 5555
2. Razorpay
Razorpay is another popular payment gateway in India. It is known for its ease of use and its wide range of features. Razorpay also offers a variety of payment methods, including credit cards, debit cards, net banking, UPI, and wallets.
Website: https://razorpay.com/
Contact details: +91 888 222 3585
3. Cashfree
Cashfree is a relatively new payment gateway in India, but it has quickly gained popularity due to its competitive pricing and its wide range of features. Cashfree offers a variety of payment methods, including credit cards, debit cards, net banking, UPI, and wallets.
Website: https://www.cashfree.com/
Contact details: +91 80 4666 2222
4. CCAvenue
CCAvenue is one of the oldest and most well-established payment gateways in India. It is known for its reliability and its wide range of features. CCAvenue offers a variety of payment methods, including credit cards, debit cards, net banking, UPI, and wallets.
Website: https://www.ccavenue.com/
Contact details: +91 99 711 711 71
5. Instamojo
Instamojo is a good option for small businesses and startups. It is easy to set up and use, and it offers a variety of payment methods, including credit cards, debit cards, net banking, UPI, and wallets.
Website: https://www.instamojo.com/
Contact details: +91 80 4666 2222
7. MobiKwik
Website: MobiKwik
MobiKwik, known for its digital wallet, also provides a payment gateway solution. It offers quick onboarding, secure transactions, and supports various payment methods. MobiKwik’s strong focus on security ensures that customer data is protected.
List of Existing Entities Which Have Received In-Principle Authorization
| List of Existing Entities Which Have Received In-Principle Authorization | |
| Sr. no | Name of the entity |
| 1. | 1Pay Mobileware Private Limited
|
| 2. | Airpay Payment Services Private Limited
|
| 3. | Amazon (Pay) India Private Limited |
| 4. | Cashfree Payments India Private Limited *
|
| 5. | Computer Age Management Services Limited |
| 6. | Digiotech Solutions Private Limited |
| 7. | Easebuzz Private Limited
|
| 8. | Finlogic Technologies India Private Limited |
| 9. | Futuretek Commerce Private Limited |
| 10. | Google India Digital Services Private Limited |
| 11. | IndiaIdeas.com Limited -BillDesk |
| 12. | Infibeam Avenues Limited
|
| 13. | Innoviti Payment Solutions Private Limited
|
| 14. | In-Solutions Global Limited
|
| 15. | Lyra Network Private Limited
|
| 16. | Mpurse Services Private Limited
|
| 17. | NSDL Database Management Limited |
| 18. | NTT DATA Payment Services India Limited
|
| 19. | Open Financial Technologies Private Limited
|
| 20. | Paymate India Private Limited
|
| 21. | Paysharp Private Limited
|
| 22. | Phi Commerce Private Limited |
| 23. | Pine Labs Private Limited
|
| 24. | Razorpay Software Private Limited *
|
| 25. | Reliance Payment Solutions Limited
|
| 26. | SRS Live Technologies Private Limited |
| 27. | Stripe India Private Limited
|
| 28. | Tyche Payment Solutions Private Limited |
| 29. | Vay Network Services Private Limited |
| 30. | Worldline ePayments India Private Limited
Worldline ePayments India Private Limited Phone: 022 6766 4481
|
| 31. | Xsilica Software Solutions Private Limited |
| 32. | Zomato Payments Private Limited |
List of Existing Entities Whose Applications are Under Process
| Sr. no. | Name of the entity |
| 1. | Adyen India Technology Services Private Limited |
| 2. | Appnit Technologies Private Limited |
| 3. | Bhartipay Services Private Limited |
| 4. | Dinero Payment Services Private Limited |
| 5. | Dreamplug Paytech Solutions Private Limited |
| 6. | Global Payments Asia-Pacific (India) Private Limited |
| 7. | Hiveloop Internet Private Limited |
| 8. | INSOnline India Private Limited |
| 9. | Instamojo Technologies Private Limited |
| 10. | Letzpay Solution Private Limited |
| 11. | LivQuik Technology (India) Private Limited |
| 12. | Marg Fintech Private Limited |
| 13. | Nomisma Mobile Solutions Private Limited |
| 14. | Paygate India Private Limited |
| 15. | PhonePe Private Limited |
| 16. | Senrysa Technologies Private Limited |
| 17. | Unimoni Enterprise Solutions Private Limited |
| 18. | Zaak Epayment Services Private Limited |
Existing Payment Aggregators Whose Applications Were Returned
| Sr. no | Name of the entity | Remarks |
| 1. | Freecharge Payment Technologies Private Limited | Application returned on 10.02.2023 |
| 2. | PayTM Payments Services Limited | Application returned on 25.11.2022 |
| 3. | PayU Payments Private Limited | Application returned on 10.01.2023 |
| 4. | Tapits Technologies Private Limited | Application returned on 10.02.2023 |
List of New Entities Which Have Received In-Principle Authorisation
| Sr. no | Name of the entity |
| 1. | Boku Network Services IN Private Limited
|
| 2. | Concerto Software & Systems Private Limited
|
| 3. | Finacus Solutions Private Limited
|
| 4. | Fourth Dimension Solutions Limited
|
| 5. | Groww Pay Services Private Limited
|
| 6. | Hitachi Payment Services Private Limited |
| 7. | Instanow Info Systems Private Limited
|
| 8. | Juspay Technologies Private Limited
|
| 9. | MMAD Communications Private Limited |
| 10. | Mswipe Technologies Private Limited
|
| 11. | Nehat Tech Solutions Private Limited |
| 12. | Payment Gateway Solutions Private Limited
|
| 13. | R360 Payment Services Private Limited |
| 14. | Resilient Payments Private Limited |
| 15. | Tata Payments Limited |
| 16. | Toucan Payments (India) Private Limited
|
| 17. | Transaction Analysts (India) Private Limited |
| 18. | Unlimint In Private Limited
|
| 19. | Zoho Payment Technologies Private Limited
|
List of New Entities Whose Applications are Under Process
| Sr. no. | Name of the entity |
| 1. | Aurionpro Payment Solutions Private Limited |
| 2. | Decfin Tech Private Limited |
| 3. | Digidios Payments Services Private Limited |
| 4. | Integra Micro Systems Private Limited |
| 5. | KGC Infotech Private Limited |
| 6. | Nium India Private Limited |
| 7. | Payglocal Technologies Private Limited |
| 8. | SBI Payment Services Private Limited |
| 9. | Sodexo SVC India Private Limited |
List of Payment Aggregators Whose Applications Were Returned / Withdrawn and Thus Cannot Operate
| Existing payment aggregators advised to stop online payment aggregation activity and close nodal / escrow account(s) within a period of 180 days from the date of return of application. | |||
| Sr no. | Name of the entity | Whether existing or / new payment aggregator | Remarks |
| 1. | Akonto Payment Solutions Private Limited | Existing | Application returned on 19.01.2023 |
| 2. | Aggrepay Payments Solutions Private Limited | Existing | Application returned on 08.02.2023 |
| 3. | BrokenTusk Technologies Private Limited (Withdrawn) | Existing | Application returned on 07.10.2022 |
| 4. | Ezetap Mobile Solutions Private Limited (Withdrawn) | Existing | Application returned on 10.10.2022 |
| 5. | Flexmoney Technologies Private Limited | Existing | Application returned on 17.10.2022 |
| 6. | fonePaisa Payment Solutions Private Limited | Existing | Application returned on 10.10.2022 |
| 7. | FSS Grameenpay Private Limited | Existing | Application returned on 02.02.2022 |
| 8. | Golden Legand Leasing and Finance Limited | Existing | Application returned on 20.01.2023 |
| 9. | Kopayments Private Limited | Existing | Application returned on 29.12.2022 |
| 10. | Paykun Payment Solutions Private Limited | Existing | Application returned on 02.02.2022 |
| 11. | Payswiff Solutions Private Limited | Existing | Application returned on 19.10.2022 |
| 12. | Synergistic Financial Networks Private Limited (Withdrawn) | Existing | Application returned on 07.10.2022 |
| 13. | Vmobo Mobile Private Limited | Existing | Application returned on 08.12.2021 |
| 14. | Volks Electronics Private Limited | Existing | Application returned on 03.12.2021 |
| 15. | Worldline India Private Limited (Withdrawn) | Existing | Application returned on 28.09.2022 |
| 16. | Wunderbaked Technologies Private Limited | Existing | Application returned on 20.01.2023 |
| 17. | Zenex E-Commerce Private Limited | Existing | Application returned on 03.12.2021 |
| 18. | Aceware Fintech Services Private Limited | New | Application returned on 29.11.2022 |
| 19. | AGDP Fintech Private Limited | New | Application returned on 15.12.2021 |
| 20. | Apexpay Technologies Private Limited | New | Application returned on 07.10.2022 |
| 21. | Asian Checkout Private Limited | New | Application returned on 20.10.2022 |
| 22. | BeBuoy Infoservices Private Limited | New | Application returned on 27.11.2020 |
| 23. | Bongdeal India Private Limited | New | Application returned on 10.11.2022 |
| 24. | CAMS Payment Services Private Limited | New | Application returned on 25.10.2021 |
| 25. | Cash Friend Fintech Private Limited | New | Application returned on 10.08.2022 |
| 26. | Commonwealth Inclusive Growth Services Limited | New | Application returned on 07.10.2022 |
| 27. | Ditya Finance Private Limited | New | Application returned on 10.12.2021 |
| 28. | E-Meditek Global Private Limited | New | Application returned on 30.09.2022 |
| 29. | ePaisa Services Private Limited | New | Application returned on 27.07.2020 |
| 30. | Eutro Agro Products Private Limited | New | Application returned on 10.11.2022 |
| 31. | GoKwik Commerce Solutions Private Limited | New | Application returned on 02.11.2022 |
| 32. | Hindon Mercantile Limited | New | Application returned on 10.01.2023 |
| 33. | InCashMe Mobile Wallet Service Private Limited | New | Application returned on 30.05.2022 |
| 34. | Indian Railway Catering and Tourism Corporation Limited | New | Application returned on 26.02.2021 |
| 35. | Ippopay Technologies Private Limited | New | Application returned on 13.02.2023 |
| 36. | Iserveu Technology Private Limited | New | Application returned on 23.09.2021 |
| 37. | Kashind Financiers Limited | New | Application returned on 10.12.2021 |
| 38. | Kedarpay Solutions Private Limited | New | Application returned on 12.01.2023 |
| 39. | Khatabook Technologies Private Limited | New | Application returned on 27.01.2023 |
| 40. | Kredx Platform Private Limited | New | Application returned on 07.12.2022 |
| 41. | Naffa Innovations Private Limited | New | Application returned on 13.10.2021 |
| 42. | Nearby Technologies Private Limited | New | Application returned on 26.07.2022 |
| 43. | Newbazaar Technologies Private Limited | New | Application returned on 10.10.2022 |
| 44. | Ola Financial Services Private Limited | New | Application returned on 28.09.2022 |
| 45. | Pay Point India Network Private Limited | New | Application returned on 28.10.2022 |
| 46. | Paytekk India Private Limited | New | Application returned on 14.10.2022 |
| 47. | Prevxee E-commerce (India) Private Limited | New | Application returned on 10.11.2022 |
| 48. | Rapyd Aggregator Network India Private Limited | New | Application returned on 29.09.2021 |
| 49. | Rupifi Technology Solutions Private Limited | New | Application returned on 10.11.2022 |
| 50. | Safee Peee India Private Limited | New | Application returned on 10.11.2022 |
| 51. | Safexpay Payments Aggregator Private Limited | New | Application returned on 22.11.2021 |
| 52. | Skilworth Technologies Private Limited | New | Application returned on 26.09.2022 |
| 53. | SPAY Fintech Private Limited | New | Application returned on 18.10.2022 |
| 54. | Twid Rewards Global Private Limited | New | Application returned on 07.12.2022 |
| 55. | Virtual Galaxy Infotech Private Limited | New | Application returned on 28.12.2020 |
| 56. | Yalamanchili Software Exports Private Limited | New | Application returned on 29.08.2022 |
| 57. | Zhudao Infotech Private Limited | New | Application returned on 06.01.2023 |
Note: – Note This information is given based on my personal knowledge and experience. Please refer reference for more info.
For Latest Information visit
- https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043
- Reserve Bank of India – Publications (rbi.org.in)
- RBI Grants In-Principle Approval to 50 Payment Aggregators (india-briefing.com)
Below Information can be browsed on rbi website
- RBI Certified Financial Market Infrastructure Entities
- RBI Certified Central Counter Parties
- RBI Certified Retail Payments Organisation
- RBI Certified Bharat Bill Payment Central Unit (BBPCU)
- RBI Certified Bharat Bill Payment Operating Units (BBPOUs)
- RBI Certified Cards Payment Networks
- RBI Certified Cross border Money Transfer – in-bound only
- RBI Certified ATM Networks
- RBI Certified Prepaid Payment Instruments
- RBI Certified White Label ATM Operators
- RBI Certified Instant Money Transfer
- RBI Certified Trade Receivables Discounting System (TReDS)
- RBI Certified Authorised entities whose Payment System operations have ceased
- RBI Certified Entities whose Certificate of Authorisation to operate a Payment System have been RBI Certified cancelled on account of voluntary surrender by the entity
- RBI Certified Entities whose Certificate of Authorisation to operate a Payment System have been RBI Certified cancelled as per regulatory requirement
How to choose the best payment gateway for your business
When choosing a payment gateway for your business, there are a few key factors to consider:
- Payment methods: What types of payments do you want to accept? Make sure to choose a payment gateway that supports the payment methods that your customers use most often.
- Countries served: Do you want to accept payments from customers in other countries? Make sure to choose a payment gateway that supports international payments.
- Fees and charges: Payment gateways typically charge fees and charges for their services. Make sure to compare the fees and charges of different payment gateways before making a decision.
- Features: Payment gateways offer a variety of features, such as fraud prevention, recurring billing, and analytics. Consider which features are important to you and choose a payment gateway that offers those features.
There are many great payment gateways available in India, and the best one for your business will depend on your specific needs and requirements. Be sure to compare the different payment gateways carefully before making a decision.
In 2023, businesses in India have a plethora of payment gateway options to choose from. The best payment gateway for your business depends on your specific requirements, including transaction volume, customer base, and integration needs. It’s crucial to thoroughly evaluate each provider, considering factors like security, ease of integration, transaction fees, and customer support.
Whichever payment gateway you choose, ensuring a seamless and secure payment experience for your customers is paramount. With the right payment gateway partner, your business can thrive in the dynamic world of e-commerce in India.
Please note that the popularity and performance of payment gateways can change over time, so it’s essential to stay updated with the latest developments and trends in the industry.
